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 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

* * * 

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. 

Haynes Exemplifies Effective Leadership

Our county commissioner is Marty Haynes.  Over the last few months we have been reminded that effective leadership builds trust.  Marty has kept his word to be accountable to voters and govern with conservative principles.  County Mayor Jim Coppinger’s budget was balanced with spending prioritized.  Marty joined a few other commissioners in voting for that ... (click for more)

Roy Exum: The Banjo Boy’s Secret

There is a wonderful email now making the rounds that shows Billy Redden standing in front of the Walmart store where he now works in Clayton, Ga. There is nothing remarkable about the picture because Billy’s looks have changed considerably in the last 40-odd years. But back in the early 1970s, his face was memorized by millions upon millions of people and he was universally known ... (click for more)

Toddler Killed In Car Accident On Boy Scout Road Friday Morning

A toddler was killed in an auto accident Friday morning.  Hamilton County Sheriff’s deputies responded to an accident with injuries at the 1000 block of Boy Scout Road at approximately 11 a.m. on Friday. Upon arrival, deputies found a single car accident involving four passengers. Three of the four passengers were transported to a local hospital and the ... (click for more)

Triple Murder Suspect, Top 10 Most Wanted Fugitive, Captured In New Orleans

Less than a day after being placed on the Tennessee Bureau of Investigation’s Top 10 Most Wanted list, Daniel Lee Henry was captured Saturday night in New Orleans, La.  Shortly after 8:30 CST, Henry, 38, was taken into custody without incident at a hotel by authorities from the United States Marshals Service Task Force, which includes law enforcement officers from the New ... (click for more)

Arkansas Ground Game Pounds Tennessee, 24-20

KNOXVILLE, Tenn. – At least Tennessee didn’t blow a double-digit lead late. Arkansas wiped out the Vols’ 14-0 lead in the first half in front of 101,265 fans at Neyland Stadium and went on to dump Tennessee, 24-20, Saturday night in Southeastern Conference football action. It was Tennessee’s second straight loss and the win snapped the Razorbacks’ three-game skid. ... (click for more)

PHOTOS: Tennessee Falls To Arkansas, 24-20