How Many Workers Must Live In Poverty For McDonald’s CEO To Make $21.8 Million?
“Pay ratios between that of the CEO and median pay for workers became mandatory under the Dodd-Frank legislation — a law and related regulations the GOP has targeted for destruction if possible, massive scaling back if not. Corporations and their proxies so far haven’t embraced the mandatory pay ratio disclosures. Instead, they’ve attacked the measure and tried to undercut what insight the information can provide. Nell Minow, an old colleague of mine, expert in corporate governance, and vice chair of ValueEdge Advisors, called the rhetoric ‘corp-splaining’ — companies trying to tell people outside of a corner office why they shouldn’t care — and pointed to a blog post from Pearl Meyer. The company, which advises on compensation (which often means justification for eyebrow-raising levels of pay for executives), dismissed the pay ratio, saying ‘this isn’t anything we didn’t already know.’”