Chairman Christopher Cox
Securities and Exchange Commission
100 F Street, NE
Washington, DC 20549-1090
September 26, 2007
Chairman Christopher Cox
I'm writing to request that you protect the right of investors to file shareholder resolutions and urge you to take no action on the proposed initiatives that would curtail or eliminate this essential right.
The shareholders are the ones who really own these corporations, not the CEO's or the board of directors. They are just over paid flunkies. You are wrong to take this right, that every business owner has to control how their company operates.
In fact it's not any of your business to be frank, it's their company and it's their right to have a say in how it is run not you, never. You are not a shareholder nor do you own their business. If they were polluting the environment and wanting to pay their workers less, maybe you might have some input, but you stay out of their business and they will stay out of yours. If you do this then you have to do it to every business owner in the country, all or none.
Shareholder resolutions are an invaluable tool for investors who want to make their voices heard with regard to the direction of their companies.
Shareholder resolutions have helped to promote transparency and improve corporate governance and performance. They have called attention to critical issues, including global warming, nuclear power, sweatshops, executive compensation, natural resource extraction, and other major societal and environmental problems that, when not addressed, often end up costing shareholders and their companies as a result of lawsuits, damaged reputations, consumer boycotts, public protests, and low staff morale.
The many corporate scandals of recent years highlight how important it is to have more, much more, not less, corporate transparency and accountability. Shareholder resolutions have proven effective in holding companies accountable to their owners. I ask that the commission safeguard, not undermine, their use.
Thank you for your attention to my comments.
Sincerely,
Richard Nordland