TVA cuts bonuses; no pay raise for top brass due to Kingston ash spill, economy
Nov 20, 2009 at 12:00 AM
For the first time since the Tennessee Valley Authority revamped its top management about three years ago, the federal utility didn’t give pay raises or performance bonuses to its top managers this year.
TVA executives took home less money in 2009, while another 3,300 managers didn’t get a pay raise due to declining power sales and economic activity and rising cleanup and repair costs from TVA’s Kingston coal ash spill last December, officials said.
“Because of the Kingston (ash spill) and the economic situation, we decided to eliminate any bonus payouts for executives in place at that time,” TVA Director Dennis Bottorff said during an agency board meeting Thursday in Bowling Green, Ky.
Read the full report at the Chattanooga Times Free Press' Web site.