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Exxon Chairman Gets $400 Million Retirement Package

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posted on Apr, 17 2006 @ 05:23 AM
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Exxon is giving Lee Raymond one of the most generous retirement packages in history, nearly $400 million, including pension, stock options and other perks, such as a $1 million consulting deal, two years of home security, personal security, a car and driver, and use of a corporate jet for professional purposes.

Last November, when he was still chairman of Exxon, Raymond told Congress that gas prices were high because of global supply and demand.

"We're all in this together, everywhere in the world," he testified.

Raymond, however, was confronted with caustic complaints about his compensation.




And Raymond wont have any trouble paying for his gas, will he.

For us ordinary folk, trying to live day by day, here is the root of the oil crisis.





posted on Apr, 17 2006 @ 06:16 AM
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Oh thank goodness for that, if there is anyone who deserves $400 million its this guy....

But seriously, its just $400 million, I'm sure he'll spend it wisely.


I actually really enjoy reading these success stories, gives me hope for the common man....

This reminds me of a quote.

Every gun that is made, every warship launched, every rocket fired, signifies in the final sense a theft from those who hunger and are not fed, those who are cold and are not clothed.
Dwight D. Eisenhower

I guess we can add worthless fatcat oil CEO's to that list....

I know this is bad for my karma, but I hope he never has a chance to enjoy that money.

This makes me sick..



posted on Apr, 17 2006 @ 06:23 AM
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Isn't that a young looking Jabba The Hut?



posted on Apr, 17 2006 @ 06:58 AM
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Now he's got some spending money so he can get his teeth fixed........



posted on Apr, 17 2006 @ 07:23 AM
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~~

i actually 1st saw the story here
....//thinkprogress.org/2006/04/14/exxon_ceo_190k-day/
'In 2005, Exxon CEO Raked in 190K a Day'

Raymond is only the beneficiary of the Compensation Committee
of the Exxon board-of-directors.
His Lawyers &/or agent negotiated his annual takehome pay
and his retirement package.

these are outrageous excesses (IMO) but out of my control
as i am not a shareholder or voter or have any voice in the internal
dynamics of Exxon or the board-of-directors.
I do think that if there is anything illegal the state prosecuters will
investigate, just like the Grasso affair in NY State & his bloated
retirement package

i think the Exxon board, thinks that when its their time to retire,
the Raymond excesses will help to inflate their own retirement
'golden parachute'...its a practice of feathering their own nest!



posted on Apr, 17 2006 @ 09:27 AM
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Considering the rising cost of gasoline the courtesy of a reach around with this announcement would have been nice.

There is no oil crisis. I love how we are supposed to believe that China just magically put a few million extra cars on the road one day and now gas goes up.

I am hopeful that once Bubba can't afford to put gas in his F250 4x4 people will start voting the criminals out of office.



posted on Apr, 17 2006 @ 11:14 AM
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Outrageous excess in the board room isn't limited to the petroleum companies. Look at what some of the health insurance providers are paying their CEOs. That may be even more heinous.

By all means, let's vote the current criminals out of office. We need an entirely new set of criminals.



posted on Apr, 17 2006 @ 11:42 AM
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Won't keep him alive after he dies from all that fat clogging his arteries. Wonder if he will have that stupid grin on his face then?



posted on Apr, 17 2006 @ 11:56 AM
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Originally posted by dgtempe
And Raymond wont have any trouble paying for his gas, will he.


I don't usually go for the 'jugular' and in this case, I might get lost while doing so, but I hope he can also afford the dreaded jowl-removal surgery...


Corporations are protected by this government and this man right here is the reason corporations hire illegal workers for low wages, so he can be provided a corporate jet for his retirement years... for professional purposes, only, I'm sure... :shk:



posted on Apr, 17 2006 @ 12:59 PM
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I've heard that Exxon employes were getting pension cuts.

Found an article about it her
moneycentral.msn.com...

The exec's in those companies are below human IMO to actually have the heart to receive that much money.



posted on Apr, 17 2006 @ 01:38 PM
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I'm not one to dislike rich people out of jealousy... BUT, 400mil is just insane. I hope he donates to a lot of charities, or at least does something good with the money. I can understand if he wants to get plastic surgery first however



posted on Apr, 17 2006 @ 01:53 PM
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This has nothing to do with the administration, it is about the need to fill up your SUV with gas that is creeping over 3 bucks a gallon. It is vehicels that get 12 mpg and the people who drive 50 miles to work in them. Oil companies had record profit yet there is supposedly a shortage of oil.

It was only six months ago that prices shot up because of the Hurricanes, and now it is because of Middle East tensions.

It is a sickening display of greed
. This man did turn the company around, and for that, a retirement package is understood. I could even accept 40 million, I mean, ever look at the roster of the Yankees?

We do not need to relect new criminals, we need to cut the throat of the oil industry with hybrids and solar electricity.



posted on Apr, 17 2006 @ 03:05 PM
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It is sad what is going on in our nation, corporate elite runs our country and they careless what we pay or not when it comes to gas prices as long as their Chairman gets their healthy millions cut.

Yes he is going to need lots of money to fix his face and who knows what else.

But like every ting in this world when we die all we take with us is the rags with are buried with.

