August 31, 2007
Dear Chairman Cox:
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.
If anything, the SEC should be proposing new rules to ENHANCE investors' rights rather than diminishing them. We small investors have had enought of insider trading, directors' shenanigans and good ole boy "gifts" of salaries, bonuses and other undeserved perks.
Advisory resolutions 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.
Sincerely, Marcia Weser San Antonio, TX