Fund managers and individual investors alike are campaigning for a "say on pay" rule giving shareholders a vote on executive compensation at major corporations, especially America's biggest banks. This is the latest salvo in the battle against Wall Street's exorbitance, and this time it appears shareholders might stand a chance.
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Some 100 companies — from General Electric Corp. to Wal-Mart Stores Inc. — will be voting on "say on pay" proposals, but the odds might not be in shareholders' favor. The average level of support for 51 say-on-pay-type resolutions in 2007 was 43 percent, according to RiskMetrics Group.
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