November 21, 2013
Dear Securities and Exchange Commission:
I am an investor in publicly traded companies through my retirement plan and personal savings.
I strongly support the SEC’s proposal requiring companies to disclose the CEO-to-median worker pay ratio, as required by the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Pay ratio disclosure will help investors evaluate CEO pay levels when voting on executive compensation matters. The ratio of the CEO-to-worker pay is a valuable metric for investors, because it places CEO pay levels into a broader perspective.
For example, investors may use pay ratios as a factor when casting say-on-pay votes. Pay ratio disclosure also will help investors better understand their company’s overall compensation for all employees.
High CEO-to-worker pay ratios can have a negative impact on employee morale and productivity. Disclosure of the pay ratios will help the capital markets better allocate capital to those companies that invest in their workforces.
PS: I love the idea, how does this put more money in the every day hard working American's pocket? How does this help those of us who show up to work every single day and give forth an honest days working effort yet we can not simply afford to pay our bills or eat three meals a day?
I rarely get to see family or attend family events because I work hours that make this too difficult. I spend more time with the people I work with, then I do my parents who raised me and will not be here to spend time with someday. However, that big corporate giant I work for will remain and continue to prosper while us front line workers get older and fade in to nonexistence only to be replaced by some other younger hard working American with dreams of a life of hard work, accomplishment, and happiness. All I ask for is to be able to afford my simple home and the bills that go with that home. Eat 3 meals a day. Have time to see the one's I dearly love before they are no longer here to see. Is this too much to ask?
I don't need to be rich. I don't play Golf. I don't need some high performance car. Simply, a reliable car to get me to the job I love doing. I don't require some huge mansion. I love the simple home I live in. Just wish I could afford to keep it.
I love the idea of the 1:12 pay ratio. Clearly, the money is there to redistribute so that everyone can be compensated to a level where we the front line workers would be able to afford to live without the stress of figuring out how I'm paying my electric bill or gas bill or wonder how I'm going to be able to eat tomorrow. 53 million in one year? Is that really necessary? Is that much money really required to survive and pay your bills and eat a warm meal?
We know you don't care. You don't want to hear our whining. If we don't like it we can try to go get another job that pays better. Perhaps, I should pick up a second job or third job. Perhaps us Hardworking Americans should stop simply accepting the way things are. Stop buying what these large corporations are selling.
I work for AT&T Mobility selling cell phones. I have been in the cellular industry for 13 years. In the past 6 years I have watched my income decrease year after year. Isn't it supposed to increase? Aren't I supposed to get a raise each year? Yet, in that same time I have watched my customers' bills increase dramatically. Some cell phone bills are more than their car payments. Some are close to what they may pay for rent. All so they can talk to their families, text their friends, keep up with work details, or call when they help. It's absurd and it has to stop. Everyday us sales people are told by management that we have to sell more more more. Even though I am doing well, I need to sell more. If I don't sell more I will be disciplined. Some have been told they can't leave work until they have sold more. Is this the world you want to live in? Where does it end? When is enough enough.
Gary LevinTuckerton, NJ