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Exxon CEO’s Personal Use of Company Airplanes Jumps Sixfold

Bloomberg -- Exxon Mobil Corp. (XOM)’s costs for Chairman and Chief Executive Officer Rex Tillerson’s personal use of company-owned aircraft increased sixfold in 2011, according to a U.S. regulatory filing.

Tillerson’s personal use of company planes cost $197,323 last year, compared with $29,409 in 2010, Irving, Texas-based Exxon said today in a U.S. Securities and Exchange Commission filing. The expense was included in executive compensation disclosures that showed Tillerson’s total compensation rose 17 percent to $34.9 million in 2011, including stock awards and deferred compensation.

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Submitted Apr 15, 2012 By: ziyulu

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52MPG Champion Author Dayton Posts:7,402 Points:1,769,405 Joined:Apr 2006	Message Posted: Apr 16, 2012 4:10:01 PM Ignore 52MPG Report Abuse Wonder why the increase in personal travel?
ClarkSC Champion Author South Carolina Posts:3,219 Points:1,039,105 Joined:May 2010	Message Posted: Apr 16, 2012 8:56:07 AM Ignore ClarkSC Report Abuse If they can cheat the stockholders, why not. Nothing's changed.
Sparky19038 Champion Author Philadelphia Posts:2,213 Points:606,865 Joined:Jul 2011	Message Posted: Apr 16, 2012 4:41:51 AM Ignore Sparky19038 Report Abuse @amerk73 Actually, this increase is partly due to increased fuel costs, not the other way around: "The increase in costs associated with Tillerson’s personal use of company planes stemmed in part from escalating fuel prices and maintenance expenses, as well as more trips, Alan Jeffers, an Exxon spokesman, said today in a telephone interview."
Sparky19038 Champion Author Philadelphia Posts:2,213 Points:606,865 Joined:Jul 2011	Message Posted: Apr 16, 2012 4:39:39 AM Ignore Sparky19038 Report Abuse @Agarre No, there is no scandal here. From the report: "The increase in costs associated with Tillerson’s personal use of company planes stemmed in part from escalating fuel prices and maintenance expenses, as well as more trips, Alan Jeffers, an Exxon spokesman, said today in a telephone interview. “For security reasons, the board requires the chairman and CEO to use company aircraft for both personal and business travel,” Exxon said in the filing. The board “considers these costs to be necessary, security-related expenses rather than perquisites, but per the disclosure regulations we report the incremental cost of aircraft usage for personal travel.”"
Sparky19038 Champion Author Philadelphia Posts:2,213 Points:606,865 Joined:Jul 2011	Message Posted: Apr 16, 2012 4:37:26 AM Ignore Sparky19038 Report Abuse @drpepperTX Great posts, Doc!
CdnLynx Champion Author Ontario Posts:1,082 Points:537,765 Joined:May 2008	Message Posted: Apr 15, 2012 11:13:25 PM Ignore CdnLynx Report Abuse Must be tough juggling all his female friends situated around the globe, at least one in every exchange. Life is tough, too much of a good thing, globally!
amerk73 Champion Author Dallas Posts:7,190 Points:1,648,780 Joined:Oct 2008	Message Posted: Apr 15, 2012 10:52:58 PM Ignore amerk73 Report Abuse this make gas price up
Agarre Champion Author Richmond Posts:1,335 Points:263,785 Joined:Feb 2012	Message Posted: Apr 15, 2012 10:29:39 PM Ignore Agarre Report Abuse Scandal ?
letterchunker Champion Author Texas Posts:2,335 Points:683,150 Joined:Aug 2008	Message Posted: Apr 15, 2012 10:01:21 PM Ignore letterchunker Report Abuse Amen drpepperTX
drpepperTX Champion Author Texas Posts:9,165 Points:779,850 Joined:Apr 2011	Message Posted: Apr 15, 2012 9:51:31 PM Ignore drpepperTX Report Abuse Leonardo DiCaprio July 2010 to July 2011 Earnings: $77 million Johnny Depp July 2010 to July 2011 Earnings: $50 million Adam Sandler July 2010 to July 2011 Earnings: $40 million Will Smith July 2010 to July 2011 Earnings: $36 million Tom Hanks July 2010 to July 2011 Earnings: $35 million Ben Stiller July 2010 to July 2011 Earnings: $34 million Robert Downey Jr. July 2010 to July 2011 Earnings: $31 million Mark Wahlberg July 2010 to July 2011 Earnings: $28 million Tim Allen July 2010 to July 2011 Earnings: $22 million Tom Cruise July 2010 to July 2011 Earnings: $22 million Jim Carrey July 2010 to July 2011 Earnings: $20 million Daniel Craig July 2010 to July 2011 Earnings: $20 million Robert Pattinson July 2010 to July 2011 Earnings: $20 million. Brad Pitt July 2010 to July 2011 Earnings: $20 million Matt Damon July 2010 to July 2011 Earnings: $18 million
dhdiesel Veteran Author Riverside Posts:400 Points:44,800 Joined:Feb 2012	Message Posted: Apr 15, 2012 9:32:35 PM Ignore dhdiesel Report Abuse Pocket change! It cost the taxpayers $179,750 Per Hour to fly Air Force One to the NCAA game for Obama. That's only the cost of the plane by the way. And these CEO's didn't go around the country preaching to us about "shared sacrifice" like our spender-in-chief did...
