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Edited on Tue May-27-08 02:01 PM by mac2
Wall Street Journal, pg. A1 and A12 May 25-26, 2008, "Rockefeller Rebellion Turns Up the Heat on Exxon-John D's Heirs Seek Change-Respect".
Exxon's leaders have the Rockefeller family in an uproar. The children of the third generation of the family are challenging the management of Exxon Mobile Corp. successor. They are concerned over the threat of global warming. Others are also concerned over lost business opportunities or risks.
The company seems unconcerned over the shareholders concerns especially those called Rockefeller. They have struggled to stay unconcerned as they were taught by their family that having a public fight was simply not the "done thing". "David Rockefeller,92, the former chair of Chase Manhattan Bank has taught that activism was "mostly carried on by nuts", says his daughter, Mrs. Goodwin, a Cambridge Mass., economics."
Twice in 2004 the company send in investors-relations executives to talk with the family. Their concerns were not answered.
The next year Exxon just didn't respond to information about what happened.They invited various experts to educate themselves. The family concerns snowballed when the new head Mr. Tillersonson took over. They made little headway.
Mr. Tillerson invited only David Rockefeller (Mrs. Goodwin's father) to a secret luncheon meeting. Although she finally get an invitation it was nothing new. Attempts to meet with other members of the family were handled the same as other investors. David Rockefeller is one of the heads of the Bilderberg Group. They send us to war for oil and power.
The family moved forward and drew up proxy resolutions, etc. (Senator Jay Rockefeller of West Virginia has his holdings in a blind trust and says he's supportive but isn't directly involved). They hate to go public but feel something is wrong with Exxon.
In my opinion, it is exactly what most Americans hate about the arrogant Exxon leaders. Family members should have been involved with the Exxon spill and refusal to pay for the Alaskan damage. That was Jay Rockefeller's responsibility as a shareholder and Senator.
Mr. O'Neill says his family sit on a lot of corporate boards "he says, we're not known for being meddlers." Ah but Mr. O'Neill it is your duty to be meddlers as shareholders and Americans. It is you who we directly hold responsible for what the company you own does. Keep your eyes and ears open...this Wednesday is the showdown.
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