April 6, 2005
Securities and Exchange Commission
Dear Securities and Exchange Commission,
I am writing to urge the Securities and Exchange Commission to act on its proposed rule making on executive compensation disclosure.
In My Opinion:
Currently share holders do not get a good picture of Management compansation compared to shareholder return. An "Old Boy" network exists between Board of Directors and Management creating a "You scratch my back and I'll scratch yours" between corperations. This has allowed American corperate management to earn far higher saleries compared to their overseas counterparts.
Non management workers earnings are easily reported in measurable dollars however management can hide compensation to themselves through business decisions they make.
This needs to be corrected. I am not sure what can be done, but what we have is not working to the benifit of shareholders or the agregate USA population.