Employees and retirees should know that private-sector employers are not required to promise retiree health benefits. Furthermore, when employers do offer retiree health benefits, nothing in federal law prevents them from cutting or eliminating those benefits. I guarantee Engine No 1 will be going after retirees and their fat benefits. Look at what corporate raiders have done in the past. This is their MO. Don’t be fooled by the fancy website and talk of renewables. It is a smokescreen. Engine No 1 are wolves in sheep’s clothing.
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Ok Darren.
This post is the equivalent of the scare tactic used by politicians who tell voters the opposing party is planning to cancel their Social Security benefits.
Eliminating pension with no 401k match would be the last straw. There would not be a single person left. Don’t think they can go that route, unless they give us bonuses or some other type of compensation.
Retirees disgust me. They left us this mess! ENGINE NUMBER 1 or BUST BABY! Got the email in my Exxon box ready to vote!!
VOTING ENGINE 1 — F— IT!!!
Fire DW and ALL of this Cheerleaders! Period! The id–t, worthless piece of junk needs to go.
In the 3Q it will be announced that for those under the age of 40, that the pension and retiree health care programs will be eliminated. Has nothing to do with Engine No. 1, this is the continuing benefits program brought to you by DW and the Board.
The fool who thinks engine 1 somehow means going private or board take over. It’s an attempt at telling the titanic “hey dude, watch out for that iceberg up ahead”. Not pirates coming to raid.
The vultures are circling. The vultures will be the last to survive. Protect yourself and those you love. It will be all you have left. And, that could go. Just saying.
in the words of Bud Fox "Blue Horseshoe loves ExxonMobil"...let's break this b*tch up and unlock some value!
Engine No. 1 spells the beginning of the end of XOM. Sadly, it’s what most people on this board want.
Voting Engine 1 all the way. Can't wait to see the ivory tower burn.
OP (aka Darren) - why are wasting time here instead of doing your job?
Maybe you are confused, this is not the EM intranet...we don't drink the kool-aid here. Many of us on this forum were laid off and not afforded the option to retire so not really concerned about retirement benefits. However, I would guess between our 401ks, RSUs, etc that combined we hold a sizable block of shares and I for one want that stock price up so we can all cash out for good. I think the Engine 1 proposal is the best thing on the table now to unlock EM value.
Why don't we think current mgmt will do the same? Already stopped 401k matching... Which has done a lot more for my retirement than the pension.
There is no longer a long term promise for employees here. Just ask the 8% that were fired last year.
Nice try, Mr. Woods! But, I'm afraid that "Time's Up!"
It was a wild ride for you while it lasted!
Okay, Darren.