February 9, 2012
Securities and Exchange Comm.
Dear Securities and Exchange Comm.,
I am deeply concerned about the influence of corporate money on our electoral process.
I've been amazed at the amount of control that the board of directors of corporations can do pretty much as they please in terms of how corporate profits are spent without prior approval of stockholders of record. There are several areas that need to be addressed beyond executive compensation and that annual meetings are pretty much controlled so as to minimize stockholder participation; and voting proxy shares in board meetings.
One major item is the spending of corporate assets to finance lobbying goals and influencing how the public views candidates for public office both pro and con.
Both shareholders and the public must be fully informed about corporate and union political spending directed to candidate support group(s), aka/(SuperPacks). Further, full disclosure must be provided to stockholders before "the horse leaves the barn" as I put it.
I also would urge those other issues noted above to be subject to revisions on a regular basis to insure stockholders receive pertinent timely information. I think that such disclosures would be posted on the SECís web site as a normal part of communicating with stockholders and the general public.
Thank you for considering my comment.
Rev. Wayne E Sparks, Retired