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Mutual Funds and Overpaid CEOs

Posted By AFSCME On October 28, 2009 @ 5:50 pm In Pension Security, Retirement Security | Comments Disabled

CNBC’s “Street Signs” host Erin Burnett says the numbers take her breath away: mutual funds consistently vote in favor of management proposals that increase executive pay — 84% of the time in 2008 — and against shareholder efforts to bring compensation in line with performance. Those numbers are from a recent report from The Corporate Library and AFSCME [1] exposing funds’ complicity in runaway CEO pay.

On Monday, Richard Ferlauto, AFSCME’s director of corporate governance and pension investment, appeared on “Street Signs” [2] to discuss the worst “pay enablers” that just aren’t serving the best interests of most individual investors:


Learn more about this and other issues by checking out the AFSCME-supported shareholder online resources at ShareOwners.org [3].

Article printed from Greenline: The AFSCME Blog: http://www.afscmeblog.org

URL to article: http://www.afscmeblog.org/2009/10/28/mutual-funds-and-overpaid-ceos/

URLs in this post:

[1] recent report from The Corporate Library and AFSCME: http://www.afscme.org/press/25873.cfm

[2] appeared on “Street Signs”: http://www.cnbc.com/id/15840232?video=1308506500

[3] ShareOwners.org: http://ShareOwners.org