There is a common theme that unites the two proposals before us today: they both would operate to suppress the exercise of shareholder rights.
The proposed changes to our current proxy regime would make it more costly and more difficult for shareholders to cast their votes or even to get their issues onto corporate ballots. There is a stark divide between issuers and shareholders on the policies reflected here. The bottom line is that these policy choices, if adopted, would shift power away from shareholders and toward management.
There is nothing inherently wrong in making such a choice, particularly