Don't Blame Me, I Voted For Kerry Message Board

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Politics : Don't Blame Me, I Voted For Kerry

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To: American Spirit who wrote (78428)	7/27/2006 6:44:52 PM
From: TimF	Read Replies (1) of 81568

Exxon can manipulate its numbers easily. Not to an extent that would be meaningful compared to the size of the world oil market. If there margin is really 11% not 10, it doesn't make a huge difference. All my points are still valid. They can't make a 30 or 40 percent margin look like a 10 percent margin without setting themselves up for felony convictions. XOM is to big and well followed company, and even a small public corporation could normally only get away with that for so long before it was found out. A private or government owned company might be able to do that, but not a large public corporation, at least not for very long. Also it is in the executives interest to report more profit not less. The higher the profit the bigger their bonuses, and the more their stock options are worth. Enron for example claimed profits in never made by hiding debt in shady joint ventures. If XOM was distorting its reports it would be far more likely to act like Enron and hide debt, than it would be to report debt that is really owed by someone else. Tim

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