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Congressman Rips High Pay Rates at Tennessee Valley Authority.
By Richard Powelson, The Knoxville News-Sentinel, Tenn. Knight Ridder/Tribune Business News
Mar. 2--The Tennessee Valley Authority reported that it paid $3.3 million in bonuses to 102 managers last year and also set aside $3.2 million in deferred compensation for 29 of those managers.
Among the beneficiaries last year was the agency's chief administrative officer, Norman Zigrossi, who got $486,000 in bonuses and deferred compensation on top of $1 million in deferred pay for seven years through 1999. He retired in December.
All three TVA board members praised the managers' compensation plans as proven ways to keep many highly skilled executives…
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Source: HighBeam Research, Congressman Rips High Pay Rates at Tennessee Valley Authority.
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