The Paycheck Data CEOs Don’t Want Us to See

[marmar]

from Too Much: A Commentary on Excess and Inequality:



The Paycheck Data CEOs Don’t Want Us to See
January 8, 2011

Corporate America is working feverishly behind the scenes to smother a new federal mandate, enacted last year, that just might revitalize the drive to roll back excessive executive pay.

By Sam Pizzigati


Sometimes lobbyists — even the most perfectly coiffed — mess up. Lobbyists for Corporate America messed up big-time last summer. They let slip into law, via the 2,300-page Dodd-Frank financial reform bill, an obscure provision that could give future lawmakers a powerful lever for ratcheting down excessive CEO pay.



Now those lobbyists are pushing hard to undo their mistake — and progressives, led by AFL-CIO president Rich Trumka, are pushing back.

The winner won’t be clear until later this year when the Securities and Exchange Commission, the federal watchdog agency over Wall Street, releases the final regulations that will enforce the Dodd-Frank legislation.

That legislation includes an assortment of provisions that impact executive pay. One of these — “say on pay” — has been receiving a good bit of media attention. This “say on pay” guarantees shareholders a regular opportunity to cast “advisory” votes on the CEO pay packages that corporate boards produce. ............(more)

The complete piece is at: http://toomuchonline.org/the-paycheck-data-ceos-dont-want-us-to-see/

[Kweli4Real]

1. I suspect, this ...

more than anything is behind the republican move to hamstring the administrative agencies' rule making authority.

I mean ... If you give shareholders advisory votes, corporate boards will have to actually apply "free-market" strategies with respect to executive salaries.