TVA Board met in Knoxville, Tn. on 16 April, 2010. Bellefonte Nuclear Plant discussed.
New Board Chairman effective May 18, 2010. Dennis Bottorff of Nashville, TN, serves as chairman and partner of Council Ventures, a venture capital firm. He was chairman of AmSouth Bancorporation in Nashville until his retirement in 2001 and previously was chief executive officer of First American Bank. His term expires May 18, 2011.
Current TVA Board Chairman Mike Duncan resigns effective May 18, 2010. Chairman Mike Duncan of Inez, KY, is chairman, chief executive officer, and director of Community Holding Co.; chairman, CEO, and director of Inez Deposit Bank. He is a director of the regional Center for Rural Development. His term expires May 18, 2011. Chattanooga Times Free Press article of chairman change. http://www.timesfreepress.com/news/2010/apr/16/tva-elects-new-chairman/?breakingnews
TVA Board Meeting April 16,2010 video link may be found at http://www.tva.gov/abouttva/board/ Scroll down to the April 16 Board Meeting, click on the video link.
The following is my 3 minute presentation made to the TVA Board during their listening session for TVA Stakeholders..
"Honorable members of the TVA Board, this opportunity to speak before you is greatly appreciated. My presentation today concerns TVA Debt and Environmental Stewardship."
"TVA Executive Management is requesting the debt ceiling be raised from the mandated Congressional Cap of $30 Billion dollars to an undisclosed increase in the debt ceiling."
"TVA's debt is approximately $23 billion, debt interest is $22 billion, long term commitments and contingencies are approximately $66 billion which includes debt and debt interest. These are the figures reflected in TVA's February 2010 10Q quarterly Financial Report filed with the Securities and Exchange Commission."
"Ladies and Gentleman of the TVA, to raise the debt limit to an undisclosed or for that matter any increase is unacceptable."
"The TVA Act requires you to produce affordable power for citizens of the TVA area. You do a wonderful job at keeping the lights on and the machines running. You know and I know that upgrades of current power production facilities are needed."
"With current trends of decreased electricity demand can you afford to proceed with the astronomical cost of nuclear power?Don't you think 800 mega watt combined cycle natural gas plants are far more economical?"
"The TVA Act requires environmental stewardship of the natural resources under your purview. Ladies and gentleman of the TVA you are lacking in this critical area."
"You have neglected your coal fired plant operations to such an extent engineering failures have occurred and polluted the resources which you are responsible. That is not all you have neglected."
"You have neglected the fishery by not controlling aquatic nuisance weed species. Your neglect in this area has resulted in environmental vigilantism by private citizens attempting to poison and control aquatic nuisance weed species on Lake Guntersville in Northeastern Alabama. "
"It is your responsibility to control nuisance aquatic species. TVA's failure to do so has resulted in the uncontrolled use of poisons on Lake Guntersville. TVA should be partnering and working with the Alabama Department of Conservation and Alabama's Aquatic Nuisance Species Task Force to resolve this complicated problem. Why are you not working in a partnership to facilitate a long term solution to the weed control problem on Lake Guntersville instead of encouraging environmental vigilantism?"
"Our local legislators have informed the community that poisons such as battery acid, anti-freeze and even military defoliants are being dumped into Lake Guntersville to control aquatic nuisance weed species."
"Please be responsible and fulfill your environmental stewardship responsibilities."
"Do not raise the debt ceiling, get your debt under control."
"Thank you for your time."
The big questions, does anyone care that the TVA has a massive debt and they are failing to meet their environmental stewardship reponsibilities?
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