Roller Coaster Ride Likely to Continue on Gas Prices
Lisa Taylor, of Whispering Pines, fills up her gas tank Friday afternoon in Carthage.
- Print print this page
- Discuss 39 comments, Blog about
Advertisement
Why do gasoline prices seem to be higher in Moore County than most of its neighboring counties?
Simply put, dealers say the local price reflects what the market will bear.
The price for a gallon of regular unleaded in Moore County on Friday ranged from a low of $3.54 in Cameron to a high of $3.63 in Seven Lakes, while the statewide low and high were $3.25 in Roxboro and $3.88 in Marshall, respectively, according to gasbuddy.com.
Although it has not always been the case in the past, the price range in the surrounding counties on Friday was not drastically different from that in Moore.
“I think prices are higher here because we’re more of a resort and retirement community,” says Chris Davis, who owns the Mobil Mart on N.C. 22 between Southern Pines and Whispering Pines.
Davis has a lease with Rex Oil Co., of Thomasville, which owns the land, building and gas pumps.
“Rex Oil sets the price. Basically, they let me match the lowest price on U.S. 1 between the Kangaroo in Southern Pines and the Wilco Hess in Aberdeen,” he says. “They let me make a nickel a gallon.”
But Davis adds that credit and debit card fees virtually erase his margin. For example, he sold 9,008 gallons of gasoline, diesel and kerosene last December and should have cleared $533.64. But his card fees were $349.84, leaving a profit for the month of $183.80 on fuel sales.
“That’s not even enough to pay an employee for a week,” Davis says. “People don’t realize that we get charged every time they pay for gas with a debit or credit card.”
To help make up the difference, Davis added a 3-cents-per-gallon surcharge on Feb. 1 for customers who pay with a card.
Frank McNeill Jr., owner of McNeill Oil Co. in Aberdeen, empathizes with Davis. McNeill Oil owns five convenience stores in Moore County and provides gasoline to five others in Moore, Hoke and Montgomery counties.
“We’re making a little over 5 cents a gallon right now, but 80 percent of our customers pay with a card, which costs us almost 8 cents per gallon,” McNeill says. “That’s been a killer for us. If I raise my price to cover those card fees and the guy across the street doesn’t, we’ll lose a lot of our customers.”
McNeill has already had to overcome the perception that his company controls gasoline prices in Moore County.
“Because we’re the only local distributor, some folks think we sell every gallon in the county,” he says. “But we probably sell less than 10 percent. We’re the little guys. We don’t control anything. The Pantry has more stores in Moore County than we do. So does Shortstop.”
Despite the competition, McNeill notes that nobody “wants to be the first” to increase prices.
“You kind of sit around and see what everybody else does,” he says.
McNeill adds that when gasoline prices go up, retailers “usually gets squeezed on the margin side.”
“Retailers do better when the price is lower,” he says. “We would love gas to be $1.50 per gallon.”
Unfortunately for consumers, recent history indicates that lower prices aren’t likely. Average gasoline prices in the United States have jumped in 11 of the past 12 years, to a record high of $3.514 per gallon for all of 2011.
And Barclay’s Capital has forecast that oil prices are expected to remain surprisingly resilient this year, despite a global recession.
Even if the U.S. produced all of its own oil — it imports 51 percent — consumers would still pay the same world price for it because crude oil is a commodity that is bought and sold in a completely integrated, fully competitive world market. The same can be said for food prices.
“If you own the crude, you’re making a killing,” McNeill says.
He notes that Exxon used to own about 6,000 retail outlets across the country.
“Today they own almost none,” he says. “They learned that the money is made in the crude.”
Which is the main reason that Exxon and the other major oil companies are cranking out quarterly profits in excess of $1 billion.
“Exxon had $400 billion in sales last year and made a profit of about $40 billion,” McNeill says.
Many Factors
Of course, tracking prices can feel like a roller coaster ride to consumers. To the average person, it probably seems as if there’s little rhyme or reason to how gas prices are determined.
A plethora of factors — many of them uncertain — affect the price of crude oil and the products made from it. They include inventories, weather, global economic growth, exchange rates, inflation, speculation, hedging, geopolitical risk, spare production capacity, production decisions made by the Organization of the Petroleum Exporting Countries (OPEC), and non-OPEC supply growth.
China, India and the developing world are the primary drivers of rising demand, because people there want mobility now that they have more discretionary income.
