It looks like the overpaid CEOs have decided that telling shareholders just how overpaid they are is an unreasonable burden:
US companies face a “logistical nightmare” from a new rule forcing them to disclose the ratio between their chief executive’s pay package and that of the typical employee, lawyers have warned.
The mandatory disclosure will provide ammunition for activists seeking to target perceived examples of excessive pay and perks. The law taps into public anger at the increasing disparity between the faltering incomes of middle America and the largely recession-proof multimillion-dollar remuneration of the typical corporate chief.
S&P 500 chief executives last year received median pay packages of $7.5m, according to executive compensation research firm Equilar. By comparison, official statistics show the average private sector employee was paid just over $40,000.
If you cannot determine the number of employees, and your total payroll (total payroll $/number of employees=average pay) in under 10 minutes, then you aren’t doing your f^%$ing job.
Yes, I know that the actual number is the median salary, so that should only take 15 minutes.
The real problem is not the ratio, it’s that they don’t want the shareholders, who, you know, actually own the damn company, to know how much they are getting paid.
It’s f%$#s like this that make me say to people, “If you plan on going postal, take out upper management first.”