After pay cut, Dominion CEO's salary worth $14.3M

does not operate this way. I am not sure he is aware of how to build a base that will endure and be loyal in times of high fuel prices as well as low. And I am saddened to see the lack of concern for the customers of Dominion Power. Their proxy btw was very misleading. It highlighted in red...THE BOARD RECOMMENDS YOU VOTE THIS WAY...and then is small letters...the shareholders object...Tactics like this make my heart sad..and wish the Mr. Capps were back in the driver's seat. I hope that the SCC does not pass this rate hike. You can contact them online and leave a comment for the case...the case number is pue2009-0019. It will be heard later this fall I guess.

How out of touch Mr. Farrell et al is with the basic Virginian. Unlike his predecessor Mr. Capps I believe, Mr. Farrell doesn't seem to care at all about the efforts to include all Virginians in the exciting growth of Dominion Resources. When first begun, years ago, it was offered to all Virginians, the ability to participate and share in the profits of Dominion Resources. Such excitement. And with Mr. Capps at the helm, D. Resources was navigated with expertise and always a concern for the basic working Virginian. Now, the prices have doubled to invest online, the rates have gone up..which I could take last year since I saw prices of oil increased, but now...to fund these 'projects' at our expense during a time of economic hardship...well it is like with Mr. Farrell at the helm, Dom. Res. has lost its stewardship of people's money and basic values. It is like some graduates from business school want to exercise their ideas at our expense and reward themselves for it. To vote themselves a bonus and pay increase and then pass off a rate hike to us is poor business. Mr. Capps cared about making it possible for all Virginias to profit and invest in Dominion Res. Mr. Farrell apparentl

demonstrates a basic misunderstanding of the whole problem. The athlete does not have a fiduciary duty to the team. He is merely expected to play.

First of all, I also disagree with the salaries of athletes, however, paying them what they earn is the choice of the majority of Americans, who worship them. I am not one of them. Power in my home, on the other hand, is not an option. The problem with this man's salary is that people all over the area are going hungry and even going without power at all because the bills have skyrocketed, and now Dominion wants even more, while this demon collects more than everyone we know combined. It needs to be stopped.

think about it a ceo of a successfull, well run company whick took him years to get to the topg gets 14 million a year. Poor little A Roid plays 160 games and practices makes only 33 million and poor Manny retard makes 23 million. Guess what we all pay in Virginia both of their salaries it is embedded in every thing we buy ( sponsership and cable tv) just like the power bill is over head to companies. They are half the ceos age. They have no real responsibilities except to wack and catch a ball and be jerks in public. No need for any higher education and get paid will or lose and have the fall and winter off. The average ball player made 3.2 million and that is just baseball! see todays paper.

How is the poor fellow every going to make ends meet with that drastic pay cut. I feel so sorry for him. It's almost as bad as being laid off. Of course, with the latest rate increase he should recoup all that lost income.Double his salary in three years? My Don Res stock has risen and in fact has lost value. Poor man. Wonder if he needs to borrow a dime?

this guys $14 million plus salary and pay for full page ads in the VP, then I think they can afford to absorb any rate increases. I guess he can afford the rate increase - we are paying for HIS electricity and ours.

is that the incestuous nature of boards created the market. The pay scale keeps getting ratched up in part by boards/compensation committees who do not want to deny a raise in fears that when their salary comes into question, they would not receive their raises. Think about this: 12 years ago, the average CEO pay was 82 times the average blue collar salary. Today that ratio is over 400 times the average blue collar salary. This is not a 'free market' this is an inflated market. Those who argue that the salaries are the result of the free market are sticking their heads in the sand.

LOL, you got to be kidding me! How about if all of us hardworking once middle class people paid less to feed the salaries of these overpaid paper pushers we would have more to spend in our community employing our neighbors. Trickle down economics!

is that he doesn't really DO anything to warrant that kind of salary. Not to say that he shouldn't be paid a lot - he should be, he's a CEO of a large company - but his company is not a capitalist venture; it's a monopoly. It's not like a Cox/Verizon situation where customers have a choice, causing smart business to be played. It's simple really: if you want power you have to use his company. The more people move into an area, the more business he gets. (It is the same thing as with VA Natural Gas, although not everyone needs this product unlike electricity.) Therefore, unless he is working with city and state governments to physically increase the populations of his service area, then I do not see why he is paid such a ridiculous amount of money. Why not shave off $14 Million of it and not raise our rates? He can certainly live well on $300k per year.

