PNM salary egregious

THE IRONY IS rich in PNM’s executive compensation disclosure. The level of income disparity between the average New Mexican and PNM executives could not be more demonstrative. Is New Mexico’s (Public Regulation Commission) paying attention to this egregious display of overcompensation? In a state where median income is near $46K, the company’s CEO may earn short of 100 times the income. Dissect the public relations statement and one comes to understand how the executive compensation is calculated. Shareholders pay for the all the incentive pay and we the ratepayers should find solace in the fact that it is “at risk” dependent upon performance metrics.

Consider that (Pat) Vincent-Collawn is not a permanent resident of N.M. and that the ownership of PNM is headquartered in Texas. Who is beholden to whom?

If customer satisfaction is truly the number one goal, PNM’s public relations has sorely misread its customers. The rest of the country may have lifted itself out of the Great Recession, however N.M. has not. I recall in 2016 PNM running television ads with the CEO touting the company’s altruistic values with regard to the Four Corners coal burning plant. Vincent-Collawn came off as patronizing as the company asked for compensation for its efforts. That commercial did not run long, and this relationship between New Mexicans and PNM is reminiscent of carpetbagging.

RICHARD GARCIA Albuquerque