Weekend tornado outbreak causes heavy damage in Virginia, Iowa

By: Dr. Jeff Masters , 2:00 PM GMT on April 11, 2011

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Floods, fires, and tornadoes hammered the nation this weekend, a sure sign that April is here. The severe weather action began on Friday night in the mid-Atlantic when twin tornadoes touched down in Pulaski, Virginia. The twisters, one a strong EF-1 with 105 - 110 mph winds, and the other an EF-2 with 125 mph winds damaged 450 buildings, caused $8 million in damage, and injured eight people. The most significant day of the weekend tornado outbreak occurred on Saturday as a powerful storm over the Upper Midwest dragged a cold front through Iowa. Twenty-seven tornado reports were recorded in Iowa by NOAA's Storm Prediction Center. The most powerful of these tornadoes was the huge, 3/4 mile-wide tornado that plowed through the tiny town of Mapleton, Iowa on Saturday evening, leaving a trail of destruction 3.5 miles long. The tornado, preliminarily rated as an EF-3 with 136 - 165 mph winds, flattened 20% of the town of 1200 residents and damaged half of the buildings. Fourteen were injured, but miraculously no one died. The severe weather continued on Sunday with seven reports of tornadoes over Wisconsin. The most serious was a tornado in Lincoln County, which destroyed or heavily damaged 30 buildings, and caused three serious injuries.


Figure 1. Tornado chaser video from Saturday's twisters over Iowa from tornadovideos.net.

More severe weather today
As the cold front that triggered the weekend's severe weather progresses eastwards across the U.S. today, NOAA's Storm Prediction Center has placed a wide swath of the Northeast and Southeast under their "slight" risk area for severe weather, one notch down from the "Medium" risk that was posted for Wisconsin on Sunday and Iowa on Saturday. Tuesday and Wednesday should be relatively quiet days for severe weather, but Thursday will see a renewed chance of a significant severe weather outbreak in the Oklahoma-Arkansas region, as a major new spring storm gathers strength over the Midwest.


Figure 2. Severe weather outlook from NOAA's Storm Prediction Center for Monday places much of the Northeast and Southeast in the "Slight" risk area for severe weather.

Tornado season near average so far this year
According to statistics compiled by NOAA's Storm Prediction Center, 2011's tornado season has been near-average so far. The preliminary number of tornadoes reported as of April 10 was 301, and the six-year average from 2006 - 2010 was 339. Preliminary tornado counts are typically about 15% too high, so the actual number of confirmed tornadoes will end up being around 256. The peak part of tornado season is just getting started--typically, only 17% of the season's activity has occurred by April 10. The number of strong (EF-2 and EF-3) tornadoes has been rather low so far; the Mapleton tornado was just the seventh EF-3 of 2011. There have been no violent EF-4 or EF-5 tornadoes so far this year. The death toll of just three so far in 2011 is remarkably low for mid-April, a testament to good warnings and a good helping of luck.

Jeff Masters

Cold in April (Railheel)
Hail, wind, and rain came through with unknow damage as of now. did break windshilds.
Cold in April
Tornado-damaged house (ChrisAnthemum)
Early Tuesday morning, a tornado raked along Ararat Road in Pilot Mountain, NC, damaging several houses and downing many trees. A cleanup crew was working on this one when we drove by on Sunday.
Tornado-damaged house

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417. hurricanejunky
3:27 PM GMT on April 12, 2011
Quoting biff4ugo:
Great Information on here today.

I'm glad the storms sweeping into FL today look weaker.

Why are polititians afraid to raises taxes, but let gas prices flucutate wildly and crush our economy on a daily basis? Makes no sense to me.

They want to build houses to create jobs, but we have too many houses already... hence the drop in value. We need to stoke the green economy! PV farms are growing, but slowly.


GREAT POST!! +1000
Member Since: August 28, 2006 Posts: 6 Comments: 2899
416. aspectre
3:13 PM GMT on April 12, 2011
NEW BLOG
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415. aspectre
3:11 PM GMT on April 12, 2011
Yesterday's magnitude6.2earthquake was epicentered
142miles(~229kilometres) at 191.3degrees(SSW) from FukushimaDaichi
51miles(~82kilometres) at 113.3degrees(ESE) from centralTokyo
Today's magnitude6.0earthquake was epicentered
34miles(~55kilometres) at 212.3degrees(SSW) from FukushimaDaiichi
105miles(~167kilometres) at 31.2(NNE) from centralTokyo
Member Since: August 21, 2007 Posts: 0 Comments: 4860
414. ILwthrfan
3:09 PM GMT on April 12, 2011
Quoting BobinTampa:
ILwthrfan,
Have you contacted your State Farm agent to discuss the issues you're having with the adjuster?

