After the South Carolina's ailing State Ports Authority announced $750,000 in bonuses almost everyone balked, and now The Post and Courier has a final word via an editorial titled "Embarrassing SPA bonuses."
Read more stories on this subject in our port topic page.In part:
The SPA doesn't derive its operating funds from the taxpayers but relies on its own profit-making ability to carry out the state's essential port business. In that context, incentives make business sense.
But those who work for the quasi-state agency are public employees. It's hard to defend their fat bonuses in these belt-tightening times.
If nothing else, criticism about the bonuses should provide an added incentive to the SPA to intensify efforts to keep Maersk in Charleston. That may be the only way, at this point, for SPA executives to convince the public that their big bonuses were really warranted.
In my opinion, it's a pretty good conclusion.
I should add, it's a final word for now. You can expect state Senator Glenn McConnell to carry this torch for a while.