Aaron Cynic writes at Diatribe Media:
A group of 81 major corporations believe that public knowledge of what their CEOs make in respect to the average worker is “useless” information. The Washington Post reports that more than a year ago (H/T Alternet), some of America’s biggest corporate movers and shakers began lobbying Congress to force changes to the Dodd-Frank Wall Street Reform and Consumer Protection Act, so companies needn’t bother disclose the wage gulf between executives and workers. A House committee approved the bill 33–21.
Rep. Nan A.S. Hayworth (R-NY), who sponsored The Burdensome Data Collection Relief Act (HR1062), said comparing a CEO’s wage to the average worker could “mislead or confuse investors” and that such a comparison “creates heat but sheds no light.” Tim Bartl, senior vice president and general counsel for the Center on Executive Compensation asked “You can already tell where a CEO falls relative to his peers, you can already tell where he falls relative to the average worker in the industry.… Read the rest