So THAT's why gas is so expensive...

[iceburns288]

http://abcnews.go.com/GMA/story?id=1841989&page=1

Chairman of Exxon gets 400 million retirement package.

By the way, at his current salary, if he worked 8 hours a day, 5 days a week, he would make 26 THOUSAND dollars an hour.

[moe007]

wow rich guy

[liquidboi69]

Holy crap

[Phy]

Why am I not surprised?

[GQBalla]

...

what a baller

[01RedDX]

.

[handsomebassman]

i just dont see how crooks like that can sleep at night, when its their employees pumping gas in the freezing cold for minimum wage all day, not able to do anything with their lives that could only DREAM of getting over $10. What a fuckin asshole.

[TopGunn]

small time. I make 8.50 at earls.

[l8braker]

Well, Exxon recorded 36 Billion in profits under his leadership, so the $400 million is pretty much on par. I doubt anyone here would turn it down! That's what CEO's earn if your good. Hell, Gwyn Morgan's package wasn't that much, but still many, many, many millions. Wanna be rich, start up a company and be a CEO.

Originally posted by handsomebassman
i just dont see how crooks like that can sleep at night, when its their employees pumping gas in the freezing cold for minimum wage all day, not able to do anything with their lives that could only DREAM of getting over $10. What a fuckin asshole.

[TurboMedic]

but was the 36 billion in profit because of his leadership strategy, or just sheer luck that he was in charge during a boom and a war simultaneously? I would put more money on the fact that the price of a barrel of oil tripled being the main moneymaker rather than him making decisions.....

[HyperZell]

A company's position in the market is based on both external and internal factors. Guided in part by the chairman's decisions, Exxon attempted to capitalize on opportunies and nullify threats. It's growth and solidification, and of course profits, are a direct result of how the company dealt with both internal and external choices - the result of which made them 36 billion. How much to pay the chairman is also part of that decision-making - I guess to them, 400mil is an adequate amount. That says nothing of what they are doing to decrease manufacturing costs, or their plans for expansion in the future. This pension is ultimately minimally impacting the company, and to a further extent, the market as a whole.




Business 101.

[frostyda9]

Originally posted by TurboMedic
but was the 36 billion in profit because of his leadership strategy, or just sheer luck that he was in charge during a boom and a war simultaneously? I would put more money on the fact that the price of a barrel of oil tripled being the main moneymaker rather than him making decisions.....

It would not take a mensa-grade strategist to turn a profit in the conditions he faced.

$400M is about 1.1%. Not unreasonable by any means.

[Alex_FORD]

Haven't you heard?

Any bum off of toronto streets can do his job.

[shakalaka]

How is this guy not the richest person in the world if he makes 26 grand an hour. Just makes me wonder how much freakin Bill Gates makes then.

[frostyda9]

The old story is...if Bill Gates was working and dropped a $100 bill by accident, it would cost him more to stop working and pick up the bill than it would to continue working and leave the $100.

So lets see... $100 a second X 60 seconds X 60 minutes = $360,000 an hour. Lets assume he worked 8 hours a day, 365 days a year.

$360,000 X 8 X 365 = 1,051,200,000.

Just over a billion dollars a year, if he worked every single day.

He amassed, at the peak, an net worth of over $90 billion, and did it in under 20 years. So, roughly four times the original $100/second. That would give us $400/sec X 60 seconds = $24,000 per minute. Kind of puts that $26,000 an hour into perspective

[Barlow]

Originally posted by frostyda9
The old story is...if Bill Gates was working and dropped a $100 bill by accident, it would cost him more to stop working and pick up the bill than it would to continue working and leave the $100.

So lets see... $100 a second X 60 seconds X 60 minutes = $360,000 an hour. Lets assume he worked 8 hours a day, 365 days a year.

$360,000 X 8 X 365 = 1,051,200,000.

Just over a billion dollars a year, if he worked every single day.

He amassed, at the peak, an net worth of over $90 billion, and did it in under 20 years. So, roughly four times the original $100/second. That would give us $400/sec X 60 seconds = $24,000 per minute. Kind of puts that $26,000 an hour into perspective

lol I'm hoping you used a calculator, but still, where do you find the time???

[YCB]

Originally posted by Barlow



lol I'm hoping you used a calculator, but still, where do you find the time???

thats simple math dude...

[Xtrema]

This get blown way out of proportion as media just fanning the flames as gas prices are about to go up again this summer.

For reference, his paycheck is not a single year record. That's goes to Steve Jobs of Apples - $775M and running up is Micheal Eisner - $570M. And neither was taking it as a retirement package like the Exxon CEO.

I don't see anyone complaining about paying $300 for a iPod or $30 for crappy Disney movies. But everyone bitches when gas prices goes up.

[89coupe]

The CEO of the company I work for makes $20M/month. Not too shabby.

[sputnik]

Originally posted by Xtrema
I don't see anyone complaining about paying $300 for a iPod or $30 for crappy Disney movies. But everyone bitches when gas prices goes up.

Those are the same retards that think the Oil companies are the ones directly setting the gas prices higher because they had to pay their CEO.



I wish people would learn something about how the commodities market works before making blanket statements like that.