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> I love cash cows...
Michael
>Profit is great but the CEO of XOM blatantly said they were a cash cow
Paula
> My point is that the American oil companies, not their suppliers, are
>the culprits. oil company profits are way beyond reason.
etc...
Here's a look at CASH COWS.
Data is sorted by Dec 1999 free cash for the Top 50 market cap in SPX that
were cash-flow positive in 1999. Figures in millions.
XOM may say they're a cash cow, but they've been negative on free cash flow
for 1998 and 1999 to the tune of $3 billion.
In fact, NOT ONE of the top 50 mkt cap cash flow positive SPX components was
in the energy sector and almost none of the energy sector components was
cash-flow positive for 98 or 99. Of the top 50 mkt cap components, only 36
are cash flow positive in 1999. Take a look.
Not that we complained that it was too low, charge us more money - when gas
went to 90 cents - just 18 months ago.
Nor did airlines impose a "low fuel cost discount".
I think we can cut 'em oilers some slack... it creates employment, and we
the investor don't care anyway, as Michael points out.
Gitanshu
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