October 12, 2013
I support Dodd-Frank rule 953(b), to provide more transparency in corporate business practices. People should have assurances that when a company succeeds, everyone who got it there, from the janitors to the executives, benefits. Right now, there is a giant echo chamber where executives pat themselves on the back for the most meager gains, and then inform the workforce that due to the meager gains, sacrifices must be made.
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.
Thank you for considering my comment,
Claire Gilder
Austin, TX