Chairman Christopher Cox
Securities and Exchange Commission
100 F Street, NE
Washington, DC 20549-1090
September 28, 2007
Dear Chairman Cox:
The purpose of public ownership, as I understand it, goes beyond a simple loan (bond) and should encourage shareholder foresight and input to help steer the company and address potential problems.
Shareholders receive their money after bond-holders because they are considered legally responsible for the losses. Problems which could have been addressed by shareholder resolutions could often end up costing shareholders and their companies as a result of lawsuits, damaged reputations, consumer boycotts, public protests, and low staff morale.
The many corporate scandals of recent years highlight how important it is to have more, not less, corporate transparency and accountability. Shareholder resolutions have proven effective in holding companies accountable to their owners. I ask that the commission safeguard, not undermine, their use.
Thank you for your attention to my comments.