November 29, 2013
I support Dodd-Frank rule 953(b).
Years ago when Chrysler bought Mercedes, they implemented American-style salaries for the Mercedes executives. Previously, the top people at Mercedes had been making between 20 and 25 times the wages of the lowest-paid worker. So if a guy sweeping up the factory floor made $20k a year, a typical exec made $400K. They felt that any more disparity was bad for the company financially, and bad for morale in the work-force. They balked at the sudden multi-million dollar raises being forced on them.
I agree with the Europeans. Such a disparity is bad for our country financially, and bad for the morale of our work force, of which I am one.
I know you're being besieged by lobbyists, but I urge you to stand firm and implement a strong rule that will uphold the intent of the Dodd-Frank law.
Thank you for considering my comment,
Julia BeckwithWinter Park, CO