September 1, 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.
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. I believe such openess to governance is more critical now than ever as some corporations are adopting policies that will reduce global warming while others are not. As citizens and investors realize the huge environmental and ultimately economic cost of not solving this problem, we have a route to require corporations to better reflect our values in the world.
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.