September 17, 2007
I am adamently against limiting small investors, like myself, ability to have a voice in the process of selecting Directors.
Limiting nominations to those people with at least 5% of a corporation's stock would effectively eliminate 99% of the shareholders from having a voice in the process. This decreases shareholder input and turns over full-control of the company to insiders and the wealthy.
What's so wrong about us little guys being able to nominate a director? The big guys (5%+ owners) can still vote down our nominations, but at least we get the chance to be part of the discussion.