Swiss Referendum Backs Executive Pay Curbs

gollum123 writes in with news that Switzerland may soon have the world's strictest corporate rules. "Swiss voters have overwhelmingly backed proposals to impose some of the world's strictest controls on executive pay, final referendum results show. Nearly 68% of the voters supported plans to give shareholders a veto on compensation and ban big payouts for new and departing managers. The new measures will give Switzerland some of the world's strictest corporate rules. Shareholders will have a veto over salaries, golden handshakes will be forbidden, and managers of companies who flout the rules could face prison.The 'fat cat initiative', as it has been called, will be written into the Swiss constitution and apply to all Swiss companies listed on Switzerland's stock exchange. Support for the plans — brain child of Swiss businessman turned politician Thomas Minder — has been fueled by a series of perceived disasters for major Swiss companies, coupled with salaries and bonuses staying high."

Comments

Re:Before people scream socialism

[Anonymous Coward]

Bye bye, high paying professional jobs only provided in corporate headquarters!
And bye bye, income tax paid by all these professionals!

Re:Good

[gandhi_2]

If you don't like the government controlling every aspect of your life, don't cheer when a government controls yet another aspect of someone's life.

Leftism boils democracy down to "two wolves and one lamb" voting on dinner.

Stop cheering for communism. It sounds fun at first... with all the "big X" and "fat cat" talk, maybe a few Che posters and an occupy rally.... but eventually you end up in a gulag.