Apparently it is written in the law. Why isn't it being followed??? Here is a copy of the letter that is being sent to the securities and exchange commission
email@example.com - To send more emails.
And if you go to the link you can sign the petition. But this is the first time I am hearing of this. Admittedly I don't follow all the bills passed and what is in them but this is big. If the average person knew how much the CEO'S were skimming off of the top of the till they would be up in arms. I think they just don't know.
"I urge you to promptly issue a rule requiring public companies to disclose their ratio of CEO-to-worker compensation, as required by Section 953(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act. This pay ratio disclosure requirement will help boards of directors and investors evaluate the overall level of CEO compensation relative to other company employees.
The ratio of CEO-to-worker pay is material information for investors for many reasons. Academic studies show that large pay disparities within a company can hurt employee teamwork, productivity, loyalty and motivation. The impact of high levels of CEO pay on employee morale is particularly important in today’s weak economy, when workers are being asked to do more for less."