This is obscene

[black01gt]

Daaayum!!! This is just obscene. This is "earnings" of nearly $150,000,00....per day. Yeah Yeah, I know he has the right to reap the rewards of all of his "hard work" :D , but give me a Fucking break!!! Better yet, give us all a fucking break.

Execs' income follows profits
By DAN PILLER
STAR-TELEGRAM STAFF WRITER

Former Exxon Mobil Chief Executive Lee Raymond was paid $48.7 million last year -- including $32.1 million worth of restricted stock -- for leading the company to record profits as oil and gasoline prices surged.

Rex Tillerson, who succeeded Raymond as the Irving-based company's top executive Jan. 1, received $12.95 million in 2005, including $8.75 million in restricted stock. Tillerson, a native of Wichita Falls, was president last year while serving as Raymond's designated successor.

In 2004, Raymond's pay package totaled $37.85 million, and Tillerson's was $9.22 million.

The information was revealed Wednesday in Exxon Mobil's proxy statement mailed to shareholders in preparation for the company's annual meeting May 31 in Dallas.

Exxon Mobil last year earned $36.1 billion on revenue of $328 billion. The company derives two-thirds of its operating income and revenue overseas and benefited not only from increases in the price of crude oil and natural gas but also greater profit margins at its refineries.

High energy prices generated a firestorm of criticism last fall after gasoline prices spiked after two hurricanes. Raymond and other executives were called to testify before Congress, and some senators called for a windfall profits tax on oil profits.

Just to clarify what a $150,000.00 a day pig looks like:
http://i28.photobucket.com/albums/c205/FeatMike/FatCat.jpg

[01WhiteCobra]

What's obscene about it?

Should I bitch about Gates and his billions because the price of Windows XP should be $3.00 (shipping and handling included?)

[TexasDevilDog]

What's obscene about it?

Should I bitch about Gates and his billions because the price of Windows XP should be $3.00 (shipping and handling included?)

Black01gt works for free, thats why. :rolleyes:

[black01gt]

What's obscene about it?

Should I bitch about Gates and his billions because the price of Windows XP should be $3.00 (shipping and handling included?)
Bill Gates makes an honest buck. That sets him apart doesn't it? He has to...he doesn't have the ole BUSH/CHENEY 04 connection. :rolleyes:

I guess paying $5 a gallon to double the majors record setting quarterly profits will really get you off won't it?!

[01WhiteCobra]

Bill Gates makes an honest buck. That sets him apart doesn't it? He has to...he doesn't have the ole BUSH/CHENEY 04 connection. :rolleyes:

I guess paying $5 a gallon to double the majors record setting quarterly profits will really get you off won't it?!

Do me a favor, buy a fucking bicycle and drive on. I also think you should by a little violin to play a sad song.

When you can tell me, honestly, the cost components of a gallon of gas, we'll discuss. Until your rhetoric is total bullshit.

Exxon has a profit margin of a little under 11% and an operating margin of around 16%. They have a return on invested capital of around 34%.

Microsoft, on the other hand, has a profit margin of 32% (triple that of Exxon) an operating margin of 41% (2.5 times larger) and a return on invested capital of 28%.

Seems to me that Exxon uses their profits pretty fucking wisely. Smaller profit margin and better return on invested capital. Better management.... better pay.

Gates, honest? Please. I've been writing software for over 20 years. Gates is the best hardball player there is. He created a company in which his application developers (Office, Excel, Word, etc.) had intimate knowledge of the next go round in the operating system. We application peddlers had to guess. When they release the OS the third party vendors are 6-12 months behind the curve of Microsoft's application developers. Even then, we had to "guess" what was in the OS because Microsoft sure wouldn't fucking tell us.

The reason they are so "open" now has nothing to do with Linux. They had the government breathing down their necks because we third party vendors had enough of the bullshit.

Go read up on the Euro anti-trust lawsuit and the settlements. See, over in Europe, they didn't give a shit who Gates knows. Do you think it is a coincedence that the first place the Chinese President dines at on his trip to America is Gate's $100 Million dollar mansion and not, well, the President of the United States home?


When you can tell me:

1. The profit of each gallon of gas.
2. The demand for the product gas and its trend over... say... the last 10 years

Then we can have an intelligent conversation.

[Vertnut]

Do me a favor, buy a fucking bicycle and drive on. I also think you should by a little violin to play a sad song.

When you can tell me, honestly, the cost components of a gallon of gas, we'll discuss. Until your rhetoric is total bullshit.

