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76 comments on Drumbeat: March 21, 2009

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NervousRex on March 21, 2009 - 11:14am Permalink | Subthread | Parent | Comments top

BrianT: This really cannot be fixed-it is the Wall Street culture-were this to infect XOM, CVX or COP, as an example, billions of dollars in bonuses would be paid out (looted from the owners) and those would need bailouts-it hasn't happened as the corporate culture is different.

You're kidding, right?

Exxon Chairman Got Retirement Package Worth at Least $398 Million

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BrianT on March 21, 2009 - 11:27am Permalink | Subthread | Parent | Comments top

XOM currently is valued at approx 100X the value of AIG (as an example). This headline therefore would be comparable to "AIG Chairman gets retirement package worth $3.98 million dollars"-you won't see that headline-even the traders that wrecked the company would laugh at such a trivial sum. Why do you think XOM is worth so much-one of the reasons is that management has resisted the temptation to gut the company as the financials have been gutted.

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r4ndom on March 21, 2009 - 4:42pm Permalink | Subthread | Parent | Comments top

That "Trivial Sum" is more than both my parents made over their entire working lives.

Some trivia, eh?

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76 comments on Drumbeat: March 21, 2009

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