{"id":186661,"date":"2013-11-25T21:16:00","date_gmt":"2013-11-26T02:16:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2013\/11\/25\/bummer-5\/"},"modified":"2013-11-25T21:16:00","modified_gmt":"2013-11-26T02:16:00","slug":"bummer-5","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2013\/11\/25\/bummer-5\/","title":{"rendered":"Bummer"},"content":{"rendered":"<div style=\"border: 1px solid black; float: right; margin: 0px 10px; padding: 5px; text-align: center; width: 380px;\"><a href=\"http:\/\/i.imgur.com\/jWqq1I7.png\"><img decoding=\"async\" border=\"0\" bordercolor=\"white\" src=\"http:\/\/i.imgur.com\/jWqq1I7.png\" width=\"370\" \/><\/a><br \/><i>Here are the <a href=\"http:\/\/www.epi.org\/publication\/the-ceo-to-worker-compensation-ratio-in-2012-of-273\/\">historical US numbers<\/a> through the years<\/i><\/div>\n<p>The proposed regulations on CEO pay were <a href=\"http:\/\/www.bloomberg.com\/news\/2013-11-24\/swiss-voters-reject-strictest-executive-pay-limits.html\">defeated by referendum<\/a>:<\/p>\n<blockquote><p><span style=\"color: blue;\">Swiss voters rejected a proposal to limit executives\u2019 pay to 12 times that of junior employees yesterday, a measure that would have gone further than any other developed nation.<\/span><br \/><span style=\"color: blue;\"><br \/><\/span> <span style=\"color: blue;\">The measure was opposed by 65 percent of voters, the government in Bern said yesterday. Polls, including one by consulting firm gfs.bern, had signaled that outcome as probable. Voter turnout was 53 percent, the highest in three years.<\/span><br \/><span style=\"color: blue;\"><br \/><\/span> <span style=\"color: blue;\">\u201cIt\u2019s a big relief,\u201d Valentin Vogt, president of the Swiss Employers\u2019 Association, said in an interview on Swiss national television SRF. \u201cIt\u2019s a signal that it\u2019s not up to the state to have a say in pay.\u201d<\/span><br \/><span style=\"color: blue;\"><br \/><\/span> <span style=\"color: blue;\">Switzerland is the home to at least five of Europe\u2019s 20 best-paid chief executive officers. Opposition to excessive pay has stiffened among the traditionally pro-business Swiss following the government bailout of UBS AG (UBSN), Switzerland\u2019s biggest bank, in 2008 and a plan &#8212; later scrapped &#8212; by Novartis AG (NOVN) to pay outgoing Chairman Daniel Vasella as much as $78 million.<\/span><br \/><span style=\"color: blue;\"><br \/><\/span> <span style=\"color: blue;\">In March, Swiss voters approved the so-called fat-cat initiative that gave company shareholders a binding vote on managers\u2019 pay and blocked golden handshakes and severance packages. <\/span><\/p><\/blockquote>\n<p>The problem here is that you need to get a foot in the door.<\/p>\n<p>If they you had made it 100x, or 500x, it probably have won, but 12x seems to be too restrictive, even to a rabid liberal like me.<\/p>\n<p>After all, depending on how you count, the ratio of the <b>average<\/b> worker to a CEO was <a href=\"http:\/\/www.epi.org\/publication\/ib331-ceo-pay-top-1-percent\/\">between 18.3-20.1:1<\/a>, so the ratio to <b>lowest paid<\/b> was probably in the range of 40:1.&nbsp; <\/p>\n<p>Note that the $78 million parachute divided by 100 is still more than $\u00be million, so the most extreme examples would be shut down, and we would stop seeing the CEO dick swinging over obscene pay packages.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Here are the historical US numbers through the years The proposed regulations on CEO pay were defeated by referendum: Swiss voters rejected a proposal to limit executives\u2019 pay to 12 times that of junior employees yesterday, a measure that would have gone further than any other developed nation. The measure was opposed by 65 percent &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1000,975,984,985],"tags":[],"class_list":["post-186661","post","type-post","status-publish","format-standard","hentry","category-elections","category-employment","category-europe","category-regulation"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/186661"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=186661"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/186661\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=186661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=186661"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=186661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}