Rich Man, Poor Man.

From CNN:

Item 1:

The nation's economy slammed into reverse in the third quarter and suffered its biggest decline in seven years, according to a government report Thursday.

The gross domestic product, the broadest measure of economic activity, fell at an annual rate of 0.3%. That compared with a 2.8% growth rate in the second quarter, when growth was boosted by economic stimulus checks and strong exports.

The third quarter decline wasn't quite as bad as experts had forecast. Economists surveyed by Briefing.com had estimated GDP would plunge 0.5%.

Still, the latest report is yet another warning sign of recession and marked only the fifth quarter in more than 17 years in which GDP fell below zero. The report, which covers the three months that ended Sept. 30, did not reflect the full impact of the recent crisis in financial and credit markets.

Item 2:

Exxon Mobil Corp. set a quarterly profit record for a U.S. company Thursday, surging past analyst estimates.

Exxon Mobil (XOM, Fortune 500), the leading U.S. oil company, said its third-quarter net profit was $14.83 billion, or $2.86 per share, up from $9.41 billion, or $1.70, a year earlier. That profit included $1.45 billion in special items.

The company's prior record was $11.68 billion in the second quarter of 2008.

The latest quarter's net income equaled $1,865.69 per second, nearly $400 a second more than the prior mark.

The company said its revenue totaled $137.7 billion in the third quarter.

Analysts had expected Exxon to report a 40% jump in earnings to $2.38 per share, or net income of $12.2 billion, and a 28% surge in revenue to $131.13 billion, according to a consensus of estimates compiled by Thomson Reuters.