VomVom Champion Author Calgary Posts:3,863 Points:1,648,600 Joined:May 2007	Message Posted: Apr 15, 2012 9:26:31 PM Ignore VomVom Report Abuse The new CEO of Apple Inc, Tim Cook, makes $368 million. Also Apple Inc employs more Chinese in China than Americans. Apple Inc. continues to get the same tax deductions that ExxonMobil gets. Why don't the liberals whine about that?!
Travel1st Champion Author Las Vegas Posts:3,068 Points:496,635 Joined:Aug 2011	Message Posted: Apr 15, 2012 7:55:58 PM Ignore Travel1st Report Abuse Surprise, surprise.
drpepperTX Champion Author Texas Posts:9,165 Points:779,850 Joined:Apr 2011	Message Posted: Apr 15, 2012 7:51:35 PM Ignore drpepperTX Report Abuse For snappytom and other class envy sufferers: Predictably, there's no whining and moaning in self pity from the class warriors over the Hollywood millions or sports millions. Frankly, It's good to see that hard work and a job well done is justly compensated. More should aspire to these heights rather than wallow in self pity and class envy.
coughlin Champion Author San Jose Posts:5,324 Points:1,145,340 Joined:Sep 2009	Message Posted: Apr 15, 2012 6:30:51 PM Ignore coughlin Report Abuse “For security reasons, the board requires the chairman and CEO to use company aircraft for both personal and business travel,” Exxon said in the filing. Those pesky work regulations!
my2002m Champion Author Tulsa Posts:6,213 Points:1,697,980 Joined:Jul 2008	Message Posted: Apr 15, 2012 5:48:02 PM Ignore my2002m Report Abuse And this is a surprise? It happens everywhere not just at oil companies.
dave12 Champion Author Twin Cities Posts:3,237 Points:1,862,940 Joined:Nov 2005	Message Posted: Apr 15, 2012 5:06:40 PM Ignore dave12 Report Abuse What if this title said Obonehead's lavish vacations cost 1000 times more than exxon ceo's trip? Of course all at taxpayers expense and the socialists that are so outraged that exxon makes a profit!
snappytom2 Champion Author Corpus Christi Posts:3,639 Points:279,280 Joined:Jul 2008	Message Posted: Apr 15, 2012 1:59:02 PM Ignore snappytom2 Report Abuse And, the poor poor big oil companies need the tax breaks that warm the hearts of all republicans so we all get to pay more at the pump, so the oil boys can fly through the air with the greatest of ease on our money.
jorobins538 Champion Author Chicago Posts:4,742 Points:643,570 Joined:Sep 2009	Message Posted: Apr 15, 2012 1:25:21 PM Ignore jorobins538 Report Abuse ok
mikerroy Champion Author Albuquerque Posts:2,696 Points:748,150 Joined:May 2005	Message Posted: Apr 15, 2012 1:25:05 PM Ignore mikerroy Report Abuse This is what the 1% do to the rest the 99% of us.
Rancher23 Champion Author Cincinnati Posts:3,333 Points:687,045 Joined:May 2011	Message Posted: Apr 15, 2012 1:22:00 PM Ignore Rancher23 Report Abuse Your welcome!!!! We all help pay for it with the inflated prices at the pump that are not justified!!!!
GRUMPY55 Champion Author California Posts:1,671 Points:434,115 Joined:Oct 2011	Message Posted: Apr 15, 2012 1:20:03 PM Ignore GRUMPY55 Report Abuse Perks
RBob Champion Author Portland Posts:3,470 Points:2,373,655 Joined:May 2004	Message Posted: Apr 15, 2012 1:19:25 PM Ignore RBob Report Abuse Personal use that the company can write off as a tax credit - more hidden subsidies...and he does not have to include in his tax statements.
boldrph Champion Author Topeka Posts:18,535 Points:3,479,340 Joined:Oct 2002	Message Posted: Apr 15, 2012 1:19:11 PM Ignore boldrph Report Abuse fascinating
DYSKYPILOT Champion Author Fort Worth Posts:3,037 Points:653,180 Joined:Mar 2006	Message Posted: Apr 15, 2012 1:18:34 PM Ignore DYSKYPILOT Report Abuse Just some of the perks.
Sarge10 All-Star Author Detroit Posts:872 Points:174,950 Joined:Feb 2010	Message Posted: Apr 15, 2012 1:15:48 PM Ignore Sarge10 Report Abuse With that much money he should be able to buy his own plane!!!
Ahking Champion Author Orange County Posts:3,599 Points:621,360 Joined:May 2011	Message Posted: Apr 15, 2012 1:14:17 PM Ignore Ahking Report Abuse this is how the system works. right or wrong is a separate question.
