The exhorbitant retirement package of retired Exxon Mobile chairman Lee Raymond was in outrageously bad taste. He was given a $400 million package when motorists are paying $3 per gallon. Nice retirement.
As one friend of mine said, "If you think oil companies profits are too high, buy oil company stock." I can tell you this, though, in then next board of directors election, I will be voting against all incumbents.
It does not make any difference if Mr. Raymond deserved it. Or if it was an incentive to get a good person the next time.
It was stupid. For a company that sells a product in competition with other, it was horrendously stupid.
It was so stupid that it has brought on a Congressional inquiry. Serves them right.
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