Should shareholders have a say on pay? Yes.(Other Views: Point/)

Investment News, May, 2007

Byline: Nell Minow I am a passionate capitalist. It infuriates me when people impose obstructions to the effective and efficient working of the marketplace to divert unearned benefits to themselves. Like the overwhelming majority of members of Congress, I support the modest legislative proposal by Rep.

Barney Frank, D-Mass., to give shareholders a non-binding advisory vote on executive compensation because I believe it is a balanced, non-disruptive mechanism for reducing one of the most troubling and corrosive obstacles to the efficient operation of the market. There are only five categories of individuals who are in the stratosphere of pay: athletes, movie stars, rock stars, Wall Street types like investment bankers and hedge fund managers, and...