Overpaid CEOs Are Being Supported by Mutual Funds

Mutual funds rarely vote against executive pay plans for the companies in which they hold shares.

Some of the largest mutual fund companies, like BlackRock and Vanguard, supported proposed executive pay plans 97% of the time last year, according to a new report by the advocacy group As You Sow. Berkshire Hathaway only holds seven companies, but it approved 100% of executive pay plans last year, the report said.