[Brilliant]

It looks like this is a nonbinding vote, but we really need to put the shareholders back in control of corporate America. If this pay is justified, then it's the shareholders who should determine that. The reason executive pay is so high to begin with is that management really controls it, not the shareholders. It's not determined by the market. Management is basically stealing from the shareholders.

[MplsSteve]

I agree.

I work in the securities industry and have a lot of experience in corporate governance and proxy issues.

It is high time that shareholders start taking a better look at the annual reports they get in the mail.

To some degree, the deck is stacked against most shareholders. It's hard to get a proposal on the proxy ballot - as evidenced by the article you posted. Voting tabulation procedures (as established by the SEC) favor the corporation over the shareholder. Many corporations set up staggered elections for their boards of directors to prevent shareholders from exercising their pique.

Sooner or later, the shareholders will need to stand up - or the federal govt will do it for them.

And I definitely don't want Ted Kennedy or Nancy Pelosi making those decisions.