In the referendum, voters will vote for or against the idea of limiting executive pay to 12 times the level of the lowest-paid employee.
In 1998, top salaries at the largest Swiss companies stood at 14 times those of the lowest-paid workers.
In 2011, top salaries at the largest Swiss companies stood at 93 times those of the lowest-paid workers.
In 2011, top salaries at the largest Swiss companies stood at 93 times those of the lowest-paid workers.
You may think it reasonable that no one in a company should get more in one month than the lowest-paid employee makes in a year.
The top people in Switzerland are urging voters to reject the 1:12 initiative for fear it could make it hard for companies to recruit top crooks as managers.
In March 2013, Swiss voters overwhelmingly approved the Rip-Off Initiative which gives shareholders binding votes on executive pay and bans the payment of signing-on and golden handshake payments.
Polls indicate that the Swiss voters will be conned into rejecting the 1:12 initiative.
Public support for 1:12 pay cap appears to wane - SwissInfo
Anonymous said...
Let's try it the other way around.
Polls indicate that the Swiss voters will be conned into rejecting the 1:12 initiative.
Public support for 1:12 pay cap appears to wane - SwissInfo
Anonymous said...
Let's try it the other way around.
Rather than tell the managers of corporations how little they may earn
we instead tell them that they may pay themselves as much as they like, with the caveat that they must then in turn pay their lowliest employee one twelfth of that amount.
What's unfair about that?
As for market forces and the old we-have-to-pay-huge-salaries-otherwise-we'd-get-crap-executives chestnut, didn't that one die in the arse when we had every bank executive who ruined the economy pay themselves fatbonuses?
Honestly, is there any evidence of a link between competency and remuneration?
Who were the executives responsible for shipping the US's entire manufacturing base to China and India and ruining the country's economy? Who fucked Greece, and Ireland, and Italy, and Iceland, and Portugal, and Spain? Were they executives who'd tell you that they have to be paid big salaries otherwise incompetents would ruin everything?
This is 'tiger amulet' logic. Wear it and you'll never get attacked by tigers. And if you do happen to get attacked, you can console yourself with the knowledge of how much worse if would have been had you not worn it.
we instead tell them that they may pay themselves as much as they like, with the caveat that they must then in turn pay their lowliest employee one twelfth of that amount.What's unfair about that?
As for market forces and the old we-have-to-pay-huge-salaries-otherwise-we'd-get-crap-executives chestnut, didn't that one die in the arse when we had every bank executive who ruined the economy pay themselves fatbonuses
?Honestly, is there any evidence of a link between competency and remuneration?
Who were the executives responsible for shipping
the US's entire manufacturing base to China and India and ruining the country's economy? Who fucked Greece, and Ireland, and Italy, and Iceland, and Portugal, and Spain? Were they executives who'd tell you that they have to be paid big salaries otherwise incompetents would ruin everything?This is 'tiger amulet' logic. Wear it and you'll never get attacked by tigers. And if you do happen to get attacked, you can console yourself with the knowledge of how much worse if would have been had you not worn it.
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