Fhuang66 Champion Author Cleveland Posts:1,378 Points:937,730 Joined:Oct 2005	Message Posted: Apr 15, 2012 1:14:08 PM Ignore Fhuang66 Report Abuse What is his income taxes paid for the 34.9 million?
puinsai808 Champion Author Honolulu Posts:3,703 Points:755,005 Joined:May 2011	Message Posted: Apr 15, 2012 1:12:30 PM Ignore puinsai808 Report Abuse Big deal. Shall we look at the bank CEOs?
mackconsult Champion Author Portland Posts:5,374 Points:868,410 Joined:Jan 2009	Message Posted: Apr 15, 2012 1:11:39 PM Ignore mackconsult Report Abuse Fire hime
cutter1330 Champion Author Oklahoma Posts:8,143 Points:1,720,425 Joined:Jul 2005	Message Posted: Apr 15, 2012 1:11:21 PM Ignore cutter1330 Report Abuse To be expected with oil prices like they are.
TBRR Champion Author Jacksonville Posts:3,716 Points:605,975 Joined:Dec 2007	Message Posted: Apr 15, 2012 1:10:16 PM Ignore TBRR Report Abuse some jobs have some pretty neat perks.
felinePA All-Star Author Pennsylvania Posts:580 Points:41,105 Joined:Aug 2011	Message Posted: Apr 15, 2012 1:09:29 PM Ignore felinePA Report Abuse That's nice.
bevmill Champion Author Georgia Posts:2,721 Points:628,225 Joined:Apr 2006	Message Posted: Apr 15, 2012 1:07:35 PM Ignore bevmill Report Abuse ok
ItsMorph Champion Author Grand Rapids Posts:33,656 Points:3,213,135 Joined:Mar 2004	Message Posted: Apr 15, 2012 1:06:50 PM Ignore ItsMorph Report Abuse I wouldn't mind having a jet at my disposal.
TWS658 Champion Author Portland Posts:4,543 Points:950,875 Joined:Sep 2005	Message Posted: Apr 15, 2012 1:06:20 PM Ignore TWS658 Report Abuse Ok.
AAxterra Champion Author Tennessee Posts:3,855 Points:794,905 Joined:Aug 2008	Message Posted: Apr 15, 2012 1:06:06 PM Ignore AAxterra Report Abuse ok
muquee Champion Author Harrisburg Posts:2,536 Points:548,645 Joined:Nov 2011	Message Posted: Apr 15, 2012 1:06:04 PM Ignore muquee Report Abuse Tell us something new.
sramroop Champion Author Birmingham Posts:3,442 Points:766,880 Joined:Jul 2010	Message Posted: Apr 15, 2012 1:04:37 PM Ignore sramroop Report Abuse Okay....
MikLamb Champion Author Texas Posts:8,125 Points:2,202,820 Joined:Jun 2006	Message Posted: Apr 15, 2012 1:04:20 PM Ignore MikLamb Report Abuse Not surprising in the least.
buffaloski Veteran Author Indiana Posts:327 Points:1,707,115 Joined:Sep 2005	Message Posted: Apr 15, 2012 1:03:54 PM Ignore buffaloski Report Abuse Personal use of company plane is pretty standard for a CEO
AnObserver Champion Author New Jersey Posts:8,494 Points:2,285,480 Joined:Sep 2005	Message Posted: Apr 15, 2012 1:02:32 PM Ignore AnObserver Report Abuse Remind me again why we are surprised
marlita Champion Author Dayton Posts:3,320 Points:787,240 Joined:Mar 2010	Message Posted: Apr 15, 2012 1:01:28 PM Ignore marlita Report Abuse don't really care
BEGTWO Champion Author Maryland Posts:2,077 Points:751,315 Joined:Sep 2010	Message Posted: Apr 15, 2012 12:58:49 PM Ignore BEGTWO Report Abuse With that type of salary he could could buy his own plane!
ou812again Champion Author Cincinnati Posts:3,450 Points:696,780 Joined:Apr 2011	Message Posted: Apr 15, 2012 12:58:05 PM Ignore ou812again Report Abuse i didn't expect any different.............
q2 Champion Author Alberta Posts:2,174 Points:407,045 Joined:Nov 2008	Message Posted: Apr 15, 2012 12:57:54 PM Ignore q2 Report Abuse No big deal
clpassenubye Champion Author Los Angeles Posts:3,374 Points:776,930 Joined:Mar 2011	Message Posted: Apr 15, 2012 12:56:44 PM Ignore clpassenubye Report Abuse Wow
rbrowdersr Champion Author Detroit Posts:5,841 Points:1,843,435 Joined:Aug 2006	Message Posted: Apr 15, 2012 12:56:38 PM Ignore rbrowdersr Report Abuse Not a concern.
Sam195 Champion Author San Bernardino Posts:8,230 Points:1,602,775 Joined:Oct 2008	Message Posted: Apr 15, 2012 12:53:54 PM Ignore Sam195 Report Abuse I really don't care.
smoketown Champion Author Cincinnati Posts:6,373 Points:1,409,575 Joined:Feb 2008	Message Posted: Apr 15, 2012 12:52:17 PM Ignore smoketown Report Abuse Big deal...........