AndyAndyAndyAndy writes: "An interesting piece at CNN Money details the little-known process major companies go through in order to ignore their shareholders' petitions and proposals. Part of the article examines a few embattled petitions, brushed aside by their corporations via 'no-action' letters granted by the SEC.
One such example detailed the efforts of several Catholic monastaries to convince AT&T to adopt net neutrality policies and practices.
"Net neutrality can greatly affect underserved communities that have limited access to the Internet. We need to alleviate those social inequalities," [the petition's contact person Jonas Kron] said, noting that the U.S. Conference of Catholic Bishops has published an open letter supporting Net neutrality.
Unfortunately for the nuns and Mike D, the SEC granted a no-action letter on the basis that net neutrality is not "a significant policy issue." Kron called the decision "shocking" and said the group "vigorously disagrees."