• Highest-paid fed official - hog Demnocrat who earned $8M last year - fa

    From Bradley K. Sherman@21:1/5 to All on Thu Apr 9 07:34:53 2020
    XPost: tn.general, alt.fan.rush-limbaugh, sac.politics
    XPost: alt.politics.democrats.d

    The highest-paid US federal official earned $8.16 million last
    year, and he may be in line for a big pay cut as populist
    outrage shapes a new infrastructure package intended to put
    people back to work after the coronavirus outbreak.

    Theres a bipartisan drive to cut compensation for Jeff Lyash,
    president of the Tennessee Valley Authority, as the White House
    and House Democrats begin talks on up to $2 trillion in
    infrastructure spending to offset a spike in joblessness.

    The TVA is a federally owned electricity provider that controls
    dozens of dams built during the Great Depression as a jobs
    program. It also owns three nuclear power plants. But the
    vintage infrastructure project now pays many execs well over the
    US presidential salary of $400,000 and is in the process of
    outsourcing hundreds of jobs to India.

    At a time when people are hurting, business leaders and even
    the president of the United States are forgoing salaries to help
    those in need, but not the TVA president, a senior Trump
    administration official told The Post.

    Its outrageous the American taxpayer is footing the $8 million-
    plus salary in good times, let alone at a time of national
    emergency, the official said.

    The TVAs budget technically is not taxpayer-funded instead
    using electricity revenue from Tennessee and neighboring states
    but its debt of up to $30 billion is federally owned, as are
    its assets. Many conservatives want to privatize the TVA, an
    idea also pushed by the Obama White House, but resisted by many
    lawmakers from the area.

    But Trump administration officials and House Democrats are
    agreeing that at a minimum, executive pay should be reduced.

    Tennessee Democratic Rep. Steve Cohen, a member of the House
    Committee on Transportation and Infrastructure, said the
    compensation is out of line for a public agency and that the
    time is right to act.

    Many [TVA executives] make over a million dollars running an
    agency set up to render energy and aid to a poor region in our
    country that still suffers economically in many areas, Cohen
    told The Post.

    This makes the out-of-line salaries even more distasteful. This
    has been wrong for decades and those salaries should be
    considerably reduced, particularly at this time. But even if we
    werent in the midst of a great health and economic crisis, the
    salaries are way too high and should be reduced greatly.

    Trump and House Speaker Nancy Pelosi (D-Calif.) last week agreed
    in principle that they both wanted a large infrastructure
    package to boost the economy. Talks are just beginning, however,
    on details.

    The push to reduce pay for Lyash and other TVA executives comes
    as a labor union representing TVA workers fights plans to export
    220 IT and engineering jobs to India. Ironically, union
    officials point out the TVA was created to battle domestic
    joblessness, but now may contribute to it.

    Congress is desperately searching for ways to save jobs,
    prevent a recession or depression and to keep paychecks coming
    during a time of crisis, meanwhile a federal entity is sending
    pink slips to Americans and providing paychecks to foreign
    nationals, said International Federation of Professional and
    Technical Engineers president Paul Shearon. Does this make any
    sense? Doesnt this violate not only the needs of our economy
    now, and also violate TVAs long-stated mission?

    Its unclear if Trump personally is involved with efforts to
    reduce executive pay at the TVA, or if hes planning to halt the
    planned outsourcing. Trump routinely rails against private firms
    exporting jobs and firing Americans.

    Union officials say that with potential information about
    nuclear energy involved, there may be national security
    implications for outsourcing jobs.

    TVA spokesman Jim Hopson defended the high executive pay in a
    statement to The Post.

    TVAs CEO total compensation is approximately 25% of the
    compensation of CEOs of comparable utilities, Hopson said. We
    do appreciate the support of the congressional delegation that
    represents the seven states TVA serves in the Tennessee Valley.

    For 2020, Lyashs base salary is $1.058 million, with $3.36
    million in performance and retention grants. His 2019
    compensation of $8.16 million included $5.97 million in future
    pension pay and a $380,000 signing bonus after leaving a job in
    Canada in April.

    https://nypost.com/2020/04/08/fed-official-who-earned-8-million- last-year-faces-big-coronavirus-pay-cut/

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    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Bob F@21:1/5 to Bradley K. Sherman on Thu Apr 9 08:38:43 2020
    XPost: tn.general, alt.fan.rush-limbaugh, sac.politics
    XPost: alt.politics.democrats.d

    On 4/8/2020 10:34 PM, Bradley K. Sherman wrote:
    The highest-paid US federal official earned $8.16 million last
    year, and he may be in line for a big pay cut as populist
    outrage shapes a new infrastructure package intended to put
    people back to work after the coronavirus outbreak.

