August 30, 2007
Dear Chairman Cox:
I am writing to you about the proposed new rules for public comment regarding shareholder resolutions.
As a concerned investor, I am alarmed that the SEC has issued rules that could curtail or eliminate the ability of shareholders like myself to raise important issues with corporate management. It is crucial that shareholders like myself, who are stakeholders in the economy, have the ability to raise vital issues and have them addressed by corporations.
I urge you to not curtail investors' rights to file advisory resolutions under Rule 14a-8.
Advisory resolutions play a vital role in encouraging corporations to be responsive to their owners. They help to promote improved corporate governance, greater accountability, and more meaningful disclosure.
Any actions that would restrict or eliminate advisory shareholder resolutions would be a disastrous step backwards. Please let me know what action you intend to take on this issue.
Yours sincerely,
Joan Marie Wood