WASHINGTON (AP) _ Some Democratic lawmakers are saying the Obama administration's approach to reducing executive compensation doesn't go far enough.
The administration rejects direct intervention in corporate pay decisions. Instead, it plans to seek legislation that would try to rein-in compensation at publicly traded companies through nonbinding shareholder votes. Congressman Brad Sherman wants to do more. Instead of giving shareholders a nonbinding voice on pay, he says, their votes should be binding on boards of directors.