Body:

Compensation for corporate executives is out of control. Top officials from the nation's largest corporations, such as Pfizer and Exxon Mobil, were paid an average $11.75 million in 2005. IBM freezes workers' pensions while its CEO, Samuel J. Palmisano, rests easy knowing he'll be getting $4 million a year after he retires. As workers' job security and pensions diminish more every year, CEO's have seen their pay and retirement packages grow by the millions--regardless of their job performance.

Many major companies are known for using accounting tricks to avoid complying with U.S. Securities and Exchange Commission (SEC) rules dictating that executive salaries must be reported. The SEC is considering new rules that would force companies to explain their compensation packages in layman's terms and include an estimated dollar value for all forms of compensation, in an attempt to promote transparency.

If these rules pass, it will be the first revamping of such pay rules since 1992. However, these new rules would not do anything to clarify to what degree compensation is based on job performance. This gap in the rules leaves stockholders at the mercy of executives to determine their own worth.

If you think executives should have to earn their pay, you can send a message to the SEC encouraging it to put these rules in place, at www.unionvoice.org/campaign/paywatch. You can also send a letter to Susan Ferris Wyderko, Acting Director of the SEC's Division of Investment Management, at SEC Headquarters, 100 F Street NE, Washington, DC 20549. You can reach her by phone at 202-551-6551.

Expiration Date:
Mon, 11/06/2006 - 9:00pm