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Friday, November 20, 2015

TVA Board of Directors Meeting Highlights, Bowling Green, Kentucky - November 20, 2015

TVA Power Fist - Fair Use for non-profit news reporting.

UPDATE: November 25, 2015 "TVA racks up $6 billion shortfall in its employee pension fund"
From the Chattanooga Times Free Press
"The Tennessee Valley Authority lost $762 million in its pension fund investments in fiscal 2015, leaving the federal agency with a record high $6 billion shortfall in its employee retirement system.
TVA's pension plan, which provides benefits to 23,700 retirees and also includes nearly 10,000 active TVA employees, reported assets of $6.8 billion as of Sept. 30, or only 53 percent of the $12.8 billion that actuaries estimate the plan needs to provide all of the future benefits promised to TVA workers and retirees."  http://www.timesfreepress.com/news/business/aroundregion/story/2015/nov/24/tvpensiplunderfunded-6-billion/337317/

    Then, there is the nuclear decommissioning fund, never hear about it as it is underfunded by at least 100%. Only a government corporation would continue to exist with its pack of liars at the helm. TVA's debt continues to rise and as the article explains, its' pension program is underfunded and mismanaged.
    The $5 billion plus which the rate payers must pay should go against the TVA's debt, so should its interest payments on the debt. That would place the true debt picture at $60 billion dollars which the rate payers are on the hook to pay.


Highlights of the November 20, 2015 TVA Board of Directors Meeting. Unfortunately I was not able to video all of the online streaming portion of the Executives presentation because of a Certificate Problem originating from the TVA or the streaming contractor. The video is not currently available on the TVA web site. 

TVA Operational, Financial Performance Highlighted at Quarterly Board Meeting 

Board Meeting Documents

Listening Session citizen comments about the curtailment of solar power availability, jobs and assistance from the TVA. 

TVA Safety Report by CEO Bill Johnson and Financial Presentation;, including in lieu of tax statements by John Thomas CFO; debt continues to increase.

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