Many states already have laws regarding this activity in absence of any setforth policies by a corporation.
In essence, this is nothing earth shattering or new. In fact, what would happen is the shareholders would delegate this to a committee or back to the BoD.
I just wish that people would read the article and not just the misleading headline, before spouting off.
However, If you get NObama elected. I can assure you there will be pressure to regulate corporations. In Fact, NObama wants to levy taxes on corporations doing business in the US, not just those companies who are located here.
Yup, many states do this, many corporations already have such policies, and as I posted above, any shareholder can enter it as a warrant item at annual meeting.
McCain is proposing Federal action to make this happen across the board, I read the article. If the President says he will change something, he won’t call GE and ask them to change. He’ll support a bill making that change from the fed level downward, or have someone he appointed in SEC write new regulations.
He’s proposing new regulations on corporations, in the area of compensation, by requiring shareholder review. He’d make shareholder review mandatory, instead of voluntary as it is now (with some states, it’s required now).