Yes sir, sure did. Thats when they had upper management contact us for any questions. The result was pretty much "we are not changing our stance on this" Our Agent was not happy with the adjuster, but the agency had the adjusters back so to speak. Claiming he was in the right. Despite the underestimating the damage of the car by $8,000.
Member Since: February 2, 2010 Posts: 0 Comments: 1540
413. BobinTampa
3:04 PM GMT on April 12, 2011
ILwthrfan,
Have you contacted your State Farm agent to discuss the issues you're having with the adjuster?

Member Since: August 14, 2008 Posts: 0 Comments: 553
412. overwash12
3:03 PM GMT on April 12, 2011
Hurricanes heading for the gulf this season will surely put a damper on the economy,gas prices will be in the 5 to 6 dollar range IMO!
Member Since: June 24, 2007 Posts: 0 Comments: 1497
411. ILwthrfan
3:03 PM GMT on April 12, 2011
Quoting BobinTampa:


I work in insurance so I don't mind trying to help out a fellow wublogger. do you have the car back already? If so, is it running okay?




Your insight is greatly apprieciated! I didn't mean any disrespect to your profession. My agent unfortunately just doesn't have the power to do anything for us. The higher keepers are staying firm with thier initial reasoning. What they say goes unfortunately.

I have only drove the vehicle once and that was yesterday for about 5 minutes, so I didn't get a great feel for the car. Nor did I get a chance to use the 4,5,and 6 gear. They still have a tire to replace and I didn't want to put any strain on the old damaged one that was still on there. The car rode smooth but it seemed harder to turn left than right. And the point of impact was right on the left front tire.
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410. sunlinepr
3:02 PM GMT on April 12, 2011
NEW BLOG!!!
Member Since: August 2, 2010 Posts: 21 Comments: 9882
409. BobinTampa
3:01 PM GMT on April 12, 2011
Quoting Neapolitan:

Good morning. Well, they do get a donation of sorts courtesy of Florida's insurance commissioner allowing them to jack up rental property premiums by 62%. After all, we really need All State to remain "viable in the marketplace"--meaning that any net profit less than $5 million a day is simply unacceptable.

On another note, I'm going to try to no longer engage those who can't discuss things calmly and politely, and instead resort to name-calling whenever they sense they're on the wrong end of any disagreement. I was on debate squads all-through high school and college, and much as we wanted to do so at times, cursing at the opposing team was always frowned upon--even when the opponent was clearly winning.



you may want to go back and reread my initial post where basically all I did was ask questions. Then reread the tone of your response.

As for State Farm (not Allstate), they actually do lose money in Florida. Almost all homeowners insurance carriers do (mostly due to sinkhole claims). There are plenty of other options for State Farm's policyholders. If they choose to stay with State Farm because they trust the name, why would I care? If they choose a lower premium with another carrier, that's cool too.

State Farm is high on auto insurance here as well. But many people have been with them for years and don't want to switch. Even when the other option is a well-known carrier like Travelers or Hartford. That's their choice though and I don't begrudge them.

Member Since: August 14, 2008 Posts: 0 Comments: 553
408. aquak9
2:59 PM GMT on April 12, 2011
swoon
Member Since: August 13, 2005 Posts: 178 Comments: 26675
407. ILwthrfan
2:57 PM GMT on April 12, 2011
Anyways. Looks like Brownsville is knocking on the door to 80 degree water temps, meanwhile the gulf stream off Florida's east coast as spiked up to 86 degrees in Melbourne points south to Miami.

4/11/2011
Atlantic



4/11/2011
Gulf

Member Since: February 2, 2010 Posts: 0 Comments: 1540
406. sunlinepr
2:56 PM GMT on April 12, 2011
Income Gap Between Rich, Poor the Widest Ever
Census Bureau Finds Record Income Equality; Richest 20% of Americans Earn Nearly Half of All Nation's Income

(AP) The income gap between the richest and poorest Americans grew last year to its widest amount on record as young adults and children in particular struggled to stay afloat in the recession.

The top-earning 20 percent of Americans - those making more than $100,000 each year - received 49.4 percent of all income generated in the U.S., compared with the 3.4 percent earned by those below the poverty line, according to newly released census figures. That ratio of 14.5-to-1 was an increase from 13.6 in 2008 and nearly double a low of 7.69 in 1968.

