The Washington DC Sustainable Business Network

News and dialogue about how the business community can make the Washington, DC metro area a better place to live and work.

Tuesday, April 18, 2006

What Does $398 Million Say about Social Responsibility?

Proponents of social responsibility eagerly point to examples where doing good and doing well seem linked. The argument is made again and again that consumers, employees, investors and communities all prefer socially responsible companies. As Rod Tidwell would say: "show me the money!"

So what does it say when a company makes its biggest profit ever - and it's chairman recieves one of the most generous retirement packages in history - but the company has relatively low scores for environmental stewardship in an industry that also has low scores.?

ExxonMobil recently replaced Wal-Mart as the nation's most profitable business, leading the Fortune 500 list. Retiring chairman Lee Raymond is recipient of one of the most generous retirement packages in history, nearly $400 million - including pension, stock options and other perks, such as a $1 million consulting deal, two years of home security, personal security, a car and driver, and use of a corporate jet for professional purposes.

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