In addition, anything that affects any part of the process, from the moment the gas is drilled, through refining and distribution to the consumer, will result in a change in price. Even retailers next to each other can have different traffic patterns, rents and sources of supply that affect their prices.
“Gasoline is almost a loss leader these days,” says Gary Harris, executive director of N.C. Petroleum & Marketers, a gas retailers trade group based in Raleigh. “Retailers are trying to drive in-store sales, because that’s where you make a wider margin.”
Harris says gas consumption in North Carolina is declining.
“We’re seeing a 3 to 6 percent drop in the number of gallons being used,” he says. “We’re at the point where consumers pull back because of prices, and we understand that. Volume drives sales, so we like lower prices. People don’t believe that, but it’s true.”
‘Grudge Purchase’
Scott Yates, vice president of Largemouth Communications and a spokesman for The Pantry, says retailers set a target price based on “the wholesale cost of the fuel and operating costs associated with selling the fuel.”
The Pantry owns more than 1,600 convenience stores in 13 states, mainly in the Southeast, including the Kangaroo on U.S. 1 in Southern Pines.
“Prices are reviewed on a daily basis,” Yates says. “We strive to remain competitive in every market.”
The gasoline purchased by Moore County consumers is refined along the Gulf Coast, sent by pipeline to a distribution terminal in Greensboro, and transported by tanker truck to local retailers.
McNeill recently showed The Pilot a Jan. 10 invoice with a cost breakdown. The company paid almost $2.77 per gallon for the fuel, almost 39 cents per gallon in state taxes, a little more than 18 cents per gallon in federal taxes, a shipping cost of just over a nickel and a marginal inspection fee.
Total cost to the company? Almost $3.40 per gallon.
Retail price at its Exxon station on U.S. 1 that day? Almost $3.45 per gallon.
“Very little of the profit comes at the retail end,” McNeill says. “The margins are horrible right now, because gasoline is so competitive and people are so price-conscious. It’s a cutthroat industry. Why do retailers who lose stay in the market? That’s what I can’t figure out.”
McNeill knows why consumers keep coming back.
“Gas is expensive, but you have to have it,” he says. “It’s a grudge purchase. Our dependency on gas makes everyone extremely aware of price fluctuations. They want to blame the retailers, who are making the pennies, instead of the big oil companies that are making the dollars.”
Contact Ted M. Natt Jr. at tnatt@thepilot.com.
More like this story
Advertisement
Comments
JER 3 months, 3 weeks ago
Excellent article filled with plenty of facts and figures. The article also raises some questions that I will now ask: 1) If the individual stores make little if any money on the sale of gasoline, why do they continue to allow you to pay at the pump? If they are trying to get you to purchase other items when you stop for gas, why not MAKE you walk into the store? 2) If all credit card companies charge the retailer a fee for doing a sales transaction, why do these stores continue to allow credit card transactions for purchases? In the case of gasoline, if every store offered their gasoline at a 8 cent a gallon discount for cash purchases and that fact was widely publicized, eventually most everyone would adapt and pay only cash. 3) The price of gas is not going to go back to a dollar a gallon....ever. This article explains why. Instead of useless complaints, why does the public continue, for the most part, to drive gas guzzlers that have one person per vehicle? Why do they continue to jump into their cars without making a plan to accomplish as many things per trip as possible. In other words, why don't they try to lower their gasoline bill by using less?
Bflat 3 months, 3 weeks ago
The article says gas consumption in NC is declining. That should indicate that people have cut back on travel which probably means less money for certain stores. In some areas, people are not dining out as much. As for me, I do all errands and necessary shopping in the same trip to avoid having to travel extra miles.
The locals can explain all they want to but gas is Moore County is still higher than Lee and Cumberland. I'll fill up there when in those areas.
MikeNC 3 months, 3 weeks ago
JER 5 hours, 18 minutes ago ... Instead of useless complaints, why does the public continue, for the most part, to drive gas guzzlers that have one person per vehicle? Why do they continue to jump into their cars without making a plan to accomplish as many things per trip as possible. In other words, why don't they try to lower their gasoline bill by using less?
Where do you get your facts that most drive gas guzzlers? That most have only one person in the car? That they make no plans to accomplish multiple 'things' per trip? And do not try to lower their gasoline bill by using less?
