April 6, 2005
Securities and Exchange Commission
Dear Securities and Exchange Commission,
Too often executives are richly rewarded even when their companies' performance is below par. I urge the SEC to require companies to disclose both the performance criteria and the performance targets they use when setting executive pay. 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.
How much more work are the CEOs doing than their employees? If their work load is only 100 times that of their lowest paid employee, then their pay should not exceed 100 times that of their lowest paid employee. The excess should be invested in the company (paying more to current employees, hiring new employees, researching new products, etc.)
Mon Yee Mak