August 14, 2009
Dear Ms. Murphy,
As an independent contractor, I provide customer service and secretarial services for a variety of clients. This is my only source of income, and I have worked hard to build my business and become profitable. Therefore, I would hate for government interference to make it impossible for my business to prosper. Unfortunately, that is the likely result if the proposed shareholder proxy access rule change is passed.
With so many businesses closing their doors these days, I am thankful that my business is still going strong. My business is small and may seem inconsequential to most, but it has provided me with a steady income and allows me to be home with my children. Although I work alone, I depend on several large corporations for the supplies that I need for my business to run smoothly, such as computers and other office machines. As these large corporations suffer from the ramifications of the proposed rule change, it is extremely likely that they will have to increase their prices. For a small, home based business like mine, higher prices for essential supplies and equipment will be devastating. In this economic climate, I am not sure my business could survive if this rule change is approved. Many other small businesses will likely be in the same situation.
While I realize that the proposed shareholder proxy access rule change will not directly affect my small business, the damage it will cause will undoubtedly trickle down to many small businesses, mine included. Especially right now, we cannot afford this type of change. There is too much to lose if this rule change happens, and our economy cannot take many more blows.