Do you know everybody on the road in all 50 states and the five "W's" of their trip that day? Or is everything you stated here purely personal conjecture...in other words useless? And if some drivers are doing exactly what you speculated....what concern is it of yours? It is their choice of vehicle, their choice of driving alone or not and their choice of where to go and when to drive there. For right now at least; the American consumer can make personal decisions about how to spend their hard earned money and travel where and when they would like to go; without answering to others....Mike
Mark106 3 months, 3 weeks ago
Great article w/ lotsa facts but....why can I still leave Moore County and get gas up to 10 cents a gallon cheaper????????????????????? Didn't answer that one did you! I guess the rest of the state are just poor business people and take a loss????
camesh 3 months, 3 weeks ago
As long as I can purchase gas cheaper in Lee & Cumberland counties. I will continue to do the majority of shopping there. My trips are consolidated. As for driving a gas guzzler, Won't be long before its paid for. Payments and insurance are cheaper on my guzzler than on a new vehicle. I can use my guzzler like a pickup truck if needed!
theonewithsense 3 months, 3 weeks ago
Mark, reread the article, it explains why gas prices differ from place to place. Okay, lets say I want to drive out of county to get gas 10 cents cheaper a gallon. For me, 20 gallons of gas. I save 2 dollars on a tank of gas. 30 miles each way at 30mpg, I just used 2 extra gallons of gas. I spent 7 bucks to save 2 and it cost me an extra hour of time. Do the math people, it doesn't even pay to drive across town to save a few cents per gallon.
AFCHIEF 3 months, 3 weeks ago
theone, you make great sense with your math. But if I'm headed to Fayetteville for whatever reason I'll wait and fill up there
MikeNC 3 months, 3 weeks ago
And to add on to AFCHIEF and theonewithsense....When I am making a trip across the border into SC; I'll wait and fill up there.....Mike
CNMT 3 months, 3 weeks ago
The people who are really hurting are those who have to drive (usually alone) to get to and from work. My husband works in Durham - only job he could find when he ended up unemployed dur to his company selling out to a company out of state. He pays $ 450 - 500 a month in gas just to get to and from work. And he drives a sedan that is getting 29 MPG so it is hardly a "gas guzzler".
RD28327 3 months, 3 weeks ago
And why does it seems like gas prices are higher in Carthage than other parts of the county???
JER 3 months, 3 weeks ago
MikeNC: You are correct. My comments are my opinion but are based on observation of what actually is taking place. You are correct, people can spend their money however they want. The point of my comment is: Don't bitch and complain if you are unwilling to do anything to solve the problem you are complaining about.
JER 3 months, 3 weeks ago
CNMT: Your sedan is a gas guzzler compared to vehicles getting 49 MPG, so that would be an option to consider. Moving to Durham would be another but I do understand the problem might be selling your home in Moore County (if you are a home owner). There are always options, if you are willing to consider them.
fmapinehurst 3 months, 3 weeks ago
Such a poor article not mentioning the county and state taxes as part of the problem. I had communicated this to the Publisher of the Pilot when suggesting a few weeks ago that his paper do an in-depth article on the gas prices in Moore County and the State. So we got this instead. Why they couldn't have included more sbstance and research is beyond me. Maybe next time.
CNMT 3 months, 3 weeks ago
JER - moving to Durham is not an option as I have a job in Pinehurst. Then I would be spending the $ 450 - 500 a month to get back and forth to work. And I do own a home in Pinehurst, so that does present another issue. We are considering another option....early retirement for husband in December when he turns 62. As for those vehicles that claim to get 49 MPG, most of them are very compact or hybrid. My husband is almost 6 ft. 6 so a compact is not a viable option when driving 90 minutes each way. One does have to consider some comfort in the equation - delicate balancing act for sure.
Also, fmapinehurst, there are no "Moore County" taxes on gas so I am not sure where you are coming from there. The State gas tax is the same no matter what county one lives in so that doesn't explain the differences from county to county.
geoffcutler 3 months, 3 weeks ago
JER "This article explains why. Instead of useless complaints, why does the public continue, for the most part, to drive gas guzzlers that have one person per vehicle? Why do they continue to jump into their cars without making a plan to accomplish as many things per trip as possible. In other words, why don't they try to lower their gasoline bill by using less?"
I'll tell you why, JER. Because I don't want to, that's why. I like my 4door V8 Chevy 2500 and I like driving it without you tagging along for a ride. I can't pull 10,000 pounds of trees in a Chevy Volt or a Toyota Pruis, and even if I could, I wouldn't because I can't fit in those crap cans. I like the space, I like the power, and I like being able to carry all my tools, extra clothing and the dog.
