November 6, 2007
Dear Mr. Katz:
Corporate governance controls American corporations to the detriment of shareholders and employees. Boards control beyond their right to do so the elections each year. We used to call it the "good ole' boy" network. It still exists as you are well aware. For example, a commmittee controls, for all practical purposes, the compensation of the CEO and other top executives. This destroys the freedom of shareholders and other employees. And it destroys our faith as Americans and as shareholders in the democratic process and the integrity of governing boards as well as top management. We perceive them all as greedy leeches preying upon the public whether shareholders or employees.
I support the Petition for Rulemaking (SEC File # 4-461) presented by the Committee of Concerned Shareholders and James Ritchie. I urge the SEC and yourself to step in and do that which is necessary to protect the rights of shareholders and employees.
Thank you for your attention to this matter.
G. Sherwood Sage