A different measure, the international Gini index, found U.S. income inequality at its highest level since the Census Bureau began tracking household income in 1967. The U.S. also has the greatest disparity among Western industrialized nations.

At the top, the wealthiest 5 percent of Americans, who earn more than $180,000, added slightly to their annual incomes last year, census data show. Families at the $50,000 median level slipped lower.

"Income inequality is rising, and if we took into account tax data, it would be even more," said Timothy Smeeding, a University of Wisconsin-Madison professor who specializes in poverty. "More than other countries, we have a very unequal income distribution where compensation goes to the top in a winner-takes-all economy."

Lower-skilled adults ages 18 to 34 had the largest jumps in poverty last year as employers kept or hired older workers for the dwindling jobs available, Smeeding said. The declining economic fortunes have caused many unemployed young Americans to double-up in housing with parents, friends and loved ones, with potential problems for the labor market if they don't get needed training for future jobs, he said.

Rea Hederman Jr., a senior policy analyst at The Heritage Foundation, a conservative think tank, agreed that census data show families of all income levels had tepid earnings in 2009, with poorer Americans taking a larger hit. "It's certainly going to take a while for people to recover," he said.

The findings are part of a broad array of U.S. census data being released this month that highlight the far-reaching impact of the recent economic meltdown. The effects have ranged from near-historic declines in U.S. mobility and birth rates to delayed marriage and the first drop in the number of illegal immigrants in two decades.

The census figures also come amid heated political debate in the run-up to the Nov. 2 elections over whether Congress should extend expiring Bush-era tax cuts. President Barack Obama wants to extend the tax cuts for individuals making less than $200,000 and joint filers making less than $250,000; Republicans are pushing for tax cuts for everyone, including wealthy Americans.

The 2009 census tabulations, which are based on pre-tax income and exclude capital gains, are adjusted for household size where data are available. Prior analyses of after-tax income made by the wealthiest 1 percent compared to middle- and low-income Americans have also pointed to a widening inequality gap, but only reflect U.S. data as of 2007.

Among the 2009 findings:

--The poorest poor are at record highs. The share of Americans below half the poverty line - $10,977 for a family of four - rose from 5.7 percent in 2008 to 6.3 percent. It was the highest level since the government began tracking that group in 1975.

--The poverty gap between young and old has doubled since 2000, due partly to the strength of Social Security in helping buoy Americans 65 and over. Child poverty is now 21 percent compared with 9 percent for older Americans. In 2000, when child poverty was at 16 percent, elderly poverty stood at 10 percent.

--Safety nets are helping fill health gaps. The percentage of children covered by government-sponsored health insurance such as Medicaid and the Children's Health Insurance Program jumped to 37 percent, or 27.6 million, from 24 percent in 2000. That helped offset steady losses in employer-sponsored insurance.

The 2009 poverty level was set at $21,954 for a family of four, based on an official government calculation that includes only cash income. It excludes noncash aid such as food stamps.

Arloc Sherman, a senior researcher at the left-leaning Center on Budget and Policy Priorities, noted the effects of expanded government programs in cushioning the impact of skyrocketing unemployment. For example, the Census Bureau estimates that 3.6 million people would have been lifted above the poverty line if food stamps were counted - a number that would have reduced the 2009 poverty rate from the official 14.3 percent to 13.2 percent.

Sheldon Danziger, a University of Michigan public policy professor, said while the U.S. has developed policies to combat poverty, it has trouble addressing ever-widening income inequality - even with a growing federal deficit and previous warnings by former Federal Reserve Chairman Alan Greenspan about soaring executive pay.

An Associated Press-GfK Poll this month found that by 54 percent to 44 percent, most Americans support raising taxes on the highest U.S. earners. Still, many congressional Democrats have expressed wariness about provoking the 44 percent minority so close to Election Day.

"We're pretty good about not talking about income inequality," Danziger said.
Member Since: August 2, 2010 Posts: 21 Comments: 9882
405. BobinTampa
2:55 PM GMT on April 12, 2011
Quoting ILwthrfan:


Of course, but the adjuster was the head #*$& in charge. It didn't matter what we thought. He blew smoke up our pipe when we questioned any of the damages he priced out. It was just laughable with his reasoning on the tranny not being need to be tested or checked. Apprieciate the condolences, but I should probably stop crying about insurance. It is a weather blog, and I am bogging the blog down today with this... So apoligies to the crowd for that.


