February 6, 2013
It seems like everyone, including the SEC, seems to have forgotten that the shareholders are the true owners of a publicly traded corporation. With that in mind, it's long past time to end unapproved and secret political spending by publicly traded corporations.
It must become an SEC rule that if a publicly traded corporation wants to donate money to a political candidate, a political party or a political action committee, such donations can only be made after an affirmative vote by the shareholders, the owners, of that publicly traded corporation.
I also strongly support, in conjunction with a shareholder voting requirement that the SEC issue a rule in the near future which would require publicly traded corporations, after an affirmative vote and a donation is made, to publicly disclose their spending on all such approved political activities.
Shareholders, owners, deserve the right to decide if and how their company’s resources and profits are to be spent in the political arena and the public deserves to know how much a given corporation spends on politics (both directly and through intermediaries), and which candidates, parties and political action committees are being either promoted or attacked.
As a shareholder in a number of publicly traded corporations over the last thirty-five years I thank you for considering my comments.