Shareholder Say on Executive Pay

[Omaha Steve]

http://www.afscmeblog.org/category/retirement-security/

April 11th, 2008

This just out: A Time Magazine feature on executive compensation and how the “Say on Pay” movement began… at AFSCME. AFSCME has led shareholder reform efforts at major U.S. corporations such as AIG, Morgan Stanley and Home Depot and has played a leading role fighting for more democratic elections on corporate boards and has led the effort to restrain runaway executive pay. Read the full story.

Also out this week, USA Today ran a three-page feature on executive compensation complete with an interactive chart of CEO pay and stock awards at the top 50 companies in the S&P 500.

Today AFSCME is leading an effort to vote against the directors at Washington Mutual, who decided to award bonuses to executives despite the huge losses to the company from the subprime mortgage mess for which they were directly responsible. We will continue these efforts until skyrocketing CEO and executive pay is brought under control.

LINKS in story at link above.

[napi21]

1. I heard Barack has introduced a bill for Say Go legislation.

HI heard about it on Ed Schultz' Show. The only problem I see with this is that most of the MAJOR stockholders of any large company are institutional investors...the same guys who are making the bog $$ somewhere else! Somehow I can't see THEM voting against big bucks for their buddies!

The only way I could see this working is if each shareholder would only get ONE VOTE, same as Bill Gates, no matter how much $$ he has, still only gets ONE VOTE for POTUS. THAT would make everything even for you & I who, if we're lucky, have 100 shares.