The House debates the Shareholder Vote on Executive Compensation Act. The bill, introduced by Rep. Barney Frank (D-MA), will require that public companies ensure that shareholders have an annual nonbinding vote on their company's executive compensation plans. It also requires a nonbinding advisory vote if the company awards a new golden parachute package while simultaneously negotiating the purchase or sale of the company. Rep. David Scott addresses the merits of the bill.
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