Monday, April 17, 2006

Surrender to the knife

Amid the outrageous news that Exxon's retiring chairman will be receiving a $400 million pension (including 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), Ms. Ellie chimes in with a most trenchant observation:

"If you're going to fleece people for that much money, at least get one of those chins removed!"

And try not to be so transparently hypocritical. 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.

Yeah, I heard he went so far as to trim the hours of the guy he pays to hold his umbrella.

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.

No comments:

Post a Comment