Usually one needs to take big risk in order to receive big compensation. I do not see many risks in his position. He will make big bucks in any scenario.

So, he was just sitting around the house, playing it safe, and watching TV. Suddenly someone burst through the door and asked if he wanted to be an executive!

People need to work the way up. There is plenty of opportunities if one decides to play shamelessly and gamble like Wall Street did.

Classic populist rhetoric...people more successful than me are not smarter or more motivated...they cheated. It's the adult version of a kid throwing the checker board when they get beat.

That kind of salary is excessive....I dont care what you do. And to ask for a rate increase from ordinary hard working families who are struggling, this is what we the ordinary people are going to have to speak up against. The 50 executives under him are also making bank. It has to get back under control soon or there will not be a middle class.

It amazes me that so many middle class hard working people would be supporting the continued graft and corruption of corporate America. It is as if the 'Old South' has never died. I think so many southerners are tied to the legacy of the Slave Master who worked for the Plantation Owners. They saw the Plantation owners as God like creatures who provided for everyone's well being, the slaves as the creatures who were not entitled to anything but earning a day's subsistence for a day's work. And the Slave Master just oversaw the process as the managers of the system. Today, they still see themselves as the Slave Master and the corporate bosses as the Plantation Owner. And the worker's are not entitled to anything but a day's subsistence for a day's work. This seems to be a theme throughout the south and the New Republican Party/Old DixieCrats.

Usually one needs to take big risk in order to receive big compensation. I do not see many risks in his position. He will make big bucks in any scenario.

I have a friend who works for Dominion Power and he was telling me how much he and many others received for bonuses. I think the smallest was $5,000. This is in addition to his regular salary. Before Dominion gets a rate increase their puppets in Richmond ought to look at what the pay is for the rest of the company. Then they need to explain to us voters how they can justify raising the rates.

Down with evil scum bourgeois! Those slimes make too much! Workers unite! Oh wait now I sound like socialist Russia. Maybe USSR wasn't so wrong, maybe populist revolt is our future, and class warfare will help get us there. Down with evil scum bourgeois!

That photo that the Virginian Pilot chose is certainly the "smuggest" they could find. I think people forget that most people, even the very rich, spend a great deal of their paycheck. This CEO probably owns several houses, has memberships in country clubs, buys NEW cars every year, has a maids, gardener, etc. So, for him, and the AIG execs, to give up some of their salary based on the anger of the public is not a small matter. If his salary got cut he may have to dump one more house into the struggling housing market, stop buying cars from the struggling car companies, lay off hard working laborers, etc. There's a word for it- trickle down economics- and it's true.

Leave Obama out of this. Both presidential candidates are always puppets. The bankers run things, the presidential election is just to make the sheep *think* they are making some sort of change. As you witnessed, the people responsible for the economic problems today have gone unpunished. It's a joke. And it's not what you know, it's who you know.

Watch this:
http://www.pbs.org/moyers/journal/04032009/watch.html

To read comments that defend the annual compensation of $14.3M for Thomas F. Farrell II, chairman and CEO of Dominion Resources Inc, tells me that we have learned noting in the past year of this economic crisis. In most corporations the CEO appoints the board of directors who in turn approve the CEO's compensation. Do you see anything wrong with this picture? Yes, I suppose that Mr Farrell II is intelligent. The day to day work of his organization is run by his subordinates, no exceptional talent required here. Yes, he has to make strategic decisions for his corporation. When they work out well, he will reap a dramatic reward in his compensation, when they turn out spectacularly bad, Uncle Sam (meaning you)is ready to staunch the losses with a corporate handout. In this case he has to be richly rewarded to steer the company through difficult times. Sounds a lot like the heads I win, tails you loose argument. Is performance (or lack thereof) really the result of brilliant management or is it following the trend of the performance of the economy as a whole? As recent events show, executives that do spectacularly well in good times are those who bend/break the rules. When bad