Today, Swiss Voters Vote On CEO Salaries: Maximum Wage

[TalkingDog]

http://www.popularresistance.org/today-swiss-voters-vote-on-ceo-salaries-maximum-wage/


Something astounding is happening in Switzerland. For the first time ever, voters in a modern developed nation are going to be voting on whether to create what essentially amounts to a “maximum wage.”

The vote will come this Sunday, November 24, on a ballot initiative that bans any Swiss corporate executive compensation that runs over 12 times worker pay.

In effect, under this “1:12 Initiative for Fair Pay,” no Swiss company would be able to pay its top executives more in a month than the company’s lowest-paid workers make in a year.

Swiss corporations currently compensate their top execs more generously than any other nation in continental Europe. At pharmaceutical giant Roche, CEO pay runs 236 times the firm’s lowest wage. At Nestle, the divide spreads 188 times.

[enlightenment]

1. Hope it passes.

This needs to spread.

[PoliticAverse]

2. It failed (~65% against)....

See: http://www.democraticunderground.com/1014656429

[enlightenment]

3. Too bad.

Its failure will give impetus for greater disparity, I suspect. That's the way "free-market capitalism" works - in the minds of the big money corps, the voters have given them permission to take the mile instead of the inch.

edit: spelling

[FarCenter]

4. Swiss vote no to capping bosses' pay at 12 times lowest paid

Swiss voters have rejected a proposal that would have limited executive pay to 12 times that of the lowest paid.

The referendum saw 65.3% vote against the plan with 34.7% in favour.

http://www.bbc.co.uk/news/business-25076879