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




Supporting Joanne Favors - And Response

I am asking you to join me in voting for Rep. Joanne Favors as the state representative of the 28th Legislative District.  Rep. Favors epitomizes the dedication, desire, experience and the ability required to do what is needed for her constituents and others in the city, county and state of Tennessee.  We must always keep in mind that our votes really count, especially ... (click for more)

Plant Native Plants Along The Interstate

Would the Highway Department take an active role in planting along our interstate highways native plants that attract pollinators?  The monarch butterfly in particular would benefit from this.   Mowing could be reduced to once a year to eliminate trees from growing.  This would cut fuel cost.  This could start before, in and around, and after our welcome ... (click for more)

Blakemore, Corbett, Rachels Charged In Red Bank Heroin Death

Three Chattanooga residents have been charged with distribution of heroin that led to the death of an individual in Red Bank in February. Authorities have cited a recent rise in heroin abuse in the Chattanooga area, causing several overdose deaths, including three in one recent weekend.   A federal grand jury on Tuesday returned a superseding indictment charging ... (click for more)

Teen Shot Multiple Times On 4th Avenue; 2nd Youth Shot Twice On Pinewood Avenue; Woman Shot Twice On 25th Street

A teen was shot multiple times on 4th Avenue on Monday night. The victim was 19-year-old JaMarcus Davis. A second teen, 18-year-old Jaylain Ballard, was shot twice early Tuesday morning on Pinewood Avenue. Marion Heard, 45, was shot twice early Tuesday morning on 25th Street. In the first incident, Chattanooga Police responded at 7:20 p.m. to the area of the 2600 block ... (click for more)

UTC Coach Jim Foster Recalls His Memories Of Pat Summitt

University of Tennessee at Chattanooga women’s head basketball coach Jim Foster took time out Tuesday afternoon to meet with local media to answer questions about his relationship with the late Pat Summitt, the former head coach and most recently the Head Coach Emeritus of the University of Tennessee Lady Vols.   The two Women’s Basketball Hall of Fame coaches met each ... (click for more)

Seventh Inning Rally Lifts Generals To 3-1 Win Over Lookouts

The Jackson Generals used a three-run seventh inning to defeat the Chattanooga Lookouts, 3-1.   The Lookouts won the first series of the second half, three games to two.. Lookouts starting pitcher Kohl Stewart was the story early for Chattanooga, shutting out Jackson for six innings. The righty got into trouble in the seventh by allowing a walk and a double. After ... (click for more)