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Fed's Say On Pay
CEO pay reform remains a key element of the federal government’s financial reform agenda. The Federal Reserve recently announced that the agency will police banks’ pay policies to ensure they do not encourage excessive risk taking. The House of Representatives has passed legislation to give investors a say on pay and the Senate is considering such a move.
At the same time some companies have volunteered to give their owners a voice on compensation. Microsoft, Apple, Intel, Hewlett-Packard and Tech Data are among the 26 companies that have voluntarily agreed to give their shareholders a vote on pay. And nearly 300 financial firms that received TARP funds have held say on pay votes this year.
Richard Ferlauto, director of corporate governance and pension investment at AFSCME, appeared on CNBC’s “Street Signs” to discuss the need for long-term, performance-based and reasonable pay for CEOs:
Add your voice for pay reform by sending a message to your senators urging them to support a shareholder say on pay. Learn more about this and other issues by checking out the AFSCME-supported shareholder online resources at Shareowners.org.
Reprinted from Greenline: The AFSCME Blog.
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