The Arkanssouri Blog.: Disappointing.

Monday, April 17, 2006

Disappointing.

On his radio show last night, even Drudge was bitching about Big Oil's enormous compensation packages for it's executives while gas is pushing three bucks a gallon.

Company executives . . . ANY company executives . . . owe their allegiance to the company owners (in this case, the stockholders), not to the customers.

Of COURSE they're going to pay him huge sums of money. Because they are paying him to make THEM even huger sums of money. That is what he was hired to do, and that is what he is doing.

The people that bitch about it are the same people who bitch when executives get paid while the company's doing poorly.

If executives aren't supposed to get paid when companies either succeed or fail, Mr. Drudge, when are they supposed to get paid?

How much would the price of gas go down if that $400 million retirement package was wiped out? Considering they produce two and a half million barrels of oil per day, at a current price of $70 a barrel (and that's just Exxon), that $400 million retirement package would be frittered away in less than three days.

Resentment of the success of others should be left to the Party of Envy, Mr. Drudge. The only people who have legitimate reasons to be concerned about how much Exxon compensates it's executives are Exxon stockholders. And those stockholders seem rather happy at the moment.

1 Comments:

Anonymous Anonymous said...

I kinda wonder if the employees of Exxon might be bitching a little, though. As real wages stay stagnant (or suck ass and stay at Carter-administration levels, as in Springfield, Missouri), and executive compensation goes through the roof, is it any wonder rank and file employees of large corporations have zero loyalty to those corporations?

R

9:32 AM  

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