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Exxon CEO gets 2011 pay raise, bonus up 40 pct Tue, Nov 30 2010 HOUSTON, Nov 30 (Reuters) - The chief executive officer of Exxon Mobil Corp (XOM.N: Quote, Profile, Research, Stock Buzz) will receive an 8 percent increase in salary next year, while his bonus will jump 40 percent. Exxon's CEO, Rex Tillerson, was granted a bonus of $3.36 million, up sharply from his bonus of $2.4 million paid in 2009, according to a regulatory filing with the U.S Securities and Exchange Commission. Half of the bonus will be paid in cash by the end of 2010, while the balance will be linked to quarterly earnings per share performance, the filing said. The executive, who runs the world's largest publicly traded oil and gas company, will be paid a salary of $2.39 million in 2011, up from $2.2 million this year. Exxon's board of directors also granted Tillerson 225,000 shares of restricted stock. Half the shares may not be sold for five years, and the balance must be held for 10 years, the filing said. Shares of Irving, Texas-based Exxon shares closed at $69.56 on the New York Stock Exchange on Tuesday. The shares have risen 2 percent so far this year, underperforming a nearly 5.6 percent gain in the Dow Jones Industrial Average. .DJI (Reporting by Anna Driver in Houston, editing by Matthew Lewis)
Originally posted by OptimusSubprime
reply to post by rubbertramp
Maybe if those people would get rid of the Benz's and BMW's they could afford new clothes. That just goes to show how messed up people's priorities are.
Originally posted by queenofsheba
Recently I have had to have a car get serviced and the bill was 1000.00 and now our other car (mine) needs new struts and the estimate for all four with everything done was...1030.00. I don't know...my car bills in the past have usually not been so high. I'm wondering if that has to do with inflation/high fuel costs and part costs? I'm certainly no expert in this field but wow...I just don't know. Is absolutely everything going to go up?
and now our other car (mine) needs new struts and the estimate for all four with everything done was...1030.00.
Of the 1%, by the 1%, for the 1%
Americans have been watching protests against oppressive regimes that concentrate massive wealth in the hands of an elite few. Yet in our own democracy, 1 percent of the people take nearly a quarter of the nation’s income—an inequality even the wealthy will come to regret.
It’s no use pretending that what has obviously happened has not in fact happened. The upper 1 percent of Americans are now taking in nearly a quarter of the nation’s income every year. In terms of wealth rather than income, the top 1 percent control 40 percent. Their lot in life has improved considerably. Twenty-five years ago, the corresponding figures were 12 percent and 33 percent. One response might be to celebrate the ingenuity and drive that brought good fortune to these people, and to contend that a rising tide lifts all boats. That response would be misguided. While the top 1 percent have seen their incomes rise 18 percent over the past decade, those in the middle have actually seen their incomes fall. For men with only high-school degrees, the decline has been precipitous—12 percent in the last quarter-century alone. All the growth in recent decades—and more—has gone to those at the top. In terms of income equality, America lags behind any country in the old, ossified Europe that President George W. Bush used to deride. Among our closest counterparts are Russia with its oligarchs and Iran.
The top 1 percent have the best houses, the best educations, the best doctors, and the best lifestyles, but there is one thing that money doesn’t seem to have bought: an understanding that their fate is bound up with how the other 99 percent live. Throughout history, this is something that the top 1 percent eventually do learn. Too late.