i think what, what it said to exxonmobil or exxon at the time, exxon corporation were a couple of things. one that that incident as remote as it was, because of the way in which that incident would be perceived, by people everywhere, that had a huge impact then on the company, its reputation, and a huge impact on its employees elsewhere. so how we dealt with that was extremely important to first and foremost our own integrity, the integrity of our employees, the integrity of our company. and the take away from it was, something this simple should not have happened. and so why did it happen. and some of it has to do with people's mind-sets. and some of it has to do with comprehensive systems and operating processes. and all of that was dealt with when the people running the company 20 years ago created what today is known as the operations integrity management system 59 exxonmobil. and that was put in place 20 years ago. it's been continuously improved and today it serves as a template for most of the other people in the industry. >> i think warren buffett said you can spend a lifetime bu

the state governments are exxon mobil and the truth is it's not exxon mobil it's exactly looking around and saying loose loading up their pockets and filling it up with all money it's big government is a loyalist whose oil is it acts on our land has bought it from various people they have bought the rights to expect it you are or is that you have done a masterful job as morris of what you try to do every time you're on this program which is change the subject we're talking about the ryan budget. the ryan budget is cutting taxes to the to the rich and hallelujah and get anywhere but here it's a right in your mind and give it and screw him poor people and poor people are so screwed in america that they have x. boxes and spinning wheels and cattle to cable t.v. look i've lived in china i've traveled in twenty two countries in africa and i've never seen anything remotely close to what we define as poor go to those countries tom and look at poverty i have been in and worked in liaison in this country now what they want this country to be we don't know where you live that that's our job or yo

exxon says it is "disappointed" with the report's findings. a "seed settlement" has been reached between monsanto and dupont. both companies are in the business of developing genetically-modified seeds. under an agreement, a $1- billion jury verdict against dupont for infringing on monsanto's patent will be dropped. dupont will be able to use monsanto techonogoly in its own corn and soybean seeds, but will pay $802 million in royalties. supervalu is letting go of 1100 employees. the grocery store operator will cut positions after competition from wal-mart and target's grocery sections resulted in slower sales. last week, supervalu sold off five grocery store chains, including jewel-osco and acme, in a $100- million deal with cerberus capital managment. the company said the deal will help supervalu be more competitive going forward. a new nike ad featuring tiger woods is causing uproar. monday, tiger shot his way back to being the top-ranked golfer in the world with a win at the arnold palmer invitational. nike pounced on his renewed position w

so we expect exxon to continue doing that. it's p/e ratio is only a nine. so this company should continue producing for investors for a long time. >> tom: a single-digit ratio there. you don't see that with big companies. how about wells fargo. with the housing market rebounding yao seen the stock rebound, too. >> that's right. and one of the more solid of our large banks when it comes to our financial structure. this isn't a company that has been caught up, at least not as badly, in the huge mortgage write-offs. we have not seen questions about its very survivability. i think we have a player here that will be profitable. >> tom: it's seen a lot of activity with that refinance business we've seen over the last several months. let's go back to your previous picks, you liked wal-mart down about 4%, and the travers company up 17.fief% and you still like wal-mart despite the fact you haven't made profit yet. why? >> wal-mart, if you remember, not only was it profitable when the economy was expanding, but when the late recession occurred late 2008, into 2009, w

and they'll always say, "well, exxon mobil or chevron or b.p." but i'll say, "no, morgan stanley." [ticking] >> this is shaybah, a desert wilderness where temperatures can reach 135 degrees. beneath these sand dunes lie 18 billion barrels of oil, more than four times the proven reserves of alaska. and it's costing billions and billions to tap into it. with all the talk about kicking our addiction to foreign oil, the kingdom of saudi arabia is doing everything it can to keep the oil age going. let me be blunt: is it your hope to prevent a switch away from oil? somebody said the country is the oil business. i mean, you absolutely need to do this for your own survival. >> and what's wrong with that? [ticking] >> when the u.s. oil companies came here in the '40s and '50s, the americans moved into the area with their families and developed it to suit their tastes and their way of life. they created a replica of american suburbia. today you could be in the outskirts of houston or los angeles. it's almost like it's an enclave within saudi arabia. it's--different from the rest of the count

the gas and they're going to have thirty percent of the contracts seventy percent will stay with exxonand it's a huge deal as you know two biggest oil companies in the world as this was all details on this one now the two ahead. igor sechin and exxon's steven greenly they've signed the papers as seismic analysis is said to be already underway some will retain a seventy percent stake and put three point two billion dollars towards the operation exxon maybelle partnering with the gas america shelf unit will remain the main operator in the blocks covering over one hundred thousand acres in the region and this is just the latest in a series of joint ventures between the two. oil tight now it is indeed a fish surely a woman stay here in moscow now both so from now on the business by the end it's going to be all about women and the celebration of women in business all right ok and no chance for any men to have their say no well nothing in the middle east you know we know that all right thank you very much. be back with more news just put it in about twelve minutes from now. wealthy british s

