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Hightower Lowdown
Two wrongs don't make a right, but three left turns do. -- Jim Hightower
In This Issue
Our system, designed by Big Business, is ranked 37th in the world
The four Big Lies about universal health care
Also in this issue:
- THE REAL MOTHER'S DAY
- A GUSHER FROM EXXON MOBIL
- "THE K STREET PROJECT"
- THE GRANNY PEACE BRIGADE
- WATCH MY LIPS
Do Something!
February's Lowdown
How corporate money took over Washington--and created the mobs who rant against reform
Despite a constant racket from the forces of the far-out right (Fox television's yackety-yackers, just-say-no GOP know-nothings, tea-bag howlers, Sarah Palinistas, et al.), the great majority of Americans support a bold progressive agenda for our country, ranging from Medicare for all to the decentralization and re-regulation of Wall Street. Indeed, in the elections of 2006 and 2008, people voted for a fundamental break from Washington's 30-year push to enthrone a corporate kleptocracy.
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A GUSHER FROM EXXON MOBIL
Did you make $144,000 last year?
Only two percent of Americans earn that amount of money for a year's work, but former Exxon Mobil CEO Lee Raymond, who retired last December, is among the lucky ones. Oh, mind you, he wasn't paid $144,000 a year…or even a month…or for a week's worth of work. Lee took $144,000 in pay each and every day he was at the helm, including Saturdays, Sundays, and holidays. His total haul during his 13-year tenure was $686 million.
And now we learn that Exxon Mobil didn't give Lee a gold watch when he retired. Instead, he got a pension package worth $400 million. Factor in this wad, and CEO Raymond made $229,000 a day. Assuming he worked eight hours every day, that's $28,000 an hour!
An official statement said simply that this kingly sum was a fair reward for Lee's "outstanding leadership of the business."Well, yes, Exxon Mobil flourished during the Raymond years, especially at the end of his term—and the executive suite at corporate headquarters was even dubbed "The God Pod." But the company's success was due not to god-like genius by Raymond, but to windfall profits generated by the rise in oil and gasoline prices. Exxon's oil wells pump out more crude every day than Kuwait, and it is the world's largest refiner of gasoline.