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EXECUTIVE WATCH GlobeSt.com:
BY ANTHONY J. LOPINTO
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| Executive Watch
is a weekly column featured on GlobeSt.com, the leading online real estate
news site. Tony LoPinto, CEO of Equinox Partners, is the
author of this widely read column.
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"Say-on-Pay"
By Anthony J. LoPinto
April 15, 2008
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If you haven't heard the term Say-on-Pay, you will soon. Clinton, Obama and now McCain are all supporting a Say-on-Pay Senate bill that would require public companies to give shareholders an annual non-binding vote on top officers' compensation. The candidates have been stumping hard on this issue. A Wall Street Journal story this weekend reported that the Obama campaign recently ran a TV commercial in 14 states that assails chief executives "who are making more in 10 minutes than ordinary workers are making in a year." Sure, I have commented recently on the excessive severance payments given to failed executives, but I am concerned that the current hype may result in Washington's intrusion into the realm of corporate boards. Sarbanes-Oxley has done a fine job focusing boards on their oversight responsibilities, including the issue of compensation. Let's allow the new controls to work, and they will.
© 2008 - GlobeSt.com, all rights reserved.
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