Utility owners get revenge, fire greedy board

Jerry Bellune
Posted 8/23/18

The improbable became the possible last weekend.

More than 1,500 Tri-County Electric owners in Lexington and 5 other counties voted 1,452-30 to fire their board and 1,322-155 to limit …

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Utility owners get revenge, fire greedy board

Posted

The improbable became the possible last weekend.

More than 1,500 Tri-County Electric owners in Lexington and 5 other counties voted 1,452-30 to fire their board and 1,322-155 to limit trustees’ pay.

“Unbelievable,” Tri-County general counsel John Felder told the crowd.

Many had thought not enough members would show up or take action Saturday.

They planned to fire their part-time board that had paid itself more than 3 times the national average, including health insurance plans and expensive perks, The State newspaper reported.

None defended the board but Tri-County members condemned the six remaining trustees who were not there for betraying their trust and paying themselves lavishly.

State Rep. Russell Ott told the crowd, “We’re not going to stand for it anymore. We work too hard for our money to have it go and enrich other people.”

The State had revealed that Tri-County’s part-time board had paid itself about $52,000 a member, the highest of any co-op board in the state, and successfully campaigned against a proposal to limit its pay.

Board members are paid to control costs for their rural owner customers.

For years, they raised their own pay with health and life insurance, $450-a-day for attending meetings, held expensive dinners, paid themselves $300 Christmas bonuses and created retirement plans that paid out $81,000 to each member.

Board members refused repeated calls to resign.

Tri-County’s members gathered 1,600 signatures to force Saturday’s vote.

The vote was praised as proof that the co-op model of ownership by customers works and can end wrongdoing when necessary.

Board attorneys have hinted they may challenge Saturday’s vote as it was called without their consent.

But CEO Chad Lowder and general counsel John Felder say customer-called meetings are legal.

The board called a secret meeting Friday to fire Lowder, but more than 200 Tri-County owners and employees intervened and a judge issued a temporary restraining order.

“What I’ve seen today are two fundamental, unique American institutions work very, very well,” said Mike Couick, CEO of the Electric Cooperatives of SC

“One is a free media and one is a working ballot box.”

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