From: Karl Twombly
Regarding the SEC’s request for comments on S7-06-16:
Investors deserve to know the ways corporations are using shareholders' money for political purposes. The firm's management are employees of the owners, yet it is the management deciding how the owners' money is to be spent buying elections, polluting our environment, and affecting our economy. Instead of passing the profits to the shareholders and letting them spend their own money on whichever candidates or political causes they may prefer, managers are taking it upon themselves to decide how to spend the owners' money. While corporations have little to no accountability to even their own shareholders, disclosure is one solution that requires companies to consider the consequences, and the interests of their shareholders, before making decisions that affect their shareholders and regular Americans.Corporations need to be at least 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.
Karl TwomblyPalm Desert, CA