Posted on 08/10/2015 3:33:32 AM PDT by IBD editorial writer
When the Securities and Exchange Commission released its CEO pay rule this week, many cheered it as a way to shame companies into moderating outlandish pay packages.
The rule, which goes into effect in 2017, mandates that publicly-traded companies disclose the gap between what their top executives are paid and what their rank and file workers make.
As the New York Times' Gretchen Morgenson put it, "because the rule will generate an easily graspable and often decidedly shocking number, it may energize a cadre of new combatants in the executive pay fight."
It could have the opposite effect.
(Excerpt) Read more at news.investors.com ...
It looks like focusing on college professors and the cost of tuition could get more bang for the buck.
Man but think of all the liberal CEOs its going to expose as hypocrites.
I could care less what my CEO makes. He risked the capital to start the business, directed it’s growth, and about 600 of us have jobs. Why put up barriers in front of such people or try to shame them. The author of this regulation should read Atlas Shrugged.
I don’t care about the “gap” between CEO snd employee pay,and employees have no right to know CEO pay, but the shareholders who OWN the company absolutely have a right to know what the CEO makes.
Some CEOs are worth even more than they make and others are overpaid. Management of many public corporations are effectively “skimming off the top”.
Also, most CEOs of major companies are employees not founders who took a big risk and invested their own money.
Forbes had done this for years.....
http://www.forbes.com/lists/2012/12/ceo-compensation-12_land.html
Rank
Name
Company
1-Year Pay ($mil)
5 Year Pay ($mil)
Shares Owned ($mil)
Age
Efficiency
178
Sheldon G Adelson
Las Vegas Sands 9.565 23.26 19,207.0 78 156
18
Richard C Adkerson
Freeport-McMoRan Copper & Gold 39.535 183.22 117.5 65 106
468
Daniel F Akerson
General Motors 1.7 - 6.5 63 -
426
Nicholas K Akins
American Electric Power 2.816 - 0.0 52 -
275
Anthony J Alexander
FirstEnergy 6.165 43.04 20.4 60 163
211
Samuel R Allen
Deere & Co 8.3 19.193 6.5 58 -
83
Daniel P Amos
Aflac 17.13 141.78 249.7 60 133
305
Gerard M Anderson
DTE Energy 5.4 - 10.7 54 -
130
Richard H Anderson
Delta Air Lines 13.175 20.932 17.9 56 -
159
Lamberto Andreotti
Bristol-Myers Squibb 10.85 28.243 9.1 61 -
I was on vacation with relatives when this headline came out.
My sis and B-I-L seemed to think that this was a good thing, until I remarked that, if the government can control the salaries of these incredibly powerful people, imagine what they can do to little ol’ YOU!
Why is the CEO’s salary any concern of mine?
And when the embers of envy make the iron hot enough, the elite will strike.
Do not be surprised when they will be glad to sacrifice for the cause as long as everyone else isn’t getting ahead of them (of course the elite providers are exempt).
Bingo on that point.
Big brother dictates how much everyone makes to make it fair. From each according to their ability, to each according to their need.
Indeed.
the very people (the elites) who will be affected by this are mostly liberals.
Karma! :-)
Yes Indeed.
I think it was Jefferson who said that a government that is big enough to give you everything is also big enough to take everything away from you!
Isn’t CEO pay a tax dodge? The more they get the more the company gets to write off? In return some of these ceo’s give lots of money to politicians as a payoff?
CEO pay rules pretty much always fail. Most CEOs did not get where they are by being stupid and they are generally much smarter than the idiots writing the rules.
Jefferson never said it. Gerald Ford used it in an address to Congress in 1974.
http://www.monticello.org/site/jefferson/government-big-enough-give-you-everything-you-wantquotation
OK...I knew I remembered it from somewhere.
It’s true, though.
Yes it is. I was very surprised when I saw it attributed to Ford a few years ago. Maybe he was much smarter than the media made him out to be.
Not likely. The vast majority of CEOs, executives, and directors of corporations have never "risked" a dime of their own capital.
The vast majority of executive and director people today are flaming liberals who attended school with other flaming liberals, who studied under professors who were mostly flaming liberals. Commies; anti-capitalists; the whole bunch.
Perhaps a small percentage of CEOs actually started and built a business, but they are an extreme minority.
Well, Chevy Chase made sure of that!
I think the poster was referring to HIS CEO,not all CEOs.
.
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