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Swiss overwhelmingly vote for
golden parachute ban

Agence France-Presse, by Nina Larson

Original Article

Posted By:JoniTx, 3/3/2013 8:32:37 PM

A large majority of Swiss voted Sunday to rein in executive pay and force business leaders to give up golden parachutes, according to final results of the popular vote. A full 67.9 percent of those who voted came out in favour of the initiative, which passed in every single one of Switzerland´s 26 cantons, the federal chancellory said, adding that 46 percent of eligible voters had cast their ballots. The man behind the so-called Minder Initiative, businessman and senator Thomas Minder, said he was not surprised it passed. "The people have decided to send a strong signal

      


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Reply 1 - Posted by: Patchy groundfog, 3/3/2013 8:45:24 PM     (No. 9206578)

Oh look - more statists deciding the why, when, and how much for private businesses under the rubric of ´the people´.

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Reply 2 - Posted by: Scribelus, 3/3/2013 8:51:57 PM     (No. 9206590)

Clearly, all money belongs to the state, and the state may dispense it as it sees fit. Any questions?

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Reply 3 - Posted by: Straitpath, 3/3/2013 9:07:45 PM     (No. 9206614)

I am sad that people don´t understand business. This type of thinking will ultimately be disastrous to she world economy.

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Reply 4 - Posted by: Northcross, 3/3/2013 9:09:24 PM     (No. 9206618)

Guess what, Swiss voters. It is none of your business.

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Reply 5 - Posted by: obviousity, 3/3/2013 9:14:37 PM     (No. 9206621)

FTA: [I]nstead of chasing companies away, such a law would entice investors to set up companies in Switzerland.

Investors do not set up companies, entrepreneurs do. Smells like an Obama sized unintended consequence in the offing.

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Reply 6 - Posted by: 4Justice, 3/3/2013 9:48:18 PM     (No. 9206647)

I do not like any outside intervention into private business and believe a truly free market corrects bad practices through competition and free choice. However, we haven´t seen any truly free market capitalism in ages (if ever). But especially now...things have become so convoluted that the checks on bad practices and rewards for good practices don´t often work anymore. That said, I don´t approve of what Switzerland is doing, but I absolutely abhore how top executives are no longer held accountable to shareholders. They often seem to act like our current corrupt government these days. The golden parachute is a practice that I do not agree with and never have. Usually they end up rewarding those that do not deserve it and shareholders often have no say.

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Reply 7 - Posted by: tisHimself, 3/3/2013 10:46:58 PM     (No. 9206684)

According to US unions AFL-CIO, the pay of chief executives in that country swelled from 42 times the average blue-collar worker´s pay in 1980 to 380 times the average worker´s pay in 2011.

That is a problem. If shareholders have no meaningful say in the compensation and arrangements of boardmembers, the game truly is rigged.

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Reply 8 - Posted by: veritas, 3/4/2013 2:46:31 AM     (No. 9206797)

Uh-oh.

Now we´ll be getting "you don´t own that" from Stinky. Not that he and the rest of the Dems have failed to telegraph that message.

#8: Any union really unhappy with corporate policies and management ought to buy stock in it.

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Reply 9 - Posted by: ROLFnader, 3/4/2013 7:52:26 AM     (No. 9206997)

The upside is that the Occupy Wall Street slugs should all be moving to Switzerland, now.

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Reply 10 - Posted by: BorninOKC, 3/4/2013 9:53:30 AM     (No. 9207264)

In a few years someone can write a dissertation about job loses in the Confoederatio Helvetica. If their government runs at a deficet maybe the Chinese will offer a loan.

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Reply 11 - Posted by: SouthSanAntonio, 3/4/2013 2:17:16 PM     (No. 9207911)

So now that most of those companies will be leaving Switzerland -- taking with them thousands of good jobs -- I hope these idiots will learn to act out of logic and reason instead of feelings in the future.

But probably not. Lie-beralism is a fatal mental disorder with no known cure...

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