Swiss to Vote on CEO Pay Limits in Constitution

Disseminated via a local Green mailing list —

Here’s an idea for how to end corporate greed and reverse the trend of growing income inequality worldwide: impose a new rule that would limit the pay of top executives to just 12 times that of the lowest-paid employees at the same firm. In other words, prevent CEOs from earning more in one month than the lowliest shop-floor worker earns in a year.

This proposal might sound like something cooked up by OCCUPY WALL STREET or another radical protest movement, but in fact it comes from the heartland of a nation not usually known for its disdain of money-making: Switzerland. On Nov. 24, the Swiss will vote in a referendum on whether to enshrine the 1:12 pay ratio — in their national constitution, no less.

SOURCE: Reuters

NOTE: The Referendum resulted in a 2/3 vote AGAINST the pay limitation. A massive Corporateer advertising blitz threatened an economic collapse in the event of the adoption of the measure.

 

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