Changes to Dodd-Frank Act on CEO compensation

[unhappycamper]

http://www.opednews.com/articles/Changes-to-Dodd-Frank-Act-by-Chey-Barnes-Business_Corporate_Greed_Greed-131108-36.html

Changes to Dodd-Frank Act on CEO compensation
General News 11/8/2013 at 10:43:31
By Chey Barnes

After years of delays, the SEC has just voted to enact a potentially game-changing provision of the Dodd-Frank Act on CEO compensation.

The new provision requires corporations to disclose the amount their CEOs make compared to the salary of the median worker. Corporations are shocked because the rule is surprisingly strong -- closing the loopholes that corporations normally use to skew data.

The U.S. Chamber of Commerce and other big business organizations are frightened, and are fighting back, pressuring the SEC to soften the provisions language during the current sixty-day comment period.

This data is valuable for investors, as it helps them determine which companies are dangerously overloaded at the top. The new disclosure will create downward pressure in the industry by rewarding companies with more reasonable salary hierarchies. It will also get workers talking, and put overpaid executives in the spotlight. This could be a game-changer for out-of-control inequality andhelp stop the wild greed at the top of the largest companies in the US.

[golfguru]

1. This is way overdue

I have nothing against CEO's making a bundle of money.
But there must be a limit on how much more the CEO can earn based on median salary
in the outfit. Profitability and success of any outfit is the result of efforts by all
in the corporation. CEO's must not be allowed to act as robbers of money rightfully
belonging to all employees. My limit would be 30 times median salary.