Upholding rights of shareholders
Re: “Sitting pretty: Most top-paid CEOs take more in ’08 despite the economy, public ourtage,” May 24:
Information in the last paragraphs said new Securities and Exchange Commission Chairwoman Mary L. Schapiro has introduced a shareholder rights plan to revive so-called proxy access and to eliminate broker voting.
Individual shareholders need a voice when they make an investment.
Many proxies are arriving very late, almost missing the shareholders meeting. On the back of those proxies is SEC-approved wording stating that if the company cannot get the material out by certain dates, the broker or the company can vote at their discretion.
Keep the pressure on the companies and their executives so that no one can stuff the ballot box.
Caroline Spencer
Los Angeles
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