The Conservative Cave
Current Events => Economics => Topic started by: theconservative on January 06, 2011, 09:01:25 PM
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Apple is now the 2nd most profitable company in the world. We once again can see for ourselves that American technology is the envy of the world. Steve Jobs and company are geniuses and deserve our respect and admiration. The fact that Apple opens stores is also good for the economy. Innovation and strong business ethics has a place in our economy, and Apple represents just that.
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Apple is now the 2nd most profitable company in the world.
They are? I don't see them on this list.
Top companies: Most profitable
Rank Company Global 500
Rank 2009 Profits
($ millions) Profits % change from 2008
1 Gazprom 50 24,555.7 -17.8
2 Exxon Mobil 3 19,280.0 -57.4
3 Industrial &Commercial Bank of China 87 18,832.2 18.1
4 BP 4 16,578.0 -21.6
5 China Construction Bank 116 15,627.9 17.3
6 Petrobras 54 15,504.0 -17.9
7 Barclays 96 14,648.3 82.3
8 Microsoft 115 14,569.0 -17.6
9 Wal-Mart Stores 1 14,335.0 7
10 Vodafone 80 13,782.3 165.6
11 Procter &Gamble 66 13,436.0 11.3
12 International Business Machines 48 13,425.0 8.8
13 Goldman Sachs Group 134 13,385.0 476.4
14 Merck 294 12,901.3 65.2
15 AT&T 21 12,535.0 -2.6
16 Royal Dutch Shell 2 12,518.0 -52.4
17 Banco Santander 37 12,430.3 -4.3
18 Wells Fargo 46 12,275.0 362.3
19 Johnson &Johnson 108 12,266.0 -5.3
20 Bank of China 143 11,867.5 28.2
21 Total 14 11,740.9 -24.3
22 J.P. Morgan Chase &Co. 25 11,728.0 109.2
23 E.ON 27 11,670.0 529.8
24 China Mobile 77 11,656.3 1.9
25 Petronas 107 11,649.1 -23.9
26 General Electric 13 11,025.0 -36.7
27 Telefónica 68 10,808.3 -2.7
28 Bristol-Myers Squibb 405 10,612.0 102.2
29 Chevron 11 10,483.0 -56.2
30 China National Petroleum 10 10,272.5 0
31 Nestlé 44 9,604.0 -42.4
32 Agricultural Bank of China 141 9,514.1 28.5
33 Pfizer 140 8,635.0 6.6
34 GlaxoSmithKline 163 8,625.6 2.2
35 Novartis 160 8,400.0 2.5
36 BNP Paribas 18 8,106.2 83.3
37 Berkshire Hathaway 28 8,055.0 61.3
38 Hewlett-Packard 26 7,660.0 -8
39 Samsung Electronics 32 7,562.1 50.4
40 AstraZeneca 226 7,521.0 23.3
41 Enel 60 7,498.8 -3.2
42 Sanofi-Aventis 169 7,318.1 29.8
43 Roche Group 153 7,168.9 -13.5
44 Lukoil 93 7,011.0 -23.3
45 Deutsche Bank 113 6,912.2 N.A.
46 Coca-Cola 245 6,824.0 17.5
47 Google 355 6,520.4 54.3
48 Rosneft Oil 211 6,514.0 -41.4
49 Philip Morris International 331 6,342.0 -8
50 Bank of America Corp. 15 6,276.0 56.6
http://money.cnn.com/magazines/fortune/global500/2010/performers/companies/profits/
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Steve Jobs and company are geniuses and deserve our respect and admiration.
Hopefully you're not Protestant, Catholic, or Orthodox because if so, Apple thinks what you believe may be objectionable and potentially harmful (http://manhattandeclaration.org/the-movement/latest-updates/10-12-23/Apple_Says_No_to_Manhattan_Declaration_App_2_0-1562643600.aspx)
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They are? I don't see them on this list.
I made an error, I meant in valuation
http://www.sfgate.com/cgi-bin/article.cgi?f=%2Fc%2Fa%2F2011%2F01%2F03%2FBUBT1H3FPH.DTL
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Apple is now the 2nd most profitable company in the world. We once again can see for ourselves that American technology is the envy of the world. Steve Jobs and company are geniuses and deserve our respect and admiration. The fact that Apple opens stores is also good for the economy. Innovation and strong business ethics has a place in our economy, and Apple represents just that.
Those dirty capitalists are making a profit? They're only able to do that by outsourcing their production to China, where the workers are paid about $5 a day, if that. How dare they exploit workers for their filthy lucre? [/DU mode]
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Those dirty capitalists are making a profit? They're only able to do that by outsourcing their production to China, where the workers are paid about $5 a day, if that. How dare they exploit workers for their filthy lucre? [/DU mode]
I know you were joking, but here is some truth: Apple creates jobs for Americans every time they open up a new store. When they open up stores, they pay taxes. Lets be honest here, its cheaper for them to manufacture overseas. Its the best of both worlds; they create jobs for americans in retail and they have less expensive labor. If we reduced our corporate tax rate and put in place a free market approach to health insurance, then maybe they would consider bringing some of those jobs here.
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Jobs created in retail are jobs, and good in general, but in a lot of ways they are only well-paid McJobs, because without actually making things (Real or intellectual property) onshore we eventually fail economically. Apple's certainly been very successful over the past five years especially, but honestly it's hard not to look at them as an organization at its peak.
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Jobs created in retail are jobs, and good in general, but in a lot of ways they are only well-paid McJobs, because without actually making things (Real or intellectual property) onshore we eventually fail economically. Apple's certainly been very successful over the past five years especially, but honestly it's hard not to look at them as an organization at its peak.
I would disagree with you because it is a lot easier to flip burgers than selling products. However, I do agree it is not good for our long term economic prosperity to continue to outsource. We need to repeal Obamacare and instead create incentives to get people private healthcare, we need to cut our corporate tax rate, we need to create tax incentives for hiring, and we need to reverse the tax breaks that ship jobs overseas. Apple has been an impressive company since they only make up less than 10% of the entire computer market and still are profitable.
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I would disagree with you because it is a lot easier to flip burgers than selling products.
Of course flipping burgers is easier, however both kinds of jobs are just churning goods and money without actually producing anything net.