Schuler reprise – Knoxville News Sentinel comment

Schuler reprise – Knoxville News Sentinel comment
February 19, 2011

As restated here, the TVA OIG punted to a congressional committee who because the committee was controlled by Democrats ruled “no problem”, that Shuler did nothing wrong. That was purely a political decision; the TVA OIG is not supposed to be swayed one way or the other when obvious violations of the law are concerned.

Yes, the case should be reopened by a higher level to investigate possible dereliction of duty by the OIG and for not pursuing an obvious violation of the law by CEO Tom Kilgore when he admitted that he had discussed the case with Schuler. There is no indication that Kilgore has been punished in any way for his infraction of federal law.

The Board should show its cahunas and step in and push for removing clouds from its long stained reputation.

Somehow, many in TVA believe that it is a privately held corporation and that federal laws are inapplicable. In the instance of the pay for CEO Kilgore of $3.6 million justified by comparability with industry salaries, their pay is based on how much they are worth to stockholders; TVA has none, therefore the comparability is based on a false assumption.

Some slack could be given the TVA CEO if in fact he had shown any efforts to cut costs, increase efficiencies and bring rates down for ratepayers. The CEO has exhibited none of those qualities and has gone in the reverse direction by increasing staff, spending millions on a fruitless re-reorganization of TVA and obligating TVA ratepayers for billions more. A regular stockholding company would have booted this board and its CEO long ago.

Ernest Norsworthy
http://norsworthyopinion.com
emnorsworthy@earthlink.net
https://norsworthyopinion.wordpress.com

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