October 12, 2013
I support Dodd-Frank rule 953(b), which strikes me as being all about the intersection of pay equity and investor value.
American workers are more productive than ever, but, year after year, studies show working Americans earning less and less, even as CEO pay balloons and corporate profits soar.
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.
Fairer pay structures mean stronger companies and a stronger economy – both of which are important to me as a consumer and as an investor.
No doubt there are a select few who benefit from the status quo of keeping the pay disparities undisclosed. Stand firm, and implement the law as written.
As consumers, we have a right to know which companies are refusing to share their profits with their employees, and keeping them for their upper management bonuses. Then we can make informs decisions as to how and with whom we wish to spend our money.
Giving everyone their fair piece of the pie assures us that families of workers will be able to afford to give their families the things that are essential to life--shelter, food, clothing, and medical care. These are things that provide people with "freedom from want," which is something President Roosevelt spoke so eloquently about.
This country was founded to give EVERYONE a fair chance at making a good living--not just a few.
Thank you for considering my comment,
Leslie Bulkley Rayford