Ousted Duke CEO could take home $44m ...

Ousted Duke CEO could take home $44m for day's work

There are 5 comments on the WLWT-TV Cincinnati story from Jul 10, 2012, titled Ousted Duke CEO could take home $44m for day's work. In it, WLWT-TV Cincinnati reports that:

The man unexpectedly appointed as Duke Energy's CEO said Tuesday the executive who was to succeed him in the top job was dumped minutes after creating America's largest electric company.

Join the discussion below, or Read more at WLWT-TV Cincinnati.

“your life is great”

Since: Aug 09

you poop in clean water

#1 Jul 10, 2012
Johnson, 58, signed a three-year employment contract five days before the merger concluded. The new company announced hours after the merger closed Johnson was leaving by "mutual agreement." Johnson is due to receive up to almost $45 million in severance, pension benefits, deferred compensation and stock awards.

The package "will all be paid by the investors and none will be charged to customers of this state," Rogers, 64, assured commission members.

While regulators were promised Johnson would become the post-merger CEO, no one said for how long, Rogers said.

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so next year when Duke raises it's rates to pay for this long-term, will it's customers notice?
Zombie Corpse Rental

San Jose, CA

#2 Jul 11, 2012
Republicans think money grows on trees and CEOs deserve every dime they can get.

Then they piss and moan when the bill comes due.

Twas ever thus.
Wall Street Government

Sebastian, FL

#3 Jul 11, 2012
Duke Energy Ohio Inc. is seeking an $86.6 million increase in electric rates and $44.6 million in natural gas rates for customers in southwest Ohio.

The Cincinnati-based utility on Monday filed applications with the Public Utilities Commission of Ohio, asking for approval of increases that Duke wants to take effect in January 2013.

Under the proposals, the typical residential electric customer would pay about $6.50 more monthly, and the average residential gas bill would go up about $8.21 a month, Duke spokeswoman Sally Thelen said Tuesday. Commercial and industrial customers would see about a 4.6 percent increase in electric rates and about a 3.7 percent increase in gas rates, Thelen said.

Duke spokesman Jason Walls said the increases would allow the utility "to begin collecting from customers the investment it has already made to improve the electric and gas systems".

Duke's investment in Bill Johnson it seems.

“your life is great”

Since: Aug 09

you poop in clean water

#4 Jul 11, 2012
The combined company will serve more than 7 million customers in North Carolina, Kentucky, Ohio, Indiana, Florida and South Carolina.

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well, there are a lot of broke people in those states, but I wonder if they'll notice what's actually going on.

Since: Jul 07

Newport News, VA

#6 Jul 12, 2012
if the guy can negotiate $44m for one day, i'd call that smart. if the shareholders agreed to the deal, it is their business.

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