LETTERS ALL EDITIONS

• Published in: Newsday
• Main Authors: Maria Anzalone. Lynbrook, Marion Grobe. Plandome Manor, Mary Schwabe. Huntington Station, Linda Delaney. Holbrook, Morton Rubin. Glen Cove, Dennelly Baldwin, Thomas E, Mary Ellen Fise. Russ Haven. Albany. Editor's Note: The writers are, respectively
• Format: Newspaper Article
• Language: English
• Published: Long Island, N.Y Newsday LLC 25.06.1998
• Edition: Combined editions

Regarding your editorial calling for William Catacosinos' resignation {"Power War," June 10}. As a Long Island resident and ratepayer as well as an employee of MarketSpan, I am well aware of the chairman's history with the former Long Island Lighting Co. Catacosinos draws an unfair parallel when comparing his compensation to that of executives in other industries. The key difference is competition. LILCO has never had any competition. In businesses that are driven by the market, the consumer has a choice and can turn to a competitor. Making a company profitable in a competitive climate is why executives receive large compensation packages. Just who was LILCO's competitor when the rates soared to the highest in the 48 states? When did the ratepayers have an alternative to LILCO? Catacosinos is the epitome of conflict of interests. There is no way this man can represent the best interests of MarketSpan employees, customers and stockholders while aggressively amassing his own personal fortune since the goals are in conflict. Catacosinos has outlived his usefulness and needs to move on for the sake of all concerned. It's about time the ratepayers came first - after all, it's our money. Marion Grobe. Plandome Manor