Yep, 7% net profit on commodity product. That is huge for that type of product. And of course, don't forget the creative accounting that goes on to be able to publish that number with a straight face!
As reported on the CBS Evening News several months ago meanwhile several other companies were in double digits so nice try on the straight face part. Oil companies aren't a charity. Btw, I am in no way a shareholder of any oil company unless they are part of a mutual fund I have in a retirement account. I am just sick and tired of people whining about gas prices, health insurance cost, etc going up and everyone immediately crying about those awful corporations. Corporations who employ hundreds of thousands of people. They can't charge more when their cost of business goes up or revenue goes down, people wind up out of work. Yes, I know it's happening all over the place but it could be (and could get) a lot worse. I don't like paying $3.16 a gallon either. I don't like my high copays for the doctor and medications. But such is life. I know the oil companies and insurance companies aren't the real guilty parties but it's much easier to blame them. Same applies to Directv. I dont like the increased cost at all. But like others have said, when they say they are going to fight back on channels demanding higher payments on renewal and people threaten to leave because they may lose the channel, what do you think is going to happen? They agree to it and the programming package costs go up. Blame the companies that provide the programming, don't just throw Directv under the bus because they are the ones charging the new rate to us. Again, they aren't a charity.