    There’s a bipartisan drive to cut compensation for Jeff Lyash,
    president of the Tennessee Valley Authority, as the White House
    and House Democrats begin talks on up to $2 trillion in
    infrastructure spending to offset a spike in joblessness.

    The TVA is a federally owned electricity provider that controls
    dozens of dams built during the Great Depression as a jobs
    program. It also owns three nuclear power plants. But the
    vintage infrastructure project now pays many execs well over the
    US presidential salary of $400,000 and is in the process of
    outsourcing hundreds of jobs to India.

    “At a time when people are hurting, business leaders and even
    the president of the United States are forgoing salaries to help
    those in need, but not the TVA president,” a senior Trump
    administration official told The Post.

    “It’s outrageous the American taxpayer is footing the $8 million-
    plus salary in good times, let alone at a time of national
    emergency,” the official said.

    The TVA’s budget technically is not taxpayer-funded — instead
    using electricity revenue from Tennessee and neighboring states
    — but its debt of up to $30 billion is federally owned, as are
    its assets. Many conservatives want to privatize the TVA, an
    idea also pushed by the Obama White House, but resisted by many
    lawmakers from the area.

    But Trump administration officials and House Democrats are
    agreeing that at a minimum, executive pay should be reduced.

    Tennessee Democratic Rep. Steve Cohen, a member of the House
    Committee on Transportation and Infrastructure, said the
    compensation is “out of line for a public agency” and that the
    time is right to act.

    “Many [TVA executives] make over a million dollars running an
    agency set up to render energy and aid to a poor region in our
    country that still suffers economically in many areas,” Cohen
    told The Post.

    “This makes the out-of-line salaries even more distasteful. This
    has been wrong for decades and those salaries should be
    considerably reduced, particularly at this time. But even if we
    weren’t in the midst of a great health and economic crisis, the
    salaries are way too high and should be reduced greatly.”

    Trump and House Speaker Nancy Pelosi (D-Calif.) last week agreed
    in principle that they both wanted a large infrastructure
    package to boost the economy. Talks are just beginning, however,
    on details.

    The push to reduce pay for Lyash and other TVA executives comes
    as a labor union representing TVA workers fights plans to export
    220 IT and engineering jobs to India. Ironically, union
    officials point out the TVA was created to battle domestic
    joblessness, but now may contribute to it.

    “Congress is desperately searching for ways to save jobs,
    prevent a recession or depression and to keep paychecks coming
    during a time of crisis, meanwhile a federal entity is sending
    pink slips to Americans and providing paychecks to foreign
    nationals,” said International Federation of Professional and
    Technical Engineers president Paul Shearon. “Does this make any
    sense? Doesn’t this violate not only the needs of our economy
    now, and also violate TVA’s long-stated mission?”

    It’s unclear if Trump personally is involved with efforts to
    reduce executive pay at the TVA, or if he’s planning to halt the
    planned outsourcing. Trump routinely rails against private firms
    exporting jobs and firing Americans.

    Union officials say that with potential information about
    nuclear energy involved, there may be national security
    implications for outsourcing jobs.

    TVA spokesman Jim Hopson defended the high executive pay in a
    statement to The Post.

    “TVA’s CEO total compensation is approximately 25% of the
    compensation of CEOs of comparable utilities,” Hopson said. “We
    do appreciate the support of the congressional delegation that
    represents the seven states TVA serves in the Tennessee Valley.”

    For 2020, Lyash’s base salary is $1.058 million, with $3.36
    million in performance and retention grants. His 2019
    compensation of $8.16 million included $5.97 million in future
    pension pay and a $380,000 signing bonus after leaving a job in
    Canada in April.

    https://nypost.com/2020/04/08/fed-official-who-earned-8-million- last-year-faces-big-coronavirus-pay-cut/


    Where is your documentation of his membership in the Democratic Party,
    since this is a prime part or YOUR description of him?

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