Wednesday, November 13, 2013

SWISS TO VOTE ON TOP PEOPLE'S PAY


On 24 November 2013, the Swiss will vote on top people's pay.

In the referendum, voters will vote for or against the idea of limiting executive pay to 12 times the level of the lowest-paid employee.

Switzerland

In 1998, top salaries at the largest Swiss companies stood at 14 times those of the lowest-paid workers.

In 2011, top salaries at the largest Swiss companies stood at 93 times those of the lowest-paid workers.

You may think it reasonable that no one in a company should get more in one month than the lowest-paid employee makes in a year.



The top people in Switzerland are urging voters to reject the 1:12  initiative for fear it could make it hard for companies to recruit top crooks as managers.

In March 2013, Swiss voters overwhelmingly approved the Rip-Off Initiative which gives shareholders binding votes on executive pay and bans the payment of signing-on and golden handshake payments.

Polls indicate that the Swiss voters will be conned into rejecting the 1:12 initiative.

Public support for 1:12 pay cap appears to wane - SwissInfo



Anonymous said...

Let's try it the other way around. 

Rather than tell the managers of corporations how little they may earn we instead tell them that they may pay themselves as much as they like, with the caveat that they must then in turn pay their lowliest employee one twelfth of that amount.

What's unfair about that?

As for market forces and the old we-have-to-pay-huge-salaries-otherwise-we'd-get-crap-executives chestnut, didn't that one die in the arse when we had every bank executive who ruined the economy pay themselves fatbonuses?

Honestly, is there any evidence of a link between competency and remuneration?

Who were the executives responsible for shipping the US's entire manufacturing base to China and India and ruining the country's economy? Who fucked Greece, and Ireland, and Italy, and Iceland, and Portugal, and Spain? Were they executives who'd tell you that they have to be paid big salaries otherwise incompetents would ruin everything?

This is 'tiger amulet' logic. Wear it and you'll never get attacked by tigers. And if you do happen to get attacked, you can console yourself with the knowledge of how much worse if would have been had you not worn it.

4 comments:

Anonymous said...

it doesn't make sense, that the government should tell the owner of a private company, how much he could retain for his salary, the market and the ability of the workforce to change employer should correct disparities. The enforcement of this proposed regulation would be extremely difficult, in many instances managers would take up residency abroad. This kind of legislation smacks of people like Richard D Wolff, who want to destroy the little remaining market system in western societies for advancing NWO, this hand in hand with his "brothers" on Wall St. So far "for the good news.."
Bad news: starting january 1st, 2014, Swiss government will slash another CHF 7+ per 100 litre heating oil, under the pretext of the CO2 fairy tale... we never had a chance to vote down that nonsense..
Caveman

Anonymous said...

Venezuela: CIA and U.S. Defense Intelligence Agency Calling for Armed Clashes, Bloodshed to Justify Military Intervention

http://www.globalresearch.ca/venezuela-cia-and-u-s-defense-intelligence-agency-calling-for-armed-clashes-bloodshed-to-justify-military-intervention/5357989

Anonymous said...

Let's try it the other way around. Rather than tell the managers of corporations how little they may earn we instead tell them that they may pay themselves as much as they like, with the caveat that they must then in turn pay their lowliest employee one twelth of that amount.

What's unfair about that?

As for market forces and the old we-have-to-pay-huge-salaries-otherwise-we'd-get-crap-executives chestnut, didn't that one die in the arse when we had every bank executive who ruined the economy pay themselves fat bonuses?

Honestly, is there any evidence of a link between competency and remuneration?

Who were the executives responsible for shipping the US's entire manufacturing base to China and India and ruining the country's economy? Who fucked Greece, and Ireland, and Italy, and Iceland, and Portugal, and Spain? Were they executives who'd tell you that they have to be paid big salaries otherwise incompetents would ruin everything?

This is 'tiger amulet' logic. Wear it and you'll never get attacked by tigers. And if you do happen to get attacked, you can console yourself with the knowledge of how much worse if would have been had you not worn it.

It just so happens I have a small number of genuine tiger amulets for sale, hand-made by the last certified Igbo shaman in 1906 and I'm prepared to part with what few I have for $5 million dollars each.

Avoid cheap imitations. These are the genuine article and guaranteed to protect you from tiger attacks.*

Be sure to order yours while stocks last,

yours aye etc. etc.





*Not licensed for use in India, Bangladesh, Bhutan, Cambodia, China, Indonesia, Laos, Malaysia, Myanmar, Nepal, Russia, Thailand, or Vietnam.

Anon said...

I am going to add the bit about the tiger amulets to the text.

- Aangirfan

 
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