Exxon Mobil posts $10.49B profit in 3Q

[one...two...tree 2,762]

Lenin's got nothing to do with it. The pie is metaphor for the American Dream. The American Dream cannot be reality to only some Americans unless it is a reality to all. It's about opportunity - gettng ahead in life through hard work.

advocating socialism?

What does the American Dream mean to you, Charles?

Lenin's got nothing to do with it. The pie is metaphor for the American Dream. The American Dream cannot be reality to only some Americans unless it is a reality to all. It's about opportunity - gettng ahead in life through hard work.

The American Dream is an option for all.....all those who want to work hard, get an education, and make something of themselves.

Are you sure it is option for every hard working American? Some say let corporate CEO's hord all the profit they want - where does that leave the American worker if every business operated that way?

[I'm Gone 60]

Lenin's got nothing to do with it. The pie is metaphor for the American Dream. The American Dream cannot be reality to only some Americans unless it is a reality to all. It's about opportunity - gettng ahead in life through hard work.

The American Dream is an option for all.....all those who want to work hard, get an education, and make something of themselves.

Comrade Steve doesn't think anyone should be doing better than anyone else.

[Fandango 1,439]

Are you sure it is option for every hard working American? Some say let corporate CEO's hord all the profit they want - where does that leave the American worker if every business operated that way?

If you're hardworking, intelligent, and educated, you could have been that CEO.

Stop making people apologise for being successful, Steven.

How much of your pay do you 'hoard'? Or do you give a substantial amount away to the less fortunate?

Edited October 26, 2006 by LisaD

[one...two...tree 2,762]

Lenin's got nothing to do with it. The pie is metaphor for the American Dream. The American Dream cannot be reality to only some Americans unless it is a reality to all. It's about opportunity - gettng ahead in life through hard work.

The American Dream is an option for all.....all those who want to work hard, get an education, and make something of themselves.

Comrade Steve doesn't think anyone should be doing better than anyone else.

Who endowed you with authority to speak for me?

[mawilson 2,133]

Are you sure it is option for every hard working American? Some say let corporate CEO's hord all the profit they want - where does that leave the American worker if every business operated that way?

I am sure. You can work your way up the chain of managers until you become a corporate CEO.

[Ban Hammer 13,335]

Lenin's got nothing to do with it. The pie is metaphor for the American Dream. The American Dream cannot be reality to only some Americans unless it is a reality to all. It's about opportunity - gettng ahead in life through hard work.

advocating socialism?

What does the American Dream mean to you, Charles?

not having to carry freeloaders and the lazy

[Fandango 1,439]

Lenin's got nothing to do with it. The pie is metaphor for the American Dream. The American Dream cannot be reality to only some Americans unless it is a reality to all. It's about opportunity - gettng ahead in life through hard work.

advocating socialism?

What does the American Dream mean to you, Charles?

not having to carry freeloaders and the lazy

a concept many have the problem of grasping, Charles

[one...two...tree 2,762]

Are you sure it is option for every hard working American? Some say let corporate CEO's hord all the profit they want - where does that leave the American worker if every business operated that way?

If you're hardworking, intelligent, and educated, you could have been that CEO.

Stop making people apologise for being successful, Steven.

How much of your pay do you 'hoard'? Or do you give a substantial amount away to the less fortunate?

When minimum reaps a person just over 10g's per year at full time - below the poverty level, while corporate profits such as Exxon are higher percentage wise than ever before in history, some are being denied the American Dream.

[Fandango 1,439]

Are you sure it is option for every hard working American? Some say let corporate CEO's hord all the profit they want - where does that leave the American worker if every business operated that way?

If you're hardworking, intelligent, and educated, you could have been that CEO.

Stop making people apologise for being successful, Steven.

How much of your pay do you 'hoard'? Or do you give a substantial amount away to the less fortunate?

When minimum reaps a person just over 10g's per year at full time - below the poverty level, while corporate profits such as Exxon are higher percentage wise than ever before in history, some are being denied the American Dream.

Have you gone outside & realized that you live in neither a socialist nor a communist country?

[one...two...tree 2,762]

Are you sure it is option for every hard working American? Some say let corporate CEO's hord all the profit they want - where does that leave the American worker if every business operated that way?

If you're hardworking, intelligent, and educated, you could have been that CEO.

Stop making people apologise for being successful, Steven.

How much of your pay do you 'hoard'? Or do you give a substantial amount away to the less fortunate?

When minimum reaps a person just over 10g's per year at full time - below the poverty level, while corporate profits such as Exxon are higher percentage wise than ever before in history, some are being denied the American Dream.

Have you gone outside & realized that you live in neither a socialist nor a communist country?

As much as we all here agree that communism is not the way to go but neither is an olgarchy. It shouldn't be down to accepting one extreme over the other.

[Fandango 1,439]

As much as we all here agree that communism is not the way to go but neither is an olgarchy. It shouldn't be down to accepting one extreme over the other.

So since you've already claimed to have 'plenty'....how much of a percentage of your salaray is given away to those who don't make as much?

You know what they say, talk is cheap....

[Alex+R 0]

Why would anyone want to defend a CEO who, I'm sorry, IS hoarding more than his fair share. Success is great, but supersuccess is a little unnecessary when anyone is under the poverty line who works 40 hours a week.

