August 11, 2009
Securities and Exchange Council
100 F St., NE
Washington, DC 20549
Dear Ms. Murphey
In my opinion, our government is not looking out for the best interests of our nation and seems to be seeking ways to destroy our economy, not build it up. The proposed changes in the rules regarding shareholder proxy access are a good example of this. If these revisions are allowed, it will likely cause financial troubles for the large publicly traded companies. These financial troubles will result in more problems for small businesses like mine. It is my hope that the Securities and Exchange Commission will do all it can to prevent these rule changes.
My little business is called the Martinsburg Granite Company. I have run this business with the help of my son since 1994. We provide cemetery monuments for our customers. Despite a very competitive market, which makes it impossible for us to make the profits we once did, we are somehow managing to keep the business afloat. Our main suppliers are the large quarry companies where the stones are cut. I hear from their workers about the financial struggles they are going through. If this rule change takes place, it will likely lead to greater inefficiencies in the operations of our stone suppliers, and that means higher costs for us.
Given the financial trouble we are already experiencing, higher costs are not something I look forward to. The likely result of this rule change is that small businesses will eventually be forced to close their doors. It is time for our government to stand up for small companies and realize that we are the backbone of this economy. If we are not able to succeed, our economy will never be able to recover.