Con Ed Execs Return Bonus Loot After Pay Angers Cuomo

Law360, New York (April 30, 2013, 1:33 PM EDT) -- Four Consolidated Edison Co. of New York Inc. executives are returning bonuses totaling some $614,000, the utility said Tuesday, after Gov. Andrew Cuomo demanded a probe into whether those costs would be passed on to ratepayers, who many say suffered at the hands of Con Ed after Superstorm Sandy.

Con Ed, New York's largest shareholder-owned utility, announced the payments in an early April report to investors.

CEO Kevin Burke was awarded a $315,000 bonus on top of his $1.2 million salary; CFO Robert Hoglund was given...
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