The Dodd-Frank pay disclosure mandate, the new PayWatch notes, has become more “needed now” than ever. Big-time CEO pay outpaced average worker pay by 380 times in 2011, the stats show, up from 343 times in 2010.
The gap at many individual corporations runs much higher than this overall 380-times average. But we can’t now identify which specific corporations sport the widest pay gaps between CEOs and workers since corporations — until the Dodd-Frank disclosure mandate goes into effect — don’t have to disclose how much they pay their most typical workers.
The SEC could have — and should have — written the rules necessary to put the Dodd-Frank pay ratio disclosure mandate into effect in time for this spring’s annual corporate meetings. The agency flubbed that deadline.
Pay Ratios: Shoving CEOs under an Online MicroscopePosted: April 26, 2012 in Capitalism, The People's History
Tags: #capitalism, #corporatism, #labor, #OWS, #wages, Dodd-Frank