by John McCormick, updated
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FISHERS, Ind. — Sen. Barack Obama is expected to meet with reporters later this morning to make his case for legislation that would require corporations to hold non-binding shareholder votes on compensation packages offered to executives.
The Illinois Democrat spoke about the issue on Thursday while campaigning in northwest Indiana. He is citing a new USA Today study that found the median compensation for the nation’s top 50 CEOs to be $15.7 million, despite economic struggles by their companies.
Obama’s remarks on the topic, as prepared for delivery, are below the jump.
McCain spokesman Tucker Bounds responded: “Once again, Senator Obama’s words don’t match his actions. Apparently Senator Obama thinks cheap political attacks and typical Washington shenanigans substitute for real leadership. Corporate boards have the power to serve shareholders and make CEO pay match performance. John McCain believes cozy relationships with boards should not allow irresponsible CEOs to rake in millions on the backs of small investors. John McCain is committed to using the bully pulpit of the presidency to hold them accountable.”