I work in insurance so I don't mind trying to help out a fellow wublogger. do you have the car back already? If so, is it running okay?
Member Since: August 14, 2008 Posts: 0 Comments: 553
404. ILwthrfan
2:50 PM GMT on April 12, 2011
Quoting eddy12:
ILwthr fan sorry to hear that but on the other side for all the damage you descibed didn't 7000 dollar seem a little cheap.


Of course, but the adjuster was the head #*$& in charge. It didn't matter what we thought. He blew smoke up our pipe when we questioned any of the damages he priced out. It was just laughable with his reasoning on the tranny not being need to be tested or checked. Apprieciate the condolences, but I should probably stop crying about insurance. It is a weather blog, and I am bogging the blog down today with this... So apoligies to the crowd for that.
Member Since: February 2, 2010 Posts: 0 Comments: 1540
402. ILwthrfan
2:42 PM GMT on April 12, 2011
Quoting eddy12:
Neo I have caught some of the facts you post on here to be false and never have you ever said I stand corrected if you dispute something I post here as false and can prove it I will admit I was wrong and thank you for correcting me that is how we get more knowledge.


Nobody's perfect but Nea gets his facts right as good as anyone else on this blog and he is always citing and linking his sources which enables the reader to come their own conclusions.
Member Since: February 2, 2010 Posts: 0 Comments: 1540
400. ILwthrfan
2:35 PM GMT on April 12, 2011
Quoting eddy12:
Ilwhtrfan what were your estimates?


$7,000 estimate. The actual bill as of now is up to $15,000. They are almost finished with it, but agian they are not even going to look at the tranny. Live and Learn I guess. Should of know better than to feed the Pig.
Member Since: February 2, 2010 Posts: 0 Comments: 1540
399. ILwthrfan
2:32 PM GMT on April 12, 2011
Quoting eddy12:
ILwthrfan I am guessing the reason they will not replace your transmission is because ford fusions have a bad tranny to begin with, many reports of people having problems with them from the get go.


They would not even check it, let alone fix it. I have heard about the Tranny problems,for the most part I thought most of those were associated with the 2009 Ford SE? I had put on 50,000 miles on it already and she's been a champion all the way mechanically since I've had her. I was never a big Ford fan, but when I first saw this car in the lot I was going to take it home.
Member Since: February 2, 2010 Posts: 0 Comments: 1540
398. Neapolitan
2:29 PM GMT on April 12, 2011
Quoting hydrus:
What a poor and poverty struck company..Maybe a donation or two will pull them out of there financial doldrums...:) Mornin Neap..

Good morning. Well, they do get a donation of sorts courtesy of Florida's insurance commissioner allowing them to jack up rental property premiums by 62%. After all, we really need All State to remain "viable in the marketplace"--meaning that any net profit less than $5 million a day is simply unacceptable.

On another note, I'm going to try to no longer engage those who can't discuss things calmly and politely, and instead resort to name-calling whenever they sense they're on the wrong end of any disagreement. I was on debate squads all-through high school and college, and much as we wanted to do so at times, cursing at the opposing team was always frowned upon--even when the opponent was clearly winning.
Member Since: November 8, 2009 Posts: 4 Comments: 13805
395. ILwthrfan
2:26 PM GMT on April 12, 2011
Quoting BobinTampa:


They still should have used all new parts. I've never heard of such a new car having to get parts from a junkyard.

I don't know how much them totalling the car would have helped you though unless you have the lease/loan gap coverage.


It was just the frame of the car that was scrapped from the junk yard. Everything else was given to them from the Ford Delearship. Except the frame they cut out of my vehicle
Member Since: February 2, 2010 Posts: 0 Comments: 1540
394. nrtiwlnvragn
2:25 PM GMT on April 12, 2011
Quoting DestinJeff:
I still think the first 'u' is a short one, and the second 'u' a long one in Fukushima ... but the media refuses -- I say, I say -- REFUSES to recognize proper Japanese pronunciation!

Anyway, the world was far less combative before the internet. Ever since they put the internet on computers it has been all downhill.

Gas prices are inconsequential. We will pay whatever the hell price they charge us. I haven't seen it mentioned today, but "tapping the Strategic Petroleum Reserves" is not a viable option.


