November 8, 2013
Nov 8, 2013
Securities Exchange Commission
The middle class is the largest class in this country. In 2008, when we lost our jobs (both my husband and I did) There was no bail out for us, yet we (as Americans) bailed out banks, we stayed the course with our investments, not pulling out, as we were told to do. The middle class is struggling to get by, as is evidenced by the struggles of stores like JC Penney to turn a profit. Yet stores like Luis Vitton on 5th Avenue cannot keep fully stocked. The middle class does play a major role in driving this country's economy and we are angry. Pay cuts and increased expenses are killing us and our ability to provide for our children. It is time to for a change and this is one small step. Do the right thing.
As an investor, I am writing to express my support for the SEC's proposal requiring disclosure of the CEO-to-worker pay ratio, as required by the Dodd-Frank Wall Street Reform and Consumer Protection Act.
A pay ratio disclosure will help investors better evaluate CEO pay levels when voting on executive compensation matters. Compensation experts have found that there is a correlation between high CEO pay and poor performance. By mandating disclosure of the ration of CEO to worker pay, inequities will be become more transparent.
I believe that being able to compare similarly situated corporations CEO pay packages to each other may help ratchet down the high CEO-to-worker pay ratio.
Ann HansberryFramingham, MA