Thursday, July 28, 2005

The Odds Always Favor the House

It is gambling so we shouldn't be surprised when the House gets to keep most of the money. This morning it's Lottery CEO Rebecca Paul and not Tennessee students that stand to get a huge chunk of change. No nickel slots for her.

The new pay plan covers the fiscal year that started July 1. Paul will have a chance to earn a 65% bonus, meaning she could raise her pay from a $364,000 base salary to just over $600,000 if the lottery's net proceeds increase by 8%. Net proceeds are transferred to the state to pay for scholarships.


Meanwhile, the lottery's executive vice presidents can earn as much as 30% of their base pay if the lottery meets its scholarship fund-raising goals. Vice presidents can earn up to 15% bonuses, and most other eligible employees can earn 5% to 10% of their salaries. Members of the lottery's sales staff are paid commissions instead of bonuses.
From the Tennessean.

Maybe if we gave these sorts of incentive bonuses to excellent teachers we'd have even more students actually graduating with solid skills AND attending colleges via scholarships earned the old fashioned way.

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