Executive Compensation Cap Rejected By Swiss Voters

Swiss voters have shot down a proposal to cap salaries for executives, with more than 65 percent of the country voting against the measure that detractors said would result in some companies leaving and in a loss of jobs.  The initiative would have capped executive salaries at 12 times that of the lowest-paid employee. Support for the proposal was great enough to have gotten the 100,000 signatures it took to put it on the ballot, but in the end it was rejected by the majority of voters and did not win even one of the country’s 26 districts.