No subject
Fri May 30 04:35:31 MDT 2008
<http://www.nytimes.com/2008/03/02/business/02every.html?_r=3D1&oref=3Dslog=
in>
"Exxon Mobil, in fact, is owned mostly by ordinary Americans. Mutual
funds, index funds and pension funds (including union pension funds)
own about 52 percent of Exxon Mobil's shares. Individual shareholders,
about two million or so, own almost all the rest. The pooh-bahs who
run Exxon own less than 1 percent of the company.
"When Exxon Mobil earns almost $12 billion in a quarter, or $41
billion in a year, as it did in 2007, that money does not go into the
coffers of a few billionaire executives quaffing Champagne in Texas.
It goes into the pension and retirement accounts of ordinary citizens.
When Exxon pays a dividend, that money goes to pay for the mortgages
and oxygen tanks and in-home care of lots of elderly Americans."
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