Several dozen managers and directors of foreign based pension plans and insurance companies— which invest in U.S. securities—wrote a joint letter to the head of the SEC. In that letter, they stated that “experience in the United Kingdom, Australia, and the Netherlands has shown that boards whose members may be removed by shareholders are much more sensitive to shareholder opinion and are much more likely to engage in a meaningful dialogue with the institutions that holds their shares.” How important is such a dialogue? What might be some of the topics of such a dialogue?