August 3, 2015
To Whom It May Concern:
As a retiree who worked for 47 years at the P. H. Glatfelter Company, located in Spring Grove, Pennsylvania, I am totally against the proposal to make electronic delivery the new standard for all shareholder reports. This would definitely have an adverse effect on paper companies, like P. H. Glatfelter. The majority of people PREFER to receive printed materials.
Citing two reasons as follows:
Paper is still the preferred method of transmission for investors. According to SEC’s own study conducted by Siegel + Gale in 2012, 71 percent of American investors said they prefer to read annual reports in paper format rather than online versions and a large number of respondents also asserted that printed materials yield higher content comprehension than online materials.1
Rule 30e-3 would impede access for many investors, especially the elderly, those with disabilities, and minority Americans – all demographics that are less likely to have regular Internet access. For example, 41 percent of Americans over 65 years of age do not use the Internet, yet, according to the Investment Company Fact Book, 34 percent of this population owns mutual funds.2, 3
Sincerely,
William E. Gobrecht
Sally A. Gobrecht