October 12, 2013
I support Dodd-Frank rule 953(b). Although I am retired and live partially on investments, it is clear that the disparity between CEOs and their employees is bad for both workers and investors. I and millions of others suffered during the 2008 crash. It had a sudden and painful effect on my net worth. However, the trend toward exorbitant salaries and bonuses is far more insidious and over time will be much more damaging to American workers and investors like me.
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. Corporate management will lobby you strongly against disclosure, as the select few benefit hugely at our expense.
Stand firm, and implement the law as written.
Thank you for considering my comment,
Erin Bulman
Portland, OR