September 4, 2007
Dear Chairman Cox:
I invest in a variety of companies and want my investments to reflect my values. I believe that corporations I invest in should be accessable to me as a shareholder. Some social and environmental practices of corporations can impact not only the greater good of the communities in which they are imbedded, but their own bottom line and sustainability as well. 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. 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,
Bonita Hay