April 6, 2005
Securities and Exchange Commission
Dear Securities and Exchange Commission,
Please act on the proposed rule to make executive's fully disclose their compensation. It is evident that executives today are richly rewarded even when their companies' performance is below par, this is destroying our country economically. WE the public require better disclosure, as do shareholders, and employees in order to evaluate whether executive pay packages are unjustly enriching executives at shareholder cost or providing fair compensation. We need a change in this reporting process. Please give us the tools that we require so that companies and their executives will report compensation packages (including pensions)and their components accurately.
It is my belief that CEO pay should be set by independent directors. Conflicts in interests should be disclosed as well.
Please require companies to disclose pay-for-performance data. An investor needs 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, I firmly believe that our country's economic future is in your hands,