Switzerland To Vote On Radically Limiting CEOs’ Pay Nationwide

ZurichMontageMost likely with fists clenched and all the blood drained from its face, the Wall Street Journal reports:

Switzerland is expected to vote later this year on a proposal to place further limits on executive pay, the latest effort to govern corporate compensation in a country that recently approved some of the world’s strictest say-on-pay rules.

The Young Socialists have collected more than 100,000 signatures—the threshold needed to call a vote—in support of a referendum to limit executive salaries to 12 times those of a company’s lowest-paid employee.

The campaign, dubbed the 1:12 Initiative for Fair Pay, is named for the organizers’ belief that no one in a company should earn more in one month than the lowest-paid employee makes in a year.

The Swiss Federal Council, the country’s cabinet, has advised the parliament to recommend that voters reject the proposal. However a poll earlier this month showed 49.5% of respondents were in favor of the 1:12 Initiative, 40.5% against and 10% undecided.

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  • Liam_McGonagle

    I don’t understand the attitude of people these days.

    How do you expect to motivate performance unless you guarantee obscene amounts of pay to people who already have more than they know what to do with?

    • Andrew

      And by “performance” you of course mean lowering the quality of working environments, lowering the quality of products, polluting, and moving numbers around on computers. ;)

      • Liam_McGonagle

        Naturellement. Are there any other metrics that matter?

        • InfvoCuernos

          We’re all going to be in a lot of trouble when they figure out a way to turn us directly into money without having the inconvenience of having to actually treat us like humans.

          • Liam_McGonagle

            I think the Nazis beat Wall Street to the punch. Soap and lampshades, anybody?

            But of course, the modern prole is much savvier; the discerning among them will insist their flesh be rendered into only into the highest quality soaps, lavender-scented stuff moulded into rose petals and the like.

            I’ve been letting myself go lately, so I could see myself doing eternity as upholstery for an armchair.

          • InfvoCuernos

            So there’s truth to the old joke about becoming a girl’s bicycle seat when you die?

    • CrazedLeper

      Damn you! My sarcasm detector exploded!

  • BuzzCoastin

    Der Homeland tax law says
    any company employee using the corp jet for personal use
    must reimburse the company for it’s use
    but it does not say the company
    cannot reimburse the executive for his reimbursement
    which they routinely do

    good luck Switzerland
    your nativity is refreshing & very Swiss

  • Rx Relaxation

    I’m not Rx/Relaxation, I’m a friend and he’s gone to sleep and this was on the computer, so I felt like replying. Liam and Andrew, you’re both right, that’s how our world works, both ways, and because we go along with it because it works that way and also because we don’t change it ourselves. Not easy to get out of, rather clumsy because there aren’t many other systems to help. It is possible, even if it simply starts in our minds, HEARTS rather, to see it all differently. Small steps at distancing ourselves from the conveniences.
    Reading your responses, you feel you’re making a difference to lash out. I love the F you finger, and the Namaste from both of your profiles… life is night and day, dark and light, cold and hot. A little finger and a little namaste is good. What are we each, going to do with it to ‘pay a good forward’, and not give attention to useless acts. “They” might not listen, but we should listen to each other.
    What if we were the 100% together, instead of the divided 99% and 1%?
    Separation is the beginning of separation….
    Unite
    Good nite
    Krystyna

  • Rx Relaxation

    So, after my last post, I would say, fight control, don’t stop screaming, get in as many faces as you can, and shame monetary dominance as value of a human being. It must be respected until it’s fall, but it should also be listened to and reasoned with, for the benefit of all, in the the transition to money having no value.
    Remember please, you have value simply by being born….what can you produce for this world? This is what we’ll count on
    Krystyna

  • Matt

    This is brilliant!!! It’s a win-win for everybody. CEO wants to get paid more, well distribute the money to everyone. Everyone gets a pay increase. People at the bottom of the pyramid’s pay goes up, CEO money goes up. It’s only fair. Plus, the economy would improve a lot too! Probably less crime. Less poverty. I think it’s genius.