The Rising Influence of Rising Affluence

[DewDiligence]

Re: Corporate greed

From XOM’s SEC filing two weeks ago (http://www.sec.gov/Archives/edgar/data/34088/000003408811000045/r8k120611.htm ):

On November 30, 2011, the Compensation Committee of Exxon Mobil Corporation… established a total ceiling of $259 million in respect of 2011 under the Corporation's Short Term Incentive Program, of which bonuses were granted to certain officers as follows:

• R. W. Tillerson: $4,368,000
• D. D. Humphreys: $2,994,000
• M. J. Dolan: $2,232,000
• H. R. Cramer: $1,905,000
• S. D. Pryor: $1,905,000

Approximately 50 percent of the bonus will be paid to the executive in cash by year-end and the remaining 50 percent of the bonus will be paid on a delayed basis through the use of earnings bonus units

The Committee also established a total ceiling of 11.5 million shares in respect of 2011 to be available for grant under the Corporation's 2003 Incentive Program, of which performance stock awards in the form of restricted stock were granted to certain officers as follows:

• R. W. Tillerson: 225,000 shares
• D. D. Humphreys: 124,000 shares
• M. J. Dolan: 90,800 shares
• H. R. Cramer: 77,000 shares
• S. D. Pryor: 77,000 shares

XOM did not even have an especially good year.