Florida Power & Light chief defends executive salaries (40.5 mill)

[ensho]

http://www.miamiherald.com/news/top-stories/story/1202436.html


As Florida Power & Light tries to win its first increase in base rates in 24 years, the company's CEO defends the $40.5 million spent on executives' pay.


When Florida Power & Light chief Armando Olivera was asked Tuesday whether he and company executives would be willing to give up a pay raise to help struggling consumers with their bills, he offered a short answer.

``No,'' he said, ``because that would be short-sighted.''

Olivera, who as FPL's CEO receives a salary package of $3.6 million a year, told state regulators that although the economy is tight, executive pay is crucial to the successful operation of the company and the pay packages offered by FPL are justified.

``It may not look good to the average person who is struggling by,'' Olivera said. ``When we have to recruit a nuclear vice president, a chief financial officer, you go into the marketplace and you have to pay market rate to get these people, and it's these people who have really built the company to what it is.''
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what a punk!

[trumad]

1. My electric bill is as high as it's ever been...

Can't tell you or you'd faint.

[phantom power]

2. Heh. Another "talent retention" argument.

:eyes:

[fascisthunter]

3. and this is the primary reason customers are paying too much

so that these useless bags of shit in suits and ties can sit around drinking martinis.

[Deja Q]

4. They're hiring people from the outside and not from within. Non-sequitur,

how can the "punk" claim they built his company to what it is?

How often do they recruit new VPs? That would be a sign of a bad company, all that turnover...

Oh, and since many companies' tactics have lowered wages, as part of "the market", it will affect the upper management at some point too.

[redqueen]

5. Greedy little piggies.

(No offense intended to actual pigs.)

[Uncle Joe]

6. No, you greedy dumbass, killing the goose for the golden eggs is shortsighted. n/t

[HowHasItComeToThis]

7. LOCK THESE NUTS UP

[SoCalDem]

8. Totally DISGUSTING

There are essential services that should NEVER be "privatized"..and if that sounds socialistic, then so be it.

delivery/transmission of power & water, basic communication services, medical care, education should be run by public servants, and OWNED by the public.

Some people are so shortsighted... they "sell" their power generating facilities to "save money", and end up subsidizing millionaires and subject to payment of outrageous salaries, in exchange for ever-increasing, and eventually, unaffordable rates ..

[valerief]

9. Freakin' Florida. What else do you expect from that whore of a state?

However, it's not just Florida. The thieving greedy bastards are everywhere.

[4_TN_TITANS]

10. Bullshit...

You could find many qualified people out there who would take a fraction of that kind of pay.