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  1. #1
    Atomic Punk
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    12.07.17 @ 12:54 PM
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    Exxon Chairman Gets $400 Million Retirement Package

    This amid soaring gas prices

    Higher gas prices may mean a pain at the pump for American, but for the outgoing chairman of Exxon, they mean something very different. Last year, Exxon made the biggest profit of any company ever, $36 billion, and its retiring chairman appears to be reaping the benefits, according to a report on ABC News' Good Morning America.

    The world's largest oil company has revealed the stunning details of Lee Raymond's retirement deal. 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 testified before Congress and tried to explain that high gas prices are the result of global supply and demand.

    But, he was confronted with caustic complaints about his compensation.

    "In 2004, Mr. Raymond, your bonus was over $3.6 million," Sen. Barbara Boxer said.

    And that was before new corporate documents that reveal Raymond's retirement deal and how much he made in 2005, which was $51.5 million dollars.

    That's $141, 000 every day -- nearly $6,000 every hour and it's more than five times what the CEO of Chevron made, according to GMA.

    "I think it'll spark a lot of outrage. Clearly much of his high level pay Is due to the high price of gas," said Sarah Anderson of the Institute for Policy Studies.

    Exxon defends Raymond's compensation, pointing out that during the 12 years he ran the company, Exxon became the largest oil company in the world and that the stock price went up 500 percent.
    "Watch what people are cynical about, and one can often discover what they lack.” -- Gen. George S. Patton

  2. #2
    Atomic Punk Viking's Avatar
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    Quote Originally Posted by voivod

    "In 2004, Mr. Raymond, your bonus was over $3.6 million," Sen. Barbara Boxer said.

    And that was before new corporate documents that reveal Raymond's retirement deal and how much he made in 2005, which was $51.5 million dollars.

    That's $141, 000 every day -- nearly $6,000 every hour and it's more than five times what the CEO of Chevron made, according to GMA.

    "I think it'll spark a lot of outrage. Clearly much of his high level pay Is due to the high price of gas," said Sarah Anderson of the Institute for Policy Studies.
    I'll take what he made an hour for one 8 hr. day, which would be $48,000. That's big money here in southeast Kansas.
    "Viking - last to sleep, first to rise, last to leave, that's how the Nords of old rocked the house." ~ timmac in the 'Texas Linkers' thread talking about yours truly. :-)

  3. #3
    Atomic Punk ZeoBandit's Avatar
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    12.07.17 @ 02:51 PM
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    That's just rediculous.......
    "What we are dealing with here, is a complete lack of respect for the law" - Jackie Gleason, Smokey and the Bandit

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  4. #4
    Good Enough
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    Lee Raymond is laughing all the way to the bank....fuck him & $3 gas.

    From 3-13 to 10-6 and NFC South Champs.....go Saints!

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  5. #5
    Wear the fox hat... Filthy 150's Avatar
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    Yet, nobody is as outraged with Bill Gates, Paul Allen or the Walton heirs?
    "Here's to swimmin' with bow legged women."
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  6. #6
    Atomic Punk
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    Quote Originally Posted by Filthy 150
    Yet, nobody is as outraged with Bill Gates, Paul Allen or the Walton heirs?
    Apples to Oranges...
    "Watch what people are cynical about, and one can often discover what they lack.” -- Gen. George S. Patton

  7. #7
    Atomic Punk smithjc's Avatar
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    08.04.17 @ 11:33 PM
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    Wow I want his job.
    RIP - Classic Van Halen

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  8. #8
    Romeo Delight jordacr's Avatar
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    Quote Originally Posted by Filthy 150
    Yet, nobody is as outraged with Bill Gates, Paul Allen or the Walton heirs?

    Microsoft software prices haven't doubled or almost tripled in the past 1-2 years either.

  9. #9
    PM Goo with your concerns OLO's Avatar
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    12.10.17 @ 09:52 PM
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    Quote Originally Posted by Filthy 150
    Yet, nobody is as outraged with Bill Gates, Paul Allen or the Walton heirs?

    Gates doesn't take a large salary at all, the last I read was he makes $250,000 a year. All of his money is based off of stock holdings in Microsoft. He is one of the founders of the company, he has a right to that stock.

