Word: exxonmobils
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Dates: during 2000-2009
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...shareholder lawsuits, Mayo estimates. At the same time, the bank is dealing with souring investments in Argentina and Brazil and is under a cloud for lending practices in the Caribbean. This should have been Weill's year. Citi's booming earnings have put it on track to unseat ExxonMobil as the most profitable corporation in the world. Fortune named Citi one of the world's most admired companies, and Chief Executive named Weill the best CEO. A proud business builder, Weill would like nothing better than to refocus the spotlight on what he's done right...
...Aside from the questionable use of the word "artificial" when it comes to companies selling their own products, Levin has a point - corporate names like BP-Amoco, ChevronTexaco and ExxonMobil demonstrate well enough the industry's recent wave of consolidation. But as Levin targets the brief but headline-making pump-price spikes of spring 2000 and summer 2001 and calls for antitrust action against the industry, he forgets how the got on this merger kick in the first place: the rock-bottom oil prices of 1999. Disappearing profits induced Exxon and Mobil to join forces in search of a vertically...
...quarter turned around and bitten the entire industry on the rump. With the suffering global economy keeping prices down all winter, first-quarter earnings season has hardly been a great one for BP (profits down 57 percent year-over-year), ChevronTexaco (down 70 percent), Conoco (down 84 percent) or ExxonMobil (down 58 percent). And the oft-quoted Marathon Oil? Net income in Q1 2002 was down 87 percent from 2001, due primarily to - as was the case for all of the above - reduced profit margins for refined crude products...
There's nothing illegal in setting up an offshore account. There's also little point in doing it, unless you're like ExxonMobil and doing a ton of business overseas. "We routinely advise individuals against going offshore," says Peter Glicklich, an international-tax-law expert at Roberts & Holland in New York City. Moving offshore can actually shift some categories of income to your disadvantage: turning a capital gain into ordinary income, for instance, and getting taxed at a higher rate. If you fail to report an offshore account on your taxes, you face a penalty of 75% of the underpaid...
...Breaux to Lieberman, is as dirty as the air in Houston, which wouldn't be all that surprising. But if you're Kenneth Lay, you've probably put away your political checkbook for a while, maybe for good, and if you're Microsoft or Comcast or ExxonMobil you might be wondering if those guys in Washington are worth the money if they can't help you out when you need it the most...