Also noted was the TVA reported a net income of $685 million (down from $1.2 billion because it had to spend $500 million to shore up the retirement system).
The very next article cites that the TVA will pay out $112.5 million in bonuses this year, which includes a 175.5 percent bonus on the CEO’s salary of $995,000. Is that a bonus of $1,746,225, or only $751,225? And with the $500 million into the retirement system, I’m sure the CEO will enjoy many happy years in retirement.
So, if I understand the two articles, TVA can’t clean up a toxic leak into the Cumberland River, but can afford to give $112.5 million to employees in bonuses? What happens to the court order? Will it be ignored? And lastly, why do our electric rates keep going up?
Others can do it
City commissioners are going to pay a consultant a quarter of a million dollars to study and plan the redevelopment of the West Walnut Street corridor, which is only a few blocks long. Come on man.
The city has a qualified planning department, a highly-paid economic development organization, a Public Building Authority, the Johnson City Development Authority and others that should and could do the same task.
Additionally, we have East Tennessee State University with a business department and instructors that teach city planning. Surely to goodness ETSU could study and deliver a plan for the Walnut Street corridor.
Quit throwing my money away.