BBC: Executive pay '180 times average', report finds

[grahamhgreen]

The High Pay Centre, a think tank, said shareholders were still backing high executive pay deals despite new powers to vote them down at annual meetings.

The pay of the average FTSE 100 chief executive increased from £4.1m to £4.7m last year, said the report.

The government should take action to close the pay gap, it

said.

In October, new rules came into effect forcing listed firms to give shareholders a binding vote on directors' pay.

Executive 'elite'

A firm's remuneration policy now requires the approval of more than 50% of shareholders for a policy to pass.

Business Secretary Vince Cable introduced the shift to make a "clearer link between pay and performance".

The High Pay Centre's report says that, without further action, trust in business will be damaged by the perception that an executive "elite" is reaping all the rewards from economic growth.

http://m.bbc.com/news/28286264

[Pholus]

1. Yikes, they're behind then. I think the goal is 1000 times.... nt

[grahamhgreen]

2. ... Or slavery:)

[Uncle Joe]

3. Those slackers, the good old USA has 400+ times up from the high 20s in the late 80s.

If you're going to follow us down the path to Perdition, hurry the hell up, misery loves company, we can all burn together.

Thanks for the thread, grahamhgreen.