Bloomberg (July 1)
Japan is the land of “bargain-basement CEOs.” Less than 300 people at Japan’s 3,813 listed companies reported earning more than the 100 million yen disclosure threshold. An average CEO in Japan earns $590,000 compared to $3.5 million in the U.S. This pay gap can be a “stumbling block” for Japanese companies going overseas. They may have to pay overseas workers more than their CEO. For example, the U.S. head of sales at Takeda Pharmaceutical earns twice as much as Takeda’s CEO.
The Economist (July 1)
Financial reform in the U.S. moved a step closer. The House of Representatives passed the 2,319-page Dodd-Frank Wall Street Reform and Consumer Protection Act. A vote in the Senate is expected later in July. Many are calling this legislation the biggest overhaul of the financial system since the 1930s. The Economist believes the act “does make progress,” though it “is an incomplete remedy.” That so much reform is nearly accomplished, however, shows the great motivation provided by the financial crisis.
Tags: Congress, Dodd-Frank Act, Financial Reform
