A LOCAL 8 WEATHER ALERT is in effect into Wednesday due repeated rainfall. A Flood Watch is in effect for our area until 7 AM Wednesday. Where there are more pauses in the rain, totals will be closer to 2 inches but some will receive at least 4 inches of rainfall total. Creeks and streams run high and areas with poor runoff could face flooding problems. Busy commute hours could face more slowdowns, with fog and standing water on roads as well.
Chattanooga (AP) -- US Representative Zach Wamp criticized the Tennessee Valley Authority for paying $1.6 million in a severance package to a top executive who left the utility after three years.
Wamp said the payment to Chief Financial Officer Michael Rescoe leaves a sour taste in the mouth of ratepayers who had two rate increases in the past year.
Wamp said that TVA needs to recognize that it is a quasi-government agency.
Rescoe left in November to take a similar position at Travel Services conglomerate.
He signed a contract guaranteeing he would receive two years' compensation if his position changed. Tom Kilgore was the agency's first CEO as part of a change in the management hierarchy.
Rescoe's agreement was disclosed last week with TVA's announcement of $10.5 million in bonuses for executives this year.
Copyright 2006 by the Associated Press. All rights reserved.
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