July 21, 2007
Dear Chairman Cox:
You should drop the suggested proposal curtailing investors' right to file advisory resolutions under Rule 14a-8.
Advisory resolutions have proven to be a highly effective way to get management's attention on issues that matter to shareholders. They help to promote improved corporate governance, greater accountability, and more meaningful disclosure. They are a source of important new ideas, and often serve as the starting point for productive dialogue with companies.
Restricting or eliminating advisory shareholder resolutions would be a step backwards. Mike Taylor