Written by Adrianne Madden
Thursday, 31 July 2008
Manny is being Manny again. And Exxon is being Exxon.
Here in the Northeast, the heart of Red Sox Nation, we're watching Hall of Fame slugger Manny Ramirez wear out his welcome because he's pouting over his contract status. In the final year of an eight-year deal that has paid him $160 million, the left fielder is disgruntled because the ball club hasn't yet picked up an option year for 2009, which is good for another $20 million.
Imagine being reluctant to pick up the option for a 36-year-old head case whose hitting stats declined last year, and who can be an adventure in the outfield and on the bases. The nerve!
Yet you know he and his agent think they can get more money and a multi-year deal if Manny goes elsewhere. And you think, man, he's already made $160 million. How much money does he need? How much is enough?
Well, as we like to say when he pulls one of his head-scratching stunts, this is just Manny being Manny.
Meanwhile, news is Exxon Mobil has (again) recorded the largest quarterly profit in U.S. history.
The oil giant reports a total net income for the second quarter of $11.68 billion. It eclipses the previous corporate profit record of $11.66 billion — also notched by Exxon Mobil — in the last quarter of 2007.
The happy news for Exxon Mobil shareholders is that they saw their per share earnings rise over the same period last year from $1.63 to $2.22. At least I think it was happy news.
You see, in many of the stories about Exxon Mobil's new record, Wall Street gurus seem, well, disappointed. They expected the quarterly profit total to reach $12 billion and per share earnings to hit $2.46. Consequently, the price for Exxon Mobil shares actually went down 2 or 3 percent.
Wow. They're really slacking, huh?
And you think, man, here's Exxon, posting record quarterly earnings, yet Wall Street analysts and shareholders are clucking that it should've been more. How much money does Exxon Mobil and its shareholders need? How much is enough?
The oil giant has already successfully reduced its punitive damages payments on the 1989 Exxon Valdez oil spill from $5 billion to $500 million. Now it's working to whittle down the punitive damages interest total. The reason? Maybe this is just Exxon being Exxon.
National Fisherman Live: 3/10/15
In this episode, Online Editor Leslie Taylor talks with Mike McLouglin, vice president of Dunlop Industrial and Protective Footwear.
National Fisherman Live: 2/24/15
In this episode:
March date set for disaster aid dispersal
Oregon LNG project could disrupt fishing
NOAA tweaks gear marking requirement
N.C. launches first commercial/recreational dock
Spiny lobster traps limits not well received
Alaska Gov. Bill Walker is required by state statute to appoint someone to the Board of Fisheries by today, Tuesday, May 19. However, his efforts to fill the seat have gone unfulfilled since he took office in January. The seven-member board serves as an in-state fishery management council for fisheries in state waters.
The resignation of Walker’s director of Boards and Commissions, Karen Gillis, fanned the flames of controversy late last week.
Keith Decker, president and COO of High Liner Foods, will take over for the outgoing CEO, Harry Demone, who will assume the role as chairman of the board of directors. The Lunenburg, Nova Scotia-based seafood supplier boasts sales in excess of $310 million (American) for the first quarter of the year.Read more...