Results 1 to 2 of 2

Thread: 5 Puerto Rico Utility Board Members Resign

  1. #1

    5 Puerto Rico Utility Board Members Resign

    Five of the seven members of the Puerto Rico utility board resigned yesterday amid a huge restructuring following the severe damage the country suffered from Hurricane Maria, Reuters reports, adding that the members who handed in their resignations also included the authority’s chief executive, who hadn’t even officially taken office yet.
    The resignations come in response to the Puerto Rico governor’s hostile reaction to the CEO’s proposed compensation package. The utility board agreed to pay Rafael Diaz-Granados US$750,000 annually, which sparked the anger of Governor Ricardo Rosello, who told the board to either lower the sum or resign.
    For context, the US$750,000 package compares with a base salary of US$450,000, which was what the previous utility board CEO, Walter Higgins, would have received (aside from bonuses) if he had stayed at the helm for a year. Instead, he resigned after just four months on the job.

    The PREPA members who handed in their resignations cited as reason the fact they did not believe they could count on support for some “politically unpopular” measures that needed to be taken as part of the restructuring process.
    “It will be difficult to carry that company without a strong board and strong CEO - to effectively run that company separate from government influence - that is the main factor in trying to transform PREPA,” the chairman of the authority told Reuters, adding that now the governor will be able to appoint members who will be “more in tone with his agenda.”

    More at:
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  2. Remove this section of ads by registering.
  3. #2
    Sh!t-hole status, but it’s not exclusive to PR.

Similar Threads

  1. Puerto Rico & U.S. Statehood
    By pcgame in forum U.S. Political News
    Replies: 0
    Last Post: 06-20-2017, 01:09 PM
  2. What is there to do in Puerto Rico?
    By eduardo89 in forum Open Discussion
    Replies: 20
    Last Post: 01-19-2014, 12:22 AM
  3. We Can Win Puerto Rico 23 Delegates!
    By samsung1 in forum Ron Paul Forum
    Replies: 188
    Last Post: 03-02-2012, 11:15 AM
  4. We needyour help Puerto Rico!
    By phoenixrising in forum Puerto Rico
    Replies: 0
    Last Post: 07-19-2008, 09:37 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts