From: Amy Parker
Securities and Exchange Commission
Dear Securities and Exchange Commission,
You have no idea how hard it is for me to pay my bills with the concessions required by my company, Northwest Airlines, to stay in business.
But yet the CEO still makes excessive amounts of money even in light of the flailing airline business. There is no required performance by the CEO to justify his compensation. While it is less than some companies, it is still outrageous and the VERY LEAST that needs done is FULL DISCLOSURE by the Securities and Exchange Commission. I support new rules to force companies to describe to the true owners of their public-owned businesses just what outrageous compensation is being given to these mighty CEO's. Maybe investors will start thinking twice about their stock returns in relation to the company's CEO compensation if this country starts making information better available to all.
It is really really time to put some kind of pressure on corporate America's absolutely disgusting CEO lavishness.
Without better disclosure, shareholders, employees and the general public cannot evaluate whether executive pay packages are unjustly enriching executives at shareholder cost or providing fair compensation.
The newly proposed rules will make this crucial information more accessible to shareholders and the public. The new requirements to disclose total compensation figures, pensions and detailed compensation breakdowns will make it clear exactly how much top executives are earning and why.
I believe that CEO pay should be set by independent directors.
I also urge the SEC to require that companies disclose pay-for-performance data. In order for investors to understand how pay and performance match up, companies need to explain more clearly what level of performance is necessary for a particular level of pay. I urge the SEC to require companies to disclose both the performance criteria and the performance targets they use when setting executive pay.
Thank you for the opportunity to comment.