Robert Justice wrote:
exactly, we need to cut ceo compensation by 90% in this country, and in some cases, like the one idiot that got almost 400 million, by 99%.
Huh?? Lee Raymond was certainly no idiot! In his 12 years as CEO he handled take-overs of -- among others -- Canada's Imperial Oil, oversaw (what was then) the largest corporate merger in history with Mobil Oil, led ExxonMobil to garner Forbes' prestigious "#1 Company in America" rating, and increased the stock price by over 500%! Under his leadership, ExxonMobil made tremendous improvements in technology and productivity, invented and patented new lubricants and other industry-related technologies, built a massive pipeline from Canada (our largest supplier of foreign oil) to the Gulf of Mexico to help mitigate future hurricane-related disruptions, and invested $ billions in new exploration both domestically and abroad.
XOM shareholders overwhelmingly agree Mr. Raymond's accomplishments were worth every penny awarded him by the board -- literally a "drop in the bucket" when compared to the company's capitalization and quarterly dividend payout. If you took his final payout after 12 years of service and divided it evenly by the 20 million individual XOM shareholders, it would come to only about $1.65 per year per shareholder. If you further weighted shareholder contributions by shares of common stock held (as is done for dividends), the amount paid by an ordinary individual shareholder like me would be just a few pennies. Trust me, XOM dividends pay a *lot* better than that -- with a current forward annual dividend rate of about $1.40/share! Then again, if you were an XOM stock holder, you would already know that ...
-- Edward E Jaffe Phoenix Software International, Inc 5200 W Century Blvd, Suite 800 Los Angeles, CA 90045 310-338-0400 x318 [EMAIL PROTECTED] http://www.phoenixsoftware.com/ ---------------------------------------------------------------------- For IBM-MAIN subscribe / signoff / archive access instructions, send email to [EMAIL PROTECTED] with the message: GET IBM-MAIN INFO Search the archives at http://bama.ua.edu/archives/ibm-main.html
