Bill to Oversee Executive Pay Is Introduced:...

Bill to Oversee Executive Pay Is Introduced: Salaries of top executives are “spiraling out of control,” Sen. Carl Levin (D-Mich.) said as he introduced legislation to give shareholders a bigger voice in setting the pay of company officers. The bill would allow stockholder votes on salaries and other compensation of chief executives and directors. Graef Crystal, an expert on executive compensation, testified last month that the average chief executive at a U.S. corporation receives 110 times the pay of the average worker. By comparison, the top executive at a Japanese corporation earns about 17 times the pay of an average Japanese worker.