Saturday, December 29, 2012

Apple jobs

Apple employs 47,000 direct jobs here in the US and 700,000 jobs overseas. Exxon Mobil employs 31,000 in the US and 52,000 overseas. In 2011 Apple had total sales of 108 billion and profit before tax of 28 billion and profit is 25% of sales. Exxon had total sales of 470 billion and profit of 32 billion and profit is 7% of sales. The way to increase your profit margin is to have more overseas employees and pay them less. Apple employees in China earn on average 51 cents per hour. Apple seems to get lots of favorable publicity while Exxon is the evil empire gouging us at the pump. What gives here?

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