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Message
Trump eyes sale of TVA
Posted on 2/12/18 at 11:59 am
Posted on 2/12/18 at 11:59 am
LINK
quote:
President Trump is proposing that the Tennessee Valley Authority and other power utilities owned by the federal government should consider selling their transmission assets to generate taxpayer funds to help pay for the $1.5 trillion infrastructure program being outlined today.
In the White House infrastructure plan submitted to Congress today as part of the proposed fiscal 2019 budget blueprint, the Trump administration said TVA and other similar federal agencies should be given the authority to divest of their assets "where the agencies can demonstrate an increase in value from the sale would optimize the taxpayer value for Federal assets." President Trump said the potential divestiture of the federal agencies is part of "a roadmap for the Congress to draft and pass the most comprehensive infrastructure bill in our nation's history."
The Trump administration proposal is similar to one floated by former President Obama budget planners in 2014. That plan from the Obama Office of Management and Budget was later dropped after objections were raised and the federal utility took steps to trim its spending and debt.
Any sale of TVA transmission assets would have to be approved by Congress and the White House suggests that TVA conduct a study of the merits of such a sale.
9
Posted on 2/12/18 at 12:00 pm to Wally Sparks
I'm okay with this.
Posted on 2/12/18 at 12:01 pm to Wally Sparks
Privatize it. It's not the Great Depression anymore. Feds aren't needed in stuff like this. Private companies can do this better for a lot cheaper. Civil employees are generally worthless. Need to cut the federal workforce down.
Posted on 2/12/18 at 12:21 pm to Wally Sparks
Would be great if we totally deregulated utilities.
Posted on 2/12/18 at 12:26 pm to Wally Sparks
quote:
At $400,000 per year, President Donald Trump doesn’t even come close to matching the annual income of the highest paid employee in federal government. That honor goes to the president and CEO of the Tennessee Valley Authority, Bill Johnson, whose salary was $4.9 million this year. Johnson had a $995,000 base salary, but after a year of company cost savings, safety records, lower electric rates and low carbon emissions, bonuses put Johnson’s overall compensation package at nearly $5 million. Last week, the TVA board of directors gave Johnson a 5.5 percent pay raise that, with bonuses, could give him $6.5 million annually.
LINK
Posted on 2/12/18 at 12:27 pm to Wally Sparks
Workers might bitch and moan and the media will run with stories about how the South hates Trump now but there's no chance of losing Tennessee and Alabama so do it.
Posted on 2/12/18 at 12:33 pm to Bjorn Cyborg
I saw a list years ago of the top paid federal employees. About 6 of the top ten were TVA employees.
Posted on 2/12/18 at 12:34 pm to Wally Sparks
The TVA makes the government significant profits. It would be dumb as hell to sell it
Posted on 2/12/18 at 12:41 pm to CommoDawg
quote:
The TVA makes the government significant profits
Eh, they only net about 100 mil off of over 1 billion in revenue. The private sector would unquestionably do better. Let government focus on governemnt.
Posted on 2/12/18 at 12:41 pm to CommoDawg
It's not all as wonderful as you make it out to be.
LINK
LINK
quote:
By law, TVA has a $30-billion limit on bonds and other types of debt. As of September 2016, TVA’s debt totaled about $26 billion—about $24 billion of which TVA counts toward the limit.
According to TVA, managing its debt and unfunded pension liabilities are major management challenges. TVA is required to report performance information on those challenges, but hasn’t done so—which reduces transparency and raises questions about how it will meet its goals.
Posted on 2/12/18 at 12:46 pm to Bjorn Cyborg
It’s like he gets a payment anything gets done. There’s probably a line item for him in every invoice.
Posted on 2/12/18 at 12:47 pm to Wally Sparks
Totally fine with this. It will reduce the number of government employees too.
Win for taxpayers
Win for taxpayers
Posted on 2/12/18 at 12:50 pm to LSU Wayne
quote:
unfunded pension liabilities
This is the problem with government. This little jewel continues to rear its ugly head.
Posted on 2/12/18 at 12:57 pm to Bjorn Cyborg
Couple of years ago TVA killed the retirement program for all employees under 10 years of service. The remaining got to keep a small portion. It is strictly 401k based now. This threat while large will literally die out over the next couple of decades.
Posted on 2/12/18 at 12:57 pm to Loserman
quote:
Win for taxpayers
Except TVA or any of its employee's dont take taxpayer money..
TVA is a self-funding agency..
This post was edited on 2/12/18 at 12:58 pm
Posted on 2/12/18 at 1:01 pm to Wally Sparks
On time and under budget
Posted on 2/12/18 at 1:04 pm to CommoDawg
quote:
The TVA makes the government significant profits. It would be dumb as hell to sell it
You need to look at the TVA debt incurred from some atomic plants that were very expensive and never completed. Also the coal ash remediation attached to the coal fired generating plants.
It's not a profit, hint, hint, when you owe multi millions of dollars.
Posted on 2/12/18 at 1:04 pm to Vacherie Saint
quote:
Eh, they only net about 100 mil off of over 1 billion in revenue. The private sector would unquestionably do better. Let government focus on governemnt.
This would be just like Russia, which created billionaires overnight by giving away government owned operations. Which one of Trump’s friends or children would make a hundred million every year off the TVA?
Posted on 2/12/18 at 1:10 pm to TBoy
quote:
giving away government owned operations.
You are so eat up with stupid it's laughable.
Posted on 2/12/18 at 1:11 pm to TBoy
The TVA Charter prevents their 135 or so utilities from turning a profit...but exempts them from State oversight... or at least that has been TVA's argument in court on numerous occasions... TVA claims to be soley responsible for the oversight of these entities.
But as far as I can tell there is very little actual guidance from TVA and these utilities spend money at will to keep from showing a profit.... some of them are holding hundreds of millions of dollars in special funds, whereby they avoid paying any federal taxes.
It is a corrupt system and needs reform
But as far as I can tell there is very little actual guidance from TVA and these utilities spend money at will to keep from showing a profit.... some of them are holding hundreds of millions of dollars in special funds, whereby they avoid paying any federal taxes.
It is a corrupt system and needs reform
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