Haven't you guys ever seen a children's movie? The fat cats are the bad guys...remember?

When did we all start thinking like we're "pre-rich" instead of middle class?

[one...two...tree 2,762]

The average CEO of a Standard & Poor's 500 company made $11.75 million in total compensation in 2005, according to a preliminary analysis by The Corporate Library. And that's just their annual take. At a time when most working families are looking at shrinking retirement nest eggs, many CEOs also have negotiated golden retirements for themselves. Here are the biggest CEO pensions:

Exxon Mobil CEO Lee R. Raymond’s retirement in January 2006 coincided with record profits for Exxon Mobil. On retirement, Raymond was entitled to receive an estimated annual retirement benefit of over $8 million.[1] He choose instead to take a lump sum payment of $98 million.[2] Raymond will also get an administrative assistant, company-provided life insurance, a car, driver, and airplane use for two years.[3]

Like many CEOs, Raymond’s pension is calculated based on his highest average salary and bonus over a three-year period. Between 2002 and 2005, Raymond’s annual bonus more than doubled from $2.1 million to $4.9 million.[4] According to Exxon Mobil, long-term returns on capital, growth in earnings per share and operating results are key considerations in determining the CEO’s salary and bonus.[5]

But does the CEO deserve credit for high gas prices that led to Exxon Mobil’s record profits? Not according to Jeb Armstrong, an analyst at Argus Research Corp., who said, “There’s a perception that they’re making too much. The simple truth of the matter is that prices are set by supply and demand, and they are a price taker, not a price maker.”[6]

Paying pension benefits on a CEO’s bonus acts as a compensation multiplier by dramatically increasing the value of a CEO’s future pension. This is because CEOs typically receive much higher bonuses than other employees, and one year’s record bonus can translate into a lifetime of higher pension payments.

While Exxon Mobil states “there is no special program for senior executives,” the company does make special pension provisions for executive bonuses. Exxon Mobil’s tax-qualified pension plan—the one in which most employees participate—is based on average annual salary. [7]

Exxon Mobil executives who receive bonuses also get an additional pension benefit from a “non-qualified additional payments plan.”[8] As a result, Raymond’s pension will be calculated on $11.8 million in compensation, including his bonus and long-term incentive plan payouts.[9] In contrast, his salary only averaged $3.5 million between 2002 and 2005.[10]

Meanwhile, the pensions of the rest of Exxon Mobil's employees remain on tenuous footing. According to BusinessWeek, Exxon Mobil's employee pension plans have one of the biggest funding deficits of all U.S. corporations.[11] According to the company’s annual report for 2005, Exxon Mobil’s pension for its U.S. workers is underfunded by $1.2 billion.[12]

http://www.aflcio.org/corporatewatch/paywa.../case_exxon.cfm

[Fandango 1,439]

Why would anyone want to defend a CEO who, I'm sorry, IS hoarding more than his fair share. Success is great, but supersuccess is a little unnecessary when anyone is under the poverty line who works 40 hours a week.

Haven't you guys ever seen a children's movie? The fat cats are the bad guys...remember?

When did we all start thinking like we're "pre-rich" instead of middle class?

Who is to say what's a 'fair share' Alex? You have no clue what that person does to earn his/her wage....who are you to count someone else's pennies?

I'd hardly cite children's movies as evidence. No one's holding a gun to anyone's head......obviously someone has set the price, and it's willing to be paid, so I fail to see how this concerns anyone. Should actors/athletes make so much? Why not...when you look at what the revenue generated is. It may seem like a ton of money to non-rich ppl, but if the asking price is commanded, then it is market price

I could sell a completely overpriced house tomorrow...and while many may say 'omG that is ridiculous' the bottom line is, in a free market, if someone chooses to pay it, then that's apparantly what it's worth.

[Carol&Marc 0]

Lenin's got nothing to do with it. The pie is metaphor for the American Dream. The American Dream cannot be reality to only some Americans unless it is a reality to all. It's about opportunity - gettng ahead in life through hard work.

The American Dream is an option for all.....all those who want to work hard, get an education, and make something of themselves.

Comrade Steve doesn't think anyone should be doing better than anyone else.

Who endowed you with authority to speak for me?

Are you sure it is option for every hard working American? Some say let corporate CEO's hord all the profit they want - where does that leave the American worker if every business operated that way?

If you're hardworking, intelligent, and educated, you could have been that CEO.

Stop making people apologise for being successful, Steven.

How much of your pay do you 'hoard'? Or do you give a substantial amount away to the less fortunate?

When minimum reaps a person just over 10g's per year at full time - below the poverty level, while corporate profits such as Exxon are higher percentage wise than ever before in history, some are being denied the American Dream.

Why would anyone want to defend a CEO who, I'm sorry, IS hoarding more than his fair share. Success is great, but supersuccess is a little unnecessary when anyone is under the poverty line who works 40 hours a week.

Haven't you guys ever seen a children's movie? The fat cats are the bad guys...remember?

When did we all start thinking like we're "pre-rich" instead of middle class?

I got some cheap tickets to china! anyone interested?

Edited October 26, 2006 by Carol&Marc