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Friday, March 29 2024 @ 09:07 AM CDT

GOP Shyster George Allen Coverup

Conspiracies

Patrick Sloyan Wants to Know – Why Did Dominion Resources Put George Allen’s Wife On Its Board?
Why did Dominion Resources – one of the nation’s largest electric power and natural gas companies – put Virginia Senator George Allen’s wife – Susan Allen – on its board of directors?

Patrick Sloyan, the Pulitzer Prize winning former reporter for Newsday, wants to know.

Sloyan now lives in northern Virginia and has taken the lead in a fight against a giant 230 kilovolt power transmission line proposed by the Richmond-based Dominion.

The line would cut a 12-mile swath through western Loudoun County – the site of the revolt against the proposed Disney theme park a few years go – and Sloyan says it would permanently scar a beautiful stretch of rural northern Virginia and pose a public health risk to local residents.

Sloyan is chairman of the Western Loudoun Stakeholders, a group of municipalities, counties and activists who want Dominion to bury the line underground.

The proposed line is now before a hearing examiner of the Virginia Corporation Commission.

Hearings have been held and a hearing examiner will decide next month where the line will run – and whether it will run overground or underground.

But in the heat of an election campaign, Sloyan wants to know – why did Dominion put the former Governor’s wife on its board.

The “appearance of it all reeks of a payoff to Senator Allen,” he says.

According to Dominion spokesman Mark Lazenby, Susan Allen was on its board from April 25, 2003 to January 4, 2005.

She left the board in 2005 when Senator Allen was appointed to the Senate Energy and Natural Resources Committee.

“The board was looking for a candidate who was independent of management, and who had a first hand knowledge of Virginia stakeholders,” Lazenby said. “The Board was aware that Mrs. Allen in her role as former first Lady got to know a large number of our customers. The board thought she would be an effective advocate for customers.”

And how much was she compensated?

Lazenby will only talk generally on this point.

He says that when Susan Allen was on the board, non-employee directors were paid an annual retainer of $40,000 of which $20,000 was in cash and $20,000 was in shares of Dominion Resources.”

And she was paid $1,500 for each board and committee meeting.

She was on the board for less than two years, so that would mean something less than $80,000 in compensation, right?

But Lazenby says he doesn’t know how much Susan Allen was in fact compensated.

And all of a sudden, having been cordial and free with his time up until this point, Lazenby runs out of time – or as he puts it in a terse e-mail – “can't guarantee any additional info today due to work demands and schedules.”

Sloyan points to a 2004 proxy statement filed by Dominion indicating that Allen had accumulated 6,434 shares of Dominion stock – although a footnote adds that “because of this plan’s vesting provisions, these amounts will not necessarily be distributed to a director.”



Dominion stock is currently hovering around $80 a share, but was closer to $67 a share when Susan Allen left the board in early 2005.

(Dominion's Lazenby calls back after this story first appeared and says that Allen forfeited those more than 6,000 shares when she resigned. He still won't disclose what her total compensation was, though.)

The Washington Post reported earlier this year that financial statements released by Senator Allen indicate that Susan Allen holds shares in Dominion worth between $100,000 and $250,000.

Sloyan says the whole thing is “fishy.”

Was her compensation $40,000 a year, as implied by Lazenby?

Or was it a whole lot more?

Dominion won’t say.

Let’s wait until after election day.

http://www.corporatecrimereporter.com


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