This is America, man, not some cut rate third world dump. We drive what we damn well please, and don't need you or any other liberal dictating to us what kind of cars we should drive and how many people we should be car-pooling. What we need is to get the evironmental whackos out of the way and start drilling for oil, here and now. And I 'll keep my incandescent bulbs too.
Bentpan 3 months, 3 weeks ago
. geoffcutler As always my hero.
JER 3 months, 2 weeks ago
Hey, I think we woke Geoff up. That is the most emotion I have seen out of him. Evidently, he is starting to get a little edgy with how the primaries are going. I can certainly understand that!! Well, Geoff, sorry to pull the rug out from under your argument but I'm not telling you what to drive, when to drive it or who and what you should have ride along with you. I am asking questions. I'm am offering my opinions on what someone could do. I could give a flying fig what the heck you drive. I understand that you own a business (although I would not know it from ads you run) that requires heavy duty vehicles. I also understand that you could give a crap about the world around you. I understand that it's all about you and your rights to do whatever the heck you want. I know that people who care about the environment are your enemy. I know that government protections designed to protect ALL of us are impediments to your goal of doing whatever the heck you want. So drill, baby drill. And be sure we drill right HERE, not in a foreign country like Canada. We want to be self sufficient and Canada is not a part of the USA so no need to be drilling in Canada and then running a pipeline through the middle of the country. Maybe they can "frack" some energy out of Moore County, say in your neighborhood maybe?
geoffcutler 3 months, 2 weeks ago
I'll tell you what, JER, when you libs and your friends in big government finally fix something in our society, be sure to let the rest of us know, and maybe we'll finally have reason to believe you know better about what's good for us.
Toda 3 months, 2 weeks ago
One oversight in the threads is NC gas tax which is now 4th in the nation. What is so much better about NC roads than surrounding states? If I'm headed out of town, then I fill up. Don't forget, the distributors say we'll pay what the market will bear...and since we live in a Resort, the market for wealthy retirees is good pick'ens. The rest of us ride on that elitist wave. Peace out.
JER 3 months, 2 weeks ago
Right back at you, geoffcutler.
Bflat 3 months, 2 weeks ago
Tell me again, why is the price of gas higher in Moore County than surrounding areas? Yep, I thought so. :))
emb6683 3 months, 2 weeks ago
Why are several posters saying that the high state tax was not mentioned? The article clearly says
"The company paid almost $2.77 per gallon for the fuel, almost 39 cents per gallon in state taxes, a little more than 18 cents per gallon in federal taxes, a shipping cost of just over a nickel and a marginal inspection fee."
And there is no county tax on gas (this is gasoline tax, not sales tax) so you can't blame the county commissioners.
Toda 3 months, 2 weeks ago
4th highest gas tax in the nation!
Bflat 3 months, 2 weeks ago
Soon to be added will be toll charges to several roads within the state, too. I'm going to bypass all that as much a possible. I'm already taxed to death.
MikeNC 3 months, 2 weeks ago
MikeNC: You are correct. My comments are my opinion but are based on observation of what actually is taking place.
Hmmm...In other words your self opinionated comments are junk science or in your own words....useless. Most of America does plan on doing something about it other than just complaining....and that is to vote this administration out come this November. They are elected to solve these kind of problems for us; but they have been laser focused on self and party affiliated issues ...Mike
Mark106 3 months, 2 weeks ago
"theonewithsense" I have re-read the article numerous times and this is the best I can find as to how the article answers my question..."“I think prices are higher here because we’re more of a resort and retirement community,” says Chris Davis" If this is acceptable with you it is not for me. Also your math is fine but do you never leave the county? I fill up anytime I am NOT in Moore County, not a special trip out of the county for gas. That is me using "Sense". Please let me know where in this article ist does explain why our gas is higher than Lee & Cumberland counties. Thanks
sgmartin 3 months, 2 weeks ago
Mike NC (and Diane) you are tiresome and add nothing to discussion except petty swipes at anyone who disagrees with you. Make a cogent argument and quit the high school cyberbullying. And give how fact driven you are, lets see some independent stats that "Most of America does plan on doing something about it other than just complaining....and at is to vote this administration out come this November." I know that is your fantasy and maybe it will come to pass but fortunately - although Pinehurst residents think they are the center of the world, it's not. So I think we will have to wait until November to see how this falls out. You don't speak for "most of America". As a matter of fact I suggest you need to learn more about the global economy and the environment before you open your mouth.
