"Last year, Oracle (ORCL, Fortune 500) CEO Lawrence Ellison made $96.1 million, Exxon Mobil (XOM, Fortune 500)'s R. W. Tillerson made $40.2 million and Wal-Mart (WMT, Fortune 500)'s Michael Duke made $20.7 million.
"Soon, the SEC might require those companies to say how those salaries compare with the folks who work for them.
"Although it's not clear when the SEC will finalize its proposal, the decision is expected soon. After that, it might take another year to implement.
"The rule is a result of the Dodd-Frank Wall Street reforms of 2010. But little progress has been made, partly because the rule lacked a deadline and partly because big companies lobbied against it."
"While median wages aren't known for each company or industry, the average wage for all kinds of U.S. workers was roughly $43,000, according to Bureau of Labor Statistics August data.
"That puts Oracle's Ellison's pay at 2,236 times the average worker's pay, Exxon's Tillerson at 936 times the average worker pay and Wal-Mart's Duke at 481 times the average worker pay."
Oh! can't we just hear the big companies lobbing against it?!