September 29, 2007
Nancy Morris, U.S. Securities and Exchange Commission
Dear Nancy Morris, U.S. Securities and Exchange Commission,
I've tried to be an citizen/investor -- own a piece of America as the SEC encourages. However, I've lost confidence in the system. Powerful insiders reap gross, personal profits from unethical actions ... at the expense of shareholders. We have no vote. No one in-charge is held accountable.
YOU are the Investor's Advocate. But the two proposed options for shareholder proposals and director elections undermine investor rights. One would take away shareholders rights to file proxy access proposals. The second would set the bar for proposals too high, effectively blocking long term shareholders from the proxy ballot.
As an investor, I expect you to protect my rights, not roll them back. I urge you to reject both proposed rules for shareholder resolutions and the election of directors.
Sincerely,
MIKE LAUGHLIN
cc:
Senator Ben Nelson
Senator Chuck Hagel
Representative Jeff Fortenberry