Exxon has a profit margin of a little under 11% and an operating margin of around 16%. They have a return on invested capital of around 34%.

Microsoft, on the other hand, has a profit margin of 32% (triple that of Exxon) an operating margin of 41% (2.5 times larger) and a return on invested capital of 28%.

Seems to me that Exxon uses their profits pretty fucking wisely. Smaller profit margin and better return on invested capital. Better management.... better pay.

Gates, honest? Please. I've been writing software for over 20 years. Gates is the best hardball player there is. He created a company in which his application developers (Office, Excel, Word, etc.) had intimate knowledge of the next go round in the operating system. We application peddlers had to guess. When they release the OS the third party vendors are 6-12 months behind the curve of Microsoft's application developers. Even then, we had to "guess" what was in the OS because Microsoft sure wouldn't fucking tell us.

The reason they are so "open" now has nothing to do with Linux. They had the government breathing down their necks because we third party vendors had enough of the bullshit.

Go read up on the Euro anti-trust lawsuit and the settlements. See, over in Europe, they didn't give a shit who Gates knows. Do you think it is a coincedence that the first place the Chinese President dines at on his trip to America is Gate's $100 Million dollar mansion and not, well, the President of the United States home?


When you can tell me:

1. The profit of each gallon of gas.
2. The demand for the product gas and its trend over... say... the last 10 years

Then we can have an intelligent conversation.
Damn son, you must have had a bad day! ;) Of course it's true. My wife works for an oil refinery company in Dallas, and I can assure everyone, that Exxon isn't the only folks making money in the oil business. As much as I hate paying $3.05 a gallon (for Super), my household benefits from the other end with bonuses and other perks, that far outweigh what I pay at the pump. How about doing like '01 white Cobra, and investing in all that BAD business? It's easy to do, and it looks like even an idiot like me can do fairly well.

[01WhiteCobra]

Damn son, you must have had a bad day! ;) Of course it's true. My wife works for an oil refinery company in Dallas, and I can assure everyone, that Exxon isn't the only folks making money in the oil business. As much as I hate paying $3.05 a gallon (for Super), my household benefits from the other end with bonuses and other perks, that far outweigh what I pay at the pump. How about doing like '01 white Cobra, and investing in all that BAD business? It's easy to do, and it looks like even an idiot like me can do fairly well.

LOL. Actually had a good day.

What I'm getting at is if you look at the profit margin of an ExxonMobil or a Chevron or a ConocoPhillips, on average, it hasn't changed dramatically over the years.

But demand has steadily increased.

Sales at Exxon have increase 60% in the past 5 years (about 10% per year). Interestingly there profit margin has increase, well, about 60% over the same span of time.

So... Exxon isn't making anymore on a percentage basis. But people are buying more of their product so in absolute terms their profits go up.

As far as the CEO's compensation... it shouldn't matter to anyone except the shareholders of the company. It's coming out of their pockets. If won't change the price of gas at the pump whether the CEO made $10/year or $100 million a year. It would only effect the shareholders and their dividend yield (which again hasn't changed dramtically over the past 5 years)

Which gets to the original statement. If you don't want oil companies making money buy a bike. Or ride the train to work.

If you wife has access to it, I'd be real curious as to the revenue per employee at her company. Because that is the telling sign.

At XOM it is about 3.2MM per employee. 5 years ago it was about 1/2 that. In the software industry the average is around 4-500K per employee. My company we are at about 750K per employee, this year we hope to ecplise 1MM per employee.

Guess what happens to profits when we can increase revenue per employee 250K? Alot more profit. How do we do that? Bring efficiencies into the company so each incremental sale doesn't have an offsetting incremental cost.

At the current price of oil (and actually it doesn't matter if oil is at 50 a barrel or 100 barrel I'm guessing) it doesn't take one more employee to produce one more barrel of oil. If oil goes to $100 on Monday ExxonMobil doesn't need to hire another employee.

The price isn't set by ExxonMobil it is set in a global market place where people are outbidding each other and speculators are trying to take the middle. I'll lay even odds that there is an additional $15 a barrel built into the price of oil from speculators how couldn't take delivery of one barrel of oil.

[black01gt]

Do you think it is a coincedence that the first place the Chinese President dines at on his trip to America is Gate's $100 Million dollar mansion and not, well, the President of the United States home?


No I don't. Makes sense to me. That's Gate's next huge market. It's also why he endorses China's gov't censorship of their internet. He's not lying and manipulating. What's your point?

[barronj]

....crickets....

