November 29, 2013
NO ONE does it all alone.
and
NO ONE IS WORTH MILLIONS (or more!)
How absurd.
I support Dodd-Frank rule 953(b), which addresses the intersection of pay equity and investor value.
Year after year, studies show average working Americans earning less and less, while corporations and their CEOs & shareholders 'win the lottery'. With OUR money.
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.
-->Then it must be addressed effectively.
In 1990, senior executive pay absorbed 5 percent of corporate profits. Today, according to Government Metrics International, it absorbs sometimes as much as 40%!!!
-->This is GREED, pure & simple.
Fairer pay structures mean stronger companies and a stronger economy – which are both important to me as a consumer and as an investor.
There is no doubt some benefit from the status quo of keeping the pay disparities undisclosed. No doubt there are a select few who benefit from this status quo of keeping the pay disparities undisclosed.
But your JOB is to protect the American public,
NOT the interests of the corporations, their CEOs & shareholders.
YOU must stand firm and implement a strong rule that will uphold the full intent of the Dodd-Frank law.
Sincerely,
LK WOODRUFF
ROSEMOUNT, MN