I am a capitalist and I deplore socialism. However, I have long thought that the Ben and Jerry's example of executives making a multiple of what the lowest paid person makes in the company, is the best solution between unions and out of control executive compensation.
To the 1st generation family entrepreneurs, they and their offspring, ought to be honored for starting up businesses and keeping them in the family. Perhaps a 3 or 4 generation suspension from such rules or laws for family controlled businesses.
Nevertheless, it's refreshing to know that employees will know their bosses are compensation, and the difference between that amount from the amount that they earn.
Over ten years ago, I personally asked the chairman of the Republican party to consider something like the Pay-Gap rule or Ben and Jerry's management to labor pay ratio, in exchange for a special tax break for all conforming companies. I was frown mugged and waved off, as though my suggestion was offensive.
If your proud, say it loud!
Victoria McGrane and
- Victoria McGrane
The Wall Street Journal
- BiographyVictoria McGrane
Joann S. Lublin
Updated Aug. 5, 2015 7:43 p.m. ET
Companies must start disclosing the pay gap between their top boss and rank-and-file employees under one of the most significant postcrisis rules addressing executive pay, launching a period of uncertainty for companies over whether the disclosure will rile up shareholders, employees and the broader public.
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
Additional disclosure: Let us treat others, like we ourselves want to be treated.