The politicians that fired Valley Metro CEO Stephen Banta are giving us the line of BS that they HAD to give him a $265,000 bonus when the fired him because that was in his contract.
These same politician won't tell us that THEY wrote the contract that says they have to give him a $265,000 bonus if he is fired.
Did I say fired??? Wait a minute. If you read the article they DIDN'T fire Stephen Banta for screwing the public and Valley Metro. They let Stephen Banta quit and gave him a $265,000 bonus for quitting.
Valley Metro CEO Stephen Banta to take $265,000 annuity when he leaves Jan. 4
Craig Harris, The Republic | azcentral.com 8:03 p.m. MST December 7, 2015
Valley Metro boards, at this time, are not requiring Stephen Banta to repay any potential misappropriation of funds. They also didn't OK a separation agreement that could avoid a lawsuit. [So if a min wage worker steals a few pencil they will demand he pay them for the theft, but when the CEO steals thousands of dollars they don't care?]
Valley Metro CEO Stephen Banta out Jan. 4, but with no separation agreement
Banta will take a $265,000 annuity that he received during his time at Valley Metro Valley Metro Chief Executive Stephen Banta is out of a job Jan. 4.
But Banta will take with him a $265,000 annuity that he received while running Maricopa County's bus and light-rail system since 2010, it was disclosed Monday at a special meeting.
Valley Metro's two boards, composed of elected officials, officially accepted his resignation on Monday. Banta has roughly 18 days of paid vacation time, putting his last day shortly after the new year begins. He is currently on administrative leave and is not allowed in the office. The combined boards' vote was 11 to 3, with Mesa and El Mirage not voting.
Banta abruptly resigned Nov. 24, amid an investigation by The Arizona Republic into his expense accounts while running Valley Metro. The newspaper found Banta had flown first class, stayed in a $600-a-night hotel room, bought alcohol and claimed to have expensive dinners with clients who told The Republic that they never attended.
The boards have not asked Banta to repay Valley Metro for any potential misappropriation of funds.
They also did not approve a separation agreement, a draft of which was sent to Banta last week. That deal, which Banta has agreed to, could have given the CEO more money in exchange for not suing the transit agency. The agreement has not been released to the public.
Board members on Monday expressed concern about approving a separation agreement after learning from The Republic that Banta and his wife, Ellen, took a total of 44 round-trip airline flights between Phoenix and Portland, where he kept a home, from February 2010 to July 2012 at a cost of at least $15,347.
Banta did not attend Monday's meeting.
"Mr. Banta is going to take some time to consider his options moving forward," said David Leibowitz, Banta's personal spokesman.
Leibowitz said Monday's decision was surprising because Banta thought a deal had been struck between him and the boards to settle the controversy.
Phoenix City Councilwoman Thelda Williams, who sits on both boards, said she is not worried about legal action by Banta. And she said she looks forward to seeing the outcomes of two new audits — called for by the city of Phoenix and the Valley Metro boards — to see if any other questionable spending occurred.
Heinfeld, Meech & Co. of Tucson has given Valley Metro clean audits since 2011, and the Valley Metro boards in April awarded the firm a $76,600 contract for another annual audit. A call to Heinfeld, Meech & Co. on Monday was not returned.
Williams and other board members expressed frustration that they have learned more about Banta's spending in The Republic, and she called for a raft of information from Valley Metro staff. The request includes a list of all personnel and their pay, staff members with Valley Metro credit cards, employees with the authority to approve expenditures and the current travel budget. [If Williams and other board members didn't know Banta was spending our tax dollars like a drunken sailor they were asleep at the wheel and not doing their job]
Williams also is proposing more oversight of Valley Metro from its 16 member cities and towns and structural changes, including the creation of a compliance officer who reports to the boards. Williams also wants the staff trained on policy, procedures and compliance.
Three board members who voted "no" indicated they were in favor of a separation agreement in order to avoid litigation.
Banta last week tried to rescind his resignation, saying he was forced into it after having a secret meeting with Phoenix Mayor Greg Stanton's policy chief of staff and the Phoenix City Manager's Office. Banta said he was offered a deal to stay on the payroll until April if he quit before a story came out in The Republic, but he changed his mind and wanted to keep his job.
Had the boards fired him, Banta would have been entitled to one year's pay. He makes nearly $265,000 annually. [So Banta was NOT fired and give a $265,000 bonus for quitting??? That's outrageous!!!]
Valley Metro's two boards didn't allow Banta to rescind his resignation. The boards last week appointed Eric Anderson, transportation director at the Maricopa Association of Governments, as acting Valley Metro chief executive.
Anderson will hire an independent auditor who will look at Valley Metro's books. The city of Phoenix is auditing Valley Metro's employees' expenses and reimbursements since Banta was hired in 2010.
On Friday, three Phoenix City Council members called on the state Attorney General's Office to begin a criminal investigation of Valley Metro.