Exxon Chairman Gets $400 Million Retirement PackageIt's nice to see that we're all in this together. I'm sure my $400 million dollar benefit package is just held up in the mail... probably because of the high cost of gas to run the mail trucks out to my house.
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.
You know, I'm really starting to have some empathy for the people of France a couple hundred years ago when similar conditions arose in the upper classes. Back then people just rose up en masse' and began lopping off heads. Lee Raymond was probably wise to have a couple years of heavy, private security put in his package. His neck is looking a little wobbly at this point.