Subject: File No. 4-637
From: Hugh Smyser

September 7, 2012

Dear members of the Securities and Exchange Commission:

When public corporations make political donations, are they serving their shareholders, employees, customers and other stakeholders? Or are they simply a kind of fringe benefit that allows their top executives to support causes that fit their personal agendas?

Requiring full disclosure of donations of political expenditures would allow their stakeholders to form their own judgments and decide how to respond.


Hugh Smyser