Companies May Face New Disclosures About CEO Pay (CBS News)

That said, "the backlash has been so intense from the corporate community," Anderson said of opposition to the proposed rule, which has come from entities including the National Association of Manufacturers (NAM) and the U.S. Chamber of Commerce, one of the nation's top three lobbyist groups.

The industry arguments for a repeal of the proposal include the cost of compliance and the stance by the NAM that manufacturers and other nonfinancial companies "had nothing to do with the financial crisis." In a July 6 letter to the SEC from the NAM's Carolyn Lee, senior director of tax policy, the group also argued that the proposal would not produce useful information for investors.

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