Monday, November 17, 2008

Tennessee Valley Authority ~ CEO Tom Kilgore...Big Raise !

TVA Raises CEO's Pay to $3.27 Million

Reported by: Associated Press Email:

The Tennessee Valley Authority board has approved increasing the utility chief executive's compensation by nearly a half million dollars.The increase comes a month after the largest power rate increase in three decades took effect.Meeting in Nashville, board members approved improving President and CEO Tom Kilgore's compensation from about $2.7 million to $3.27 million, effective with the next fiscal year.Kilgore's base salary of $650,000 has remained the same since he became CEO in 2006. He said after the meeting he would not decline the board's decision to raise it to $850,000. On Oct. 1, TVA put an effective 20 percent electricity rate increase into effect, raising the average residential monthly power bill by between $15.80 and $19.80.

Editorial : Poor Ole Tom, I do not see how he gets by ? It seems that not only CEO`S of Major Corporations get obscene pay amounts, but now the public sector is trying to catch up ! I have learned today that your rates will only increase by 15% instead of 20% ! The cheaper oil rates are the cause. I kinda believe that it was, because you the public turned up the heat on Ole Tom Kilgore CEO. Mr. Kilgore gets a half million more, you get 5% off !

1 comment:

Anonymous said...

Poor old Tom now wants to pass the cost of the sludge clean-up to the ratepayers. This will really help his bonus next year if he gets his way, after all it was the ratepayers fault the spill happened. A part of Mr. Kilgore's responsbilities is resource management programs. Where was he when the spill happened? Why should his or any TVA employee's bonus' be intact after this horrendous fiasco!