EXXON CHAIRMAN GETS $400 MILLION RETIREMENT PACKAGE AMID SOARING GAS PRICES

ABC News via Drudge ^

[ConTex]

Why fun for you? you're getting creamed.

[stockstrader]

Wow...you truly ARE delusional...LOL

[stockstrader]

Wow...you truly ARE delusional...LOL

[ConTex]

Lay off the coke, you're hitting the replies too fast.

[the invisib1e hand]

risk/reward

people who don't take risks don't understand risk. or perhaps I should rephrase: people who don't consciously take risks do not understand risk (or reward); and many who do don't understand it.

[stockstrader]

Well, unlike you, I can think AND type at the same time. Thanks for the advice, though, it sounds like we FINALLY found something you know something about!!...Have a nice day.:)

[ConTex]

What?

[the invisib1e hand]

Lay off the coke, you're hitting the replies too fast.

Gentlemen, can't we all just get along?

[stockstrader]

Will someone please explain that one to him...lol

[aShepard]

Lessismore,

Absolutely correct, Exxon is a total global corporation, and I'm sure that their tax accountants are fuly aware of the situation.

If I may, I'd like to repost data that I should have included in my original post. Thanks for your accomodation!

---

So, Exxon is a "great company" under Raymond leadership???

Last year the company made $36 billion after tax.

??What did they do with that cash????

They spent $13 billion in property plant and equipment, about the same as in recent history. (their P&L notes they spent $964 million, down ($150 million), in exploration and the write off of dry holes

They spent $18 billion to buy back their own stock, which was trading at the highest prices in their history.

Why?? Because they couldn't find any better investment in the oil industry than retiring stock that was paying a 2.1% dividend. But, they could have invested the cash in Treasury investments that are yielding 4.5%! - for a rainy day

Why? Who knows, but the effect of buying back stock boosts the price of the shares, and Raymond was probably one of the biggest recipients of the higher stock price, in this, his retirement year.

??Why couldn't they have made a major investment in alternative energy sources, for the long term benefit of the company, if they weren't willing to invest to find a developable petro deposit??

Strong management - I think not!
A Company with vision - I think not!
A company that rewards current shareholders at their long term detriment - I think so!
A Company that rewards their retiring Chairman and President - BINGO!

[ConTex]

It's really not funny, you're like in some manic phase.

[stockstrader]

Wow, it looks like we just found a SECOND topic you can relate to!!...lol

[john drake]

I think it would be fairer to give shareholders (including himself) higher dividends over time for taking the risk of providing the equity capital in the first place. How much does a senior executive need to retire on? He was highly compensated to begin with, now he's taking no more risks or making risky decisions (other than maybe continuing to own so much stock). Sorry, no executive in my book, and I've met plenty of them, are worth this. If he owned the company himself (privately held) that's another story. As a small shareholder, I personally find the obscene compensation level of these guys insulting. Especially when they're holding down (controlling costs) of all the lower level employees and paying themselves a king's ransom. The board of directors should be ashamed as well, oh, I forgot, theyre all in the same country clubs. There's something not right about this, in particular, as more American jobs continue to be shipped overseas. It's smacks of "I got mine, so F*$# Y@!". Not the kind of thinking or actions that are beneficial to the American economy, or people, in the long run, don't you think?

[aShepard]

........It ain't as if this guy were a Bill Gates type who was instrumental in creating the company..........

BINGO!!!

[Young Scholar]

The oil companies or more of a drain on the American economy than an asset because they drive up the costs for almost every other business in the country.

Definitely. Let's nationalize them, and make their executives switch to a job where they do an honest day's work on an oil rig or something for the first time in their lives. And if they refuse they can give back all their bonuses since 2000, when they first started gouging American consumers.

[jennyp]

I wonder if Raymond will break down in abject apology and beg the world for forgiveness like GE's Jack Welch, or stand firm and proudly declare he was worth his severance package like NYSE's Dick Grasso?

I can discern no clear message from this clever post. Are you demonizing Welch along with the popularly demonized Grasso? Or being poetic? For starters, Grasso's compensation is no one's business but his and the NYSE's -- it was privately held at the time.

Oh, we're on the same page on this issue. Poetic? That's for you to decide. :-)

[ConTex]

I don't relate, but I do recognize. Little bit too out there.. Oh, go plead the case for more billionares while you're at it. Post faster!

[stockstrader]

jenny, good post. Same page here too!!

[dakine]

Yep...

[ConTex]

Funny, around 2000 is when they all consolidated so bad. (clinton timeframe). Look at the companies then and now. You'll see a lot of the increase in prices right there.