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C. William Jones, whose comments are presented below, is President of  the Association of BellTel Retirees Inc. ("ABTR"), believed to be the world’s largest such organization with over 110,000 members who are retired employees of Verizon and its predecessor companies, and he also serves as Board Chairman of ProtectSeniors.Org.  He had been a member of the earlier Forum program's Panel that established the Advisory Voting Project in 2006, and represented the ABTR in its initiation of the related Forum program addressing Verizon compensation issues.

For the report to which Mr. Jones responds, see



Comments of

C. William Jones

September 14, 2008


Say on Pay will hopefully:

1) cause corporations to provide shareholders with an executive overview addressing executive compensation, particularly incentive compensation, in plain English.

2) encourage corporations to provide detailed, clear back up to the executive summary.

3) change board’s attitude that they know best, just trust us.

That is one of the major problems – we don’t trust them. Why should we? Look at what has gone on with Enron, World Com, Fanny Mae and countless other corporations that allowed corporate greed to cloud their judgment. If it smells bad, it probably is. If it isn’t, corporations should be happy to explain why.

Corporate America must regain investor confidence by coming clean, paying for true performance and sharing compensation information openly with their owners. By not doing so, investors will be suspicious, and confidence is lost.

I realize that my comments lack the technical side of the issue. I will leave that up to your other experts. My comments really reflect the views of many thousands of constituents of our organization who are very interested in the performance of Verizon. Many of them are too heavily invested in their former employer and do not want to end up like employees and retirees of the recent failed corporations.




C. William Jones

President & Executive Director

Association of BellTel Retirees Inc.


Board Chairman






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