April 14, 2006— Soaring gas prices are squeezing most Americans at the pump, but at least one man isn't complaining.

Last year, Exxon made the biggest profit of any company ever, $36 billion, and its retiring chairman appears to be reaping the benefits.

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.

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

That was before new corporate documents filed with the Securities and Exchange Commission that revealed Raymond's retirement deal and his $51.1 million paycheck in 2005. That's equivalent to $141,000 a day, nearly $6,000 an hour. It's almost more than five times what the CEO of Chevron made.

"I think it will spark a lot of outrage," said Sarah Anderson, a fellow in the global economy program at the Institute for Policy Studies, an independent think tank. "Clearly much of his high-level pay is due to the high price of gas."

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.

A company spokesman said the compensation package reflected "a very long and distinguished career."

Some Exxon shareholders are now trying to pass resolutions criticizing the company's executive pay policies. The company is urging other shareholders to vote against those resolutions.

------------------------------------------------------------

$36 Billion record profits, and I can't fill my tank up for less than $50 these days.
:banghead:

And just what does he plan to do with all that money, buy a pure gold lambo.

kinda make me wish I was a rich white man....

kinda make me wish I was a rich white man....

Kill one and wear his skin. I'm sure no one would notice.

I can't get over thatn insane number of $6k per hour. That's just nuts.

If I had that much money, I'd build me a space ship and fly to the moon, and have juice boxes and grapes with the moon people.

I'm all for juiceboxes! Nothin like a 6.75 fl.oz. of a noncarbonated beverage, all in one gulp.

I want my next job to have $6,000 per hour in the job description.

i cant even think what i would do with that kinda money

i cant even think what i would do with that kinda money

You could build a Zeppelin! That would be awesome! Build a Zeppelin three times the size of the Hindenberg, and live in the sky. Never again would you have to set foot upon the earth.

You'd probably want to arm it with lasers and missiles though, to fight off Air Pirate attacks.

http://i23.photobucket.com/albums/b356/KatakanaKarl/LaserZep.jpg

The red lasers are anti-aircraft beams, and the white ones are ground attack beams (for destroy Air Pirate bases and airstrips).

I can't get over thatn insane number of $6k per hour. That's just nuts.

Did you know that if Bill Gates was walking down the street and saw a $100 bill on the sidewalk, it's not worth his time to stop and pick it up? That's how much money he makes.

It's true, but money certainly is a blessing :)

who the fuck cares when he dies..........when you are dead thats it..........dont wanna go into a debate, but damn $6k an hour........wow i wish i had that kinda money

http://i23.photobucket.com/albums/b356/KatakanaKarl/LaserZep.jpg

The red lasers are anti-aircraft beams, and the white ones are ground attack beams (for destroy Air Pirate bases and airstrips).


this is a better zeppelin.

http://www.poster.net/led-zeppelin/led-zeppelin-photo-led-zeppelin-6202381.jpg

or probably because he realized you were going to say something like that.

this is a better zeppelin.

http://www.poster.net/led-zeppelin/led-zeppelin-photo-led-zeppelin-6202381.jpg

Led Zeppelin rocks. I'd put giant speakers on my Laser Zeppelin and blast "Black Dog" as I destroy the pirate bases.

Serves 'em right for raiding the Aztec ruins and stealing my gold!

i would know how to play that song, had i listened in guitar class.

In a sense, I kind of feel that he deserves it. I mean, I know that I hate the current gas prices just as much as the next guy; but I also know that if I were responsible for making my company the most profitable ever, and if I were responsible for making my company's stocks increase by 500%, I better get a hell of a retirement package.

$400 million is chump change to the company, might as well make the guy responsible for it all happier.

In a sense, I kind of feel that he deserves it. I mean, I know that I hate the current gas prices just as much as the next guy; but I also know that if I were responsible for making my company the most profitable ever, and if I were responsible for making my company's stocks increase by 500%, I better get a hell of a retirement package.

$400 million is chump change to the company, might as well make the guy responsible for it all happier.

Oh no doubt, I never said he didn't deserve it, but damn couldn't they have made $35 billion instead of $36 and lowered gas prices a dollar a gallon. :dunno:

I wonder how much one of these would cost:

http://upload.wikimedia.org/wikipedia/commons/thumb/1/1d/Carnival_Conquest_cruiseship.jpg/800px-Carnival_Conquest_cruiseship.jpg

It would be kickass to have your own cruise liner.

