October 2, 2007
Chairman Christopher Cox
Securities and Exchange Commission
100 F Street, NE
Washington, DC 20549-1090
Dear Chairman Cox,
This letter is to express my opposition to the proposed rule S7.17.07, which would allow corporations to exclude shareholder proposals, as it pertains to director nominations.
Recent corporate scandals have underscored the need for more transparency and accountability by the managers of our corporations. Our economic survivability is dependant on investors trusting our public companies. In order for investors to regain that trust in our financial markets, corporations need to be held to higher levels of accountability.
Allowing shareholders to have a voice in corporate matters through the nomination and election of corporate directors is a vital step in holding a company’s management accountable. This proposed rule would allow corporations to exclude shareholder proposals/nominations at their discretion.
Giving corporate managers this power only serves to lower our confidence in our public companies. I oppose rule S7.17.07 and hope that the commission rejects this and any proposals that limit the rights of shareholders.
Sincerely,
Jose Quirarte