SPR may have some affect if it was sold exclusively into the futures market and announced after hours. That would temporarily "break the back" of speculators, however would be damaging to legitimate users of the futures (trucking, airline companies). Some estimates place speculation as 20% of the current prices.
Member Since: September 23, 2005 Posts: 15 Comments: 11346
393. BobinTampa
2:24 PM GMT on April 12, 2011
Quoting ILwthrfan:


I had State Farm Insurance. Also the guy that hit me only had 25k in coverage. There was 8 vehicles involved in the accident. Problem is I commute a combined 100 miles back and forth to work everyday. The Ford Dealership in the town I work in didn't have an autobody repair shop. I had to either have it towed at my own expense at a 100 miles to the dealership I bought it at or find somewhere in town to fix it, that tow was included in my insurance.





They still should have used all new parts. I've never heard of such a new car having to get parts from a junkyard.

I don't know how much them totalling the car would have helped you though unless you have the lease/loan gap coverage.
Member Since: August 14, 2008 Posts: 0 Comments: 553
392. HaloReachFan
2:24 PM GMT on April 12, 2011
Quoting Neapolitan:

Fact A: the price of gasoline affects nearly every single segment of our society. When gasoline costs more, nearly everything else costs more.

Fact B: the more things cost during a fragile economic recovery, the less likely that recovery is to take hold, and/or the longer a full recovery will take.

Fact C: knowingly escalating gasoline prices in an effort to wring out even more billions in profit during such a recovery is, therefore, illogical--and more than a little unpatriotic.

Now, some can throw in the whole "but Big Oil provides employment for so many people" argument. Two things about that: a) most of those saying that are the same ones who complain the loudest about the size of government--and government is a far larger employer than all the oil companies combined, so that makes the argument a little less than honest. And b) those obscene profits are net profits; as such, I contend that roughly the same number of people would be employed by the oil industry were those profits not quite so obscene. That is, unless your argument would be that if, say, ExxonMobil only made $2,000,0000 net profit every hour, they'd be forced into making drastic personnel cuts--and then I'd simply say you were disconnected from reality.


The government is a whole different subject.

If you employee people there then you are really buying votes. HMMM

The whole city of Houston would shut down if you quit using Gasoline.

Just deal with it.

If you can't afford to pay for gas I would invite you to buy a bike or just start walking its way cheaper.

Going green actually loses jobs.

You can google that if you want.

Quoting BobinTampa:


No name calling at all. Just responding to the tone of Neo's post and pointing out how he comes across. He seems to assume that anyone he is debating is intellectually inferior to him based solely on the fact that they disagree with him.


That is truth!
Member Since: September 15, 2010 Posts: 1 Comments: 563
390. ILwthrfan
2:19 PM GMT on April 12, 2011
Quoting BobinTampa:


Was State Farm your insurance company or the company of the person that hit you? Did you take the car to the dealership to be repaired?

You have the right to take the car to the repair shop of your choice.


I had State Farm Insurance. Also the guy that hit me only had 25k in coverage. There was 8 vehicles involved in the accident. Problem is I commute a combined 100 miles back and forth to work everyday. The Ford Dealership in the town I work in didn't have an autobody repair shop. I had to either have it towed at my own expense at a 100 miles to the dealership I bought it at or find somewhere in town to fix it, that tow was included in my insurance.



Member Since: February 2, 2010 Posts: 0 Comments: 1540
389. hydrus
2:14 PM GMT on April 12, 2011
Quoting Neapolitan:

As I said yesterday, State Farm made a measly $1.8 billion in profit in 2010, and that's not much more than double their profit for 2009. How is a company supposed to make do on a lousy $4.93 million in daily profit? How can it possibly "remain viable in the marketplace" on a paltry profit of only $205,000 an hour? $3,400 a minute?

Thank God the state's insurance regulators saw fit to look out for State Farm. One shudders to think of what would happen without that 62% premium increase for owners of rental properties...
What a poor and poverty struck company..Maybe a donation or two will pull them out of there financial doldrums...:) Mornin Neap.. They have paid out a lot of money the past 15 years or so with all the natural disasters that have occurred..
Member Since: September 27, 2007 Posts: 1 Comments: 22707
388. BobinTampa
2:13 PM GMT on April 12, 2011
Quoting ILwthrfan:


2010 Ford Fusion Sport. 35mpg


Was State Farm your insurance company or the company of the person that hit you? Did you take the car to the dealership to be repaired?