DaveyNC 3 months, 2 weeks ago
People still asking why prices are higher in Moore County than surrounding counties must not have read the article. In fact, you didn't read the second sentence in the article, because that is where it is explained to you.
"Whatever the market will bear."
This isn't Scotland County or Hoke or Montgomery County. People leave there and come to Moore County to work or eat out or play golf. In fact, people from all over the southeast drive here to play golf. And they buy gas. In fact, we are ranked 32nd in the state for population, but 11th in travel-related expenditures. This amounts to an extra $880,000 a day in revenues to the county. More info here: http://goo.gl/v7vAk
That is a lot of added demand, folks. Repeat after me: Econ 101 says that when demand is high and supply is constrained, prices rise. The people at Rex Oil understand that and they maximize their profits as they should. Meanwhile, we enjoy the benefit of all that extra cash sloshing around in the county. Think Scotland County wouldn't like some of that?
And by the way, this is an excellent article and I hope that it finally puts to rest this issue once and for all, particularly as it pertains to McNeill Oil.
If you want gas prices to come down here, either stop buying here or open up a half dozen gas stations areound town. Because, repeat after me: When supply goes up or demand drops, prices go down.
JER 3 months, 2 weeks ago
Good one, MikeNC. My "self opinionated comments are junk science" and your predictions of the outcome of the 2012 elections are based on your ability to see the future. As sgmartin so nicely points out, you don't speak for "most of America". You can barely speak for yourself. Case in point: You and Diane are part of the "get the government out of the way so private industry can solve all of our problems" crowd. Then, like the real Einstein that you are, make the statement: "They (government) are elected to solve these kind of problems for us." So which is it Mike? Is the government the bad guy or is it that private industry is the bad guy? You seem to want capitalism except when it works like it's supposed to and has a negative effect on you. I don't know why I bother with pointing out any of this to you since you are apparently oblivious to rational thoughts.
MikeNC 3 months, 2 weeks ago
JER 6 hours, 34 minutes ago.... I don't know why I bother with pointing out any of this to you
So quit your 'pointing out' JER. You never point in a coherent direction anyways. BTW martin, I do not think I have ever saw you respond back to someone answering a meaningful question they had for you. Just a drive by useless jab or insult here and there from you. Very similar with JER...unless it's something he wants to spin around. Our elected government so called leaders should make policy to allow business and job growth JER...not try to make it themselves. The only utterance from martin that was worth the band width is "So I think we will have to wait until November to see how this falls out." That is true and will be something to see. My 'predictions' of the 2012 outcome is not my ability to see into the future JER; but the ability of looking back over the last three years as anyone can do and I think MOST Americans have been doing just that....Mike
MikeNC 3 months, 2 weeks ago
I also meant to add our congress and president should help remedy these gasoline prices here in Moore County and across our country. What have they done? Keystone pipeline refusal? Oh yea, President Carter did create the Department of energy to get us off the dependancy of foreign oil. How's that government agency working out for us year after year? About as effective as our department of education.The DOE enjoys about a 26 billion dollar a year budget and they recieved an additional 38 billion from the 'stimulous package'. When we as Americans start demanding something from our elected politicians, we just might get something from them. This is done at the voting booth and November 2012 is just such an opportunity to make such a demand...Mike
AFCHIEF 3 months, 2 weeks ago
We can always get a Chevy Volt at a cost of 45,000. And after all the freebies from the govt each one of these cars cost the taxpayers 200,000. Instead of the freebies to Chevy why not give us the taxpayers a cut in gas tax.
JER 3 months, 2 weeks ago
MikeNC and your twin brother AFCHIEF: Please allow me to introduce you to facts: The oil companies (the private industry you promote as our salvation) record record profits quarter after quarter. A shining example of capitalism at work and evidently unencumbered by your perceived government roadblocks. As indicated in the article, the cost of gasoline delivered by the oil companies to local distributors is somewhere north of $2.77 per gallon including shipping and inspection costs. The evil empire and your sworn enemy, the federal government adds a little over 18 cents per gallon tax and their co-conspirators in crime, the state and local governments add about 39 cents a gallon taxes. These taxes are used to provide and maintain the highway systems , including infrastructure, that allows you to drive your gas burning auto wherever the hell you want to go. Your conclusion from viewing these fact: Whaaa, whaaa, gas prices are too high and it's the governments fault for gouging us with these taxes. In one sentence you talk about getting us off of our dependence on foreign oil and in another sentence you blame government for not building a pipeline that would bring oil from Canada. I guess because you two were not stationed there during your years of heroic service to your country, you don't know that Canada IS a foreign country. You want lower gas costs, use less.
