Nobody Deserves $5.9 Million As A Salary - And Response (3)

Tuesday, November 19, 2013

Will someone please enlighten me on what a person does in his job that "entitles" them to make $5.9 million annually?  In my opinion, many in management positions at TVA are overpaid.  Grossly overpaid.   

What does William D. Johnson do to deserve that kind of money? Doesn't taxpayer money pay these outrageous salaries?  I believe that as an American taxpayer, I have the right to say that if you are in a government position and your salary has the word million in it.....you should be ashamed/ 

Nobody, and I do mean nobody, deserves that kind of money.

And we wonder why our economy is so screwed up.   

Ken Snyder
Chattanooga 

* * * 

Many people including myself share Ken Snyder's chagrin at the TVA CEO Johnson's reported $5.9 million annual salary.  At first glance it seems preposterous that a single person can command that kind of pay. 

But when you note that the head football coach at the University of Alabama, Nick Saban, makes $5.6 million in annual compensation, Mack Brown (Texas) makes $5.4 million, and Bob Stoops (Oklahoma) makes $4.6 million, it puts that TVA top dog's salary in a slightly different perspective.  Dig a little deeper, and you'd find that the Alabama sports revenues (all sports) stand at $143.4 million while TVA's reported revenues in 2012 were $11.2 billion.  Yes, that's billion.  It's safe to say that TVA probably spends more yearly for goods and services than the top three football coaches' salaries combined. 

Of course, being one of the largest electric utilities in the world and providing electric power throughout a seven-state region pales in significance to having a winning football season and a championship ring. 

The TVA CEO's salary is paid from power revenues, not tax money. 

Everett Kidder 

* * * 

First off, let's take a look at the salaries of the top 10 CEO's of utility companies. William Spence is the CEO of PPL Corp. He made $5.1 million in 2011. James Rogers of Duke Energy made $8.78 million. Anthony Alexander of First Energy Corp made $18.3 million. I can keep going but the $5.9 million that is paid to William Johnson is well within the standard for CEO salaries, if not on the low side considering he is responsible for $11.2 billion in revenue. 

In order for TVA to stay viable and running without going bankrupt they need to have the best person running it. That takes a comparable salary to other utility CEO positions for the best candidate to even consider the position. For TVA to attract the best and most talented people to work for them they must be competitive in the market place for employees. If they are not the best, candidates will go to private utilities. 

If you suggest TVA reduce all salaries, then what kind of people will they attract for the jobs they need filled. Offer well-paying jobs and attract the best or low salaries and attract mediocre talent. TVA offers some if the lowest energy costs for the Tennessee Valley in the country and you benefit from that. The "overpaid" CEO and employees are keeping your cost down. 

Also your tax dollars do not go to paying their salaries. They sell electricity. That pays their salaries.    

Sam Bratton 

* * *  

It seems that some feel high salaries are justified because X, Y, Z, companies pay their top people X number of dollars it is only fair to pay TVA's top dog a big, big salary. May be okay if measurable goals that can be measured are set and met by the top people. TVA gives bonuses to top leaders that do nothing to reach projected goals.  

Now others use the old, old argument that no taxpayer dollars are used. Seems to me every ratepayer is also a taxpayer and the money comes from the same pocket. How much income is projected and at the end of the year it is reached a bonus given, say 10 percent, but if missed deduct 10 percent from pay. Would work for me. 

N.D. Kennedy Sr. 
Ooltewah




Chattanooga Bar Association Poll Results Of Judicial Candidates Should Not Be Considered

I want to remind the voters to consider Catherine White for judge of Hamilton County Circuit Court and Joe Manuel for judge of Chancery Court in the Republican primary.  Both of their opponents have been advertising that each has won the endorsement of the 800 member Chattanooga Bar Association when their members voted between the candidates who are seeking the judicial position, ... (click for more)

Why We Are Voting For Joe Manuel For Chancellor

We are voting for Joe Manuel for chancellor.   We have known Joe for several years, meeting him first at the Hamilton County Pachyderm Club where he served as president.  He served during a time when he had to find a new meeting place for our weekly meetings and he guided us through that turmoil to a very satisfactory location that he referred to as “Our House” and ... (click for more)

City Set To Move Ahead On Study For Light Rail System; But Some Council Members Skeptical

City officials are set to move ahead in applying for a grant to study setting up a light rail system in Chattanooga, though some City Council members are skeptical. Blythe Bailey, city transportation director, said it might cost $20 million to set up a system that would use the Missionary Ridge Tunnel to go from downtown to the Chattanooga Airport as well as the Enterprise South ... (click for more)

Funeral Arrangements Set For Renee Card Monroe, Killed Monday In ATV Accident

Funeral arrangements have been set for Renee Card Monroe, 60, who was killed, along with her two grandchildren, Reagan and Jaxson Cohen, in an ATV accident on Monday when their ATV toppled into a pond. A lifelong resident of Chattanooga, Ms. Monroe was an active member of Eastwood Baptist Church where she helped lead a small Bible study group. Ms. Monroe was an entrepreneur ... (click for more)

Donnie Tyndall Hired To Lead Tennessee Basketball Program

KNOXVILLE, Tenn. -- University of Tennessee vice chancellor and director of athletics Dave Hart announced Tuesday the hiring of Donnie Tyndall as the Volunteers’ 19 th  men’s basketball coach. Tyndall will be introduced at a press conference at 2 p.m. ET at Pratt Pavilion. The 43-year-old Tyndall joins Tennessee from Southern Mississippi, where he posted ... (click for more)

Cleveland, Thompson Knock Trojans Out Of Share Of 5-AAA Lead

CLEVELAND, Tenn. – Cleveland right-hander Taylor Thompson sent Soddy-Daisy hitters a clear message early in Tuesday’s District 5-AAA baseball game – “I’m on tonight, boys.” Thompson threw a neat three-hitter and struck out 10 as the Blue Raiders defeated Soddy-Daisy, 6-1, at Raider Field to knock the Trojans out of a share of first place in the district. “If I get settled ... (click for more)