August 31, 2007
Dear Chairman Cox:
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.
Because I have a PhD in economics with a focus on corporate governance, I understand very well the importance of the voice of shareholders in the publically traded company, and in the economy as a whole. Limiting the rights of shareholders would also limit an important check and balance needed to keep public companies "public". We are already facing a situation in which a mojority of the population, when surveyed, claims to beleive that corporations "have too much power" (I am among this majority). Limiting shareholder rights would only further the problem. Instead, we need to move more in the direction of increasing the voice of small shareholders, with the goal of returning economic power to the people (real people, not bureacratic entities with the legal rights of people, but none of the responsibilities).
Please let me know what action you intend to take on this issue.