Why is Tom Skains Paid $3 million a Y...

Why is Tom Skains Paid $3 million a Year?

Disgruntled PNG Investor

Charlotte, NC

#1 Oct 13, 2009
The stock price languishes in the low to mid-twenties. The company is going nowhere under his leadership. They have eliminated so many skilled employees that they're just an accident waiting to happen. Why is PNG's Board throwing money at Skain's like he's the next Jack Welch? I just don't get it.

We shareholders aren't getting much out of our investment, and he's being compensated awfully well for what little he's done.
Another Former PNG Mgr

Charlotte, NC

#2 Oct 15, 2009
Yeah, I didn't understand that when I worked there...
A View From Wall Street

United States

#3 Oct 19, 2009
Why do you assume that a steady stock price means inferior performance? PNY pays consistent dividends and maintains a steady investment for investors. If you want more reward with volatile price moves, go to the tech sector.
Not A View

Charlotte, NC

#4 Oct 20, 2009
Here we go again with Mr Skains (AKA A View) trying to make a stance for his salary, yet the public and employess of PNY are mad about his salary compared to his efforts. Look at the previous CEO's of Piedmont and you will see their efforts were tremendous, yet they did not ask / persuade the board of directors to give them such lavish salaries. They just kept doing their job and being a great influence to others. Yet under Mr Skains watch the only thing that has skyrocketed is his salary and his staffs salary and bonuses. Compare their pay and benefits with the previous CEO's and their staffs and their is a huge discrepancy. Don't let them fool you by saying that times have changed that is a lot of bullcrap.
Another Former PNG Mgr

Charlotte, NC

#5 Oct 29, 2009
I'll disagree with one thing you said, "Not A View", I think that times have changed. I think we're living in an era where the "senior leadership" of companies no longer have to create value in organizations in order to be handsomely compensated. Once you're a CEO, you're on the gravy train for some really nice perks and pay, unless you really screw things up. Skains' management team has been sucking the company dry for the past few years, while doing little to justify their compensation. Old friends who are still in the company say that it is sickening to them, but they have to smile and go along with it all or they'll be the next to have their job eliminated.
Anti Skains

Charlotte, NC

#6 Nov 3, 2009
Well I can say that no one in the upper management at PNY is or ever will be a decent manager, or leader. All they want is more and more money and perks for themselves, and less for the workers that got them there. Management seems to reduce the pay and benefits for the average workers, yet increases their pay since them make the hard decisions. So in these times of the bad economy why don't senior managers take zero pay for a year and increase the average workers pay. It is not like they are starving for money or investments.
Watchful Waiting

Charlotte, NC

#7 Nov 10, 2009
...or buy stock in a better-managed gas utility that has performed much better..like ATO for instance.
not a view 2

Charlotte, NC

#8 Feb 11, 2010
I just don't get this! Why does everyone think the employees are unhappy? They do have above average wages and benifits and the employees & management do a great job at PNG
a disgusted 2 cents

Morganton, NC

#9 Feb 15, 2010
So, reading between the lines says that the smoke-n-mirror operational tactics of the government have finally made it fully into grass-roots Americanna. Unplug from the dirty-dogs, incest in Solar or other energy source.

I stumbled onto this blog searching for reasons as to why the gas company won't run a NG line to our home. After a little reading I'm wondering why I don't go total electric and do Solar power? It probably won't make a great difference in the grand skeem of things. We'll all just keep paying more and more for sub-performance.
a disgusted 2 cents

Morganton, NC

#10 Feb 15, 2010
sorry for the typo; but then again; it fits...
A View from Reality

Fayetteville, NC

#11 Mar 6, 2010
PNG Former Manager lets just say Former Employee your statements I could not roll up my pants high enough for your talk. Also if you spend your time hating on people you do not even know or issues you do not understand you are just doing it to yourself. Also Waxhaw person why don't you take zero pay when you screw up at your job and do not say you do not screw up because we all do at some point we are all human. Cannot forget disgusted person I think there is more going on with your issue than you are willing to admit because your statements are contradictory "Could not run a NG Line to my home" and "Should I switch to all electric or solar" ??? What is it do you have it or don't you ROFL... Also please forgive the goofball on youtube from piedmont he did not know people could see him...
Not A View

Charlotte, NC

#12 Mar 9, 2010
View from reality; You must be taking some strong medicine that makes you see things that are not there. If Piedmont's upper management ever listened and took actions on their so called reviews, and surveys to the employees you would see that communication, and trust and things that the employees say is missing in the organization. I guess upper management believes that communication is a one way street, and that you can say things that are not true, and then just say it is not so, and that is that. They are very skilled at lying to employees and misleading the public and the Utilities Commission.
Guilt Free

United States

#13 Mar 13, 2010
The Piedmont Way, "If you don't acknowledge it, it's not there."

Problem, what problem? We're all happy in the $Ivory Tower$.

How's it working for the people below the clouds. Not too good.
A View from Reality

Fayetteville, NC

#14 Mar 20, 2010
Well I responded to one of your posts which I'll state again here get your facts straight before making accusations you cannot prove. Your issues sounds like you made something that was not personal to a personal nature. There is no need to lie about anything in regards to PNG it is all legit and straight forward. It is up to you to accept the truth or make up your own lies.

:)
Not A View

Charlotte, NC

#15 Mar 22, 2010
A View from Reality--

Well I was on the committees, and part of the discussion that presented these findings to Mr Skains and the executive staff. I guess my facts (which come from first hand knowledge, and reading the survey results) are not as strong as your denial. The Ivory Tower does not want to listen to the employees and to the results of 5 years worth of surveys.

I am not lying and what I post. I speak from facts, not from the Ivory Tower you reside in.
A View From Reality

Fayetteville, NC

#16 May 12, 2010
Ok now you report to the CEO I am loving this even more :P So one day we should discuss this issue so I can have you read the ethics policy and the part about integrity :) From all the posts i've read from you I do not see any integrity.
Not A View

Charlotte, NC

#17 May 24, 2010
Ah speaking on integrity does that go for the way you treat Wendy? Does that go for the inapproriate behavior of many of the senior staff when it comes to having relations with your staff and secretaries?

I guess lying to the public, and to the Utilities Commission is okay and not a violation of the ethics you hold so dear.

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