Shareholders of Exxon Mobil Corp. gathered today for the oil
giant's annual meeting while oil drum-wearing demonstrators
protested that the company is helping retard action against global
warming.
Online Stock Market Trading Shareholders were scheduled to take up several resolutions from
dissident shareholders on environmental and executive compensation
issues. Some of the same proposals have failed to win majority
support in past years.
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Stock Investing Course The meeting marks the public debut of new Chairman and Chief
Executive Rex W. Tillerson, who took over in January when longtime
CEO Lee R. Raymond retired. Raymond's confrontations with dissident
shareholders was a staple of past meetings.
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Stock Market Game Before the meeting, shareholders noshed on doughnuts and viewed
company exhibits in the lobby of the ornate Morton H. Meyerson
Symphony Center. Exxon Mobil, the world's largest publicly traded
oil company, earned a record $36 billion last year.
One man was accused of vandalism for tearing up a plastic fence holding back protesters, and the rest were accused of trespassing as they left an enclosure and headed toward the meeting. Halliburton announced plans last month to sell just under 20 percent of KBR, which has diluted the company's financial results and drawn criticism of its multibillion contracts in Iraq. Dave Lesar, the company's chairman and chief executive officer, said Wednesday the company planned to follow the initial offering with either additional public offerings or a sale to a competitor of the remaining 80 percent.
Stock Investing Game Across the street, about 50 demonstrators from a group called
Expose Exxon donned oil drums and chanted slogans such as from
"Human need, not corporate greed." Two dozen police officers
watched the group, and a police helicopter hovered above.
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Journal Prime Rate Street Wall Most shareholders entered from an underground parking garage and
never saw the protestors.
About 100 people protested outside the meeting. A masked man beat on a large empty jug and protesters chanted, "The whole world is watching, " and "Shame on you, " while police made the arrests. A designated area had been set up for the protest, and police had told protesters not to leave that area.
Stock Market News "We're asking Exxon Mobil to start investing in clean
alternative renewable energy like its competitors do," said the
director of Washington-based Expose Exxon, Shawnee Hoover. She also
criticized the company's funding of groups that question scientific
theories that the burning of oil-based fuels are contributing to
global warming.
Stock Investing Basics Over the years, Exxon officials have said it wasn't prudent for
the company to invest large amounts in alternative energy.
Tillerson has said recently that he doesn't expect alternative
fuels to replace oil in the next 30 years.
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