April 6, 2005
Securities and Exchange Commission
Dear Securities and Exchange Commission,
I am really tired of executives being rewarded exhorbitant sums of money regardless of their companies' performance. To me it's just another example of the rich helping the rich get richer at the expense of the working poor.
Certain information must be way more accessible, like total compensation figures, pensions and detailed compensation breakdowns. This will make it clear exactly how much executives are earning and why.
All companies must be required to make known how pay and performance match up, what level of performance is necessary for a particular level of pay in addition to the performance criteria and the performance targets used to set executive pay. This method should be used as criteria for all employees to be fair. Even more fair (and ethical) would be to have CEO compensation set by working class people who have no conflict of interest. That would no doubt save us all millions.