[Vertnut]

....crickets....
'01 white cobra is just reloading.... ;)

[01WhiteCobra]

No I don't. Makes sense to me. That's Gate's next huge market. It's also why he endorses China's gov't censorship of their internet. He's not lying and manipulating. What's your point?

Of all I wrote you concentrated on this? Seriously, read the antitrust settlement that Microsoft AGREED to with the US and tell me about about lying and manipulation (no need to take my word for it even though I've been a part of it for 20 years now.)

Sorry, first stop for the leader of the third largest economy should include the leader of the largest economy.... something of protocol.

Anyway... back on topic. Read up on the economy during the early seventies. It appears you were buying commodities for consumption back then. When demand outstripped supply prices of all commodities sky rocketed. Many many speculators made fortunes and were considered genius traders (and subsequently lost there ass in the 80s.)

Demand outstrips supply, commodity prices go up, spurs new exploration for crap that is dug up out of the ground (price is good), more commodity is found or produced, prices drop. Very simplistic overview of a complex interaction between market participants but the view holds true.

So, should I blame Hershey when the price of my favorite candy, Jolly Ranchers, double in price because of the sky rocketing price of sugar on the commodity markets the past six months?

No, not really. Because I was buying sugar futures back in the fall of 2005. Not because I want to take delivery of a few million pounds of sugar but because I was speculating the price was going up.

If you would like I certainly will expand upon this discussion if you think it will help you understand why Exxon has record profits while keeping their net profit percentage the same.

[TexasDevilDog]

Of all I wrote you concentrated on this?

I thought the exact same thing. LOL

[TexasDevilDog]

black01gt, if there is such collusion in the oil industry to rape the consumer, why don't you start your own oil company. You should be able to put the oil companies in their place by under cutting their 10% pm.

[Trip McNeely]

LOL @ people trying to argue what they hear on the news, and what they THINK they know. Unless you have any insight into what actually goes on, and have no argument to base this so called "knowledge" that you THINK you know, I'd suggest you shut the fuck up. Quit jumping on the BUSH OIL BANDWAGON. :rolleyes:

[Trip McNeely]

Do you have any idea how much money, how much service, how much time, how much risk goes into exploration and drilling of fucking fuel that you take for granted? No. I didnt think so. Exxon has been around forever and started as a small energy company, built on blood sweat and tears literally. All of this BS talk about market domination is just ludicrous. You have no idea.

[black01gt]

Do you have any idea how much money, how much service, how much time, how much risk goes into exploration and drilling of fucking fuel that you take for granted? No. I didnt think so.
Jeeeez...you're really weeping for these assholes aren't ya?

If Raymond were to be making brillient (honest) decisions all day, then "slinging chains" all night, I still don't think he's worth $150,000 a day.

[TexasDevilDog]

Warren Buffet has made over a $1billion in silver alone in the last couple years.

* * *crickets* * *

What I thought.

[01WhiteCobra]

Jeeeez...you're really weeping for these assholes aren't ya?

If Raymond were to be making brillient (honest) decisions all day, then "slinging chains" all night, I still don't think he's worth $150,000 a day.

I still see you are spewing the rhetoric.

[black90gt]

I still see you are spewing the rhetoric.

Dont you own alot of stock in exxon?

[01WhiteCobra]

Dont you own alot of stock in exxon?

Not one dime. In fact other than some options in JAH and CBH I'm flat. I don't hold much past 3-5 days and certainly hate holding anything over a holiday weekend.

I did work for Coastal Corporation in the mid-80s (now part of El Paso Corporation) designing trading systems for their oil and gas trading team. Does that count?

[jefehbk]

All I want to know is if that CEO will take some of that 400 million dollars and take that damn dead skin off his neck.

[Trip McNeely]

Jeeeez...you're really weeping for these assholes aren't ya?

If Raymond were to be making brillient (honest) decisions all day, then "slinging chains" all night, I still don't think he's worth $150,000 a day.
No but I do. I work for a service company. Im out in the fields, I see what goes on. My family has been in the business for decades as well. Shall I go on? Believe half of what you see, and nothing of what you hear. God forbid someone makes a profit on the bloodline of the United States, imagine that. In case you didnt know, oil and gas are the backbone of this country yielding high profits NATURALLY. Thats Economics 101.

[01WhiteCobra]

Jeeeez...you're really weeping for these assholes aren't ya?

If Raymond were to be making brillient (honest) decisions all day, then "slinging chains" all night, I still don't think he's worth $150,000 a day.

