Swiss Voters Reject Attempt To Limit Executive Pay

The initiative would have meant that an executive could never earn more money in a month than what the lowest-paid employee earns in a year. Sixty-five percent of voters came out against the measure.

DAVID GREENE, HOST:

NPR's business news starts with no salary cap for Swiss executives.

(SOUNDBITE OF MUSIC)

GREENE: A proposal in Switzerland to limit executive pay has been rejected by voters there. As we reported on the program last week, the initiative would have meant that an executive could never earn more money in a month than what the lowest-paid employee earns in a year.

That initiative failed; 65 percent of voters rejected it. But analysts point out that in a corporate-friendly nation like Switzerland, the fact that the vote was held at all is significant.

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