You have the right to take the car to the repair shop of your choice.
Member Since: August 14, 2008 Posts: 0 Comments: 553
386. Orcasystems
2:10 PM GMT on April 12, 2011
Complete Update





Member Since: October 1, 2007 Posts: 81 Comments: 26516
385. BobinTampa
2:10 PM GMT on April 12, 2011
Quoting MrMixon:


But you said yourself that there is a limit to how much profit you'd consider appropriate. I believe you said if Exxon made $40 billion and "they have $80B in revenue and that's their profit, I'd agree with you."

So, it seems to me that you two simply disagree on the number, not on the principle. You and Nea maybe aren't as different as you think...

(Tip: name-calling rarely convinces the other side to see your point of view and, aside from maybe a few of the teenagers in the room, impresses no one...)


No name calling at all. Just responding to the tone of Neo's post and pointing out how he comes across. He seems to assume that anyone he is debating is intellectually inferior to him based solely on the fact that they disagree with him.
Member Since: August 14, 2008 Posts: 0 Comments: 553
384. ILwthrfan
2:09 PM GMT on April 12, 2011
Quoting eddy12:
ILwthrfan what kind of car do you have?


2010 Ford Fusion Sport. 35mpg
Member Since: February 2, 2010 Posts: 0 Comments: 1540
383. PlazaRed
2:06 PM GMT on April 12, 2011
Quoting BobinTampa:


your math is wrong. it would be $123.45 per person. And that doesn't factor in profits from overseas operations. So the total number is much less than that.


Thanks for putting me right on that one I was not too sure how you work out the millions and billions.

Still a good profit per person though,I'd have been very happy with it if I was a MD.

$123.45, Even stranger sequence!
Member Since: January 21, 2011 Posts: 0 Comments: 2189
382. nrtiwlnvragn
2:05 PM GMT on April 12, 2011
Quoting BobinTampa:



I would ask what percentage of total revenues does this profit represent. It they have $80B in revenue and that's their profit, I'd agree with you. But if that is 3% of their total revenue, then I'd disagree.

Exxon employs tens of thousands of people, many pension plans and stockholders benefit greatly from a healthy Exxon, etc. Overall, I'd say they're more of a help to the economy than a hindrance.

Also, when you factor in how many gallons of gas Exxon sells per year, I'm guessing the per gallon cost of that profit wouldn't help our bottom line all that much.


Exxon 2010 Annual Report

Excerpts from pages 99-100

US Sales = 115.906 Billion
US Income Before Taxes = 7.711 Billion
US Federal Income Taxes = 1.319 Billion
US Federal Income Tax Rate = 17.1%

Non US Sales = 254.219 Billion
Non US Income Before Taxes = 45.248 Billion
Non US Income Taxes = 19.902 Billion
Non US Income Tax Rate = 43.9%
Member Since: September 23, 2005 Posts: 15 Comments: 11346
381. MrMixon
2:05 PM GMT on April 12, 2011
Quoting BobinTampa:


why so angry Neo? No wonder people think you come off as a condescending pr--k. What is an acceptable profit that you think Exxon should make? And, how much would that effect the cost of living?

Also, how much of Exxon's profit comes from American gasoline sales and how much from abroad?

The government employee argument is pretty ridiculous. If you can't figure out the benefits of private sector employees v. government employees than you're the one who is detached from reality.




But you said yourself that there is a limit to how much profit you'd consider appropriate. I believe you said if Exxon made $40 billion and "they have $80B in revenue and that's their profit, I'd agree with you."

So, it seems to me that you two simply disagree on the number, not on the principle. You and Nea maybe aren't as different as you think...

(Tip: name-calling rarely convinces the other side to see your point of view and, aside from maybe a few of the teenagers in the room, impresses no one...)
Member Since: March 26, 2006 Posts: 44 Comments: 1520
380. BobinTampa
2:02 PM GMT on April 12, 2011
Quoting PlazaRed:

Just a note,as I haven't seen anybody else comment on it but:-

If you have a profit of 39.5 Billion,

You have a population of about 320, Million.

Then you divide the profit by the population of the USA?

Then according to my abacus which might be a bit faulty on these huge numbers,then you get a profit of about. $1234, / head of the USA.{strange sequence,}

I think I got all the nought's in the right places and the us values for these numbers.


your math is wrong. it would be $123.45 per person. And that doesn't factor in profits from overseas operations. So the total number is much less than that.
Member Since: August 14, 2008 Posts: 0 Comments: 553
378. PlazaRed
1:56 PM GMT on April 12, 2011

Just a note,as I haven't seen anybody else comment on it but:-

If you have a profit of 39.5 Billion,

You have a population of about 320, Million.

