OT: Gas Prices

[Will]

Caduceus said:
Yet the head of Exxon just retired with a multi-million dollar severance package.

Read it here .

While it seems outrageous to us "common people", multi-million dollar severance packages, and even multi-million dollar salaries, are par for the course in Corporate USA. Top executives are valuable to companies based on business experience and connections with other top executives; the salaries remain so high because if the companies don't pay the outrageous sums, the executives go to other companies that WILL pay. Similarly, severance packages are high amounts because it is very bad business to burn bridges. The person leaving the company will still have lots of contacts throughout the corporate world, and can influence those contacts. It's best to spend what amounts to pocket change (for the corporation) to the departing executive, to keep them happy and to have them not complaining loudly to everyone s/he knows about the company.

Not saying I think it's a good thing, just saying it's not limited to oil companies, and there is an economic reason for it.