This has been a matter of broad debate over the past several weeks, all of which will likely result in no conclusion concerning it or any future action to prevent it from occuring in the future. In the meantime, we continue to pay exhorbitant prices for gasoline.
2006-06-22 15:22:01 · 4 answers · asked by lloydtj 1 in Business & Finance ➔ Corporations
The two are independent. 400M was probably quite a bit, but it's a drop in the bucket considering that Exxon has sales of 370B last year. So, if he gave all that back, it would have a .1% affect on gas prices. So, maybe a few cents.
His "retirement package" was funded in large part through a sort of modified 401k, so it's not like Exxon just gave him 400M cash. It was mostly stock options (which take value away from the shareholders, not away from the people buying gas) and some other company things, like use of their jet.
We pay a lot of gas prices for completely different reasons, but yeah, it's kind of annoying. Oil companies make about 10% profit, so that's about all they can reduce gas prices by. Not enough for most people anyhow.
http://www.npr.org/templates/story/story.php?storyId=5365439
2006-06-23 04:17:02 · answer #1 · answered by Arbitrage 7 · 2⤊ 0⤋
Certainly it is never fair for the other guy to get the huge retirment, settlement, lottery winnings or what ever. Why should someone get so much when others have so little? Who is he/she to have such excess. Strange how this always changes when the someone is ourself. Never hope someone else gets less or does without. Always pray to achieve the most that you can and learn to be happy with what you achieve.
2006-06-22 22:28:18 · answer #2 · answered by karate 3 · 0⤊ 0⤋
He earned it. I am no fan of his organization but to the shareholders, the board of directors, and the compensation committee; it appears he met or exceeded the sales/earnings and share price projections during his tenure. This is how you are judged in that position.
2006-06-22 22:58:50 · answer #3 · answered by allen3_99 4 · 0⤊ 0⤋
Not really. Then again, I didn't follow it very well.
If you invested in gasoline, you might be happier.
2006-06-22 23:00:25 · answer #4 · answered by Josefina R 2 · 0⤊ 0⤋