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KXO News Local News IID - Board considering discipline for Hedging abusers
KXO News Local News IID - Board considering discipline for Hedging abusers Todays is : Friday, 09 January 2009
| IID - Board considering discipline for Hedging abusers |
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| Written by George Gale | |
| Friday, 13 July 2007 | |
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(Those involved in failed Hedging Strategy should be disciplined)….Imperial Irrigation District board President Stella Mendoza said Friday that her Board had met at least twice in closed session since the report on the failed Hedging Strategy was released Tuesday. Mendoza said it is the consensus of the Board that disciplinary action be taken against all involved in the trading strategy for natural gas. She said the consensus is discipline should be handed down to all those involved, from the top down. Mendoza said what form of discipline still must be determined. She said the Board is consulting with the District’s Human Resources Department to determine the type of discipline the Board can hand down. The Board President said the actions could be in the form of demotions, administrative leave, and even firings. Mendoza said the only employee the Board has the power to fire, however, is the General Manager Charles Hosken. She did not say that would be the action taken against Hosken, but she did say he was in line for some type of disciplinary action. Mendoza said she did not feel it would be too far out of line to even discipline herself and Director John Pierre Menvielle, who were on the Board when the failed Hedging practices were recorded. Mendoza also said, however, the Board members can only react to the information they are provided. Mendoza said it is important to restore accountability. She said Board members are usually held accountable at election time. |
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