Switzerland Votes on CEO Pay Cap
By lucas@endneoliberalism On 12 Nov, 2013 At 02:09 PM | Categorized As Progressive Politics | With 0 Comments

7378209888_f161707ab6On November 24 the Swiss people will vote on Initiative 1:12 to limit CEO pay to only 12 times that of the lowest paid employee, Business Insider reports.

This move has executives worried and corporations such as Nestle, Novartis, and Bobst sent letters to their employees to impose that Initiative 1:12 is bad for business. As End Neoliberalism exposes on Occupy The Market, Bilbao’s Mondragon Cooperative Corporation pays executives only 5 times as much as the lowest paid employee and earns $20 billion in revenue. MCC has been in business since 1956. A cap on CEO pay is just bad for CEO’s.

End Neoliberalism. Tax & Regulate The One Percent.

Picture credit: Nicholas Raymond CC BY 2.0

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