Kb, did you see this regarding corporate governance?
concernedshareholders.com
corpgov.net
Shareholders should be entitled to nominate and elect truly independent Directors --- those who are not beholden to Management and/or fellow Directors for their selection, retention and/or the financing of their proxy solicitation efforts.
Will corporations voluntarily make it realistically possible for Shareholders to elect Directors not selected by Management and/or incumbent Directors? The last time someone voluntarily relinquished real power was in 1798 --- George Washington resigned from office.
On August 2, 2002, the Committee and James McRitchie, Editor of CorpGov.Net, jointly filed a formal Petition for Rulemaking (SEC File No. 4-461) with the SEC whereby it was requested, in substance, that Rule 14a-8(i)8 be eliminated. You may view copy of the Petition for Rulemaking and Description of Proposed Amendments at CorpGov.Net.
Will the SEC modify SEC Rule 14a-8(i) to provide Shareholders with a level playing field? It all depends on YOU! Join us with our efforts. Please e-mail (1) Mr. Harvey L. Pitt, Chairman and/or (2) Mr. Jonathan G. Katz, Secretary, at the SEC, indicating that you support the Petition for Rulemaking (SEC File No. 4-461) submitted by the Committee and James McRitchie. Sample communications to the SEC by three of our supporters can be found at Yahoo! TAA Message Board Post # 15407, IFLO Message Board Post # 10057 and IFLO Message Board Post # 10068. TAA Message Board Post # 15407 has received at least 79 (!) “Recommendations.” Further, you may sign, with many others, an Internet petition in support of the Petition.
If YOU want corporate governance to improve, YOU must take action to improve it. Otherwise, after a cooling off period, corporations and their Boards of Directors will go back to "business as usual." |
