August 31, 2007
Dear Chairman Cox:
As a concerned investor, I am appalled that the SEC has issued rules that could curtail or eliminate the ability of shareholders like me to raise important issues with corporate management. We are shareholders and, as such, are accorded the right to express our concerns on corporate decisions. I read the resolutions when I receive them in the mail and respond accordingly. Please don't curtail investors' rights to file advisory resolutions under Rule 14a-8.
Advisory resolutions are vital in keeping corporations responsive to their owners. They help to promote improved corporate governance, greater accountability, and more meaningful disclosure. In a period when accountability and disclosure seem at risk, I think we need to see greater attention to investors' rights.
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.
Patricia J. Kaspar