Maybe we should let china have unocal

[peilthetraveler]

So im looking at UCL's books...Im no accountant but something looks fishy I noticed that they somehow cut selling/general/administrative costs by over 80% in one year. Previous 2 years the costs were over 1.5 billion each and then all of a sudden costs are 260 million. Im thinking there pulling an "enron" going to cash out to the chinese right before the company goes broke and they are going to save the stockholders. If you assume the admin costs were the same as the previous years then unocal would actually be looking at a 600 million dollar loss for 2003 instead of a 600 million dollar profit. Ask anyone how to cut 80% out of there admin costs WITHOUT losing revenue and the only answer i would be able to come up with is some kind of accounting trickery. But like i said...Im no accountant and im sure somebody has a really good excuse as to how costs could be cut so dramatically. We live on the bigger fool theory China is pretty big.

 

[sKaLpZ]

Quote from peilthetraveler:

So im looking at UCL's books...Im no accountant but something looks fishy I noticed that they somehow cut selling/general/administrative costs by over 80% in one year. Previous 2 years the costs were over 1.5 billion each and then all of a sudden costs are 260 million. Im thinking there pulling an "enron" going to cash out to the chinese right before the company goes broke and they are going to save the stockholders. If you assume the admin costs were the same as the previous years then unocal would actually be looking at a 600 million dollar loss for 2003 instead of a 600 million dollar profit. Ask anyone how to cut 80% out of there admin costs WITHOUT losing revenue and the only answer i would be able to come up with is some kind of accounting trickery. But like i said...Im no accountant and im sure somebody has a really good excuse as to how costs could be cut so dramatically. We live on the bigger fool theory China is pretty big.

when it comes to Chinese business deals, the USA is not in any position to "let" China do anything, nor prevent them.

It's a free world. There's nothing America's political or economic structure can do about it.

We could daytrade UCL tho.

 

[jficquette]

Quote from peilthetraveler:

So im looking at UCL's books...Im no accountant but something looks fishy I noticed that they somehow cut selling/general/administrative costs by over 80% in one year. Previous 2 years the costs were over 1.5 billion each and then all of a sudden costs are 260 million. Im thinking there pulling an "enron" going to cash out to the chinese right before the company goes broke and they are going to save the stockholders. If you assume the admin costs were the same as the previous years then unocal would actually be looking at a 600 million dollar loss for 2003 instead of a 600 million dollar profit. Ask anyone how to cut 80% out of there admin costs WITHOUT losing revenue and the only answer i would be able to come up with is some kind of accounting trickery. But like i said...Im no accountant and im sure somebody has a really good excuse as to how costs could be cut so dramatically. We live on the bigger fool theory China is pretty big.

They put them on the slave list.

John

 

[nazzdack]

You've got to sell Mortimer! Sell! Sell! Sell!-----Historically, foreign(Chinese) investors are notorious for buying our domestic(USA) industries at long-term tops. It makes more sense to buy oil-related assets when crude is ~$20/barrel instead of ~$60. Let those slant-eyed fools buy all they want up there!

 

[mschey]

Quote from sKaLpZ:

when it comes to Chinese business deals, the USA is not in any position to "let" China do anything, nor prevent them.

It's a free world. There's nothing America's political or economic structure can do about it.

We could daytrade UCL tho.

It is hardly a free world, and we can prevent china from buying up an american company!

 

[RXIS]

thats not cool nazz

 

[just21]

But should a government that can print unlimited amounts of money and fix it's currency at an artifcialial level be allowed to compete with a public company that has to live with the realities of a market economy?

China would have ended up with the Iraqi oil if the us had not invaded, why would the us let them buy it on the open market? the Great Game continues.

 

[murray t turtle]

Quote from mschey:

It is hardly a free world, and we can prevent china from buying up an american company!

=======

Amen ,USA is a free country, besides that;
we helped them get Kentucky Fried Chicken and
they like that yum yum taste, but do not give/sell them all our secret ingredients.

 

[originalskunk]

Quote from just21:

But should a government that can print unlimited amounts of money and fix it's currency at an artifcialial level be allowed to compete with a public company that has to live with the realities of a market economy?

This applies equally to both governments involved. They've worked out how to beat us at our own game.

 

[Rickshaw Man]

If they don't get their oil company the might start dumping their US notes.