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http://www.businessinsider.com/switzerland-to-vote-on-112-initiative-2013-11
On Sunday afternoon we will find out if Switzerland will go ahead with one of the most radical plans to fight inequality ever: Limiting the monthly pay of top executives to that of their lowest paid employees' yearly salary.
Limiting compensation to 1:12 would be a historic change: Currently, a lot of Swiss firms have a ratio of more than 100:1. Roche, the Swiss drug giant, reportedly paid its top executive $13.9 million in 2012, and its lowest $59,000 — a ratio of 1:236.
This isn't just a Swiss thing either. One study has shown that the average American CEO earns 200 times the salary of their lowest paid employee.
The idea was proposed through Switzerland's direct democracy system, and if more than 50% of voters and representatives of the Swiss federal states (cantons) agree to it, it must become law. Voters have had a month to vote via post, and on Sunday they can attend polling stations.
Read more: http://www.businessinsider.com/switzerland-to-vote-on-112-initiative-2013-11#ixzz2lT9BosAt
On Sunday afternoon we will find out if Switzerland will go ahead with one of the most radical plans to fight inequality ever: Limiting the monthly pay of top executives to that of their lowest paid employees' yearly salary.
Limiting compensation to 1:12 would be a historic change: Currently, a lot of Swiss firms have a ratio of more than 100:1. Roche, the Swiss drug giant, reportedly paid its top executive $13.9 million in 2012, and its lowest $59,000 — a ratio of 1:236.
This isn't just a Swiss thing either. One study has shown that the average American CEO earns 200 times the salary of their lowest paid employee.
The idea was proposed through Switzerland's direct democracy system, and if more than 50% of voters and representatives of the Swiss federal states (cantons) agree to it, it must become law. Voters have had a month to vote via post, and on Sunday they can attend polling stations.
Read more: http://www.businessinsider.com/switzerland-to-vote-on-112-initiative-2013-11#ixzz2lT9BosAt
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