Tempting fate

The matter of CEO salaries has been an ongoing irritation for many on the "progressive" fringe.  I admit it bugs me too when compensation seems to have little to do with actual job based performance.

It seems Exxon's CEO has managed to come up with one heck of a retirement plan.

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. 

My UNCoRRELATED co-blogger Mick opines:

I am not exactly the kind of guy who protests during World Bank meetings, and I am fully cognizant of the economics of gas prices and annoyed at the routine grandstanding of politicians whenever gas prices get a little high. Yet, I find no way to defend the excessive compensation lavished on top corporate officers. In my view, its just plain theft from the shareholders and I just don't know how it manages to continue.

No, he's not the type.  In fact, in some things he makes me look quite liberal.  But how on earth does ANY performance justify that kind of package? 

Good call my friend.