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The hardest stock corporation law in the world - the pilot experiment

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posted on Mar, 2 2013 @ 08:06 PM
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As it is now the heads of stock corporations decide themself about the size of their compensation. This has led to exorbitant compensations in no relation to qualification and real value of corporate leaders. The actual owners of the companies - the stock owners - had no say in it. Tomorrow, we, in Switzerland, will vote to stop this self-serving behaviour of corporate leaders. The country has seen the highest CEO salaries in the EU, even when the companies did perform badly and had to be rescued by government intervention.
Of course there are lot of doom prophecies coming from economic and politcal leaders, who launched big campaigns trying to convince people to vote against the initiative tomorrow. But I think the initiative will win, because the only thing people here appreciate more than economic wealth is the democratic principle. And the initiative will just provide that principle for corporations.
In doing so, this will be a pilot experiment. The country with its very robust, prosperous and healthy economy and job market has a lot to lose. If the experiment shows that cutting the exorbitant compensations doesnt affect the economy negatively, then other nations could follow this example. I sure hope so. Something just has to change - there is no reason not to start a revolution against those 1% who own it all.

If you want something to read on the subject:
www.nytimes.com...
edit on 2-3-2013 by CriticalCK because: (no reason given)
edit on 2-3-2013 by CriticalCK because: (no reason given)




posted on Mar, 2 2013 @ 08:28 PM
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Yes, I agree that the separation of wealth is ever growing between the elites and poor. I kind of have to even acknowledge that the term "middle class" is becoming more and more useless... we are either rich or poor.

I do hope to see laws made to limit the amount that CEO's can earn, but only do to the fact that it is obvious that the mass of employees turn their back to the fact that money is being withheld from them to fatten the pockets of CEO's. It is our choice to work for these companies that set wage scales among employees and/or management.

Trader Joe's for instance mandates in their practices that no employee of the company, CEO included, can earn no more than 19 times the starting salary. It is up to us as good employees, I believe, to think of these things when we start the processes of getting employment. I would bet that maybe 1% of all people consider these issues when they choose to devote 1/3 or more of their lives to earn money for the chosen company. It never seems to settle in as to the fact that we contribute to allowing it, rather than not participating in the lop-sided scheme to begin with. I relate picking our employment much the same as I do voting... it really falls on the masses in the end to do the right thing.

With that said, 1% of people thinking as I stated here, if that's even an accurate percentage, are not enough of a percentage to make compensation an even playing field. This all equates to the obvious need for law(s) to correct the obvious deceit.





 
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