August 13, 2009
Securities and Exchange Council
100 F Street, NE
Washington, DC 20549-1090
Dear Ms. Murphy,
If the government ever wants to soar out of this recession, then they need to stop and think about the negative impact that the shareholder proxy rule change will have on the economy. There is a very good chance that smaller businesses will eventually close their doors and the larger ones will have to make cutbacks. This rule change will likely have a devastating effect on the economy. It is absolutely not fair for the government to allow just about anyone to make decisions about my business when they do not know the first thing about it.
Being a hair stylist is fun and exciting, which is why I decided to open my own shop. I opened Rumor Has It so that I could enjoy my career and be the sole decision maker for my company. My shop has been open for about one year now, and I love it. Right now, I have six employees that I am very close friends with, and I would never want to be forced to lay off any of them. We get along great, and our clients are wonderful as well. Our business is doing okay, but I know that it could be better if the economy improved.
The last thing we need now is more unemployed people, but that is just what this rule change will do. Everyone is struggling right now, so we need proposals that will help businesses succeed, not force them to close down. The shareholder proxy rule change is not going to come even close to helping this economy. Therefore, it is imperative that you consider how people and businesses will be hurt by this change, and realize that it is not for the best.