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'Power' of the Purse

New York Post

Six of NYISO's nine board members make more than $100,000 a year -- for just 14 hours of work a week, the tax filings say.

"It's a scandal," said Richard Brodsky, a former state assemblyman who has long railed against NYISO. "The salaries are excessive. It's the directors' compensation that makes you nuts."

At least 20 of NYISO's 500 employees were paid more than $200,000 in 2009, up from 16 in 2007, the IRS filings show. The head secretary to the company and board, Diane Egan, got $221,000.

For years, NYISO has sponsored quarterly meetings for utility executives at golf courses, complete with lobster and steak lunches. It has also held boozy Christmas parties with live music and food galore in Saratoga Springs, a former employee said.

An efficiency expert said he quit in disgust over NYISO's wasteful ways.

"They were spending money like water," he said. "It was the most poorly run organization that I've ever worked for . . . Executives were basically stealing the company blind."