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Fight for Your Right to Vote for CEO Pay
Oct 19, 2010
From the file marked "Good but could go bad," there's this news. We already know that CEO pay has spiked alarmingly over the last decade or so, causing dangerous rifts as ordinary working people struggle to get by and watch their jobs go poof.
Well, the recently-passed Wall Street Reform and Consumer Protection Act had as one of its strongest features the right for shareholders to vote on CEO pay for corporations for which they hold stock. Nice. That means real people that have worked their lives to set aside money for retirement--people with pension funds--would get to vote.
Naturally, corporate executives don't like that. And they're fighting back. The Chamber of Commerce and other big business groups are lobbying the U.S. Securities and Exchange Commission to change the rules, allowing corporations more control over the voting system by which shareholders can express their opinions.
You can weigh in as well, but you've only got until October 20th to do so. And it'll take a lot of public outrage to outweigh the unlimited amounts of cash that the Chamber of Commerce and other groups can spend.
For more on the Chamber of Commerce and how it does the bidding of big corporations at the expense of small businesses, keep an eye out for our new investigative series, "The Loaded Chamber." The first part comes out this week.
And in the meantime, don't forget to speak up for your right to influence runaway executive pay.
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© 2023 Laura Flanders
Laura Flanders
Laura Flanders interviews forward-thinking people about the key questions of our time on The Laura Flanders Show, a nationally syndicated radio and television program also available as a podcast. A contributing writer to The Nation, Flanders is also the author of six books, including "Bushwomen: How They Won the White House for Their Man" (2005). She is the recipient of a 2019 Izzy Award for excellence in independent journalism, the Pat Mitchell Lifetime Achievement Award for advancing women's and girls' visibility in media, and a 2020 Lannan Cultural Freedom Fellowship for her reporting and advocacy for public media. lauraflanders.org
From the file marked "Good but could go bad," there's this news. We already know that CEO pay has spiked alarmingly over the last decade or so, causing dangerous rifts as ordinary working people struggle to get by and watch their jobs go poof.
Well, the recently-passed Wall Street Reform and Consumer Protection Act had as one of its strongest features the right for shareholders to vote on CEO pay for corporations for which they hold stock. Nice. That means real people that have worked their lives to set aside money for retirement--people with pension funds--would get to vote.
Naturally, corporate executives don't like that. And they're fighting back. The Chamber of Commerce and other big business groups are lobbying the U.S. Securities and Exchange Commission to change the rules, allowing corporations more control over the voting system by which shareholders can express their opinions.
You can weigh in as well, but you've only got until October 20th to do so. And it'll take a lot of public outrage to outweigh the unlimited amounts of cash that the Chamber of Commerce and other groups can spend.
For more on the Chamber of Commerce and how it does the bidding of big corporations at the expense of small businesses, keep an eye out for our new investigative series, "The Loaded Chamber." The first part comes out this week.
And in the meantime, don't forget to speak up for your right to influence runaway executive pay.
Laura Flanders
Laura Flanders interviews forward-thinking people about the key questions of our time on The Laura Flanders Show, a nationally syndicated radio and television program also available as a podcast. A contributing writer to The Nation, Flanders is also the author of six books, including "Bushwomen: How They Won the White House for Their Man" (2005). She is the recipient of a 2019 Izzy Award for excellence in independent journalism, the Pat Mitchell Lifetime Achievement Award for advancing women's and girls' visibility in media, and a 2020 Lannan Cultural Freedom Fellowship for her reporting and advocacy for public media. lauraflanders.org
From the file marked "Good but could go bad," there's this news. We already know that CEO pay has spiked alarmingly over the last decade or so, causing dangerous rifts as ordinary working people struggle to get by and watch their jobs go poof.
Well, the recently-passed Wall Street Reform and Consumer Protection Act had as one of its strongest features the right for shareholders to vote on CEO pay for corporations for which they hold stock. Nice. That means real people that have worked their lives to set aside money for retirement--people with pension funds--would get to vote.
Naturally, corporate executives don't like that. And they're fighting back. The Chamber of Commerce and other big business groups are lobbying the U.S. Securities and Exchange Commission to change the rules, allowing corporations more control over the voting system by which shareholders can express their opinions.
You can weigh in as well, but you've only got until October 20th to do so. And it'll take a lot of public outrage to outweigh the unlimited amounts of cash that the Chamber of Commerce and other groups can spend.
For more on the Chamber of Commerce and how it does the bidding of big corporations at the expense of small businesses, keep an eye out for our new investigative series, "The Loaded Chamber." The first part comes out this week.
And in the meantime, don't forget to speak up for your right to influence runaway executive pay.
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