September 26, 2012 in Letters, Opinion

Avista salaries too high

 

Avista’s latest requests for electric and natural gas rate increases have been opposed by both the Attorney General’s Office and the Washington Utilities and Transportation Commission staff for very good reasons, including the number of such requests by Avista.

Please write to oppose the egregious requests, and consider the following (from Avista’s annual report). In 2011, “total compensation” for the top five executives was $7,427,372 (chief executive officer at $3.5 million and the others at about $1 million each). In 2011, the “total compensation” for 10 directors was $1,325,817 (about $132,500 each). The three-year shareholder return for 2009-2011 was 53 percent. The maximum golden parachutes for the top five executives were $23,920,757 (CEO at $12.5 million and the others at only about $3 million each).

I have requested information on raises and bonuses for workers the past three years but have not received it. The raises, I believe, were at least 3 percent to 4 percent per year. Also, remember that all these numbers increase each year. And guess who funds nearly all of this lavish expense, as well as most of what Avista does for “public service”? Good guess! The customers of the Avista monopoly, our neighborhood predator.

William E. Mahaney

Spokane

Since Mitt Romney appears to be running out of easily available appendages to stuff into his ever-open mouth, what are the chances Rep. Paul Ryan will withdraw his nomination as vice president and run with Republican darling Sen. Marco Rubio on a third-party ticket?

Patrick Conley

Colville

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