February 21, 2006
Dear Chairman Cox and SEC members:
I really want to encourage the SEC to institute any form of reporting
by
publicly traded companies which will let stockholders easily find the
total
cost of executive pay and benefits packages.
I also hope that the SEC will establish a site that will give
shareholders
the information needed to take an initiative to other shareholders for
a
vote to change the executive compensation package if the shareholder
believes the existing salary, benefits, bonuses and stock bonuses/award
amounts need to be amended.
In conclusion, the current power inequality between executives and
shareholders is tilted totally toward executives who hold tight control
over
pay and benefit costs of their employees but have no self-control on
their
own pay and benefits. They have a fiduciary responsibility to control
corporate expenses but unfortunately most executives are also ethically
challenged and without strictly enforced laws, will continue their
outrageous behavior.
Frank Giles
9717 North Stevens Street
Spokane, WA 99218
(509) 466-2056
shodannnidann@yahoo.com