Why Isn't Pat Quinn Running for Gov?
- ComEd says it could go bankrupt if it isn't allowed to hike electric bills next year. But Lt. Gov. Pat Quinn, who is outing the salaries of ComEd's top executives, isn't so sure. The soaring rates that could sock homeowners and businesses alike on Jan. 1 have got nothing on the upper-echelon salaries of ComEd and its parent company, Exelon, says Quinn.
The maverick politician today plans to release records he obtained showing ComEd and Exelon's top five executives rake in almost $50 million in salaries, stock options and perks each year.
The utility, which hasn't increased electric rates in nine years, has maintained it could lose $1.4 billion if Illinois doesn't lift the electric rate freeze next year.
But since 1997, Quinn says, the company has seen a 320 percent increase in its profits.