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ConocoPhillips Message Board

  • Lilliaput Lilliaput Jun 7, 2004 11:31 PM Flag

    a newsletter..........

    These guys are pessimists from the word go. They harp on the economic mess that low interest rates are wreaking. The debillitation of the Dollar in regards to other currencies and precious metals. They had a long diatribe on the economic ills of the oil industry.....

    - A surging oil price, on Monday of last week, restrained
    the market's animal spirits. But even after oil prices had
    tumbled to one-month lows later in the week, the stock
    market displayed all the vigor of a giant sloth.

    - Friday's delightful jobs report also failed to enliven
    the market for long. The Dow jumped more than 100 points
    shortly after the news crossed the wires that payrolls had
    expanded by 248,000 jobs in May, and that April and March
    had delivered 74,000 more jobs than originally reported.
    But the rally faded into the closing bell.

    - Something more than jobs and interest rates and earnings
    seems to be affecting Mr. Market's mood. Perhaps that
    troublesome something is the uncertain price of crude oil
    and the economically debilitating possibility that oil
    prices might continue to climb - after taking a little
    rest, of course.

    - To be sure, Mr. Market displays no obvious anxiety over
    oil prices... tech stocks still possess lavish valuations;
    oil stocks do not. For the year to date, ExxonMobil shares
    have gained an uninspiring 6%, while most of the other
    major oil company stocks have gained less than 10%. That's
    better than the average S&P 500 stock, but much worse than
    the 22% jump, year-to-date, in the price of crude oil
    itself.

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    • Don't wear a suit, sorry. But I'm telling you that your perception of their job is off a bit. Most of them work hard. But working hard does not equate to sweating or lifting.

      Again, I totally disagree with the high out of sight salaries. But to say they sit around all day and pick their teeth and read newspapers is just not true.

    • So what color is your suit?
      You seem to think these high paid exec's work so hard and all......YOU must be one of them.

    • Well, I know a bunch of execs and work with a whole bunch of them. And I know ZERO that follow your description and all follow my description.

      Many of the upper level managers have meetings schedule from the beginning of their day to the end (which by the way is usually well after 6:00 PM). One meeting will end at 9:00 and the next meeting starts at 9:15. Yes, they do RUSH to the meeting and have to mentally switch gears to the next topic to be discussed. Generally, they are presented months worth of work by a large team, they get 30 minutes and then have to decide to take a recommendation or make suggestions that the recommendations be altered. It is mentally exhausting to do this.

      And yes, some of the meetings involve employee's lives and livelihoods. And I don't know any of them who make any decision that will harm an employee with a "cheerful" attitude. Many agonize over these decisions and the impacts they will have. Believe me, there are a majority who hate making those calls. Some don't, but they generally don't make many friends in the upper ranks and definetly not in the lower ranks.

    • I am familiar enough with Adam Smith. His economics is brilliant, but I couldn't disagree more with his views on virtue.

      Unlike Mr.(sorry)Dr. Smith, I believe virtue is indispensable to our prosperity. Understand I am not against capitalism. I would even wager that my views are every bit as favorable to laissez faire as your own. You seem to be reacting to my posts as if you think I want to use government to create virtue in the hearts of people. That of course is impossible, and the attempt would be bring us to disaster even quicker than our current course.

    • Thank you. Say, what do you think about Iran rejecting demands on its nuclear program? Looks like another topsy turvy week in the futures market.

    • rodv1938 you and I share very similar outlooks. Basically be thankful for what we have, work for a better tomorrow, and don't complain about what we don't have. I think these are important keys to a successful life.

    • You need to read Adam smith. He is the one who recognized self-interest as the ultimate good. The idea is that two people acting in their own self interest can agree in a mutually beneficial way. It's called capitalism and no system of economics yet devised has worked so well to deliver the goods. It is one of the two great events of 1776.

    • Life is unfair. Nothing one can do about it but try to persevere. You know nothing of my circumstances or fortune. But your assumption is correct. I enjoy good fortune. Most Americans do. And all the healthcare in the world won't save us ultimately - and may even make little difference. We have become a health obsessed country. Sometimes it makes a real difference - often not. Don't worry about it. Get on with enjoying your life.


      In the scheme of things it probably won't matter much.

    • To debate Hobbs or Locke or even to include Rousseau and Spinoza for that matter misses my point entirely. I'm saying that any system of government, designed with whatever assumptions made about the core nature of man, will fail. Fail that is without the leavening of those who understand the need to set aside selfish self interest to whatever degree they are able. (please forgive the tautology)

    • You caught the drift for sure and Houston ain't all that for sure!

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