October 12, 2013
Please implement Dodd-Frank rule 953(b) that requires corporations disclose pay disparities between CEOs and the corporations average workers. Please do not water down this requirement because of corporate objections. There should be a way to make the math consistent and easy to understand. Even if it is not perfect it will be better than no comparison.
Corporations need to pay workers enough to purchase goods and services in the economy. This is the only way the nation will recover. Fairer pay structures mean stronger companies and a stronger economy – both of which are important to me as a consumer and as an investor. I make every effort to invest in companies that behave in an ethical and responsible manner. To be successful in this goal requires information and this will be a very helpful piece of information to have. 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.
Thank you for considering my comment,
Sally Drew
Madison, WI