Posted on 09/18/2013 6:37:33 PM PDT by markomalley
The Securities and Exchange Commission on Wednesday narrowly approved a plan that would require companies to disclose how much more their chief executives are paid than their other employees, advancing an initiative that has been years in the making.
The panel’s two Republican commissioners — Daniel Gallagher and Michael Piwowar — voted against the proposal, siding with business groups that cast the initiative as a costly burden that is of little use to shareholders. They said the proposal is an attempt to shame corporations into reining in executive pay by forcing companies to calculate compensation in a way that is designed to yield eye-popping results.
The three Democrats supported the proposal, including SEC Chairman Mary Jo White. They said it lifts some of the potential burdens cited by corporate lobbyists and fulfills the agency’s obligation to carry out a long-overdue mandate imposed by the 2010 Dodd-Frank financial overhaul measure.
(Excerpt) Read more at washingtonpost.com ...
I guess, maybe it isn't a total waste. The left-wing "equality" pressure groups that want this probably aren't smart enough do the math based on data that's already a matter of public record.
Which stock market abuses have the Feds cured in the last 50 years? It’s absurd.
I don’t feel sorry for the CEO. Under their leadership how many tech advantages did our nation lose when they decide to teach Asia how to do jobs blue collar Americans used to do. Any factories left Americans to work in anymore? Now these same CEO’s are teaching Asia how to do high tech jobs so they have low cost workers to fill American tech jobs? How long do you think college educated hitech American grads will not have jobs either like their blue collar dads before them. Oh before the door hits my butt, aren’t these the same men who lay off American workers are advocating more immigration and pathway for illegal immigrants??!!!! So what has been the result of these CEO’s economic policies. Overseas workers are trained and equipped with latest American knowledge so they can build things for American corporations at 1/10 the labor cost, and the manufactured item price does not drop in proportion. It drops a bit (3 steps foward to corporate profit but 1 step back in price for the consumer). How is the availability of high paying jobs for non CEO types? Aren’t you glad in the last 20 years their salaries are 350x bigger then yours and your salary barely kept up with inflation???!!!! Even worst they are the group of “Americans” that gladly give technology to the Red Chinese so they can access Chinese markets that end up upgrading the PLA. Loral missile guidance ring a bell free trade loving corporate worshipping freepers??!!! Last I look it was a CEO that sold it to China that is being used to target Chinese carrier killing missiles. More light is good on CEO’s and their shenanigans. Don’t give me this crap they are friends of conservatives. The last time I look many CEO types hated the Tea Party when it first hit the scene. We threatened their big gov corporate welfare.
My. Isn’t that a disjointed rant.
no pity whatsoever...
It’s disjointed but your rant is pretty spot on.
CEO’s pushed “free trade” without making sure it is equitible. They wanted Americans buying their goods produced for pennies on the final sale dollar, but wouldn’t hear of any problems when anything we produced couldn’t find a market in Asia, because the rules are set up against it.
The average CEO of these major companies isn’t some guy who made it to the top with a lot of hard work and a little bit of luck. He comes from the Ivy league schools. His father likely attended the same school. His family has wealth, and that is all they care about.
These same Ivy league graduates couldn’t see when their lunch was being eaten by their own suppliers, just that it was good for the company’s next quarter earning sheet to cut out American jobs.
Now, these CEOs want massive umlimited immigration, and they don’t care what effect it has on the middle class, so long as the next quarter looks good on the spreadsheet. They also want to train asians in high tech manufacturing processes. I guess they’ll tell us we need to train in nanotechnology next.
Big government, big business, and big labor are an unholy troika. They are all three disasters to a free people.
Does it detail all the crony contracts, pensions and lobbying gigs politicians and unions get related to Government?
Here is the thing.
I don’t care. Really don’t.
Keep it in the open. Light is a great disinfectant.
Here’s the thing: it’s already done (disclosing executive compensation). Item 11 in the company’s 10-K. It’s been that way as long as I can remember.
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