Tag Archives: operating

Haslam Hires IBM Ex as ‘Chief Operating Officer’

As part of a realignment of his top staff, Gov. Bill Haslam named a former IBM executive as “chief operating officer” for state government Tuesday and tasked him with increasing oversight of various departments in state government.
Greg Adams, 58, has spent 37 years with IBM, most recently as a managing director in its financial service factor. His state salary will be $165,000 per year and begin serving July 8, according to a gubernatorial spokesman.
The move comes after Claude Ramsey, deputy to the governor, announced earlier his retirement effective Aug. 31, and Mark Cate was elevated from senior adviser to chief of staff. Ramsey’s salary is $187,452 per year; Cate’s $155,000.
The governor said Adams is “not a replacement” for Ramsey because “he’s going to do a very different job, but that there are “no plans right now” to name a new deputy.
“Now that I’ve been governor for two and a half years, I realize one of the things that is hardest about being governor for me is that I can’t spend the time I would like with each department.”

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UT Athletic Department Posts $4M Deficit

KNOXVILLE, Tenn. (AP) — Tennessee’s athletic department posted a $3.98 million deficit for the2011-12 fiscal year that forced it to use a substantial portion of its financial reserves, department officials acknowledged Monday.
Although the athletic department made $106.5 million in revenues, it had $110.5 million in expenses. Those expenses included hefty buyouts to former athletic director Mike Hamilton, football coach Phillip Fulmer, men’s basketball coach Bruce Pearl and baseball coach Todd Raleigh. When Hamilton resigned in June 2011, he received a $1.3 million buyout over three years. Fulmer received a buyout of $6 million over four years after getting fired in 2008.
Tennessee also has more than $200 million in outstanding debt related to the construction and renovation of various athletic facilities on campus.
The deficit, first reported Monday by The Sports Animal radio station in Knoxville, caused the athletic department’s reserves to dip to slightly below $2 million.

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