July 24, 2007
Dear Chairman Cox:
I urge the SEC to abandon the provisions of proposed Rule 14a-8 restricting the right of investors to file advisory resolutions. Rather, SEC rules should protect the right of investors like myself to use resolutions to communicate our concerns to corporate leaders. Upholding this right is essential because shareholders' input in the form of advisory resolutions informs innovation and spurs improvement in the companies we own. Corporate governance, accountability and disclosure have all been enhanced as a result of shareholders' advice in the form of resolutions.
To deprive us of such an effective tool would be unconscionable. I request that you let me know what action you are recommending on this issue.
Yours truly,
Gail Wechsler