Fight for Your Right to Vote for CEO Pay

Fight for Your Right to Vote for CEO Pay

Fight for Your Right to Vote for CEO Pay

The Chamber of Commerce and other big business groups are lobbying the US Securities and Exchange Commission to change the rules, allowing corporations more control over the voting system by which shareholders can express their opinions.

Facebook
Twitter
Email
Flipboard
Pocket

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 US 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 20 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.

The F Word is a regular commentary by Laura Flanders, the host of GRITtv which broadcasts weekdays on satellite TV (Dish Network Ch. 9415 Free Speech TV) on cable, and online at GRITtv.org and TheNation.com. Support us by signing up for our podcast, and follow GRITtv or GRITlaura on Twitter.com.

Thank you for reading The Nation!

We hope you enjoyed the story you just read, just one of the many incisive, deeply-reported articles we publish daily. Now more than ever, we need fearless journalism that shifts the needle on important issues, uncovers malfeasance and corruption, and uplifts voices and perspectives that often go unheard in mainstream media.

Throughout this critical election year and a time of media austerity and renewed campus activism and rising labor organizing, independent journalism that gets to the heart of the matter is more critical than ever before. Donate right now and help us hold the powerful accountable, shine a light on issues that would otherwise be swept under the rug, and build a more just and equitable future.

For nearly 160 years, The Nation has stood for truth, justice, and moral clarity. As a reader-supported publication, we are not beholden to the whims of advertisers or a corporate owner. But it does take financial resources to report on stories that may take weeks or months to properly investigate, thoroughly edit and fact-check articles, and get our stories into the hands of readers.

Donate today and stand with us for a better future. Thank you for being a supporter of independent journalism.

Thank you for your generosity.

Ad Policy
x