Obscenity watch
In a changing world there are few things one can rely on beyond death and taxation - but kneejerk reactions from trade unionists are one of them. Noting a BBC headline about Shell's 2007 results and its record profit, I just *knew* that there would be some economic illiterate ready to denounce them as being 'obscene' .
So drum roll, and up to the plate steps Tony Woodley ofthe T&G Unite:
"Unite's joint general secretary Tony Woodley described the level of profits in the oil industry as, "quite frankly obscene". "Shell shareholders are doing very nicely whilst the rest of us, the stakeholders, are paying the price and struggling."
I cannot lay hands on figures for Shell's revenue this financial year, but in 2006 it pulled in $318.8 billion, of which $26.3 billion was profit. I make that about 8%..... I did rather better than that with a few things I flogged on ebay, so I hate to think how Woodley would describe me.
We've been here before, of course, with Tesco.
So drum roll, and up to the plate steps Tony Woodley of
"Unite's joint general secretary Tony Woodley described the level of profits in the oil industry as, "quite frankly obscene". "Shell shareholders are doing very nicely whilst the rest of us, the stakeholders, are paying the price and struggling."
I cannot lay hands on figures for Shell's revenue this financial year, but in 2006 it pulled in $318.8 billion, of which $26.3 billion was profit. I make that about 8%..... I did rather better than that with a few things I flogged on ebay, so I hate to think how Woodley would describe me.
We've been here before, of course, with Tesco.
Labels: business, idiots, Sane economics, Unions
This entry was posted
on Thursday, January 31, 2008 at 12:17 pm.
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Well spotted. I'm not sure what's further up the scale from obscene so I'll just call you very obscene - will that do?
I was thinking about making some comment about Shell's profits being page three, so mine would have to involve amputee donkey porn or somesuch, but my Ma reads this....
Banks and oil companies always seem to declare profits in the billions every quarter! Your outrageously excessive profit levels clearly put you well up in the oppresser-of-the-down-trodden-masses league. Shame on you!
(I will not mention that I made about 150% not long ago on an old pair of earphones!)
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