September 25, 2013
I’m writing in support of a strong Dodd-Frank rule 953(b).
Disclosing corporate pay ratios between CEOs and average employees will discourage the outrageous and reckless pay practices that fueled the 2008 crash.
Knowing which corporations heap riches upon their executives while squeezing struggling employees also will be a useful factor for me when considering which businesses to support with my consumer and investment dollars. In my considered opinion, no individual is so important to a business to justify the magnitude of rewards given corporate executives which, too often, are not even related to the LONG-TERM success of the company.
I am aware that you are under intense pressure by business interests to weaken or abandon the rule. Do not give in. Instead, weigh your duty to protect investors and the American public against the self-serving interests of those seeking to undermine this rule. Individual greed knows no bounds! The corporate justification for eliminating this rule, i.e., their inability to do the arithmetic, is disingenuous.
Robert C HuberWinston-Salem, NC