Democracy Gone Astray

Democracy, being a human construct, needs to be thought of as directionality rather than an object. As such, to understand it requires not so much a description of existing structures and/or other related phenomena but a declaration of intentionality.
This blog aims at creating labeled lists of published infringements of such intentionality, of points in time where democracy strays from its intended directionality. In addition to outright infringements, this blog also collects important contemporary information and/or discussions that impact our socio-political landscape.

All the posts here were published in the electronic media – main-stream as well as fringe, and maintain links to the original texts.

[NOTE: Due to changes I haven't caught on time in the blogging software, all of the 'Original Article' links were nullified between September 11, 2012 and December 11, 2012. My apologies.]

Saturday, September 21, 2013

Why It's A Good Thing The SEC Is Doing Something About CEO Pay

CEO pay has gotten so out of whack in recent years that regulators are taking notice.

The Securities and Exchange Commission released a proposed rule Wednesday that would require companies to reveal the ratio between CEO and worker pay. Supporters of the proposal, which is part of the Dodd-Frank reform law, say it would help give shareholders a better sense of which companies are paying their CEOs too much. But business groups say the rule would be too much of a burden on companies, requiring them to collect expensive data that doesn't really matter much to investors anyway.

Regardless, the pay gap between CEOs and rank and file workers is stark. The CEO-to-average worker pay gap soared from 195:1 in 1993 to 354:1 in 2012, according to the Institute for Policy Studies. These companies have the largest gaps between CEO pay and median worker pay, according to PayScale.

  • Michael Duke, CEO Of Walmart, Makes 1,034 Times More Than His Workers
    Getty
    CEO Annual Cash Compensation: $23,150,000
    Median Annual Employee Pay: $22,400

  • Gregg Steinhafel, CEO Of Target, Makes 597 Times More Than His Workers
    Target
    CEO Annual Cash Compensation: $17,890,000
    Median Annual Employee Pay: $29,900

  • Robert Iger, CEO Of Disney, Makes 557 Times More Than His Workers
    Getty
    CEO Annual Cash Compensation: $31,630,000
    Median Annual Employee Pay: $56,800

  • David Cote, CEO Of Honeywell, Makes 440 Times More Than His Workers
    Getty
    CEO Annual Cash Compensation: $32,860,000
    Median Annual Employee Pay: $74,700

  • Jamie Skinner, CEO Of McDonald's, Makes 435 Times More Than His Workers
    Getty
    CEO Annual Cash Compensation: $9,550,000
    Median Annual Employee Pay: $22,000

  • Rupert Murdoch, CEO Of News Corp, Makes 409 Times More Than His Workers
    Getty
    CEO Annual Cash Compensation: $24,790,000
    Median Annual Employee Pay: $60,700

  • Irene Rosenfeld, CEO Of Kraft Foods, Makes 388 Times More Than Her Workers
    Getty
    CEO Annual Cash Compensation: $25,360,000
    Median Annual Employee Pay: $65,300

  • Randall Stephenson, CEO Of AT&T, Makes 382 Times More Than His Workers
    Getty
    CEO Annual Cash Compensation: $26,000,000
    Median Annual Employee Pay: $68,100

  • Brian Roberts, CEO Of Comcast, Makes 370 Times More Than His Workers
    Getty
    CEO Annual Cash Compensation: $18,760,000
    Median Annual Employee Pay: $50,600

  • Jamie Dimon, CEO Of JPMorgan Chase, Makes 355 Times More Than His Workers
    Getty
    CEO Annual Cash Compensation: $19,050,000
    Median Annual Employee Pay: $53,800
Original Article
Source: huffingtonpost.com
Author: Catherine Taibi
Topics: , ,

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