i don't expect exxon to say anything that could reverse the trend. they might see good news in natural gas but remember exxon does not believe that natural gas is going to be a major surface vehicle fuel. effects, by the way, i think they can transform the american trucking industry overnight by providing natural gas engines, but don't count on their support. the biggest news, next week, comes on friday. when we get the labor department's february employment report, payroll report, 8:30. one of the themes about this hose historic front is that they will have to take away the bond program. the bond issues that help keeps interest rates low that support stocks. i cannot tell you how many countless dollars have been left on the table by investors who are just plain scared out of their wits about this problem of unwinding the program. how do we get out of this? many of the thinkers you hear from believe this is the transcending moment. how can the fed end it? what about the collapse of the stock market? we have had a lot of moment in the way up when the

exxon shares flat today. >>> disney ceo bob iger in the hot seat today at the company's annual meeting. activist shareholder groups questioned his dual roles as ceo and chairman and carped about his compensation. iger took home more than $40 million last year, but most shareholders gave him the thumbs up for boosting disney stock by 138% during his tenure. the activists lost on every issue. disney shares lost 12 cents, down from yesterday's all-time high. >>> shares of staples tumbled today, even though it reported better than expected quarterly earnings. it beat by a penny, but revenues came in lower than expected, and the office supply retailer also warned that four-year earnings will come in lower than expectations. the stock got slammed, down 7% to $12 and change. >>> an icon to dell, not so fast, financier carl icahn reportedly taking a 6% stake in the computer-maker dell. reports are that he doesn't really love founder michael dell's plan to team with a private equity firm and take the company private. icahn favors a different tact and has a different company, southeastern compan

my question to you is this, how does exxon fit into that picture? >> yeah, you know, i've got to tell you, ed, exxon is a very big worldwide levered company that did overpay for xto, one of our favorite companies, mr. simpson put it together, but it's not a natural gas play. the natural gas plays are southwest energy, capital oil and gas, range resources, and to a lesser degree, conoco, every one of those better than exxon. we are not the world, people. we are not europe's children. although, many will act like it tomorrow with eyes on cyprus. so when they are selling cyprus, look at costco, look at radian, look at generous mills and pick up some pinnacle foods. "mad money" will be right back. >>> coming up -- positive prognosis? all week cramer's looking at the best in biotech. it's the companies on the cutting edge of medical science. tonight fda approval for a new treatment sent this stock soaring today. but is it headed even higher? >>> and later, on the button, from calvin to tommy, the stock of clothing kingpin pvh was strutting its stuff but

exxon is one of the last aaa rated companies. they pay dividends. people look at the retirement funds they are invested in it for a reason. it is a stupidest thing, even they use fossil fuels at some point of a day, or to go to a phish concert or get on the ipad. they all use it. the oil companies, they pay a lot of taxes. they fund the welfare state. this is unfair to future students to do this to financial health. >> eric: i think it will be hilarious instead of investing oil companies, exxon mobil is up 9% a year, go ahead and invest in solar companies. see how that works out over the history they go from here to zero over the period of time. honestly they c more stupid to out of oil and some of the alternatives. >> greg: 72% of the student body at harvard voted to demand divestment. >> you can't get 70% of people to agree on a mother's day resolution. oh, yes, we are the generation better than all others and not use any oil. >> its cause until they get their internship at their dad's law firm. >> they are getting lazy. they don't want to go to o

on and give us all these oil and gas on all these too though we are supposed to be surviving from exxon you think there's something any of us who not only wouldn't want money what would you do with a we how would you and i need to feed dr king so that is why we decided no to going to fight for our rights you see to the bone million times i would die for you know short of full and tell myself to fight for the last three years you not done it will no doubt die as we start for gastro and i believe i will know what i'll know about we are close allies where i marked out what you were up into. a big line i couldn't. fathom what i was too much i must see by saying something if you say anything against him you need to have nothing to save you there are so many dead bodies and understood that dick keyed that would have been any doubt on the soundest that he saw all. if you had any bad news from you from you that day it's. one of the to keep. a lot of books written. don't worry whoever shot the gun i'll break his skull. mustard chairman. who fired the gun. it was ten ten the fire the gun punishme

give the terms how they are negotiated i really don't think, exxon, conoco, they will not go rushing they don't need to at this point. melissa: it is so tempting though, i mean, they are so rich with oil resources. i mean they had rafael ramirez go to the last opec meeting and stand there how they have more natural resources than saudi arabia. with oil getting harder and harder to find around the world it is just too tempting of a morsel. jeff, who do you think the has the best chance to get in there even though as stephen said, that's right, it is a big gamble, that is huge pot of treasure there? >> not all the private companies left. a lot of them stayed and had to accept minority status in joint ventures with the national oil company there. what they found, that company, the oil company is increasingly mismanaged it can not meet its part of the bargain. it can go into a partnership but it has to put up money, it has to put up some technology and it is not doing what it signs contracts to do. the people who are finding this out in a very big way right now were the chinese. who have

