UBS loses favour with angry Swiss

Staff Writer BBC

Using Switzerland's system of direct democracy, he has collected the required 100,000 signatures to hold a nationwide referendum to end, as he puts it, "the corporate rip off."

His proposal would forbid golden handshakes, bonuses would be performance related, and excessive salaries banned.

Perhaps luckily for Swiss business leaders, it will be a year or so before this goes to the vote - because given the current national mood, if the polling stations opened tomorrow, Mr Minder's idea would be a shoo in.

In the meantime though, UBS's piratical top brass have another ordeal to face - Thursday's extraordinary shareholders' meeting - and this time those mild mannered pensioners may have included some crocodiles in their pockets, along with the sausages.

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