OK, folks...here's a picture of the fat ass whose retirement package we are helping to pay every time we pay for gas.
This is beyond ridiculous at this point. Oil is at $70 a gallon, Qatar is claiming that OPEC can't do anything about soaring gas prices, and the former CEO of Exxon--the guy who helped them earn a record amount of money last fiscal year--is retiring with a package most of us can only dream about.
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.
Of course, Exxon is coming to his defense, telling those who are outraged that Lee Raymond did a lot for the company in his 12 years of working for them. However, some shareholders aren't buying that. Neither would I.
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.
So friends, remember to thank Lee Raymond the next time you have to scrape every last penny out of the cupholder in your car just so you can afford to get a gallon of gas. Maybe a few of you can get lucky enough to meet him and personally give him thanks by giving him a kick in his fat nutsack for the rest of us.
Tags: [Exxon], [Lee Raymond], [former Exxon CEO gets $400 million retirement package], [Exxon shareholders are not amused], [I bet he's relieved that he won't have to starve in order to pay his bills]
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