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Gary66
Joined: Sep 01, 2005
Posts: 8353
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 Posted: Sun Apr 16, 2006 8:23 pm Post subject: |
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LINK
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April 14, 2006— Soaring gas prices are squeezing most Americans at the pump, but at least one man isn't complaining.
Last year, Exxon made the biggest profit of any company ever, $36 billion, and its retiring chairman appears to be reaping the benefits.
Exxon is giving Lee Raymond one of the most generous retirement packages in history, nearly $400 million, including pension, stock options and other perks, such as a $1 million consulting deal, two years of home security, personal security, a car and driver, and use of a corporate jet for professional purposes. |
It must be nice. I don't know if I could make it on only $400 million. :whistling: :thumbdown: :thumbdown: |
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clhenry
Joined: Feb 13, 2003
Posts: 9051
Location: West by god Virginia
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| Posted: Sun Apr 16, 2006 11:20 pm Post subject: |
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| And the price just jumped 29 cents at the pumps. :blink:
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Gary66
Joined: Sep 01, 2005
Posts: 8353
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| Posted: Sun Apr 16, 2006 11:22 pm Post subject: |
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And the price just jumped 29 cents at the pumps. :blink:
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I hear that it will be close to $5.00 per gallon by summer all due to this crackpot in Iran. |
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silmaril8n
Joined: Jan 29, 2004
Posts: 1743
Location: Phoenix, AZ
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| Posted: Mon Apr 17, 2006 12:25 am Post subject: |
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It must be nice. I don't know if I could make it on only $400 million. :whistling: :thumbdown: :thumbdown:
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Well I'm sure he'll find a way to squeeze the pennies and make it last a long time. :biggrin: :biggrin: |
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Webb
Joined: Feb 17, 2003
Posts: 4271
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| Posted: Mon Apr 17, 2006 1:26 am Post subject: |
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Here is the article I was looking for.
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In 2005 the average pay for CEOs of 500 of the largest U.S. companies was $11.75 million. Some CEOs collected pay packages worth upwards of $200 million a year and enjoy perks like corporate jets for personal use. Astonished to learn that what an average worker earns in a year, some CEOs earn in less than a week — people ask themselves: "How can the work of a corporate paper-pusher be worth so many millions of dollars?"
The answer is that successful CEOs are indispensable to their companies. They earn their rewards...
On the gridiron, the baseball diamond and the basketball court, we see and admire the physical prowess of a superlative athlete — one who earns the title of MVP — and we understand that it is morally proper to reward him accordingly. Though the efforts of CEOs are not televised on Monday Night Football, their achievements are real and have a profound benefit to all our lives. It is time that we learned to appreciate the work of successful CEOs and recognize that they deserve every penny of their salaries. |
Personally, I think $400 million is obscene but when you consider that is over the rest of his lifetime and the benefits he brought to his shareholders it doesn't look so bad.
I don't know how much money professional athletes make except golfers. Sandy Lyle became the first golfer to win $1 million in 1988. Phil Mickelson just won $1.25 million for winning the Masters, one tournament. Tiger Woods will earn between $10 and $15 million "official" money (PGATour winnings) this year. He will earn another $100 million (by my own completely subjective and unsupported calculations, essentially 10x official earnings) in endorsements.
But let's take another look at what Tiger Woods has done for golf -
In the 10 years that he has been playing professionally the average PGATour purse has doubled. More people are watching golf on TV and this has enabled the PGATour to negotiate more lucrative TV contracts.
More money filters down to every player. They may not appreciate the increased competition but they darn sure appreciate the bigger paycheck.
How much money will be Tiger Woods worth over his 30 year career? Maybe a billion dollars Link.
A billion dollars for a lifetime of hitting a ball with a stick and retiring by age 50 isn't the point. The point is how much his billion dollars benefits other people - his sponsors, the PGATour, the people that buy "a piece of him". They think he's worth it.
