Sarbox and proxy access item

Well, the issue has been decided--for now. The SEC has voted to deny shareholder access to proxies, something shareholder rights activists have long supported. SEC Chairman Christopher Cox says he votes to deny to provide clarity for companies ahead of shareholder meetings. He also says the issue could crop up again next year. Among opponents of the idea, one thought has been that the world has changed significantly in recent years, driven in part by Sarbanes Oxley. There are more outside directors than ever after all, and they ought to be more empowered. It makes sense to some degree, but the issue is really about how to change directors. In this era, outside directors aren't necessarily better directors. Tune in next year.  

For more:
- here's a column in support of denying access