Thursday, April 19, 2007
Debate in the House on a Barney Frank-sponsored bill that would give shareholders a nonbinding vote on senior management's compensation as well as golden parachutes followed party lines and made the predictable arguments. While the bill is expected to pass the House, no comparable bill has been introduced in the Senate. The White House also issued a statement opposing it. See NYTimes, Democrats Seek Shareholder Voting on Executive Pay.