November 29, 2013
I support Dodd-Frank rule 953(b), which will provide much-needed transparency into how and for whose benefit public companies are being run.
Disclosing corporate pay ratios between CEOs and average employees will finally show which corporations are driving this trend, which siphons money away from investors, and into the pockets of CEOs. In 1990, senior executive pay absorbed 5 percent of corporate profits. Today, according to Government Metrics International, it absorbs 10 percent.
American workers have not shared in their increased productivity over the last 30 years. Year after year, studies show working Americans earning less and less, even as CEO pay balloons and corporate profits soar.
Fairer pay structures mean stronger companies and a stronger economy – both of which are important to me as a consumer and as an investor. The most productive era of this country's history occurred when the pay ratios between CEOs and average workers was lowest.
Your mandate is to protect the American public, not the interests of CEO executives. 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,
Chris PattonHolliston, MA