"SEC moves toward mandate on CEO-worker pay gap"

[applegrove]

SEC moves toward mandate on CEO-worker pay gap

By MARCY GORDON
AP Business Writer

http://hosted.ap.org/dynamic/stories/U/US_SEC_CEO_PAY?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT

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WASHINGTON (AP) -- Public companies would have to show the difference in pay between their CEOs and ordinary employees under a proposal advanced by federal regulators.

The Securities and Exchange Commission voted 3-2 Wednesday to propose a rule that would compel companies to report that information publicly. Companies would have to report the ratio between their chief executive's annual compensation and the median, or midpoint, pay of employees.

The two Republican commissioners, Daniel Gallagher and Michael Piwowar, opposed the proposal, calling it political showmanship meant to publicly "shame" CEOs.

"Shame on us for putting special interests ahead of investors," Piwowar said before the vote.




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[NYC_SKP]

1. K and WTF? "special interests"???? Ordinary employees are a "special interests"?

Ordinary employees make the CEOs and investors the fucking money.

FFS.

[Marie Marie]

2. Impossible to publicly "shame" CEO's.

They have no shame and they laugh in the faces of the people that rail against them.

[Thinkingabout]

3. Someone somewhere should be ashamed, either to their employees and or the share

Holders, more than likely both the workers should be receiving higher wages and shareholders should be receiving higher dividends. It is outrageous the executive/worker ratio is over 400:1. Talk about getting our economy going would be to lower executive salaries and raise worker salaries by the amount of executive decrease. I know executives explain the companies would not be able to hire good executives without the large wages, they must have never heard of sticking one's finger in a glass of water and look to see if there is a hole when they pulled their finger out, this means everyone can be replaced.

[Uncle Joe]

4. If the workers are special shouldn't they be getting paid more?

Thanks for the thread, applegrove.

[BKH70041]

5. Meh

I would say the average employee couldn't tell you what their CEO makes and as long as stockholders are making money they're happy.

I just don't believe this will cause the stir some think it will, but we'll find out.

[Mopar151]

6. When the stockholders see where their dividend went..... n/t

[Half-Century Man]

7. So, the 2 Republican commissioners admit, publicly, that executive saleries are shamefully high.

About time.
I say the max should be 40X median pay.

[Enthusiast]

9. 40X would be a huge cut. We need a max.

I'm for it.

[Half-Century Man]

10. That was my max.

Okay, lets skip the knee-jerk anger answer, how about...... We should have a maximum of $5,000,000.00 ( 5 million dollars)earnings per year per household; all earnings in any fashion. That's $13,698.63 dollars an hour, 228.31 dollars a minute, or 104X the median wage of $48,000 a year. That is all the new money anyone would need to bring household budget.
Whatever wealth you manage to save is yours, provided you keep yearly income at 5 mil dollar chunks. You could die with a fortune of 199 trillion dollars if you want, if you build it in 5 mil dollar blocks.
If you think you can't live on more than $5,000,000.00 a year, learn to budget. If you are sure you deserve more than $ 5,000,000.00 a year, immediately seek therapy, you might have a brain tumor. If you can't possible work for less than $ 5,000,000.00 a year, Great! Get the hell out of the way. Other people can do the job instead. With an adult population of 218.5 million people (According to answerparty.com [3:57 am, 9/23/13]), it is mathematical impossible to not be able to find someone who could match or exceed your qualifications. If you are so great that your name is worth more than $5,000,000.00 a year; Prove it, take and be happy with your 5 mil, and have your additional worth donated to a worthy cause. Actually be Great.

He who dies with the most toys, still dies., all by themselves, taking nothing with them. There will be no winner. The race to the top is pointless. Or at least the point is lost, if everyone else has to suffer. Just as meals taste better if you can share them with people, success feels better if everybody is successful.

[Triana]

8. Putting shame where it's due....

...I got no problem with that.