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Article: House wants information on retirement package for Exxon Mobil executive, asks oil companies for investment information.
- Article from:
- AP Worldstream
- Article date:
- May 4, 2006
- Author:
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H. JOSEF HEBERT, Associated Press Writer
AP Worldstream
05-04-2006
Dateline: WASHINGTON
A House of Representatives committee has ask Exxon Mobil Corp., for detailed information about a lucrative retirement package given to its former chairman, Lee Raymond, calling it an "exorbitant payout" when motorists are paying $3 (euro2.38) a gallon (3.8 liters) for gasoline.
Raymond, who recently retired, was given a total package of nearly $400 million (euro317 million) including salary, bonus, stock options and a one-year $1 million (euro790,000) consulting arrangement.
The request was made as the House Energy and Commerce Committee sent letters to the country's five biggest oil companies, including ...