Monday, March 4, 2013

The Swiss Strike Back at Executive Over-Payment

Voters in Switzerland have stuck a blow against those executives who raid the corporate kitty to enrich themselves, giving shareholders a direct say in how much those executives earn.

In addition, says a story in today's New York Times, "Companies would no longer be allowed to give bonuses to executives joining or leaving the business, or to executives when their company was taken over. Violations could result in fines equal to up to six years of salary and a prison sentence of up to three years."

Sounds like an idea whose time has some, at least in the developed world. Third-World governments/economies, like ours, will take a while to get there.

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