MikeNC 3 months, 2 weeks ago
Have you ever heard of the profit margin a company makes? The state, and federal government are making more money out of each gallon of gas than the oil companies make. If it's used for highways and infrastructure...that is a good thing as that is where it should be spent; but is it? How about the stimulous money confiscated from taxpayers for all the infrastructure, highways, ect? where did that pile of money go?
here's some examples of profit margins comparing the BIG EVIL oil and others...Mike
http://seekingalpha.com/article/269679-oil-industry-profit-margin-ranks-fairly-low-there-are-bigger-fish
Courseaire 3 months, 2 weeks ago
Let me present the facts as best as I can find them: The US Oil business is not all record profits. Back in the 80’s and even now, the oil business is in trouble. The price of oil fluctuates dramatically, the middle east had flooded the market with their oil, sending the price of crude down to an all time low. It was fine for the big companies like WesStar, but the likes of the Independence were in turmoil. JR was forced to shut down the stripper wells causing a great deal of unemployment. Meanwhile Cliff Barnes stole an idea of Jamies for all the Oil Companies to pull together and form a lobby in Washington to put a tariff on imported Oil. Cliff became famous over the idea, much to Jamie's anger. Donna Krebbs headed the Lobby. A man by the name of Scotfield lost his job from Ewing 12. In his anger he blew up a well, he was later arrested and in his shame committee suicide. His wife Martha wanted vengeance. She visited Ewing Oil and told Bobby that "one day a big fish like Ewing Oil is gonna get eaten up and swallowed hole by a even bigger fish" and she would hold them that promise.
JR wanted the price of American crude to rise and he wanted it to happen now. He met with a General Longly who was sacked from the military for War Mongering. He put JR in touch with BD Calhoun who would go to the middle east and start trouble by blowing the Oil Wells. This he did. Iraq blamed Libya and Libya blamed Iraq, JR had met his aim. But to do this people were killed and JR wanted out. BD would hold JR to his promise and blamed JR for the whole mess. BD kidnapped John Ross and threatened to kill him, but Ray killed BD in time. The FBI were involved and decided on a cover up to save the face of America as well as JR`s butt.
ladylane 3 months, 2 weeks ago
Have any of you ever heard if no one buy gas for one day it would put them in the hole? So if we want to do something about it everyone fill your car and we chose a no buy gas day see how it works.
CNMT 3 months, 2 weeks ago
Not buying gas for one day really doesn't accomplish as much as one thinks. Everyone either fills up the day before or the day after thereby still buying the same amount of gas at the same price. What does work is boycotting a particular brand for a month....for instance no one buy at an Exxon station this month, BP next month etc. The experts claim that hurts them more than a one day moratorium.
MikeNC 3 months, 2 weeks ago
Courseaire 3 hours, 5 minutes ago ...Let me present the facts as best as I can find them: The US Oil business is not all record profits. Back in the 80’s and even now, the oil business is in trouble.
Absolutely correct. Their actual profit margin is no where near many other major companies and industries. Our government has convenienty villianized them. Their success has morphed them into being easy prey for our government to reach into their pockets. If someone was to invent a way to run automobiles, trucks, turbine engines, etc, etc on water alone; he / she would be an instant hero and multi billionaire. Soon afterwards they would be villainized as a greedy corporate 1%'er and would join the ranks of big oil as evil because of the huge sums of profits that was being made....and yet another victim for our government to seize their cash because it is not fair that they have and others have not. More spreading that wealth around...Mike
JER 3 months, 2 weeks ago
MikeNC: After reading your last post, I debated what response would best describe how I viewed the statements you make. My first reaction was to call you and idiot. My second thought was to suggest that perhaps you were jumping out of airplanes and landing on your head during the time the TV show Dallas was on the air. Eventually I decided that I would not make either of these comments for fear it would cause you severe emotional distress. And so I'll just say that "profit" is the amount of money left from sales dollars after expenses are deducted. If someone has "record" profits, that means they had more money left after expenses than ever before. You can check with your ex-CO to verify if you wish. Hey Mike (hee, hee), I heard that you can run your car with water if you add just a little bit of sugar mixed in with it. It seems to be working OK for me so far (tee hee) so you might want to give it a try.