Nah... I mean Exxon stock price only increase 500% during his tenure, beat the S&P 500 every year during his tenure, merged with Mobil and saved 8 billion in costs, has constantly exceeded competitors, built Exxon from a small Texas o&g concern into the largest global company...

Just the costs savings alone with the Mobil merger (when everyone else thought Exxon was fucking stupid)... he took 5% of that for his retirement leaving 95% of it for the company, year after year, after year.

What a fucking worthless clown this guy was for ExxonMobil.

[black01gt]

Warren Buffet has made over a $1billion in silver alone in the last couple years.

* * *crickets* * *

What I thought.
That's great. Especially since I didn't feel a thing.

[black01gt]

I still see you are spewing the rhetoric.
No rhetoric, just opinion. I wish the Fortune 500 well. It's just that it often appears to look like me and most of my countrymen against them...for survival in the future.

If you personally and directly are affected by this stuff great. But for the majority of this country (we used to call it The Middle Class before Dubya blew it up) there's no benefit of being a big fan of Exxon or wall street. I know, they don't need fans to have us waiting in line. They can just hold a gun to our head.

[black01gt]

No but I do. I work for a service company. Im out in the fields, I see what goes on. My family has been in the business for decades as well. Shall I go on? Believe half of what you see, and nothing of what you hear. God forbid someone makes a profit on the bloodline of the United States, imagine that. In case you didnt know, oil and gas are the backbone of this country yielding high profits NATURALLY. Thats Economics 101.
OK, I see...
Well if you had another job, like say driving a lot and it costing you expensive pain to work, I submit you would not see it as "a profit on the bloodline of the United States (oh brother)", but as a massive obscene rip off...gouging..like most of us.

[AL P]

When it comes to executives you have to pay for talent. Not everyone could do that job. It's a lot like the market for a professional athlete.

[01WhiteCobra]

No rhetoric, just opinion. I wish the Fortune 500 well. It's just that it often appears to look like me and most of my countrymen against them...for survival in the future.

If you personally and directly are affected by this stuff great. But for the majority of this country (we used to call it The Middle Class before Dubya blew it up) there's no benefit of being a big fan of Exxon or wall street. I know, they don't need fans to have us waiting in line. They can just hold a gun to our head.

If you want to take aim at CEOs that don't deserve what they got in compensation look at Ray Irani at Occidental or Robert Simpson of XTO Energy.

When looking at Exxon during Raymond's tenure he got a justifiable package. His pay matched the performance of Exxon, not during the last 2 years, but for 13 solid years at the helm of Exxon and his 40+ year career there.

On top of that he wasn't some Harvard-bred MBA. He was a chemical engineer that started as a production research analyst for Exxon in BFE Oklahoma when Exxon was "just some Texas oil company."

He is the epitome of the American Dream: Work hard, bust your ass, use your brain and you will succeed without being born with a silver spoon in your mouth. For those that don't like it there are certainly enough socialist countries in the world where they do cap pay, you get 6 weeks vacation a year and work less than 40 hours a week.

[AL P]

For those that don't like it there are certainly enough socialist countries in the world where they do cap pay, you get 6 weeks vacation a year and work less than 40 hours a week.

....Croissant anybody??

[98COBRA#770]

Maybe it should be EXXXon!

[TexasDevilDog]

For those that don't like it there are certainly enough socialist countries in the world where they do cap pay, you get 6 weeks vacation a year and work less than 40 hours a week.

They have tiny cars with 1.0L engines, anything bigger warrants a 100% tax on them.

[01WhiteCobra]

They have tiny cars with 1.0L engines, anything bigger warrants a 100% tax on them.

Not that they are *cough* *cough* socialist but when I was in England last October I was amazed at the number of Chevy pickups and Chevy Tahoes I witnessed going down the street.

At first I though maybe Bush or Cheney was in town. Can't imagine paying 3 bucks a liter for gas and driving a Tahoe.

[bikerboy574]

Men with know how make money with smart business, that is a constant. The breadth of the dollar totals, in salary, pertains to the individual business at hand. Most CEO's forfeit a lot for their employees well being. Taking relatively less money than they could to benefit the corporation. These guys lead the machines the best they know how. You haters are just mad because he's severely richer than you and working smarter not harder ;) . Can't hate him cause he makes more money a day for playing in the "big boys sandbox." If you want to hate some body... think about who controls a large portion of the worlds oil, causing senseless price inflation for everyone else, rather than just who manages and markets better. Those directly responsible for making what we have more valuable(i.e. "expensive") by vehemently hoarding what they have.....*Cough*Middle East*Cough*........ juuuuuust a thought.

