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Exxon Mobil Corporation Message Board

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  • hansesteelyard hansesteelyard Feb 1, 2013 12:40 PM Flag

    Exxon Stock

     

    A simple glance at the press release shows profit of $10 billion from asset sales of low book value assets and reinvestment of the sale proceeds into new assets, which is nothing but earnings management, something Exxon Mobil is notorious for. Instead of getting to report $1 billion or so in profit on an asset they can report $10 billion on its sale. Whatever they bought with the money will not generate $10 billion/year... Professional money managers see through such gimmickry instantly... Production is down...

    Just the same story. No growth, poor management by accountants instead of scientists...

    It is amazing is not trading 40% of so lower considering considering the trends in technology. But then it has a big following by employees and simple minded uneducated investors...

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