Then you divide the profit by the population of the USA?

Then according to my abacus which might be a bit faulty on these huge numbers,then you get a profit of about. $1234, / head of the USA.{strange sequence,}

I think I got all the nought's in the right places and the us values for these numbers.
Member Since: January 21, 2011 Posts: 0 Comments: 2189
377. Chicklit
1:42 PM GMT on April 12, 2011
Good Morning, Wunderfriends, according to this article, just because Fukushima is now at Defcon 7 (the worst), they're going to continue doing things the way they have been:

"Even before this, we had considered this a very serious incident so, in that sense, there will be no big change in the way we deal with it just because it has been designated level 7," an agency official said.

....hmmm....
Link
Member Since: July 11, 2006 Posts: 14 Comments: 11424
375. Neapolitan
1:33 PM GMT on April 12, 2011
Quoting BobinTampa:



I would ask what percentage of total revenues does this profit represent. It they have $80B in revenue and that's their profit, I'd agree with you. But if that is 3% of their total revenue, then I'd disagree.

Exxon employs tens of thousands of people, many pension plans and stockholders benefit greatly from a healthy Exxon, etc. Overall, I'd say they're more of a help to the economy than a hindrance.

Also, when you factor in how many gallons of gas Exxon sells per year, I'm guessing the per gallon cost of that profit wouldn't help our bottom line all that much.

Fact A: the price of gasoline affects nearly every single segment of our society. When gasoline costs more, nearly everything else costs more.

Fact B: the more things cost during a fragile economic recovery, the less likely that recovery is to take hold, and/or the longer a full recovery will take.

Fact C: knowingly escalating gasoline prices in an effort to wring out even more billions in profit during such a recovery is, therefore, illogical--and more than a little unpatriotic.

Now, some can throw in the whole "but Big Oil provides employment for so many people" argument. Two things about that: a) most of those saying that are the same ones who complain the loudest about the size of government--and government is a far larger employer than all the oil companies combined, so that makes the argument a little less than honest. And b) those obscene profits are net profits; as such, I contend that roughly the same number of people would be employed by the oil industry were those profits not quite so obscene. That is, unless your argument would be that if, say, ExxonMobil only made $2,000,0000 net profit every hour, they'd be forced into making drastic personnel cuts--and then I'd simply say you were disconnected from reality.
Member Since: November 8, 2009 Posts: 4 Comments: 13805
373. ILwthrfan
1:26 PM GMT on April 12, 2011
Quoting BobinTampa:



I would ask what percentage of total revenues does this profit represent. It they have $80B in revenue and that's their profit, I'd agree with you. But if that is 3% of their total revenue, then I'd disagree.

Exxon employs tens of thousands of people, many pension plans and stockholders benefit greatly from a healthy Exxon, etc. Overall, I'd say they're more of a help to the economy than a hindrance.

Also, when you factor in how many gallons of gas Exxon sells per year, I'm guessing the per gallon cost of that profit wouldn't help our bottom line all that much.


How about 383 billion in the year 2010. Oh this will help isolate the problem a little better too.

Link

"This trend continues today.

Between 1992 to 2007, the last year included in the data, the income of the 400 richest Americans rose 637% to the average $345 million mark. During that same period, their effective tax rate declined by over one-third, from a peak tax rate of nearly 30% to 16.6%. Meanwhile, their share of all adjusted gross income increased from 0.52% to 1.59% over that same period. In other words, in a nation of over 300 million people, the 400 richest Americans accounted for nearly 1.6% of all income earned in 2007.
See full article from DailyFinance"



This graph also over-exagerates the average of everybody else. There are better graphs on the link.

Member Since: February 2, 2010 Posts: 0 Comments: 1540
372. BobinTampa
1:16 PM GMT on April 12, 2011
Quoting Neapolitan:

There's nothing wrong with making a healthy profit, of course; that's why corporations exist. But there's something depressingly familiar and anti-patriotic about making such obscene profits at the expense of the nation's economic recovery. You can call it free-market capitalism if you wish--but I call it old-fashioned greed. Greed by the oil producers, greed by the oil traders.

(Of course, here's where someone will step in to tell us again that government makes more from oil than the oil companies do. That's debatable, but even if absolutely true, how does that in any way absolve those becoming hugely rich off the backs of others? Simply put, how are tens of millions of dollars per hour in net profit justified when so many are hurting economically?)



