That's a very interesting development, it brings in to question the whole free market system and whether or not pay restrictions have any effect at all on productivity. If so, then they're shooting themselves in the foot...kind of like, OBAMACARE! ;-)
---In FairfieldLife@yahoogroups.com, <s3raphita@...> wrote: From Telegraph: Early results suggest Swiss voters are saying "no" to a proposal to bring in a law that would limit executive pay to 12 times that of the lowest paid. There are many more votes still to count, but it is clear the initiative cannot pass now. The new rules would have given Switzerland the world's toughest pay rules and some of the lowest executive salaries - which business leaders said would limit foreign investment. It is the second time this year that Swiss voters have been balloted on the issue. In March they did back strict limits on bonuses and golden handshakes. There has been widespread public anger at revelations that some of Switzerland's chief executives are earning more than 200 times what their employees take home. Some Swiss have been further irritated that these high levels of pay are being given to executives whose firms have been cutting jobs. Although this proposal may have been defeated, the issue of high salaries and a widening wage gap has not gone away. Early next year, Switzerland will hold another referendum on a guaranteed minimum wage.
