Passage of a financial bailout with flimsy constraints on executive compensation has invigorated the public and policymakers alike to take action to curb excessive executive pay. Just this morning, Senator Chris Dodd warned that Congress might take a step that would send shivers down the spines of every CEO: federal caps on executive pay.
But another tool to limit executives' pay is also gathering legislative strength. "Say on pay" provisions grant shareholders a vote -- often nonbinding -- on executive...
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