The day TVA’s world changed forever
December 22, 2009
It was a fateful day that December 22, 2008; in a way, as scary as a sudden attack from a foreign enemy would be. But TVA is not supposed to be an enemy of the people. Its role today is far different from when it might once have been considered more helpful than harmful by its beneficence.
Today is the first anniversary of that crashing, calamitous and sudden collapse of a house build on a sand foundation. The warnings echo from 5000 years ago and still were not heeded. The house that TVA built on a faulty foundation is no less a reality today than it was 76 years ago.
The whole house of TVA cards was bound to collapse sooner or later because there never was a plan for ending the original TVA experiment and it went its willy-nilly way, moving to the whims of a steel-certain triumvirate with awesome powers unequalled by any other federal agency.
Throughout its life, TVA gradually became a full-blown separate government only distantly acknowledged by its borning parents. The Congress and many administrations passed when it came to the TVA except being irritated by its almost continuous need for appropriations.
The relationship became even more distant when TVA was required to survive off of its own income from electricity taxes (“fees”) that were deposited directly into TVA’s federal account for its own uses. And TVA managed with a current borrowing cap of $30 billion to not request any appropriated tax money.
However, TVA has played a little smoke and mirrors game since 1959 by borrowing more and more money until the debt service on that money tremendously eats into TVA’s operating funds. That is why much needed maintenance on power plants has been neglected. That is why TVA has not aggressively moved to limit more toxic emissions from its coal-fired plants.
On top of all that, TVA has developed a bonus system that begs for shortchanging maintenance, even its own retirement fund.
Now, TVA’s soul has been laid bare and it reveals a “TVA culture” that not only is incompatible within its own operating systems built around individual cells of self-security, TVA is nowhere near the utility industry standards it touts.
TVA management has abused its power originally granted by use of intimidation by eminent domain, its payoffs to state and local governments with bribes TVA calls “in lieu of taxes” (TVA pays nowhere near the taxes of an investor-owned electric utility), making highly questionable land sales and swaps and ingratiating itself through loans and grants and other gratuities.
TVA annually controls about $10 billion of taxpayer money for which it is accountable only to itself. A few congressional hearings this year have resulted in not a single change in the TVA, not even a wrist slap. With such a disastrous event last December, major changes in management would have been expected. The results, however, are promotions and hiring more public relations personnel to respond better to the next event.
When a government uses its power to manipulate funds to its own selfish ends (partying and porno purchases too) and lax accountability (TVA has lost control of thousands of laptop computers) it is time for TVA management to be brought to the bar of justice to justify its greedy means and if found wanting, to be fired or prosecuted or both.
Ernest Norsworthy
emnorsworthy@earthlink.net
http://norsworthyopinion.com