Press Mention Knox News Sentinel May 10, 2020
Topical Mention
Cut TVA CEO's salary because it's good public policy, not punishment | Opinion
In this mention
U.S. Sen. Steve Cohen argues that TVA CEO Jeffrey Lyash's salary should be reduced as a matter of public policy to help lower utility bills for constituents, particularly in Memphis and rural Tennessee. Cohen counters Sen. Lamar Alexander's defense of the CEO's compensation by noting that TVA, as a public trust, has a different obligation than private utility companies focused on stockholder profits.
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Cut TVA CEO's salary because it's good public policy, not punishment | Opinion
My interest in resolving this matter is good public policy but also lowering my constituents' utility bills.
Steve Cohen
Guest columnist
Updated May 11, 2020, 11:26 a.m. ET
U.S. Sen. Lamar Alexander recently made the case that the high salary of Tennessee Valley Authority CEO Jeffrey Lyash isn't too high by comparing it to the salaries of the CEOs of publicly traded utility companies. Those CEO salaries, like so many, are way out of line. Even so, the private CEOs aren't responsible for putting the kind of heavy energy burden on their customers that TVA is placing on customers in Memphis and rural parts of Tennessee. The job of the private CEOs is making profits for stockholders, while TVA is a public trust.