CBS and ABC Play to Jealousy Over Exxon Chief's Retirement Pay --4/14/2006
2. Face the Nation Producer: Hot on Global Warming & Loves McCain
CBS and ABC Play to Jealousy Over Exxon CBS and ABC played to petty jealousies on Thursday night. Both aired silly stories which contrasted the large retirement package, earned by former ExxonMobil Chairman and CEO Lee Raymond, with the average retiree income or the burden rising gas prices supposedly put on a typical family. CBS Evening News anchor Bob Schieffer announced: "The average American enters the golden years -- retirement -- expecting to live on less than $30,000 a year, and that includes Social Security. Well, it turns out to be a little more golden than that if you run a big oil company," as if it's news that a successful executive, just like a network anchor, would retire with more than the average income. Reporter Anthony Mason proceeded to hype the biggest number possible -- "Lee Raymond is being rewarded in his retirement with a breathtaking package worth nearly $400 million" -- though that counts stocks and options which will take years to amass. Mason concluded by pointing out how Raymond made $190,000 a day in 2005 while "the average American worker...earns $43,000 a year." The Washington Post reported that Raymond may just get $8 million a year for his pension -- half what CBS will pay Katie Couric to read a tele-prompter for a half hour a night. ABC's World News Tonight featured a "First Person" account from a man who claimed rising gas prices are "forcing him to change the way he and his family live their life." Gary McIlroy used his ABC platform to lash out: "The oil companies continue to have soaring profits and soaring prices. And the American people are the ones taking it. We're the ones being gouged. So I sent a letter to the White House, saying, you know, we can't take this anymore if prices continue to go up and our paychecks are staying the same." Vargas then ludicrously linked gas prices to Raymond's compensation, as if supply and demand have nothing to do with it: "Those high gas prices, in the meantime, are helping finance one of the richest retirement packages in U.S. corporate history. Former ExxonMobil Chairman Lee Raymond received compensation worth nearly $400 million when he retired last year." Unmentioned by Vargas: How the chief of Disney, which owns ABC, got a lot more when he departed. [This item was posted Thursday night on the MRC's blog, NewsBusters.org. To post your comments, go to: newsbusters.org ] In an April 13 New York Times story, "Exxon Chairman Got Retirement Package Worth at Least $398 Million," reporter Jad Mouawad pointed out: "The total sum for Mr. Raymond's golden years comes to at least $398 million, among the richest compensation packages ever. The record was the payout of $550 million to Michael D. Eisner, the former head of Walt Disney, in 1997." See: www.nytimes.com
Washington Post reporter Steven Mufson noted in his article: "A company spokesman said he did not know whether Raymond, who worked for Exxon for 43 years, took the lump-sum retirement payout or whether he opted for an $8 million-a-year pension instead." See: www.washingtonpost.com # CBS Evening News. Anchor Bob Schieffer intoned: "We have a story tonight that brings new meaning to the term 'golden years.' The average American enters the golden years -- retirement -- expecting to live on less than $30,000 a year [on screen: $27,639], and that includes Social Security. Well, it turns out to be a little more golden than that if you run a big oil company. Here's Anthony Mason."
Anthony Mason: "He was the mastermind of the ExxonMobil marriage, the merger that created the largest and most profitable oil company in the world. Now Lee Raymond is being rewarded in his retirement with a breathtaking package worth nearly $400 million. And if that's not enough, ExxonMobil will also pay his country club dues, give him use of the company aircraft, and a million dollar consulting contract. Of course, $400 million may seem like small change to a company that earned a $36 billion profit last year. And Raymond, over the years, has been touchy when questioned about ExxonMobil's good fortune."
Vargas segued to Raymond: "In the 'First Person' tonight. Those high gas prices, in the meantime, are helping finance one of the richest retirement packages in U.S. corporate history. Former ExxonMobil chairman Lee Raymond received compensation worth nearly $400 million when he retired last year. The company paid Raymond's country club fees and will continue allowing him to use its aircraft. Raymond will pay part of the cost for personal use of the company jet."
Face the Nation Producer: Hot on Global In the CBS News "Public Eye" blog's weekly "10 Plus 1" feature posted Thursday, Face the Nation Executive Producer Carin Pratt sounded typical liberal media notes: She wants more coverage of the planet's demise from global warming, loathes bloggers and loves John McCain.
Pratt once toiled on behalf of far-left Texas activist, politician and radio talk show host Jim Hightower, her online biography reveals: Some of the questions and answers in the Public Eye interview:
# "What single issue should be covered more at CBS News?"
# "Do you read blogs? If so, which ones? If not, what do you read on the Internet?"
# "Who is the most fascinating person you've covered and who is the biggest jerk?"
# "Finally, a question from RonMwanga, posted in comments: 'Is there a fiery competition to get guests among the Sunday morning talk shows? For example, John McCain last week on immigration was the perfect guest. How do you woo a guest like him to come on? Obviously he wants to speak about his message, but is he also barraged by the bookers at Stephanopoulos as well?'"
For the "10 Plus 1" session in full: www.cbsnews.com -- Brent Baker
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