From: Terry R. Kreuser |
Securities and Exchange Commission Dear Securities and Exchange Commission, I believe we, (working families) are being sold a bill of goods that just doesn't add up equitably when examined rationally. Corporate America always points to the bottom line and says "We Need To Do Better"; workers must work harder, longer and for less pay and benefits because that's what our competition is doing. Corporate America would have us all believe that the end result of a World Economy is better for all because it may eliminate starvation and war and world health problems. Standards of living would be improved in all nations. God! I wish it could be true or even possible! This could be true if there were not such a thing as Greed or Envy. We, living on or near the bottom of the economy can see the results of these sicknesses and it is all too evident who Typhoid Mary really is! They have sold this pipe dream to Republicans and Democrats alike. We might even have believed it if there wasn?t such a disparaging contrast to those touting the banner to those having it shoved down their throats! The gun wielding Somalian or Iraqi insurgent is no different in their desire for power, control and wealth than is the top 1% that believe ?THE WORLD ECONOMY WILL HAPPEN AND IT WILL BE BOURN ON THE BACKS OF THE WORKING CLASS!? But still this sounds better than ?THE GEARS OF CAPITALISM ARE GREASED WITH THE BLOOD OF THE WORKING CLASS! Before we buy this ?bill of goods? or swear our oath in belief of the ?bottom line? lets examine the lines reflecting the inequitable distributions of wealth AND suffering! The war on terrorism will never be won, just like the wars on poverty and drugs but we could very easily stop the attacks on the American Working Families! I am writing to urge the Securities and Exchange Commission to act on its proposed rule making on executive compensation disclosure. Too often executives are richly rewarded even when their companies' performance is below par. 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. I leave you with your conscience?do the right thing! Sincerely, Terry R. Kreuser |