TVA Executives Receive 6-Figure Bonuses- raised electrical rates 20%

[Ichingcarpenter]

NASHVILLE, Tenn. - The recession is not hurting the paychecks of some of the Tennessee Valley Authority's top executives, who are cashing six-figure bonus checks.

According to federal documents, the CEO of TVA, Tom Kilgore, makes $655,000 a year. In addition to his salary, he received an incentive bonus of more than $1 million for 2008, bringing his total income to $2.4 million.

TVA's chief financial officer, Kimberly Green, earned a salary of $503,000 in 2008 and received a bonus of $493,000, which made for an income of $1.3 million.

William McCollum, the chief operating officer, earned $726,000, with a $751,000 bonus, for a total of $1.8 million.

Franklin Hampton said the rationing is because TVA raised electric rates 20 percent this year and tacked on a surcharge, amounting to $32 this month for the Hamptons.

"I'm on short-term disability because of knee surgery," said Hampton. "Thirty bucks means a lot."

The surcharge is a fee passed along by TVA to cover the cost of power they had to buy during the hot, dry summer.

TVA awarded the incentives because the executives met certain performance goals.>>>>.snip

http://www.msnbc.msn.com/id/28393625/

[niyad]

1. sadly, this comes as no surprise

they "met certain goals"?? wonder what those are, and are they going to have to give them back with this disaster?

[lifesbeautifulmagic]

2. how is this "meeting of certain performance goals"

not the redistribution of wealth from us to them?

[Captain Hilts]

3. Not acceptable.

FDR: Merciless bastards!
ER: Oh, dear...

[Doremus]

4. "Certain performance goals"

1. Continue the program of hiring dutch boys to put their finger in the dike. New retaining walls cost $$$.

2. Lay off workers and cut production, then buy electricity in backroom deal. Raise prices 200% and blame it all on overpaid blue collars.

3. Any other diabolical scheme you can come up with to save a few bucks. This is why you earn the big bucks! Have fun!

[leftofthedial]

5. It is good to be rich. It has never been more obvious than in 2008 Amurka,

that rich people really ARE better than the rest of us.

Whatever cataclysm is in store for this tired old planet, it's comforting to know that a few genetically superior specimens of our species have socked away enough lucre to survive the ice age or planetary drought and the death of most of us in opulent comfort.

I feel better already. Happy Holidays, everyone!

[butterfly77]

6. same thing happening in michigan..

raises in electrical and home heating..

[CountAllVotes]

7. and to think ...

the people in these parts (not all but the majority) are still thinking that the UAW pays the auto workers $75.00 an hr. while they watch Faux news and listen to Limpballs. :puke:

:dem: :kick: