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.
Members of my family have lost their busniness' income/retirements because of the crash that has almost destroyed the company they founded and worked so hard at for 30 years. It is the totally unprecedented unfairness of big business to take care of the few, rather than the people who make their companies successful. Shame on them. As the famous quote " Let them eat cake" attitude is prevelant now with the wealthy, let them remember what happened to the person who made that comment.
Thank you for considering my comment,
Bill and Mary Smullin