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Bobby Jindal on Corporations

Republican Governor; previously Representative (LA-1)


Voted YES on allowing stockholder voting on executive compensation.

To amend the Securities Exchange Act of 1934 to provide shareholders with an advisory vote on executive compensation [and as part of that process, fully disclosing executive compensation].

Proponents support voting YES because:

We should not deprive the public, the stockholders, from being able to do anything meaningful once they find out about scandalous levels of executive compensation or board compensation. Everyone talks about the corporate board as the remedy. But the board is often a part of the problem, being paid huge amounts of money for showing up once or twice a year at meetings.

Give the stockholders a meaningful remedy. Once you get the mandatory disclosure put in place by previous legislation, we are saying the stockholders should be allowed to have a referendum on that and not have a runaround by the board.

Opponents support voting NO because:

This vote is based on mischaracterization--it is an unnecessary amendment. The opportunity for these kinds of votes already exists within the structure of corporate governance right now. A good company from Georgia, AFLAC, went ahead and already has these nonbinding shareholder votes. But there is a difference between having individuals in the private sector, shareholders and individuals outside of the mandating of government to have it occur and have government come in with its heavy hand and say, this is exactly what you need to do because we know best. Our constituents know better how to act and how to relate to corporations than Washington.

Reference: Shareholder Vote on Executive Compensation Act; Bill H R 1257 ; vote number 2007-244 on Apr 20, 2007

2012 Governor, House and Senate candidates on Corporations: Bobby Jindal on other issues:

LA Senatorial:
David Vitter
Mary Landrieu

Retiring to run for other office:

Running for Mayor:
CA-51:Bob Filner(D)

Running for Governor:
IN-6:Mike Pence(R)
WA-1:Jay Inslee(D)

Running for Senate:
AZ-6:Jeff Flake(R)
CT-5:Chris Murphy(R)
FL-14:Connie Mack(R)
HI-2:Mazie Hirono(D)
IN-2:Joe Donnelly(D)
MO-2:Todd Akin(R)
MT-0:Dennis Rehberg(R)
ND-0:Rick Berg(D)
NM-1:Martin Heinrich(D)
NV-1:Shelley Berkley(D)
WI-2:Tammy Baldwin(D)
2011-2012 Special Elections:
AZ-8:Gabby Giffords(D)
CA-36:Jane Harman(D)
CA-36:Janice Hahn(D)
NV-2:Dean Heller(R)
NV-2:Mark Amodei(R)
NY-9:Anthony Weiner(D)
NY-9:Bob Turner(R)
NY-26:Chris Lee(R)
NY-26:Kathleen Hochul(D)
OR-1:David Wu(D)
OR-1:Suzanne Bonamici(D)

Retiring 2012:
AR-4:Mike Ross(D)
AZ-8:Gabby Giffords(D)
CA-2:Wally Herger(R)
CA-6:Lynn Woolsey(D)
CA-18:Elton Gallegly(R)
CA-24:Dennis Cardoza(D)
CA-41:Jerry Lewis(R)
IL-12:Jerry Costello(D)
IN-5:Dan Burton(R)
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MA-4:Barney Frank(D)
MI-5:Dale Kildee(D)
NC-11:Heath Shuler(D)
NC-13:Brad Miller(D)
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OH-7:Steve Austria(R)
OK-2:Dan Boren(D)
PA-19:Todd Platts(R)
TX-14:Ron Paul(R)
TX-20:Charles Gonzalez(D)
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Page last updated: Mar 14, 2012