September 24, 2013
I’m writing in support of a strong Dodd-Frank rule 953(b).
Disclosing corporate pay ratios between CEOs and average employees will discourage the outrageous and reckless pay practices that fueled the 2008 crash.
Knowing which corporations heap riches upon their executives while squeezing struggling employees also will be a useful factor for me when considering which businesses to support with my consumer and investment dollars.
I am aware that you are under intense pressure by business interests to weaken or abandon the rule. Do not give in. Instead, weigh your duty to protect investors and the American public against the self-serving interests of those seeking to undermine this rule.
The math is NOT tough. You take the total of the employee salaries and benefits and divide by the number of employees to get the employee number. You take the total of the CEO salaries and benefits and divide by the number of CEOs (1) to get the CEO number. Send both of the numbers to the SEC. Even without the numbers being labeled, the SEC can figure out which is which.
Thank you for considering my comment,
Karl David Reinhardt
Webster Groves (Saint Louis), MO