So mad I could spit...

[1EZduzit]

Originally posted by: Whoozyerdaddy

Originally posted by: 1EZduzit

Originally posted by: Whoozyerdaddy
Link

SAN FRANCISCO - A federal appeals court on Friday cut in half a $5 billion jury award for punitive damages against Exxon Mobil Corp. in the 1989 Valdez oil spill.

I'll spare you the rest. Basically the SC in 2003 said that punitive damages couldn't exceed 9 times general damages. The current punitive penalty against Exxon is about 17 times damages. The original judgement was $5 billion.

Bear in mind the accident happened 17 years ago and at the time the lawyers from Exxon stated (off the record of course) that everyone involved would die of old age before they paid a cent.

The whole thing is an effort to settle the case once and for all. But at what cost? Buncha bull sh!t if you ask me. Fvcking OJ Simpson justice. If you have the money to hire the right lawyers you can avoid justice. Makes me sick.

The ninth circuit can, once again, blow me.

Yet you vigoursly defend the compensation of Exxon's ex-CEO who retired with a $400 million dollar retirement package (and a salary of $50 million at the time) because they "earn" it. I guess it depends on whose bull is being gored.

Hey. this is why the big boy's get such outrageous compensation. It's not because of their hard work or vision, it's because of their political connections to get crap like this pushed thru and using those connections to get inside information. Why do you think these CEO's can come in, screw up a company and then get a big retirement/golden parachute.

Some people like to call it the "good ole boy network", I like to call it the "country club syndrome".

:roll: What does their pay have to do with the lawsuit? Hmm... Nothing. The awarded damages are not related in any way to the value of the company or its profitability. They were assigned by a jury as punishment for Exxon's negligence.

While I strongly disagree with the way they are handling this issue, the lawsuit does not change the fact that the company itself is clearing record profits. When a company makes money, the people in charge make money.

Don't try to confuse the two issues.

And a penny saved is a penny earned.

Think about it, these two issues are as connected as simeaze twins.

 

[operaman1]

EZ you nailed it on the head. Unfortunately, it all ends up in the pockets of people who got more than they have earned to begin with...

 

[Whoozyerdaddy]

Meh... in 43 days it won't be my fight anymore.

 

[blackangst1]

Wow the ignorance here is astounding. Apperantly you guys have no idea how a CEO is put into position do you? Basing on most of the posts the answer is no. Let me refresh you on a few things:

Exxon is a public company. A CEO's primary job is to make the shareholders as much profit as possible. PERIOD. He has done so. You think the top eschalon of the company is the only one who profits? What a naive thought lol. Its the SHAREHOLDERS (read: public, retirement funds, pensions) who make the money. All this rhetoric is just...ignorant. Get a clue people.

 

[dmcowen674]

Originally posted by: Whoozyerdaddy
Meh... in 43 days it won't be my fight anymore.

What Country are you moving to?

 

[1EZduzit]

Originally posted by: blackangst1
Wow the ignorance here is astounding. Apperantly you guys have no idea how a CEO is put into position do you? Basing on most of the posts the answer is no. Let me refresh you on a few things:

Exxon is a public company. A CEO's primary job is to make the shareholders as much profit as possible. PERIOD. He has done so. You think the top eschalon of the company is the only one who profits? What a naive thought lol. Its the SHAREHOLDERS (read: public, retirement funds, pensions) who make the money. All this rhetoric is just...ignorant. Get a clue people.

So you don't see the irony that Whoozyerdaddy who supports your opinion 100%, is complaining about the company trying to save a buck in an area that directly affects him??

LOL, I'm reminded of a guy I know who was all for corporate farming and vertical integration of the ag industry..... except when they wanted to build a large hog confinement operation several miles upwind of his small rural acreage. People's opinions are largely shaped not by what is right, but by "whose bull is being gored".