September 25, 2007
Chairman Christopher Cox
Securities and Exchange Commission
100 F Street, NE
Washington, DC 20549-1090
Dear Chairman Cox:
Shareholders are the owners of public companies. As such, they require appropriate forums for helping their corporations grow and change. Because shareholders seek the best possible return on their investments, they want their corporations to do what's right so the corporation will thrive.
It's therefore important to protect the right of investors to file shareholder resolutions.
If shareholders were to lose this right, and a company were to fail to address a known problem resulting in shareholder loss, the courts would likely find the company officers negligent.
The many corporate scandals of recent years highlight how important it is to have 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.
I urge you to take no action on the proposed initiatives that would curtail or eliminate this essential right.
Thank you for your attention to my comments.