Getting rid of the new pay ratio disclosure requirement scheduled to take effect next proxy season may be harder than the Trump administration thought. I was particularly heartened by this article’s reporting on the number of comments in favor of the proposal (and how that avalanche of comments makes it harder to rescind the rule). And I was particularly amused by the Chamber of Commerce’s desperation ploy when it’s usual “burdensome” argument failed. It’s next attempt was claiming that people might actually use those disclosures to make policy. Uh, that’s the point of information and data, right?
Overpaid CEOs enjoyed a sweet victory in June when the House of Representatives took action to protect them from having to disclose how much more money they make than their workers.But the celebration didn’t last long. The odds of the Senate taking similar action any time soon were always long. Now, given the health care quagmire, these odds are even longer.