House Says Yes To "Say On Pay"

Law360, New York (April 20, 2007, 12:00 AM EDT) -- The House of Representatives on Friday passed the contentious “say on pay” bill, which gives shareholders the chance to weigh in on decisions regarding executive compensation.

The Shareholder Vote on Executive Compensation Act passed the House by a 269 to 134 vote, just two days after President Bush expressed strong objections to the measure.

“This is a bill to further the workings of the capitalist system of the United States,” said Rep. Barney Frank (D-Mass.), who sponsored the legislation. “Now, people have suggested that Congress is...
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