House Approves "Say on Pay"

In a positive move for investors, the U.S. House of Representatives approved a bill, which would allow investors to vote on compensation packages for top company executives.  With the exorbitance of executive pay a hot topic recently, many expected that this bill would indeed become law.  The problem is that the say on pay votes are non-binding, which means that board members have the ability to ignore shareholder wishes.  At the very least however, the hope is that the "say on pay" bill will force companies to think twice when creating executive compensation packages.