Business Briefs: TVA challenged on CEO hiring

Business Briefs: TVA challenged on CEO hiring

November 15th, 2012 by Staff Reports in Business Around the Region

Tennessee Valley Authority headquarters and TVA logo

Tennessee Valley Authority headquarters and TVA logo

Photo by Miranda Harple

TVA challenged on CEO hiring

An anti-nuclear group has filed a complaint with TVA's Inspector General, claiming that the TVA board violated the federal Sunshine Act by hiring a new CEO outside of a public meeting.

Garry Morgan, a member of Bellefonte Efficiency & Sustainability Team, said the decision last week by the TVA board to hire former Progress Energy CEO Bill Johnson to head TVA without a public meeting or notice violates TVA's disclosure requirements.

"If the board of directors are allowed to conduct business in such a manner that promotes secrecy instead of openness, the public's faith and trust will be seriously diminished," he said.

But TVA spokesman Duncan Mansfield said TVA directors met individually with Johnson and approved his hiring through notational approval by each director. "This approach maintains the confidentiality of the candidates and provides clear adherence to the governance guidelines," Mansfield said.

Tax collections up; growth slow

Tennessee's total tax collections for October grew by more than 5.7 percent over a year ago, but taxable sales were up only a meager 0.9 percent compared with a year ago.

Corporate taxes showed healthy gains, but sales tax collections posted the worst quarter growth since 2009 in Tennessee. State Finance and Administration Commissioner Mark Emkes said sales tax collections are the best economic indicator.

"The national leading economic indicators continue to indicate a very slow recovery is in progress," he said.