While it is traditionally rare for employee-shareholders to exercise their voting power, the winds may be shifting. According to Morgenson, employee-shareholders are banding together to vote against executive pay in this proxy season. Although she is not sure what actual impact their votes had, at Citigroup, shareholders as a group voted down the $15 million paycheck for Vikram Pandit.
1. Based on Morgenson’s article, what employee-shareholder action is going on at Wal-Mart?
2. Based on Morgenson’s article, what employee-shareholder action is going on at Verizon?
3. What did you find to be the most interesting item in the article?
Morgenson, G. (2012). Employees, Too, Want a Say on the Boss’s Pay. The New York Times, April 21 (Retrievable online at http://www.nytimes.com/2012/04/22/business/employees-too-want-a-say-on-the-bosss-pay.html?_r=1&hp)