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.
The following was released by the Maine Department of Marine Resources on Jan. 22:
The Maine Department of Marine Resources announced an emergency regulation that will support the continued rebuilding effort in Maine’s scallop fishery. The rule, effective January 23, 2016, will close the Muscle Ridge Area near South Thomaston and the Western Penobscot Bay Area.Read more...
Louisiana’s Department of Wildlife and Fisheries, which governs commercial and recreational fishing in the state, got a new boss in January. Charlie Melancon, a former member of the U.S. House of Representatives and state legislator, was appointed to the job by the state’s new governor, John Bel Edwards.
Although much of his non-political work in the past has centered on the state’s sugar cane industry, Melancon said he is confident that other experience, including working closely with fishermen when in Congress, has prepared him well for this new challenge.Read more...