ConocoPhillips, the Texas corporation that is destroying the historic Union 76 Ball for no good reason, just posted another record-breaking quarter's earnings. Maybe they are embarrassed about how much money they are making: if you or I had made THREE BILLION DOLLARS and change, would we describe it as THREE THOUSAND MILLION DOLLARS, as in the press release quoted below?
With gas prices so high, this consumer sees no reason to fill up where the 76 Ball has been so rudely ripped down. Local independent retailers often have better prices, and they have no history of disrespecting a beloved California icon. Poor ConocoPhillips... all that money, but it can't buy good taste or good sense.
HOUSTON, April 26, 2006 -?? ConocoPhillips [NYSE:COP] today reported first-quarter net income of $3,291 million, or $2.34 per share, compared to $2,912 million, or $2.05 per share, for the same quarter in 2005. Total revenues were $47.9 billion, versus $38.9 billion a year ago. During the quarter, the company reinvested 141 percent of its net income into the development of oil and gas resources and its global refining business, excluding the acquisition of Burlington Resources.
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We, the undersigned, as consumers with an abiding fondness for the striking, historic and uniquely Californian blue and orange ball-shaped Union 76 logo, be it on tall metal poles or car antennae (since 1967), hereby call on ConocoPhillips to reconsider their alteration of the 115-year-old brand, to cease replacing spherical blue and orange 76 balls at gas stations with flattened blue and red disks, and to restore the beloved spheres to the poles where they belong. If ConocoPhillips does not demonstrate greater respect for the the history and goodwill associated with the blue and orange 76 ball, we will be taking our business to other gas sellers.
This petition is being launched on January 31, six days after ConocoPhillips posted fourth quarterly earnings of $3.7 Billion, and we call for a sincere response to our concerns before the announcement of their next second quarterly earnings.