The following comment on Letter Type E,
Letter Type E:
Mr. Jonathan Katz
Dear Mr. Katz:
I am concerned about the Securities and Exchange Commissionís recent proposal that would allow certain shareholders to nominate directors in company proxy materials.
I believe this proposal is short-sighted and will do nothing to aid economic growth or corporate performance. In fact, I believe that this proposal will distract corporate boards from their real responsibilities. It will also permit special interest groups, such as unions and state pension funds, to make use of the rules to advance their own agendas rather than that of all shareholders.
Individual shareholders will not be better served by this proposal. Instead, individual shareholders gain when corporate leaders remain focused on business and create value for their shareholders.
Please reconsider this proposal. Thank you for your attention to my concerns.