CEO pay revealed

---------- Forwarded message ----------
From: "Claiborne D., SumOfUs.org" <us@sumofus.org>
Date: Nov 2, 2013 10:33 AM
Subject: CEO pay revealed
To: "Daniel A. Stafford" <aquarianm@gmail.com>
Cc:

Corporations will have to start disclosing how much CEOs are paid compared to the typical worker if the SEC implements a new rule. But corporate lobbyists are fighting like mad to stop it. Tell the SEC to resist corporate pressure and stick to its plan to require disclosure.

Daniel,

After years of delays, the SEC has just voted to enact a potentially game-changing provision of the Dodd-Frank Act on CEO compensation, and corporate America is fighting like mad to stop it.

The new provision requires corporations to disclose the amount their CEOs make compared to the salary of the median worker. Corporate actors are shocked because the rule is surprisingly strong -- it doesn't allow many of the usual gimmicks that corporations use to skew data. This new rule could set off a revolution at Walmart and other companies that are getting rich off of underpaid staff.

The US Chamber of Commerce and other big business organizations are frightened, and are fighting back, pressuring the SEC to change its mind during a sixty-day comment period going on now. Sign our petition to the SEC today to ensure that your voice is heard, and the SEC makes the right call on corporate disclosure.

Tell the SEC to resist corporate pressure and get corporations to publish information on their CEO pay!

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. Help us ensure that the provision stays in place, to stop the wild greed at the top of the largest companies in the US.

Unsurprisingly, corporate lobbyists are doing everything they can to stop these new rules, and if it looks like the public isn't paying attention, the SEC might just give in and water down its disclosure requirements. We can't let them get away with that. Let's flood the SEC with comments demanding the strongest possible rules for holding CEOs accountable to their investors and the public. We know regulatory agencies speak up when the SumOfUs community speaks -- the Federal Communications Commission just cited our comments in its decision making it cheaper for incarcerated people to call their families.

What are you waiting for? Click here to submit a comment to the SEC demanding more disclosure on CEO pay.

Thanks for all you do,
Claiborne, Taren, and the team at SumOfUs.org

 

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More Information:

TruthOut: Federal Regulators Finally "Mind the Gap", 22 September, 2013

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