August 30, 2007
Christopher Cox, Chair
Securities and Exchange Commison
100 FStreet, NE
washington D.C 20549-1090
File number: S7-16-07
Dear Commissioner Cox:
I am writing in support of the SEC regulations.Which pertain to the filing of precatory shareholder resolutions. Investors are guaranteed under state law certain rights and access, include the right to petition management,address all investors and file relevant proposals on corporate governance and social matters. That access is regulated through the Securities and Exchabge Commision,which has developed a sound, functioning system over the yeras from its creatioln.
Myself I am a shareholder I feel that an electroninc forum as an alternative to the current precatory proposal system will exclude many investors . It is not an appropiate vehicle for investor communication or for rasing concers with management. Furthemore, it is not a technology proven to satisfy investor? or for the matter management. The current regulations established by the SECshould remain in force. The federal government established oversight of corporations The system works.To dismantle the regulatory system would serve neither corporations nor investors. The corporations operate in many states. It is not inconceivable that a state legislature would develop its own guidelines ,e.g many states have passed or considering anti-predatory lending rules,emissions standards,universal healthcare object.
I believe as an investor I SHOULD ASK QUESTIONS , when a company, governance or social record is putting shareholder value in jeopardy.
Thank you for your attention.