A few examples of annual pay:
Johnson & Johnson $29.1 million
Abbott Laboratories $28.3 million
Merck $25.1 million
Wyeth $24.2 million
NiSource $2.5 million
According to The New York Times, the 2003 Medicare Part D drug law has proven to be “a financial windfall larger than even the most optimistic Wall Street analysts have predicted.” The law prohibits Medicare from negotiating volume discounts with drug manufacturers, and as a result retirees in the now-privatized Part D plans pay 58% more than under plans administered by the Department of Veterans Affairs which is allowed to negotiate price discounts. NIPSCO retirees fall into this category.
Greedy CEO’s are ruining our country. Would NIPSCO see their way clear to increase the pensions of their retirees even the slightest? Hell no! Why? Because the genius bosses in charge of NiSource and NIPSCO under funded the pension plan. They’re the ones who have NIPSCO and NiSource reeling after their bad decisions. Well then, what about a small bonus to help retirees on Medicare pay for their lousy Medicare Part D (prescription drug plan)? Hell no! Why? Because their retirees “can’t help us out of this deep hole we’ve gotten ourselves in”.
A little $300 bonus paid to each of NIPSCO’s 2,150 retirees would amount to $645,000. That’s just about half of what this Skaggs fella took in as his increase in compensation. That’s right, 102% increase in his compensation. Over $2.5 million. But hey, I think he should have got 112% increase like his NiSource buddy board of directors.
And now……we can all look forward to their 15% increase in electric rates!
I’m not going to bother looking up the compensation of the cheapskate feather-their-own- nesters who run NIPSCO. No need. I have their quotes and know the value they place on the people who made that company. They're the ones who can't pay death benefits in a timely manner. They're the ones who speak with forked tongue. They're the ones who cheat their retirees.
I have no good words for the NIPSCO or NiSource........ Well, maybe one.
Pitiful
