Quasi-govt Gas Company Lavishes Execs

by Steve?M

500G PGW bonuses a surprise to Council

By MARK McDONALD

[email protected] 215-854-2646

Last year, the Philadelphia Gas Works quietly handed out $500,000 in bonus money to most of its 55 top officials, including payouts equal to 18 percent of some of its most senior execs' pay.

PGW is preparing to ask for what surely will be a contentious base-rate hike of as much as $100 million, and the bonuses were not disclosed until recently to the city's Gas Commission - or at all to City Council. Council President Anna Verna learned of the company's executive-bonus program only yesterday.

PGW President Thomas Knudsen, whose salary of $320,000 was supplemented with an 8.6 percent or $27,500 bonus, said the increases were linked to the company's improved fiscal condition and the need to retain talented people who made the beginnings of a turnaround possible.

?

?

Posted 9/19/2006 8:46:23 AM by Steve?M

PRIVATIZE IT!

Posted 9/19/2006 9:29:34 AM by Vince Daliessio

Yup that would be the answer. But I think theres too many politicians involved in this (as well as the PLCB) to privatize it. Its too profitable, and too important for giving away high paying jobs.

Posted 9/20/2006 10:32:00 AM by doc

Ya think?

Posted 9/20/2006 1:47:05 PM by Joe Pulcinella

It's a web of unaccountable government agencies, quasi-governmental authorities, non-profits, "advocacy" groups, universities, and connected corporations that REALLY run things, and these people are on a carousel of them for their whole lives unless they get convicted and sent to prison. Just another reason that government must be destroyed.

Posted 9/21/2006 1:33:52 PM by Vince Daliessio