Yes, he doesn't normally leave a position of the forum unappointed when there's a need and someone who can fill the slot.
Potentially produce some sort of shortlist on a thread fore each section that is without a moderator. The shortlist should be Sr members plus at least (theymos isn't going to trust someone who has only been here a few weeks to run a board of the forum - with a higher ranked account there's more for the user to lose).
Although, theymos has made users that have been lower ranked than Sr Member. I believe rickbig was one of these members. Of course, I would agree that higher ranked members have less of a risk associated with them, but certainly not in all cases.
Perhaps the OP doesn't know that mods aren't appointed for fun.
They are placed on salary.
Not sure those local boards he mentioned are worth spending salaries on

The "Salaries" that you speak of are a percentage from ad revenue based on an unknown algorithm made by theymos which probably takes into account how much a staff member has done for that period. It wouldn't cost theymos anymore, however it would reduce the earnings of the current moderators.