re: Swiss voters reject minimum wage

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Something will be done soon, even if it's a lower minimum wage. This is their third referendum on pay in 18 months and they're worried about the growing income inequality.

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The proposals were conceived by Thomas Minder, who launched a campaign in 2008 following significant losses at UBS, which were blamed on a bonus culture leading to excessive risk-taking by managers.[3] They would amend legislation to:[7]

require an annual vote by shareholders for the president and other members of the management board of directors, members of the remuneration committee, and any advisory board and executive officers of the organisation.
require the articles of association to include bonus schemes and pay plans for directors and executive officers, any loans granted to such employees, the number of mandates outside the organisation, and the duration of employment contracts of executive officers.
ban advance and severance packages.
ban corporate proxy and the representation of shareholders by depository banks.
require pension funds to disclose the way it votes, and to vote in the interests of pension policyholders.
Polls in January 2013 suggested that a majority was in favour of the proposals,[3] although they were opposed by the Economiesuisse business lobby and the Swiss government.[3][8] Supporters of the initiative spent 200,000 Swiss Francs, while opponents spent 8 million Swiss Francs in their campaign to block reform

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limiting the highest salary in a company to twelve times the lowest salary

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