Saturday, June 25, 2011
Peter Whoriskey, Washington Post
Peter Whoriskey, Washington Post
U.S. Companies Fight CEO Pay Disclosure
[WAPO] A group backed by 81 major companies — including McDonald’s, Lowe’s, General Dynamics, American Airlines, IBM and General Mills — is lobbying against new rules that would force disclosure of how much more their chief executive makes than the typical worker.
[excerpt] The lobbying effort began more than a year ago. It involved some of the biggest names in corporate America and meetings with members of both parties on the House Financial Services Committee and Senate banking committee.
The companies and their Republican allies in Congress call comparisons between the chief and everyone else in the company “useless.” [WAPO]
Earlier this week, a House committee approved a bill that would repeal the disclosure requirement. Unsurprisingly, 29 Republicans and 4 Democrats supported repeal; 21 Democrats opposed it.
Fuck the Republicans. Fuck CEOs. Fuck Big Business.
Read Full Washington Post Article
Posted by Editor on 06/25/11 at 09:04 AM •
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