Another Republican vote against Democracy
A reader alerts us to a fine DragonFlyEye post about a corporate governance bill vote from last week:
I’m sure that someone else around these parts already caught wind of this, but just in case you missed it, an important vote on corporate governance was held last Friday. The bill allows shareholders in a company some say in the compensation paid to the CEO of said company. Certainly, this seems a sensible proposition: if the shareholders are happy, everybody wins, right?
Well, you might want to call a few of our Republican representatives and ask them why they disagree. Both Randy Kuhl and Tom Reynolds voted in the minority to attempt to strike down this bill.
MyDD has more.
This afternoon the House of Representatives held an important vote on legislation that would, for the first time, allow shareholders of corporations to at least have a say in the salaries given to executives. While the legislation did not give shareholders veto power, the power to make a statement of approval or disapprobation could go a long way towards reining in excessive CEO pay — particularly in cases in which corporations are hemorrhaging money but executives still receive fat paychecks and ridiculous bonuses.
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Maybe good ol’ Randy can explain this to us during his next round of Town Meetings–then again maybe he won’t, because he just wants to hear from us.