I imagine that his will be a very expensive one.



posted on Apr, 17 2006 @ 03:12 PM
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wonder how much they put into finding alternative energy sources....ya know, to solve the oil crisis??

i think I will ask this question again.....

the cost of heap and other public assistance probably went up this year.

the cost to plow and maintain our roads went up also.

the cost of bussing our kids to school.

the cost of heating our public buildings.

the cost of the danged tax assessor coming around and assessing our properties higher also went up....as well as alot of other things our government does.

the same story can be said about the healthcare industries....

our government has massive deficits and these guys have so much money that they can pay their ceos and the like this kind of money??

why give them more through corporate welfare???

they're sucking the nation to death as it is.

but, well, I think I will look at the bright side of things. the area we moved to has been historically rather poor. ya know what? we have one little lady well over retirement age working where I do, and today she brought in her mother, close to a hundred. and well, it seems like just about all of the people working with me have their parents still alive....mine aren't, they grew up in the developed north....we much better off, I mean, we always had indoor plumbing and all....but well, I am beginning to wonder if maybe these people around me have something that we don't, like well, they had to work hard through their life....alot of excercise, they didn't have the $$$ to buy all those extra groceries....and they didn't have those nice fat company checks, but they also didn't have the pollution. as a result, the seem to have longer life spans, and healthier lives....

just my two cents on the issue. this guy looks like he will be enjoying a short retirement anyways.

[edit on 17-4-2006 by dawnstar]



posted on Apr, 19 2006 @ 08:48 PM
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First let me say that a $400 million retirement is ridiculous for 1 person. If he won it in the lottery...fine, but to receive this from the company you work for is just plain crazy.......

Now to piss you people off.....

In his time as chairman he made the stock go up 500%, last year they had a $36 billion, NET PROFIT. While this may be exsessive and it is, it's not like he didn't do anything to earn it. He made the company money and the rewarded him for it. If you want to complain goto the board of directors. Have the share holders vote them out. If they are unwilling, then obviously they feel they are getting a good return on their investment.

Now you may say that this money could be used to reduce the price of gas. That was my first thought, until I heard that the American public consumes about 300 million gallons of gas a day. This would what, give you a little over $1.00 for a one time fill up. PLEASE!!!

Until shareholders in companies, revolt and vote out the Boards giving these ridiculous retirement plans, then nothing is going to be done. I'm going to tell you a personal story, but I am going to be vague...who knows who is watching, but with a little searching you can find the truth...

I work for a rather large bank. In Feb of this year our CEO was (For a lack of better words, FIRED!) for P.C. reasons let go early. He received a $43million in severance. If he simply retired, he would have received maybe a tenth of that. While (If I am lucky) get a 2% raise. Here is someone who was basically fired, and won the lottery for it. Am I pissed...HELL YEAH, but what can I do? I hold what little stock I can accumulate in this company, and the board of directors can do what they want.

Now this story does relate to Exxon. While no one is worth the money this man received, at least he made money for the company. I'm watching $43 million be spent on a guy, who pretty much drove the company I work for into the ground.

Do I think the guy from Exxon deserved a big payday...HELL YEAH, his results prove it. But $400 million...HELL NO. While I believe in rewarding the people who make a company money, I also believe that rewarding the emloyees of the same company. Without the people who do the day to day work, these executives would be nothing. I am not asking to win the lottery here, but am asking the boards of directors to support the "lowly" people who work for them. Maybe once this is done, the everyday JOE will be faithful to his company.

I'm sure I got way off track here, but I wanted to post these thoughts.



posted on Apr, 20 2006 @ 02:05 PM
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He should have waited another year to retire as Exxon will soon break last years' profit record - he probably would have received a few more hundred million $$$ --->> it's very simple - the more oil-rich countries you threaten, the greater the speculation, the higher the price, the greater the profit$



posted on Apr, 20 2006 @ 02:34 PM
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This pic says it all! (from rense.com)

You know, what really chaps my hide is the fact that this oil comes from the Earth, who owns the Earth? Who owns what comes out of it?

Who owns the trees, who owns the water, who owns the oil?
Well, those who exploit those resources, that's who. It may provide a few jobs to those who live in those oil rich countries. But overall those who live in oil rich countries are dirt poor. Why is that? Well we know what it is, it's a sense of entitlement to the natural resources from the land of those who live there.

So they steal away the wealth of a country, line their pockets with their stolen loot as the unwashed masses watch helplessly as the pirates run away to the bank laughing their butts off.

Capitalism is good, it keeps the majority of us humble and keeps us busy as indentured servants, all the while digging our own graves, oh well, the rich folks gotta eat!
It's our duty to serve them.



posted on Apr, 21 2006 @ 09:33 AM
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i think hes great, he drinks in my local pub and said i can use his codo in the bahamas anytime i want, not to mention borrowing the private jet.



posted on Apr, 21 2006 @ 09:53 AM
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This thread has been really educational.

I didn't know, before stopping here, that evil people are also visually ugly.

That's really handy.

Because it means y'all can still worship all the hollywood types how make the very same types of money.

Hey. But at least Spielberg is getting rich without being evil.

Same with Tom Cruise, Tom Hanks, Jaylo, Paris Hilton, etc. You can tell they are nice, due to their hard bodies.



I think I'm beginning to get the hang of this conspiracy stuff.



posted on Apr, 21 2006 @ 10:31 AM
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Good point, I don't agree with the unfathomable rewards of celebrity either. But as far as I am concerned, this guy is retiring with almost half a BILLION dollars.

And he did it with OIL, you know that stuff that pollutes and kills the planet, the stuff that people depend on and goes up in price every time I fart.

It's easy to get mad when rich scum steal our natural resources and get filthy rich from them while a person like me lives from payday to payday.
And where do my peanuts go? Well they go to help fill elephant sized duffelbags of the needlessly wealthy almost everytime I pay bills or buy the things I need.

If there were 10 people in a room and ten slices of pie, one man takes 9 slices and pigs out and leaves 1 slice for the 9 people to share, what would you think of that person?
Yeah, I thought so!
Now, all we have to do it label it CAPITALISM, and it becomes OK.

If we looked at capitalism more in that sense, maybe we'd come to our senses.
But alas, the world is run by the pigs and they have us all blindly accepting and legitimising their ideals and POV.



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