Recommended Reading - Proposal gives shareholders non-binding say on exec-pay, USA Today

The Obama administrations appears to be close to getting its proposal through Congress for a non-binding say over executive compensation in public companies. According to a story by Del Jones, for USA Today,

The Obama administration offered legislation Thursday that would require publicly traded companies to give shareholders a non-binding vote on the compensation of CEOs and other highly paid executives and to vote on exit packages, known as golden parachutes, at the time of a merger or acquisition.

It would appear the Obama administration is working hard to go right down the middle on this issue. While top executives from key associations are adamantly opposed to even non-binding resolutions on executive pay their counterparts such as corporate governance advocates and a number of institutional investors would prefer far greater teeth in the new proposal. At least this is a minor beginning.