    Allen has not worked at Microsoft for years, I think he left in the early 90's. Once again his money is based off of his stock holdings. He was the other founder of Microsoft, its his stock.

    I dont see how you can hold anything against these two for holding stock in a company they started. It was there vision. The bulk of that stock they have owned for atleast 25 years.
    ((Just My Two Cents))
    And thats about what its worth.

  10. #10
    Baluchitherium Guitar Shark's Avatar
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    Not to mention the fact that Bill Gates started the Bill and Melinda Gates Foundation which is one of the biggest and most generous charitable organizations around. Paul Allen also contributes a great deal of his money to local organizations. I wonder if this Exxon guy can say the same.

  11. #11
    Eruption Junior's Avatar
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    12.20.07 @ 05:39 PM
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    Quote Originally Posted by OLO
    Gates doesn't take a large salary at all, the last I read was he makes $250,000 a year. All of his money is based off of stock holdings in Microsoft. He is one of the founders of the company, he has a right to that stock.
    no to mention all the charities he contributes to. He might make a shitload but at least he's doing some good with his money.
    Last edited by Junior; 04.20.06 at 11:47 AM.

  12. #12
    PM Goo with your concerns OLO's Avatar
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    Quote Originally Posted by Guitar Shark
    Not to mention the fact that Bill Gates started the Bill and Melinda Gates Foundation which is one of the biggest and most generous charitable organizations around. Paul Allen also contributes a great deal of his money to local organizations. I wonder if this Exxon guy can say the same.

    Gates has also stated that he will give 95% of his money away leaving only a small amount to his children. I think he said he would leave each child 10 million and that was it, the rest will go to charity.
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  13. #13
    Eruption
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    Default ridiculous arguments!

    energy is a boom and bust cycle, always has been and always will be.

    all of you complaining about this guy's pay package don't realize that just a few years ago the oil/energy business was in a total free-fall. and i didn't see any of you crying over the energy executives who were getting pinked or worrying about how these companies were going to find the money pay for the necessary upgrades to increase refinery capacity and/or build new ones.

    those chickens have come home to roost and now we're paying the price, literally.

    this fat cat made his money legally and ethically. the only people who can legitimately complain about his pay package are the shareholders of his company as they're the only ones who are directly affected by it.

    now pay attention, knuckleheads, and you might actually learn something about capitalism:

    i'm not concerned about higher energy prices because i arbitrage. the increases in my energy investments have more than offset the higher price of gas at the pump. net economic effect for me has been wildly to the plus side.

    captialism... it's a beautiful thing

  14. #14
    Atomic Punk
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    Quote Originally Posted by SeriousDooDoo
    these companies were going to find the money pay for the necessary upgrades to increase refinery capacity and/or build new ones.
    In 30 years, they haven't been able to afford to build a new one?
    "Watch what people are cynical about, and one can often discover what they lack.” -- Gen. George S. Patton

  15. #15
    Wear the fox hat... Filthy 150's Avatar
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    Quote Originally Posted by voivod
    In 30 years, they haven't been able to afford to build a new one?
    In 30 years there have been more innovations in the oig/gas industry that in automobiles. This industry invests more of it's profits into R & D than any other.
    "Here's to swimmin' with bow legged women."
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    Arthur Carlson- Radio Station GM
    --------------------------------------------------


    "I think you're all fucked in the head. We're ten hours from the fucking fun park, and you wanna bail out! Well, I'll tell you something, this is no longer a vacation . . . it's a quest! It's a quest for fun! I'm gonna have fun, and you're gonna have fun! We're all gonna have so much fucking fun we'll need plastic surgery to remove our Goddamn smiles! You'll be whistling Zip-a-dee-doo-da out of your assholes! "
    Clark W. Griswold- Food Additive Designer
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    VIVA TEXAS LINKERS WEEKEND!
    Round I = Done!
    Round II = Done!
    Round III = Done!
    Round IV = Done!
    Round V = Done!
    Round VI = Done!
    Round VII = Done!
    Round VIII = Done!

 

 

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