August 30, 2007
Dear Chairman Cox:
Though you may recognize the note below as a form letter from Co-Op America, I'd like you to know that I have read it and endorse it personally. Corporations can be a major force for good, but only if they remain responsive to their shareholders.
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.