TVA Gives Big Bonuses

Knoxville, TN – The Tennessee Valley Authority paid seven-and-a-half million dollars in bonuses to 138 executives and managers during fiscal year 2003. The authority filed its annual compensation report to the U-S Office of Management and Budget yesterday. It shows T-V-A paid 47 top officers at least 25-thousand dollars each in bonuses. Critics say the practice is extreme for a government agency, but T-V-A officials say they use the bonuses to remain competitive with commercial utilities. The Tennessee Valley Authority has more than eight million customers in Alabama and six other southern states.