Friday, April 14, 2006

Is Exxon Wise, Insane, or Out of Touch With Reality?

Lee Raymond, Exxon's retired executive, has just received one of the highest retirement packages in history, according to ABC. Of course, ABC jumped on this chance to embarrass Big Oil, but I must say I wonder what Exxon was thinking. Aren't they conscious of the outcry and future political ramifications this little detail will stir? Remember Marie Antoinette, with her "Let them eat cake!"

[Thanks to for the image.]

They must be suffering from a sort of CEO Ivory Tower syndrome and have no idea that legislators are drooling just at the thought of being able to don the Shining Armor of the Knight to penalize those evil rich who disdain the weak and downtrodden. America isn't exactly 18th Century revolutionary France, but the price of gas is exploding and complacency is not a permanent given, even in the good old US of A (to wit, the immigration turnout.)

The politicians have already begun to strut their stuff on the stage of the Senate commission hearings. If I were one of those very smart CEOs, I'd go lightly where angels fear to tread in these dark days of coming price hikes, windfalls and global tension.

Read more about Mr. Raymond's fortune here.


Anonymous Anonymous said...

Funny that no one mentions how much taxes he'll pay on this retirement package. I'd think people would be grateful a portion of those evil profits are being converted into good tax dollars.

7:27 AM  
Blogger Katy said...

Never mind the fact that he will probably give 50% to charity rather than to the government.

10:41 AM  

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