exxon mobil and the chinese cineplex of already got their hands on the bulk of it. at last we reached bastrop where the euphrates and the tigris meet. travel is once called the city of venice of the south. who comes to kill us and destroy our country and good if all we said that the americans but the americans have gone and now my general so who else is continuing the job of a that nobody knows of there's no work and the situation is unlivable i say yes it was better before. conversely if we talk about security and civic respect we can say it was a hundred percent better under saddam. today there's no respect for the citizens and as if we were no longer men that's the truth that's honestly what i feel for ya . we are less and less respected before in iraq you could walk this head held high anywhere in the world and especially at home as long as the state was not affected or undermined things have changed a lot i can tell you that the situation was much better before. the venice of the self is awash with detritus of all kinds half of the inhabitants are unemployed it

for the exxon valdez oil spill, which exxon fought over number of years and ended up being cut to half a billion dollars. host: the trial kickoff last week and continues this week, monday through thursday is when they will hear testimony. how did it go the first week? is there any talk of possibly coming to some sort of agreement? guest: like i said, that's really hard to say. once a trial starts, a case can settle at any moment, before or after a trial starts, especially a civil case. so you have to assume that settlement sarks are continuing as the golan. but once they actually get started and they do their opening statements and start moving into testimony, at least the people that are in the courtroom, that is their focus. whoever the negotiators are, they may be elsewhere in washington and not in new orleans, they may be elsewhere doing what they are doing. but the people that are in the trial, they're focused on the trial, the task and hand. host: thank you very much for the update on the trial. guest: thank you. host: now return to john felmy, the chief economist for the america

exxon, apple, other companies like att are experiencing 10 to 15% a year, investors like that. >> austan, we say president bhaum meet with several house members in the last week. is there a new era in d.c. with both sides actually talking to each other? is there any hopes for a grant bargain? >> i don't know about the part of the grand bargain, they are getting along better, they're having breakfast together, they're having dump together. but i think themen voter is very conflicted by titlement cuts, increases to taxes or other cuts in government spending, you probably saw the recent government spending where they west through 20 categories of spending that voters say we ought to reduce spending in that area, so as long as the voters are conflicted in their own minds, they're going to have dinners and breakfasts together, they're doing to get along a little bit better, but the grand bargain is not going happen. >> from what i saw the president was highlighting a bunch of specific case where is he thought it would harm things, i do think this was nowhere near as big and negative as the fi

nicaragua would refine the oil because ortega took over exxon's refinery in managua. they sell the gasoline to the poor nicaragua people at 7 to $8 a gallon and split the profits. this is what the humanitarian chavez did. it has to be emphasized again and again for all e bull about this buy being such a humanitarian, giving away so much of his wealth, he set up these phony shell companies throughout latin america he got rich on. we don't know where those bank accounts are but you can bet somewhere in switzerland or elsewhere in the world there are bank accounts his family can draw an for the next 100 years. melissa: as you drive around the country you see how the people live as opposed how he lives. >> right. melissa: you see the shanties and shacks in the mountains and makes you wonder can someone step into the void and still control the country in the same way? because you talk about his charisma in the wake of the bolivar revolution? >> first time i met him i was actually in a jail cell. i wasn't in the jail cell. he was. melissa: thank you for correcting that. dav

that's a problem there. >> exxon, anybody? >> that's one of the only ones on the list besides microsoft that's tempting. i haven't done anything. >> what's the risks of the bull market rally? chief international correspondent michelle caruso-cabrera is here with that. >> the quality of the underlying fundamentals, a lot of people say the biggest critics of the rally say this is driven by ben bernanke and looking at the actual underlying economy, the fundamentals aren't that good and some point people wake up to that. how much do you pay for not such a good quality or low quality earnings? next issue, the middle east. and the potential threats that could happen there. especially in the wake of the arab spring and turned in to an arab winter and fall. call it, unsettling. do you have some kind of major disruption to oil supplies due to a terrorist event? that would be incredibly destabilizing. europe, stephanie talked about how bad it is in europe. ecb papered over a lot of situation with maybe a banking crisis but many people w

, exxon, if it went to 140, a 55% increase from where it is right now, that's 25 points in the s&p 500. that would be a new high. my point here is that moves here in individual companies that are so large would hit new highs, that's an indication we're not far away. only 1.5%. a lot of push back today to keep advancing here. a lot of people just said too far, too fast. the s&p is up 8% year to date. a lot of people who believe the six-month cycle. best six months topping out in april. the market, bull market, now four years old. a lot of people point that had out to me today. maria, back to you. >> thank you so much. meanwhile, a winter storm that hit the middle part of the country is hitting the northeast now wreaking havoc. and weather could mean stormy days for certain stocks and we'll meet the man responsible for making these google glasses profitable. google's chief business officer nikesh arora. >> not everybody is sharing about the dow's record high. meet an economist who says despite the rally we're all in a full-blown recession, not headed for a recession but we're in it. he s