The effort to give stockholders a “say on pay”—determining the compensation packages of companies’ top executives—gained traction in 2009 as 38 publicly traded companies said they would address compensation issues. While some companies saw the writing on the wall regarding executive pay in the slumping economy of 2009 and pledged to adjust pay packages, others still resisted. At Cisco Systems, the technology corporation, shareholders forced a vote on the issue for the second year in a row in 2009. They prevailed this time, garnering 51.4 percent of all shares voted. The issue has also picked up steam in Washington, where government officials rescued financial firms through its Troubled Assets Relief Program and joined the outcry when some bailed-out firms still produced hefty bonuses for top executives.
A Push for Executive Accountability
Show Comments (
)
Comments are automatically closed two weeks after an article's initial publication. See our comments policy for more.
The latest from america
This week on “Preach,” the Rev. Peter Wojcik, the pastor of St. Clement Church in Chicago, Ill., preaches for the Sixth Sunday of Easter, Year B, and shares strategies for preaching to a parish of mostly young adults.
“His presence brings prestige to our nation and to the entire Group of 7. It is the first time that a pope will participate in the work of the G7,” Italian Prime Minister Giorgia Meloni said.
“Many conflicting, divergent and often contradictory views of the human person have found wide acceptance … they have led to holders of traditional theories being cancelled or even losing their jobs,” the bishops said.
Robots can give you facts. But they can’t give you faith.