TVA’s 25 year old sweetheart deal

Comment to Chattanooga Times Free Press article on TVA real estate purchase
January 3, 2011

I don’t think the SEC, the TVA OIG or even the FBI should investigate this apparently underhanded deal between the TVA and “Chicago investors”.

This one should go directly to the U.S. Attorney General for investigation and possible criminal prosecution. Nobody grossly over pays for property without some arcane reason, usually underhanded. This appears to have been a very big sweetheart deal.
Again, it is the appearance of wrongdoing that generally gets TVA in trouble and then they have to spend much time and money justifying their actions and wasting ratepayers’ money.

In a recent case, I have been requesting information from the TVA through their FOIA office about their “Green Power Switch” program which appears to be fraudulent. The first response from the TVA five months after making the request is pitifully skimpy and misleading. I have requested that they take another look at my straightforward questions and try to answer them in a comparable and straightforward manner.

This seems to be part of TVA’s cultural problem; to hide, to avoid giving information, and failing to factually report on their actions. What TVA usually puts out is hyperbole and they do not back up most of their grandiose assertions. (See TVA’s economic benefit statements)

Some way, somehow, TVA must be held accountable for its mistakes; that is a trait long missing from the TVA.

Ernest Norsworthy
http://norsworthyopinion.com

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