Exxon Chairman To Receive $400 Million Retirement Package

Retiring Exxon chairman Lee Raymond is being given one of the biggest retirement packages ever, worth over $400 million, reports ABC News. This includes a pension and stock options, as well as other perks such as two years' worth of home security, personal security, use of a corporate jet, a car and driver, and more.

This is in addition to the money he has amassed from his annual salary, which was $51 million in 2005. That comes to about $141,000 for each day of work.

During Raymond's 12 years as Exxon chairman, it became the largest oil company in the world, and its stock went up 500 percent. Last year Exxon posted the largest annual profits of any company in history, at $36 billion.

Last year at hearings on gas prices, Raymond told Congress that the current high prices, which are reaching $3 per gallon in some areas, are due to global supply and demand.

I love a story like this it taps into class envy, jealousy and the anger associated with higher prices at the pumps. I hope he spends some of it at the dentist's office.