August 30, 2007
Dear Chairman Cox:
I am so hopeful that corporations can grow into roles of social responsibility rather than shrinking from it. I'm anxious for the day when CEO's, Boards of Directors, and Commissions like yours will consider the social, humanitarian, and ecological impact of their decisions rather than buying the best ways to make profits regardless of negative side effects. The people must be allowed to bring such issues into the foreground. Humanitarian and environmental issues cannot be overlooked because of corporate greed.
As a concerned investor, I am alarmed that the SEC has issued rules that could curtail or eliminate the ability of shareholders like myself to raise important issues with corporate management. I urge you to not curtail investors' rights to file advisory resolutions under Rule 14a-8.
Advisory resolutions play a vital role in encouraging corporations to be responsive to their owners. They help to promote improved corporate governance, greater accountability, and more meaningful disclosure.
Any actions that would restrict or eliminate advisory shareholder resolutions would be a disastrous step backwards. Please let me know what action you intend to take on this issue.