I would ask what percentage of total revenues does this profit represent. It they have $80B in revenue and that's their profit, I'd agree with you. But if that is 3% of their total revenue, then I'd disagree.

Exxon employs tens of thousands of people, many pension plans and stockholders benefit greatly from a healthy Exxon, etc. Overall, I'd say they're more of a help to the economy than a hindrance.

Also, when you factor in how many gallons of gas Exxon sells per year, I'm guessing the per gallon cost of that profit wouldn't help our bottom line all that much.
Member Since: August 14, 2008 Posts: 0 Comments: 553
371. ILwthrfan
1:15 PM GMT on April 12, 2011
Quoting Neapolitan:

There's nothing wrong with making a healthy profit, of course; that's why corporations exist. But there's something depressingly familiar and anti-patriotic about making such obscene profits at the expense of the nation's economic recovery. You can call it free-market capitalism if you wish--but I call it old-fashioned greed. Greed by the oil producers, greed by the oil traders.

(Of course, here's where someone will step in to tell us again that government makes more from oil than the oil companies do. That's debatable, but even if absolutely true, how does that in any way absolve those becoming hugely rich off the backs of others? Simply put, how are tens of millions of dollars per hour in net profit justified when so many are hurting economically?)


I guess it will always boil down to the ethics of man, which just leaves too much to be desired. To me, greed has always been man's strongest quality. We always want more often times not thinking of the repercussions of what it may bring to others.

Sarcasm flag...lol Maybe the whole "2012" idea is turning point in a way that we WILL obliterate ourselves if we do not change the way we do some of things we do here on earth. One of the positives that we can take away from this Japan crisis is that we can learn from it. We are posioning the earth in so many horrid ways. It will catch up to us.
Member Since: February 2, 2010 Posts: 0 Comments: 1540
369. aquak9
1:02 PM GMT on April 12, 2011
postt 366- JASON

you have to give credit to people when you copy their work. Tell the name of the person who wrote that.
Member Since: August 13, 2005 Posts: 178 Comments: 26675
368. Neapolitan
12:59 PM GMT on April 12, 2011
Quoting ILwthrfan:
"HOUSTON (AP) - Oil giant Exxon Mobil Corp. on Thursday posted the largest annual profit by a U.S. company%u2014$39.5 billion%u2014even as earnings for the last quarter of 2006 declined 4 percent. The 2006 profit topped Exxon Mobil's own previous record of $36.13 billion set in 2005."



Link

39.5 billion??? One Oil Company. Thats just for 2007. These numbers are there every year.

There's nothing wrong with making a healthy profit, of course; that's why corporations exist. But there's something depressingly familiar and anti-patriotic about making such obscene profits at the expense of the nation's economic recovery. You can call it free-market capitalism if you wish--but I call it old-fashioned greed. Greed by the oil producers, greed by the oil traders.

(Of course, here's where someone will step in to tell us again that government makes more from oil than the oil companies do. That's debatable, but even if absolutely true, how does that in any way absolve those becoming hugely rich off the backs of others? Simply put, how are tens of millions of dollars per hour in net profit justified when so many are hurting economically?)
Member Since: November 8, 2009 Posts: 4 Comments: 13805
367. ILwthrfan
12:56 PM GMT on April 12, 2011
Quoting RastaSteve:
If you dis like your insurance company then it's easy switch to someone else. We had Statefarm and let me tell you they cancelled our insurance because we have a beach house on the beach and didn't tell us about it. We found out because we tried to pay our bill and was notified that we were dropped because it's such high risk having an house on the beach.


Insurance is such a scam. They want your money, but the heck with you if something happens to your asset that you paid to have insured. No that goes to State Farms 1.8 billion dollar profit.

I just got screwed out of $15K on my vechicle because the refuse to total it. The accident wasn't my fault. They tell me it's still worth $23K, but the computer system, front axle, left driver's side door, and a 5 by 5 foot section of my car frame FROM ANOTHER CAR in a junk yard all had to be replaced. They refuse to test my transmission. They told me steel transmissions are undestructable. My car wouldn't shift gears after the accident. I am happy that this adjuster was telling me this over the phone, if I had been face to face with the SOB, I'd have assualt charges pressed on me.
Member Since: February 2, 2010 Posts: 0 Comments: 1540

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Jeff co-founded the Weather Underground in 1995 while working on his Ph.D. He flew with the NOAA Hurricane Hunters from 1986-1990.

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