September 3, 2007
Dear Chairman Cox:
I urge you to prevent curtailing the rights of investors to file advisory resolutions under Rule 14a-8. As an investor, I am concerned that SEC rules could curtail or eliminate the ability of a shareholder (me) to raise important issues with corporate management.
Encouraging corporations to be responsive to their owners through advisory resolutions is an important thing for investors. It helps to promote improved corporate governance, greater accountability, and more meaningful disclosure.
Actions that would restrict or eliminate advisory shareholder resolutions would discourage investment by smaller shareholders. This would be counter-productive to our economic policy. Please let me know what action you intend to take on this issue.
Yours sincerely,
Joseph Armstrong