When I was your age,” the Queen said to Alice in Wonderland, “sometimes I believed as many as six impossible things before breakfast!” Corporate governance may not be quite so radical, but by late next year the United States may well see two things happen that most boardrooms today consider impossible.
First, Congress likely will pass ‘say on pay’ legislation to give shareholders advisory votes on executive compensation, possibly as part of a broader set of sub-prime scandal market regulation reforms. And we can now forecast that whoever is elected president will sign it into law.
The presumptive Democrat nominee, ...