ExxonMobil Chairman Compensation in Perspective

Drudge had as its headline all weekend a report about outgoing ExxonMobil Chairman Lee Raymond's retirement package, with the clear implication that the $400 million dollar figure was atrocious. It may be in many people's eye's, and this is going to be one more lovely item picked up by the MSM to skewer "Big Oil." Alas, there is more to it that is certainly going to go unanalyzed and unreported. Bloomberg's excellent compensation columnist (and no executive pay apologist let me tell you) Graef Crystal breaks it down and gives us the all-important perspective.