As energy prices continue to rise, find out which power and gas utility companies gave their CEOs raises by the multi-millions and what that equated to for their compensation bottom lines in 2010 – and how Hawaiian Electric CEO ranks nationally.
Top 10 Power and Gas Utility CEOs Ranked by Increase in Compensation from 2009 to 2010
1. Dominion Resources, Inc.’s Thomas F. Farrell II with a $4,571,772 raise and 2010 compensation of $14,953,536.
2. Westar Energy, Inc.’s William B. Moore with a $4,196,047 raise and 2010 compensation of $5,286,672.
3. Southern Co.’s Thomas A. Fanning with a $3,405,352 raise and 2010 compensation of $11,464,456.
4. Covanta Holding Corp.’s Anthony J. Orlando with a $3,355,150 raise and a 2010 compensation of $5,634,348.
5. Hawaiian Electric Industries, Inc.’s Constance H. Lau with a $3,053,654 raise for a 2010 compensation of $5,119,092.
6. Duke Energy Corp.’s James E. Rogers with a $1,960,538 raise for a 2010 compensation of $8,462,892.
7. Edison International’s Theodore F. Craver Jr. with a $1,907,519 raise for a 2010 compensation of $7,435,907.
8. FirstEnergy Corp.’s Anthony J. Alexander with a $1,763,389 raise for a total compensation in 2010 of $8,744,651.
9. American Electric Power Co., Inc.’s Michael G. Morris with a $1,591,558 raise for total 2010 compensation of $8,684,346.
10. Alliant Energy Corp.’s William Douglas Harvey with a 1,565,364 raise for a total 2010 compensation of $4,750,861.
(Report from SNL Financial, LC)
Senator: Don Horner Has Too Many Jobs
Sen. Pohai Ryan, (D-Kailua, Waimanalo, Hawaii Kai), said Tuesday at a community forum that she believes First Hawaiian Bank chairman Don Horner has taken on too many volunteer responsibilities on the state’s behalf and should focus on just one area.
Horner is on the city’s new transit authority, he heads up the state’s new appointed Board of Education and he also heads of up the Hawaii Visitor and Convention Bureau, the marketing arm of the Hawaii Tourism Authority.
Tough Crowd at Hawaii Kai Talk Story
Rep. Gene Ward, R-Hawaii Kai and Sen. Sam Slom, R-Hawaii Kai-Diamond Head, organized a legislative talk story Tuesday night that included presentations by both of them and their Democrat counterparts in the House and Senate. They briefed their constituents on the legislative session that ended May 5, and after more than 1.5 hours of discussion and questions and answers, Ward asked the crowd to give a letter grade to the legislative session.
No one gave the legislative session and A or B grade, only 3 people gave lawmakers a C grade, and the vast majority gave lawmakers a D and F grade. That was despite a long list of tax proposals that lawmakers said they helped get killed including a new tax on pension and a 25 percent increase to the state General Excise Tax.
Most constituents were unhappy that lawmakers were even discussing a long list of tax hikes – and that they did nothing to improve the business community – when the economy is so poor.