March 08, 2007

Burnam seeks to rein in electric companies

Jobsanger has more on Rep. Burnam's bill to restrict compensation to utility executives

Burnam's bill would attack this problem head-on. HB 1937 would mandate that any electric company that charges its customers more than 125% of the national average, must pay its executives minimum wage. Yes, he said minimum wage! I guarantee you that if TXU executives are paid minimum wage, they will quickly lower costs to the consumer to restore their enormous salaries.

This is one idea I like. Another is to link the compensation of senior executives to that of the lowest level employees. Maybe limit it to 40 times the earnings of an hourly worker by taxing any amount over at 100%? Extreme? Sure. But isn't making 450 TIMES the salary of your lowest paid worker enough? Let's me honest, these CEO's aren't worth nearly as much as their earning and consumers, as well as shareholders, are the ones who suffer.

Posted by mcblogger at March 8, 2007 09:07 AM

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He is totally not kidding around. That bill is sassy.

Posted by: Josh Berthume [TypeKey Profile Page] at March 8, 2007 11:28 AM

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