July 28, 2010
To whom it may concern:
I am a retail shareholder who manages my own portfolios My comments on the US Proxy system come from this vantage point.
I believe the US Proxy system utilized by publicly-held corporations is largely ineffective. The information provided in the individual proxy statemments does not give the average person enough information to make an informed decision. In addition, the amount of shares held by retail investors is generally immaterial to the vote itself, giving little significance to the vote cast. However, I do not believe that higher significance should be put on retail shareholders or anything of that nature, especially since the knowledge held by these individuals may not suffice to make decisions about these corporations that they generally know little about and whose day-to-day interworkings they are clueless about.
My suggestions for improving the US Proxy System are as follows:
1. Make the actual meetings held available live for all shareholders via the internet.
2. Provide interviews and analysis put together by the potential board members or other voting matters so people can make a more informed decsion.
3. Provide alternative, more high tech ways to deliver a proxy, or give an individual the option to opt-out of receiving the information.
Thank you for your time.