May 4, 2007
SEVERANCE PAY, NO WAY AT MLGW
The call for a severance package for Joseph Lee is ridiculous. I show below a section of the 2004-10-07 notice from Joe Lee entitled “First 90 days yields streamlined organization, increased efficiency and collaboration”
Elimination of Severance Policy
At Mr. Lee’s recommendation, MLGW’s board of commissioners voted to rescind the utility’s severance policy. With the elimination of this policy, the utility has saved in excess of $750,000.
This severance policy was voted on by the board of MLGW on September 2, 2004. Mayor Willie Herenton and new utility president Joseph Lee had criticized this policy as too generous. The board approved the minutes of the Aug. 19 meeting at which it had voted to scuttle the policy that would have granted some executives six-figure severance packages in the event they were fired.
The policy covered all 2,700 MGLW employees and the utility had to reach agreement with the International Brotherhood of Electrical Workers Local 1288. Lee announced the union had consented to the elimination of the policy in exchange for a clause providing for advance notice and other protection for workers in the event the utility was sold.
SEVERANCE PAY, NO WAY AT MLGW
The call for a severance package for Joseph Lee is ridiculous. I show below a section of the 2004-10-07 notice from Joe Lee entitled “First 90 days yields streamlined organization, increased efficiency and collaboration”
Elimination of Severance Policy
At Mr. Lee’s recommendation, MLGW’s board of commissioners voted to rescind the utility’s severance policy. With the elimination of this policy, the utility has saved in excess of $750,000.
This severance policy was voted on by the board of MLGW on September 2, 2004. Mayor Willie Herenton and new utility president Joseph Lee had criticized this policy as too generous. The board approved the minutes of the Aug. 19 meeting at which it had voted to scuttle the policy that would have granted some executives six-figure severance packages in the event they were fired.
The policy covered all 2,700 MGLW employees and the utility had to reach agreement with the International Brotherhood of Electrical Workers Local 1288. Lee announced the union had consented to the elimination of the policy in exchange for a clause providing for advance notice and other protection for workers in the event the utility was sold.
posted by watchdog at
8:47 AM
3 Comments:
Officially Lee resigned. He is not entitled to severence.
He certainly doesn't deserve it.
By
Anonymous, at 9:54 AM
Why should Lee get a severence!
Why should Lee get a pension!
He didn't earn it!
By
Anonymous, at 1:05 PM
Anonymous is correct. Lee resigned. Why should he be given a severence package? Oh, but wait...it gets better! Just before I left for work this morning, I heard on the news that the MLGW Board is now supposed to take under consideration "sweetening the package" and giving both Lee & Horton more than they are entitled to receive to keep them from suing the company. WHAT???? Sue the company for what? They are the ones who have been raping the company and the rate-payers of Memphis. Must we also thank them for it! I guess we will have to stay tuned to see what transpires with this latest news!
By
Anonymous, at 2:51 PM
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