Timing is everything. A lot of us are now opening utility bills that reflect the Tennessee Valley Authority's recent 20 percent rate hike. That's a big jolt, but not nearly as big of a jolt as hearing that the utility has just given its CEO a half million dollar pay raise.
That's right. We pay 20 percent more and the CEO gets a 20 percent raise.
Tom Kilgore's new pay package will give him the opportunity to earn $3.3 million per year. This is at a time when many people are struggling just to be able pay their utility bill. In fact, in the Memphis area, people living in 70,000 homes were not able to pay their bill and their utilities were shut off. So for TVA to announce this type of pay raise in this economic climate goes beyond a slap in the face.
If the TVA Board of Directors and Kilgore think they have money to throw around, they might want to spend a little on sensitivity training. They could not be more out of touch with their customers.