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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.

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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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