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...Most companies, not surprisingly, aren't so amenable to the idea. The core argument against the movement is that CEOs get paid a market rate and say-on-pay votes undermine the very nature of corporate governance - a board of directors charged with luring and keeping the best talent. In the rebuttal statements to say-for-pay proposals found in their annual proxies, companies lay out all sorts of counter-arguments. IBM says there's no way that shareholders can know what's an appropriate pay practice since they're not privy to competitive information like which executives are receiving...
...Perhaps the savviest argument companies make is that there are mixed results about what, exactly, say-on-pay votes accomplish. In the U.K. there have been some resounding successes - most notably GlaxoSmithKline, which revamped its pay practices, aligning compensation with performance, after a "no" vote of 50.7% in 2003. (Its CEO at the time was on track to earn about $18 million.) Yet various studies have shown that in the years since say-on-pay went into effect, CEO compensation has continued to rise, anywhere between 5% and 11% annually...
...Amos knows something about talking to investors. The Aflac CEO was stunned a year and a half ago when he found out that a shareholder had submitted a proposal for a say-on-pay vote at his company. "My first inclination was, What have we done wrong?" he says. As it turns out, nothing. When he talked to the people at Boston Common Asset Management they said a vote was simply in the general interest of shareholders. Amos then went to the insurance company's largest shareholders and asked what they thought. He wasn't expecting large, fairly conservative mutual...
...last October's election can be partly ascribed to the relatively competent impression he makes. But Tusk's success also represents Poland's growing acceptance of free-market ideas. In 1993, an economically liberal forerunner to the party that Tusk co-founded in 2001 drew just 4% of the vote amid criticism that it was insensitive to the poor. In October, Tusk's Civic Platform, running on similar ideas, got 42%. (Since the election, support has climbed further to 60%.) In a recent survey, moreover, 42% of Poles identified themselves as being on the right in terms of their economic...
...help places like Radecznica. Tusk acknowledges as much. His party doesn't promote the liberal label and has tried to show a social conscience. During the past election, for example, unsanctioned text messages urged young voters to "hide your grandma's ID" (so that she couldn't vote PIS). The Civic Platform countered with a message that voters should bring Grandma along to the voting booth and explain to her that her future, too, depends on growth...