On June 16, the Seattle City Council was booed after approving, 6-2, a pay raise of up to $120,000 for the CEO of Seattle City Light (our publicly-owned utility that has some of the cleanest and cheapest power in the U.S). CEOs pay range would go up to $364,000. Eight days later we learn that this CEO personally let con artists steal $120,000 worth of copper from the utility last year. Under Americas peculiar form of CEO-worshipping capitalism, this is what is called pay for performance. We are paying for his performance. And thank you again, Nick Licata and Kshama Sawant, for voting against the unreasonable raise that was supposedly to attract the best talent.
Posted on: Wed, 25 Jun 2014 06:49:51 +0000
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