[Trip McNeely]

Men with know how make money with smart business, that is a constant. The breadth of the dollar totals, in salary, pertains to the individual business at hand. Most CEO's forfeit a lot for their employees well being. Taking relatively less money than they could to benefit the corporation. These guys lead the machines the best they know how. You haters are just mad because he's severely richer than you and working smarter not harder ;) . Can't hate him cause he makes more money a day for playing in the "big boys sandbox." If you want to hate some body... think about who controls a large portion of the worlds oil, causing sensless price inflation for everyone else, rather than just who manages and markets better. Those directly responsible for making what we have more valuable(i.e. "expensive") by vehemently hoarding what they have.....*Cough*Middle East*Cough*........ juuuuuust a thought.
Excellent point. Very well said.

[98COBRA#770]

Nope not in this case I don't buy it.

You mean to tell me that the CEO of Exxon knew we where going to war with
Iraq and played his cards right.

I think he just happened to be there at the right time.

[bikerboy574]

Nope not in this case I don't buy it.

You mean to tell me that the CEO of Exxon knew we where going to war with
Iraq and played his cards right.

I think he just happened to be there at the right time.


Where or to whom was this directed in reply too? Did not specify. :rolleyes:

[line-em-up]

http://i28.photobucket.com/albums/c205/FeatMike/FatCat.jpg

Looks like he's saying, "I just shit my britches. huh huh huh huh!! :D"

[D]

WhiteCobra...didn't you know by now that black01gt is an idiot?

ExxonMobil was not have the highest profit margin of any company in the country last year for no reason. They're a very well ran company. I do not know much about how the oil industry works to really argue the discussion, but I do know that the gas prices suck. Fortunately my Mach 1 manages 27 MPG on the high way and around 20 in town. :o

[black01gt]

WhiteCobra...didn't you know by now that black01gt is an idiot?

ExxonMobil was not have the highest profit margin of any company in the country last year for no reason. They're a very well ran company but I do know that the gas prices suck. :o
Make up your mind. Jeeez! And you call me an idiot? (course you're just suckin up to WC :D )

[D]

Make up your mind. Jeeez! And you call me an idiot? (course you're just suckin up to WC :D )

My mind is made up. I'm calling you an idiot because I don't like you, what you say, what you claim to stand for, and what you claim to believe. I think you're a big contradiction and probably did one too many drugs back in the day (which was a Wednesday). I'm not sucking up to 01WhiteCobra...just letting him know not to waste any more of his time using his brain to think of things to use as rebuttals to your rhetoric. Smart people like him do not need to be arguing with no brain nimrods like you.

[black01gt]

Smart people like him do not need to be arguing with no brain nimrods like you.
What's that "slurping" noise? Oh..that's you sucking up again.

$8,400,000,000.00 profits for eXXXon in 3 months. That should really turn you on. "Gee sirs, may I pay $5 instead of $3? I just wanna help any way I can cause your such a well run company and all..." :rolleyes:

[Vertnut]

What's that "slurping" noise? Oh..that's you sucking up again.

$8,400,000,000.00 profits for eXXXon in 3 months. That should really turn you on. "Gee sirs, may I pay $5 instead of $3? I just wanna help any way I can cause your such a well run company and all..." :rolleyes:
They missed the Wall street estimate...should have been $9 billion. The stock should fall a little...for the day. ;)

[01WhiteCobra]

What's that "slurping" noise? Oh..that's you sucking up again.

$8,400,000,000.00 profits for eXXXon in 3 months. That should really turn you on. "Gee sirs, may I pay $5 instead of $3? I just wanna help any way I can cause your such a well run company and all..." :rolleyes:

Boo fucking hoo.

Here, open up an account here and participate in your own ass-raping by Raymond. It is obvious you are the smart human in the world and know everything about oil and price gouging. You should be able to be millions, probably bajillions, trading oil futures.

http://www.dtfutures.com/indexg.html

[D]

What's that "slurping" noise? Oh..that's you sucking up again.

$8,400,000,000.00 profits for eXXXon in 3 months. That should really turn you on. "Gee sirs, may I pay $5 instead of $3? I just wanna help any way I can cause your such a well run company and all..." :rolleyes:

Tell me what the profits for other oil companies like Shell, Texaco, and the other big ones are. Don't forget that Mobil also makes other oil products in other markets as well.