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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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REPLIES (newest first) Post a Reply
52MPG
Champion Author Dayton

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Message Posted: Apr 16, 2012 5:10:01 PM

Wonder why the increase in personal travel?
ClarkSC
Champion Author South Carolina

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Message Posted: Apr 16, 2012 9:56:07 AM

If they can cheat the stockholders, why not. Nothing's changed.
Sparky19038
Champion Author Philadelphia

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Message Posted: Apr 16, 2012 5:41:51 AM

@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

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Message Posted: Apr 16, 2012 5:39:39 AM

@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

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Message Posted: Apr 16, 2012 5:37:26 AM

@drpepperTX

Great posts, Doc!
CdnLynx
Champion Author Ontario

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Message Posted: Apr 16, 2012 12:13:25 AM

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

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Message Posted: Apr 15, 2012 11:52:58 PM

this make gas price up
Agarre
Champion Author Richmond

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Message Posted: Apr 15, 2012 11:29:39 PM

Scandal ?
letterchunker
Champion Author Texas

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Message Posted: Apr 15, 2012 11:01:21 PM

Amen drpepperTX
drpepperTX
Champion Author Texas

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Message Posted: Apr 15, 2012 10:51:31 PM

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

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Message Posted: Apr 15, 2012 10:32:35 PM

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

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Message Posted: Apr 15, 2012 10:26:31 PM

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

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Message Posted: Apr 15, 2012 8:55:58 PM

Surprise, surprise.
drpepperTX
Champion Author Texas

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Message Posted: Apr 15, 2012 8:51:35 PM

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

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Message Posted: Apr 15, 2012 7:30:51 PM

“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

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Message Posted: Apr 15, 2012 6:48:02 PM

And this is a surprise? It happens everywhere not just at oil companies.
dave12
Champion Author Twin Cities

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Message Posted: Apr 15, 2012 6:06:40 PM

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

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Message Posted: Apr 15, 2012 2:59:02 PM

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

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Message Posted: Apr 15, 2012 2:25:21 PM

ok
mikerroy
Champion Author Albuquerque

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Message Posted: Apr 15, 2012 2:25:05 PM

This is what the 1% do to the rest the 99% of us.
Rancher23
Champion Author Cincinnati

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Message Posted: Apr 15, 2012 2:22:00 PM

Your welcome!!!! We all help pay for it with the inflated prices at the pump that are not justified!!!!
GRUMPY55
Champion Author California

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Message Posted: Apr 15, 2012 2:20:03 PM

Perks
RBob
Champion Author Portland

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Message Posted: Apr 15, 2012 2:19:25 PM


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

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Message Posted: Apr 15, 2012 2:19:11 PM

fascinating
DYSKYPILOT
Champion Author Fort Worth

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Message Posted: Apr 15, 2012 2:18:34 PM

Just some of the perks.
Sarge10
Champion Author Detroit

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Message Posted: Apr 15, 2012 2:15:48 PM

With that much money he should be able to buy his own plane!!!
Ahking
Champion Author Orange County

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Message Posted: Apr 15, 2012 2:14:17 PM

this is how the system works. right or wrong is a separate question.
Fhuang66
Champion Author Cleveland

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Message Posted: Apr 15, 2012 2:14:08 PM

What is his income taxes paid for the 34.9 million?
puinsai808
Champion Author Honolulu

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Message Posted: Apr 15, 2012 2:12:30 PM

Big deal. Shall we look at the bank CEOs?
mackconsult
Champion Author Portland

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Message Posted: Apr 15, 2012 2:11:39 PM

Fire hime
cutter1330
Champion Author Oklahoma

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Message Posted: Apr 15, 2012 2:11:21 PM

To be expected with oil prices like they are.
TBRR
Champion Author Jacksonville

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Message Posted: Apr 15, 2012 2:10:16 PM

some jobs have some pretty neat perks.
felinePA
All-Star Author Pennsylvania

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Message Posted: Apr 15, 2012 2:09:29 PM

That's nice.
bevmill
Champion Author Georgia

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Message Posted: Apr 15, 2012 2:07:35 PM

ok
ItsMorph
Champion Author Grand Rapids

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Message Posted: Apr 15, 2012 2:06:50 PM

I wouldn't mind having a jet at my disposal.
TWS658
Champion Author Portland

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Message Posted: Apr 15, 2012 2:06:20 PM

Ok.
AAxterra
Champion Author Tennessee

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Message Posted: Apr 15, 2012 2:06:06 PM

ok
muquee
Champion Author Harrisburg

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Message Posted: Apr 15, 2012 2:06:04 PM

Tell us something new.
sramroop
Champion Author Birmingham

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Message Posted: Apr 15, 2012 2:04:37 PM

Okay....
MikLamb
Champion Author Texas

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Message Posted: Apr 15, 2012 2:04:20 PM

Not surprising in the least.
buffaloski
Veteran Author Indiana

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Message Posted: Apr 15, 2012 2:03:54 PM

Personal use of company plane is pretty standard for a CEO
AnObserver
Champion Author New Jersey

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Message Posted: Apr 15, 2012 2:02:32 PM

Remind me again why we are surprised
marlita
Champion Author Dayton

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Message Posted: Apr 15, 2012 2:01:28 PM

don't really care
BEGTWO
Champion Author Maryland

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Message Posted: Apr 15, 2012 1:58:49 PM

With that type of salary he could could buy his own plane!
ou812again
Champion Author Cincinnati

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Message Posted: Apr 15, 2012 1:58:05 PM

i didn't expect any different.............
q2
Champion Author Alberta

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Message Posted: Apr 15, 2012 1:57:54 PM

No big deal
clpassenubye
Champion Author Los Angeles

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Message Posted: Apr 15, 2012 1:56:44 PM

Wow
rbrowdersr
Champion Author Detroit

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Message Posted: Apr 15, 2012 1:56:38 PM

Not a concern.
Sam195
Champion Author San Bernardino

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Message Posted: Apr 15, 2012 1:53:54 PM

I really don't care.
smoketown
Champion Author Cincinnati

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Message Posted: Apr 15, 2012 1:52:17 PM

Big deal...........
miiike572
All-Star Author Phoenix

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Message Posted: Apr 15, 2012 1:51:59 PM

More power to him, If you do not like hearing about the abuse than do not buy their product. Keep in mind all of the small business owners that will be affected along the way; but eventually you might get to them.
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