Maybe a large corporation that actually does something thinks the same way about a retiring CEO. |
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ejward
Joined: Jan 06, 2003
Posts: 7054
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| Posted: Mon Apr 17, 2006 7:53 am Post subject: |
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Has anybody noticed gas stations going out of business lately? I've seen two go out of business on the same street in the past two weeks.
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Gary66
Joined: Sep 01, 2005
Posts: 8353
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| Posted: Mon Apr 17, 2006 12:14 pm Post subject: |
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Has anybody noticed gas stations going out of business lately? I've seen two go out of business on the same street in the past two weeks.
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Only the small independent types. |
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xavierx
Joined: Nov 06, 2004
Posts: 5427
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| Posted: Mon Apr 17, 2006 4:55 pm Post subject: |
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Here is the article I was looking for.
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In 2005 the average pay for CEOs of 500 of the largest U.S. companies was $11.75 million. Some CEOs collected pay packages worth upwards of $200 million a year and enjoy perks like corporate jets for personal use. Astonished to learn that what an average worker earns in a year, some CEOs earn in less than a week — people ask themselves: "How can the work of a corporate paper-pusher be worth so many millions of dollars?"
The answer is that successful CEOs are indispensable to their companies. They earn their rewards...
On the gridiron, the baseball diamond and the basketball court, we see and admire the physical prowess of a superlative athlete — one who earns the title of MVP — and we understand that it is morally proper to reward him accordingly. Though the efforts of CEOs are not televised on Monday Night Football, their achievements are real and have a profound benefit to all our lives. It is time that we learned to appreciate the work of successful CEOs and recognize that they deserve every penny of their salaries. |
Personally, I think $400 million is obscene but when you consider that is over the rest of his lifetime and the benefits he brought to his shareholders it doesn't look so bad.
I don't know how much money professional athletes make except golfers. Sandy Lyle became the first golfer to win $1 million in 1988. Phil Mickelson just won $1.25 million for winning the Masters, one tournament. Tiger Woods will earn between $10 and $15 million "official" money (PGATour winnings) this year. He will earn another $100 million (by my own completely subjective and unsupported calculations, essentially 10x official earnings) in endorsements.
But let's take another look at what Tiger Woods has done for golf -
In the 10 years that he has been playing professionally the average PGATour purse has doubled. More people are watching golf on TV and this has enabled the PGATour to negotiate more lucrative TV contracts.
More money filters down to every player. They may not appreciate the increased competition but they darn sure appreciate the bigger paycheck.
How much money will be Tiger Woods worth over his 30 year career? Maybe a billion dollars Link.
A billion dollars for a lifetime of hitting a ball with a stick and retiring by age 50 isn't the point. The point is how much his billion dollars benefits other people - his sponsors, the PGATour, the people that buy "a piece of him". They think he's worth it.
Maybe a large corporation that actually does something thinks the same way about a retiring CEO.
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Thanks, Webb, that's very thought provoking. I never thought about it that way - for either the CEOs or the atheletes. |
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jereece
Joined: Dec 06, 2002
Posts: 567
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| Posted: Mon Apr 17, 2006 7:00 pm Post subject: |
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What's outrageous is that the government collects more total tax dollars from gasoline sales than all the oil companies profits combined.  |
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silmaril8n
Joined: Jan 29, 2004
Posts: 1743
Location: Phoenix, AZ
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| Posted: Mon Apr 17, 2006 7:44 pm Post subject: |
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What's outrageous is that the government collects more total tax dollars from gasoline sales than all the oil companies profits combined.
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Do you just know this offhand or do you have a source? I only ask because I'd love to see a breakdown of what they take out and where it goes. |
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xavierx
Joined: Nov 06, 2004
Posts: 5427
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| Posted: Mon Apr 17, 2006 8:22 pm Post subject: |
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What's outrageous is that the government collects more total tax dollars from gasoline sales than all the oil companies profits combined.
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Do you just know this offhand or do you have a source? I only ask because I'd love to see a breakdown of what they take out and where it goes.
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If you want to know some about it, here is a link about state taxes, and here is another.
Here is some easy to read history of federal gas taxes (and a break down of where it goes), and here is a longer, more detailed report. |
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