“ At a lunch in New York, Stemberg and Allison shared their disdain for Section 953(b) of the Dodd-Frank Act, which requires public companies to disclose the ratio between the compensation of their CEOs and employee medians, according to Allison. The rule, still being fine-tuned by the Securities and Exchange Commission, is “incredibly wasteful” because it takes up time and resources, he said. Stemberg called the rule “insane” in an e-mail to Bloomberg News.
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From the brilliant Bloomberg News story by Max Abelson in which rich assholes in the 1 percent shoot their mouths off. Amazingly they go ON RECORD saying stupid things like the above.
Read all of it here.
