In 2007, Venezuela nationalized its oil assets, violating contracts with oil giants such as Exxon. A Paris-based International Chamber of Commerce arbitration panel awarded $908 million to Exxon, and the outcome is being viewed as more of a victory for the country’s state oil company than the company. [More]
Exxon made $11.68 billion in the second quarter, says the AP, which is “the biggest profit from operations ever by any U.S. corporation,” but that wasn’t quite enough to please investors, who were disappointed.
The bracket has been updated as we prepare for Round 4 of our Worst Company In America contest. See the full-sized graphic, suitable for framing or forming the basis of informal office betting pools, inside…
Here’s your first “Elite 8″ match-up: #1 Comcast VS #9 Exxon. Only a few more rounds to go!
Exxon says the US retail gas station market is “too challenging” and they’ll be selling the roughly 2,220 service stations the company owns. There are 12,000 Exxon/Mobil branded stations in the United States, but about 75 percent are already owned by others.
This is Round 35 in our Worst Company in America contest, Exxon vs United Airlines.
Exxon Valdez crash spilled 11 million gallons of oil into Alaskan waters. Recently Exxon petitioned to have the $2.5 billion in punitive damages reduced because it thought they were excessive. Exxon was also sued in lawsuit claiming their Indonesian subsidiary allowed their facilities to be used by the Indonesian government to torture 11 villagers.
The Supreme Court is currently considering whether to halve the punitive damages levied against Exxon for its massive 1989 oil spill from the Exxon Valdez tanker, from the current $2.5 billion to something more like $1 billion. Exxon claims the higher number amounts to excessive punishment. According to the New York Times, the decision may come down to a tie with four justices on either side; Justice Alito is not participating because he owns Exxon Mobile stock. The Exxon Valdez disaster “caused a 3,000-square-mile oil slick and still affects Alaska’s fisheries after nearly 19 years.”
We’re down to the Final Four gladiators to determine the Worst Company in America. Or at least, which company this year most offends the netizen’s liberal sensibilities
Exxon Mobil’s record annual earnings followed a year of extraordinarily high energy prices as crude oil topped $78 a barrel in the summer – driving up average gasoline prices in the United States to more than $3 a gallon. Prices retreated later in the year.
Way to go, Exxon. —MEGHANN MARCO
Know this An Inconvenient Truth parody? If you’ve been on YouTube any time in the last 48 hours, very probably. Perhaps you were even one of the knee-jerk reactionaries who left a comment either praising (“Finally sockin’ it to those hippy pansies in the taint!”) or condemning it (“Wow, was that ever unfunny. Unlike that giant flap of skin on the neck of the guy who runs Exxon.”)
As quarterly earnings rolled in yesterday, Exxon announced it earned $8 billion in profits. The oil company earned 9.5 cents per dollar of gas, “cashing in on skyrocketing prices at every stage of the process,” reports MSNBC.
7-Eleven is set to implement a new, testosterone-boosted ATM this year, providing even more banking solutions to the great unwashed The all-embracing milk of corporate hegemony continues to…