Comments on: TVA hikes electric rates by 20% http://www.clarksvilleonline.com/2008/08/21/tva-hikes-electric-rates-by-20/ The voice of Clarksville, Tennessee Sun, 22 Nov 2009 14:33:43 -0600 http://wordpress.org/?v=2.8.6 hourly 1 By: Bill Larson http://www.clarksvilleonline.com/2008/08/21/tva-hikes-electric-rates-by-20/comment-page-1/#comment-9945 Bill Larson Thu, 21 Aug 2008 16:50:11 +0000 http://www.clarksvilleonline.com/?p=7869#comment-9945 I think the main problem is the leadership at TVA have forgotten they are public servants and feel they should be able to milk the rate payers just as much as the private industry does... <blockquote>TVA said each executive is paid less than executives in similar positions with utilities in the private sector.</blockquote> They paid record bonuses to their executives in 2003, 2004, 2006, and 2007. Bonuses were down in 2005 yet still exceeded 50 million with the vast majority going to the top executives. Lets take a look at their pay. President Bush is paid $400,000 a year and I am quite sure the his job is more challenging than being the head of the Tennessee Valley Authority. Yet TVA President and CEO Tom Kilgore in 2007 earned a total compensation of $1.84 million (4.6 times President Bush) which was up from $1.59 million (3.975 times President Bush) in 2006. In 2008 Kilgore is set to make $2.7 million (6.75 times President Bush) under a compensation plan approved in 2007 by TVA's board. In 2006 the top 4 executives were paid over $5.7 Million (including bonuses and other compensation) an average of 1.4 Million each... Do you see something wrong here? If these gentlemen are not happy being public servants serving the public, and as a consequence making less than executives in the for-profit power industry. Let them go back to private enterprise. Oh and make sure you cancel their very generous severance packages on their way to the door. 20% increase indeed. I think the main problem is the leadership at TVA have forgotten they are public servants and feel they should be able to milk the rate payers just as much as the private industry does…

TVA said each executive is paid less than executives in similar positions with utilities in the private sector.

They paid record bonuses to their executives in 2003, 2004, 2006, and 2007. Bonuses were down in 2005 yet still exceeded 50 million with the vast majority going to the top executives.

Lets take a look at their pay. President Bush is paid $400,000 a year and I am quite sure the his job is more challenging than being the head of the Tennessee Valley Authority. Yet TVA President and CEO Tom Kilgore in 2007 earned a total compensation of $1.84 million (4.6 times President Bush) which was up from $1.59 million (3.975 times President Bush) in 2006. In 2008 Kilgore is set to make $2.7 million (6.75 times President Bush) under a compensation plan approved in 2007 by TVA’s board.

In 2006 the top 4 executives were paid over $5.7 Million (including bonuses and other compensation) an average of 1.4 Million each…

Do you see something wrong here?

If these gentlemen are not happy being public servants serving the public, and as a consequence making less than executives in the for-profit power industry. Let them go back to private enterprise. Oh and make sure you cancel their very generous severance packages on their way to the door.

20% increase indeed.

]]>