General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsSwiss Referendum to make CEO's pay no more than 12/1 might pass
Swiss support rises for reduced executive paySupporters of a drive to rein in executive pay in Switzerland stepped up their campaign on Thursday after polls put them neck and neck with opponents a month before a referendum.
Union decries Swiss corporate wage gap (24 Jun 13)
Unions seek higher pay in Labour Day marches (02 May 13)
Swiss massively back executive pay curbs (03 Mar 13)
Hoping to see the same kind of backlash that in March saw Swiss voters back a ban on golden handshakes in the business world, the left-wing campaigners behind the "1:12" initiative are working round the clock ahead of the November 24th plebiscite.
The 1:12 label refers to the ratio between the lowest and highest salaries in companies, which the referendum spearheaded by the youth wing of the Swiss Socialist Party would lay down in the law.
"We're going to pull out all the stops," David Roth, head of the youth wing, told AFP.
To hammer home their message, the campaigners have opted for guerrila marketing tactics in Switzerland's financial hub Zurich, projecting images onto the building of banking giant UBS.
http://www.thelocal.ch/20131024/swiss-backing-rises-for-reduced-exec-pay
US worker/ CEO ratio as compared to other nations
malaise
(269,011 posts)I hope they win
BelgianMadCow
(5,379 posts)In the regions, people can easily put forward a proposal, and it seems the same is true on a national level.
http://direct-democracy.geschichte-schweiz.ch/ - frequent referendums & the "popular initiative".
Also significant is the exception that the US is.
Thanks for keeping us posted. The basic income initiative is also getting some media attention over here.
Democracyinkind
(4,015 posts)Make no mistake, the initiative will be defeated, but I'm proud to say that my compatriots have finally woken up to the fact that the ballot box can be used for more than just minority bashing.
This is only one of several clever initiatives currently under debate that has the potential to completely change the direction this country has taken. Next year we'll vote on a population cap and after that we'll hopefully get to vote on a state-guaranteed minimal income, in addition to getting a vote on introducing a national minimum wage standard.
These developments tend to bring out the optimist even in such pessimistic folks like DiK.
liberal N proud
(60,334 posts)I might become a CEO someday and that law would stop me from stealing millions while my employees work for minimum wage.
BlueEye
(449 posts)at 50:1. You wouldn't expect that given their politics. Nevertheless, good luck to the Swiss, I think this would send a strong message to executives around the world.
Puzzledtraveller
(5,937 posts)between the "have a lots" and the "have very littles" in Venezuela. Most media reports hi light lower class citizenry and neighborhoods but I suspect their is an upper class that gets little attention as far as media is concerned. Just my impression.
Ichingcarpenter
(36,988 posts)but as far as Venezuela I don't know right now but the data is there.
Anyway the internet has opened this data to the world and beyond national borders which has raised Swiss consciousness enough to bring it to a vote as it has the world.
The problem with the internet is that information is global now and the insane wealth of international corporations are exposed for the world to see, discuss and act upon.
The 'national identity' fasade that the international corporate oligarchy pits between one nation against another to the masses is no longer working to conceal their unbridled greed that
kills and starves billions.
Any large corporation doesn't give a shit about
their country of orgin, be it banks..JP morgan, technology...apple or microsoft Oil companies...Chevron, BP.... Food .Monsanto, McDonalds
and even car manufacturers....such as Gm have enough wealth to corrupt the system.
Until you break them up
or nationalize them..... its a joke
groundloop
(11,519 posts)Dooming Switzerland to extinction.
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Puzzledtraveller
(5,937 posts)if you are a CEO or a similarly high paid executive that attract and keep those people. Probably when you look at overall benefits, those guaranteed by law and by the contracts these people have it more than makes up for the pay that you see in places where it's unregulated, cough, cough, US.
Laelth
(32,017 posts)Such a law wouldn't stand up to Constitutional muster because we have a string of SCOTUS cases that say money=speech. We need the SCOTUS to overturn those cases, but until it does, CEO pay is protected as speech.
As always, out 1st Amendment is both a blessing and a curse.
-Laelth
caraher
(6,278 posts)If we had such a law here I think we'd see a huge growth in temp agency employment, as companies split to shed the lowest-paid workers from their official payrolls.
I'm not sure exactly how one would legislate against that, and I don't think tying a cap to, say, minimum wage would fly. (Well, not that the proposal would be politically viable in the US at all...)