It must be nice to just not give a damn about your corporate reputation. That has to be the case with Exxon Mobil, which yesterday said it had rewarded recently retired Chairman, Lee R. Raymond, with an eye-popping $398 million compensation package.
In response to cries of outrage from media and pundits alike, Exxon’s Mark Boudreau, said, "The numbers reflect the long-term nature of Mr. Raymond’s leadership at the corporation, and a long and distinguished career." Yeah, sure.
Juxtapose Mr. Raymond’s princely package with the ever-rising prices at the gasoline pumps and one has to assume Exxon Mobil simply doesn’t give a damn about how the public perceives it. Which is understandable when there aren’t any other low priced options for consumers to choose from.
So, I guess if Exxon Mobil were my client I’d advise them to keep raking in the dough and taking advantage of their unique market situation. With the Middle East situation getting shakier by the day, oil prices will probably continue to skyrocket. Which means egregious pay packages like Raymond’s will continue to be doled out while the average American gets screwed. It certainly makes one wonder if anyone in Washington is really paying attention.