December 2, 2007
Dear Mr. Cox,
Please rethink your position on the ability of shareholders to nominate directors. The SEC is supposed to be the advocate of the investor/shareholder/owners of the businesses. The shareholder's ability to nominate directors is one of the key ingredients for enacting change in the the makeup of the board and hence the direction of the organization. I agree with Arthur Levitt's position in regard to this matter.
Source....NY Times 12/2/2007
Arthur Levitt, former S.E.C. chairman, said: “It’s a sad day when the S.E.C., the investor’s advocate, chooses to gag the voices of those they are charged to protect. Not only do shareholders deserve a say in who runs the companies they own, but free and fair markets depend on this oversight. Fortunately I believe that it is only a matter of time before investors are given the shareholder access they deserve.”
David L. Spurr