From: Barbara Clark
Iím writing as a member of the public and a retail investor in response to the SECís request for comments on S7-06-16. This issue appears occasionally on proxy statements form the companies in which I own stock, and I vote for transparency; However, the issue is not raised nearly often enough. THe only way companies will really disclose political spending, in a way that is easy to find, is when they are required to do so. For starters, why do proxy materials never contain a clear policy statement on political contributions?
Investors deserve to know the ways corporations are buying elections, polluting our environment, affecting our economy, and more. And while corporations have little to no accountability to even their shareholders, disclosure is one solution that requires companies to consider the consequences Ė and the interests of their shareholders -- before making decisions that affect their shareholders and regular Americans.
Itís time for corporations to be honest with their investors and the American people.
Public corporations should at a minimum be required to:
1. Disclose their political spending.
We need to end the secrecy and give investors the information they deserve.