From: Mrs. Elizabeth Downey
Dear U.S. Securities and Exchange Commission:
It is unbelievable to me that you would consider taking away my rights as a shareholder to influence the companies in which I have invested. Part of what makes my investment feel safe to me is that I have the option to vote on resolutions (under S7-16-07) that my fellow investors present to all us stockholders and on the nominating members to the board.
The trend of large CEO compensation when the company is laying off thousands, avoiding environmental impacts, screwy accounting practices and anything-for-profit mentalities needs MORE investor oversight rather than less. We need as many consciences and common sense as we can get.
I believe if shareholders lose their right to proffer proposals and vote on boards combined with companies that do not govern themselves properly, shareholders will lose confidence in investing, especially in smaller or riskier ventures. The big blue chip companies will probably not be hurt because of their sheer size and the track history of safety but it is the smaller businesses, the adventurous companies that will keep the US innovative and competitive.
Please protect my rights. Thank you for your time.