I think about 50mil+labor.

That's still too much money. I wouldn't even want $400 million dollars. I would just prove to be a headache after a while, I wouldn't fucking know what to do with that money. I'd give 3/4 of it away to help someone out who actually needs it. Keeping $400 million to yourself shows what a selfish old white prick you are.

I'd buy a theme park for sure.

I'd buy a theme park for sure.

A couple of 200+ ft coasters, some flat rides, a TTD/KK clone, a water park, and a huge go-cart track....

But you'd need a bit more than $50 mil, you'd need around $400 mil to do a decent theme park.

The united States is, after all, a capitalist country; if a top executive has helped lead a company to high profits, he gets compensated. It's when top executives reward themselves lavishly while the company is losing market share and laying off large chunks of their workforce (*coughRogerSmithcough*) that it's repugnant behavior.

The united States is, after all, a capitalist country; if a top executive has helped lead a company to high profits, he gets compensated. It's when top executives reward themselves lavishly while the company is losing market share and laying off large chunks of their workforce (*coughRogerSmithcough*) that it's repugnant behavior.

Might as well add COUGH COUGH - General Motors to that list.

A couple of 200+ ft coasters, some flat rides, a TTD/KK clone, a water park, and a huge go-cart track....

But you'd need a bit more than $50 mil, you'd need around $400 mil to do a decent theme park.

Hell, i'd be happy with a sick go cart track, with some beefy carts to rip shit up on.

I think about 50mil+labor.

I woudl guess way more than 50million. The engine alone is probably close to that.

Might as well add COUGH COUGH - General Motors to that list.

Roger Smith was head of GM in the 80's - we're saying the same thing :)

I see this is a different situation. Sure this CEO helped the company make all of this money. However, fuel is a necessarry commodity, and they made all of this money by essentially lubing up their right arm and giving consumer's a good ole' fisting. I don't think that these profits were earned in an ethical manner, a moral manner, and I don't think this guy deserves that much money. Nor anyone for that matter. You can't name me one person that I think is worth $400 million dollars.
What is he going to do with that much money? Probably be a huge cocksucker, that's about it.

Despite a documented history of blowing their exorbitant profits on outlandish executive salaries and stock buybacks, and hoarding their bounty by avoiding technologies, policies and legislation that would protect the population and environment and lower fuel costs, Big Oil insists on transferring all of that responsibility on the auto companies.

— Jason Vines, Chrysler PR

I see this is a different situation. Sure this CEO helped the company make all of this money. However, fuel is a necessarry commodity, and they made all of this money by essentially lubing up their right arm and giving consumer's a good ole' fisting. I don't think that these profits were earned in an ethical manner, a moral manner, and I don't think this guy deserves that much money. Nor anyone for that matter. You can't name me one person that I think is worth $400 million dollars.
What is he going to do with that much money? Probably be a huge cocksucker, that's about it.

Well, let's face it, we live in the land of supply and demand

If they can charge an arm and a leg for a product, and get an arm and a leg for it, what is to stop them? Supposedly, competition. :dunno:

How are they any different then the supermarkets driving up the price (while driving down the quality) of produce?

Or the electric company charging a fortune? The water bill?

How about the fact that cellphone services cost way, way more then they need to?

Or how about how gigantic stores such as Best Buy or Home Depot just rake in the money for INSANE markup?

It's the downside of capitalistic economy, the fact that idiots don't know the value of a doller.

And, the other fact we are all ignoring, the fact that the doller is dropping like a bowling ball off the empire state biulding. How do you expect a weaker doller to be able to import the same amount of gasoline?
----------------------

Personally, I switched to Ethanol at the last price spike, so they're not gonna be making money off me for much longer.

$36 Billion record profits, and I can't fill my tank up for less than $50 these days.
you actually believe that those profits are all from crude oil production/refinement?

:banghead:

you people really need to realize that there are many more products in the oil industry then just gasoline.



btw:

a coworker of mine just said: "Your gas prices are so high because fuckers like me go out in the field and milk the job drawing $80/hr for 12 hours a day days on end."

and they are really starting to bitch because we keep saying best estimate is finished in 6 months or so :D