Ol' Jed's a millionaire...
J. Stephen Simon, executive vice president of Exxon Mobil Corp., said profits have been huge “in absolute terms” but must be viewed in the context of the massive scale of the industry.”
He asked Mr. Simon what his total compensation was at Exxon, a company that made $40-billion last year. Mr. Simon replied it was $12.5-million annually.
Sen. Arlen Specter, R-Pa., said Exxon's annual profits increased from $11.5-billion to $40.6-billion in the past five years and there was no explanation for “why profits have gone up so high when the consumer is suffering so much.”
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