How Original

[Hellion]

:devil Found out last night that Exxon gave a retiring CEO a 400 million dollar retirement package. This is probably from the price gouging on gas prices.This will definately piss off alot of people when they here about this crap.

[phee]

Yes it's annoying... and it's also nothing new

[Der Nister]

Oh how will the oil people live on so little income? Such a pitty they suffer, maybe they should fuck us more at the gas pump.

[LuluVox]

maybe they should fuck us more at the gas pump.

<{POST_SNAPBACK}>

Hot.

[Head Wreck]

pffft.

your not paying what we pay for "gas".

[sass_in_the_pants]

Oh how will the oil people live on so little income? Such a pitty they suffer, maybe they should fuck us more at the gas pump.

<{POST_SNAPBACK}>

Have some sympathy! 400 million just doesn't buy what it used to these days. I mean, sure, 400 million sounds like alot of money, but you can't even buy a country with that kind of dough! Oh, wait, you can, but it's crappy countries like Samoa and Guinea-Bissau and who wants them anyway?

[Onyx]

Hot.

<{POST_SNAPBACK}>

heh heh.

Fuck us more? Maybe fuck us better. I didn't feel a thing except in my wallet.

[Hellheart]

Guess who sets the salaries and bonuses of CEO's?

The board of trustees!

Guess who's on the board of trustees?

Other executives!

And we expected this to be different...why?

[The_Dark]

You mean Stock holders? the Board of Trustees is made up of Stock Holders. People like you and I except they were smart and bought stock in the Oil companies.

[Hellheart]

The Board of Trustees is elected by the stockholders. The technical term is actually Board of Directors, but many corporations nowadays have been calling them Trustees.

Generally one share of stock gets you one vote. Understandably, this means that the really rich and powerful tend to have more votes than anyone else. Futhermore, since the Board is responsible for overseeing the company, particularly the CEO, you don't want stupid people who don't know business on the board.

Who knows how to run businesses well? Successful executives! Who tends to have the shares of stock? Big corporations, the company itself, and mutual funds (who certainly don't want their money pissed away)! Who are they gonna vote into the board? Well, sometimes politicians too, and there have been some exceptions, but most of them just happen to be executives.

And the fun part is, there can be executive on the Board for one company. The CEO of that company could just happen to be a Board member for the aforementioned executive. Guess what they'll be pushing for? :erm

It's a mess. Shareholders want their businesses to continue to do well, so they can get better stocks to sell. The best chance for a business to do well is to elect solid executives to the Board. The executives, in turn, work to ensure that their salaries remain excessively high through a favor-exchanging system of sort. Executives don't screw fellow executives.

I might be oversimplifying the system, but that pattern generally holds true.

[Der Nister]

Generally one share of stock gets you one vote. Understandably, this means that the really rich and powerful tend to have more votes than anyone else.

<{POST_SNAPBACK}>

That would be known as business as usual.

On a lighter note, oil prices have closed at another all time high. Experts are saying this is because oil refineries are shutting down to gear up for summer production. That's odd, I remember way back when gas was 77 cents a gallon and during this time of year gas prices never jumped so high because of this. Why don't the oil companies ( who earned 36 billion in profits last year ) come right out and tell us that they will continue to screw us at the pump I mean, honesty is better than all these b.s. stories they keep throwing at us.

[The_Dark]

A point people seem to either not know, ignore or simply don't understand is that we have enough crude oil to meet our demands. The price of Crude oil has little to no effect on our actual supply of refined gasoline. Why? Because we can't produce enough gasoline no matter the supply of Crude oil. We have needed to build more refinerys for 30 years. We currently have to purchase 30 to 40% of our refined gasoline from the world market. Every year as our refinerys age and thier output reduces that percentage goes up a bit.

Another point is Iran. Most of the crap going on with them and thier Nuclear program is all a freint. The whole point of it is to drive the cost of Crude higher and higher. The tensions, the threats and the rhetoric are all just serving that purpose.

[Der Nister]

Another point is Iran. Most of the crap going on with them and thier Nuclear program is all a freint. The whole point of it is to drive the cost of Crude higher and higher. The tensions, the threats and the rhetoric are all just serving that purpose.

<{POST_SNAPBACK}>

Truth.

[The_Dark]

I do my best to only speak it.

[Hellion]

Brazil solved their problem a long time ago with ethanol,from sugar cane.And their economy is very productive.

[The_Dark]

their problem is not solved.. but close... all thier gas is 25% ethonal and they get almost all thier crude from wells within Brazil.. but they still have to buy some on the world market... a few more years though....