"Of the top 100 Swiss companies, 49 give shareholders a consulting vote on the pay of executives. A few other countries, including the United States and Germany, have introduced advisory "say on pay" votes in response to the anger over inequality and corporate excess that drove the Occupy Wall Street movement. Britain is also planning to implement rules in late 2013 that will give shareholders a binding vote on pay and "exit payments" at least every three years. Minder's initiative goes further
, forcing all listed companies to have binding votes on compensation for company managers and directors, and ban golden handshakes and parachutes. It would also ban bonus payments to managers if their companies are taken over, and impose severe penalties — including possible jail sentences and fines — for breaches of these new rules."
posted by vidur
on Jan 21, 2013 -
Second Great Depression? We should be so lucky.
Or so Dmitry Orlov says. Orlov, an engineer who watched the collapse of the Soviet Union, argues that the United States is well into a similar process of collapse. In Orlov's model, collapse is divided into five stages: financial, commercial, political, social and cultural. The first one is currently happening, and the next two are guaranteed to follow; as for cultural collapse, that happened a long time ago, but people were to narcotised by consumerism to notice. And things look set to get very, very dire indeed, with runaway hyperinflation, shortages, the breakdown of political institutions, the fragmentation of the US, and, if the "social collapse" stage is reached, roaming gangs and ethnic cleansing.
posted by acb
on Dec 3, 2008 -