The SEC, in its, um, finite wisdom, appears to be moving to require more disclosure on executive pay in order to "better serve" stockholder interests. One of the parts of the proposal is to reduce the amount of extra-wage compensation required to have SEC regulations apply to $10,000 from $50,000.
Now think about this. In order to allow stockholders to "rein in" pay packages in the millions, the SEC is going to analyze every bonus or perk that costs more than $10,000.
In other words, they're going to look at the perks of a good portion of all professionals (engineering, law, etc..) and first level managers in the effort to help stockholders control executive pay--causing some of them to disappear due to the costs of compliance, while doing nothing to control excesses like those of Enron or Tyco.
Thanks, SEC. Not.
Some pics for your enjoyment... - Lord willing, this Saturday our youngest son Taylor will wed Miss Réze (pronounced reesa) Schreuder, eldest daughter of Mr. and Mrs. Niek (Therese) Schreu...
4 hours ago