Investor "Say on Pay" Is a Bust - BusinessWeek

 Investor "Say on Pay" Is a Bust - BusinessWeek, 6/17/2011

This was supposed to be the year when shareholders at public companies finally had their say about executive pay. As a result of the passage of the Dodd-Frank Act last July, shareholders for the first time can cast proxy votes on top executives' compensation. Median pay of chief executives jumped 35 percent, to $8.4 million, for Standard & Poor's 500 CEOs in 2010. So shareholders' say-on-pay votes, although only advisory, were expected to widely challenge companies where compensation didn't reflect performance or were out of line with those at competitors.

But shareholder votes rejected executive pay at less than 2 percent of public companies this year ...

Read more by clicking on the article link in the title above.