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Old 11-07-2013, 11:03 AM
 
Location: San Antonio-Westover Hills
6,878 posts, read 18,224,660 times
Reputation: 5152

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I am laughing so hard right now, only because Cory Smith on KSAT is attempting to report live downtown right in front of a church where noon bells just began pealing like crazy when he started talking about the rate increase. I bet he is regretting that decision. LOL!

However, I am not laughing about the rate hike...
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Old 11-07-2013, 12:58 PM
Bo Bo won $500 in our forum's Most Engaging Poster Contest - Tenth Edition (Apr-May 2014). 

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Location: Ohio
16,823 posts, read 33,229,869 times
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We're still paying less for power than most other cities in Texas. It eases my conscience that at least the revenues from CPS are funding city government programs, rather than being used to push up a stock price.

The thing that bothers some people is that the CPS bonus structure makes it more like a private company. Those bonuses make the executives accountable for the utility's performance. IMO, accountability is a good thing.

The media reports, with a hint of outrage, that the CEO is getting a $500K+ bonus, but they omit that bonus is designed in his contract to be 50% of his annual pay. If the utility doesn't perform well in any category, his bonus would be zero.

I wish that more entities run by government were designed that way. We're barely paying our city council anything and look at how they're doing.
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Old 11-07-2013, 01:18 PM
 
Location: San Antonio
243 posts, read 283,801 times
Reputation: 284
Quote:
Originally Posted by Bo View Post
We're still paying less for power than most other cities in Texas. It eases my conscience that at least the revenues from CPS are funding city government programs, rather than being used to push up a stock price.

The thing that bothers some people is that the CPS bonus structure makes it more like a private company. Those bonuses make the executives accountable for the utility's performance. IMO, accountability is a good thing.

The media reports, with a hint of outrage, that the CEO is getting a $500K+ bonus, but they omit that bonus is designed in his contract to be 50% of his annual pay. If the utility doesn't perform well in any category, his bonus would be zero.

I wish that more entities run by government were designed that way. We're barely paying our city council anything and look at how they're doing.
My only question would be does the CPS board ever pay their employees a yearly bonus for a job well done. I ask because I have never heard one way or the other. Just curious.
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Old 11-07-2013, 01:32 PM
Bo Bo won $500 in our forum's Most Engaging Poster Contest - Tenth Edition (Apr-May 2014). 

Over $104,000 in prizes has already been given out to active posters on our forum and additional contests are planned
 
Location: Ohio
16,823 posts, read 33,229,869 times
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Quote:
Originally Posted by geargrinder70 View Post
My only question would be does the CPS board ever pay their employees a yearly bonus for a job well done. I ask because I have never heard one way or the other. Just curious.
The way I heard it described recently is that the CEO's pay is 50% at risk in the form of a bonus, the VPs get 25% of their pay in bonus form, the next level down risks 12% and the next level down risks 6%. I don't remember how far down in the organization that goes.
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Old 11-07-2013, 09:13 PM
 
Location: San Antonio
2,819 posts, read 2,876,106 times
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I wonder if one day they will hold a vote to decrease the rates.
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Old 11-08-2013, 05:29 AM
 
1,515 posts, read 1,557,829 times
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Pretty sure its safe to stop wondering.
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Old 11-08-2013, 07:03 AM
Bo Bo won $500 in our forum's Most Engaging Poster Contest - Tenth Edition (Apr-May 2014). 

Over $104,000 in prizes has already been given out to active posters on our forum and additional contests are planned
 
Location: Ohio
16,823 posts, read 33,229,869 times
Reputation: 13612
Quote:
Originally Posted by Bo View Post
The media reports, with a hint of outrage, that the CEO is getting a $500K+ bonus, but they omit that bonus is designed in his contract to be 50% of his annual pay. If the utility doesn't perform well in any category, his bonus would be zero.
It didn't take long to see an example of this. News 4 showed one of these stories last night. (Their website is broken now, or I'd link to it.) "He got a $560,000 bonus ON TOP OF his annual pay of $475,000!" (I'm paraphrasing and approximating the numbers, since I don't have the actual story in front of me.)

Just understand that the media is trying to stoke public outrage here. If the CEO of CPS Energy didn't have these bonuses built into his contract, his base salary would be in the $1 million range. He'd be making that money every year and there wouldn't be a story. This way, if the company does poorly in some future year, he makes less money.

Maybe the station will throw a party for the public if that happens?

"CPS CEO got a smaller bonus, so we're throwing a party!"

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Old 11-08-2013, 08:50 AM
 
733 posts, read 868,167 times
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if its a public company, and public servants like the president only get ~500k as a salary, why the bloody hell is the CEO of a public energy company making more than the prez?

great guh i hate CPS. i wish i could estimate my bill like they do!
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Old 11-08-2013, 09:09 AM
Bo Bo won $500 in our forum's Most Engaging Poster Contest - Tenth Edition (Apr-May 2014). 

Over $104,000 in prizes has already been given out to active posters on our forum and additional contests are planned
 
Location: Ohio
16,823 posts, read 33,229,869 times
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Quote:
Originally Posted by KM1174 View Post
if its a public company, and public servants like the president only get ~500k as a salary, why the bloody hell is the CEO of a public energy company making more than the prez?

great guh i hate CPS. i wish i could estimate my bill like they do!
Elected official salaries have no relevance to what the head of a public company makes. Our city council reps get paid $10 per council meeting... or $5 a week. The mayor gets twice that much. Yet they make decisions on a city budget that's well over a billion dollars a year.

The council wants CPS Energy to be an efficient, revenue-producing machine, like the state's private utility companies. Because they want that, they need our public utility to be run like those private companies. In order to get that, they need to PAY the folks who run it like the leaders of those private companies, or they'll lose the best executives.
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Old 11-08-2013, 10:25 AM
 
Location: San Antonio
1,262 posts, read 1,764,873 times
Reputation: 1364
And one thing Soules wanted was transparency on how much the solar power added to our rates and he was rebuffed.
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