Whine and Cheese

Dr. Joe waxes wroth (and don't think Roth is happy about it) about the PIA/GATF response to:

the proposal by the SEC to allow companies to distribute and conduct business electronically, and not print all of those annoying proxies, reports, etc. that come to clutter my and others mail

the PIA/GATF response being:

Printing annual reports and proxy materials accounts for a huge volume of work produced by our industry, which employs more than 1.2 million workers nationwide. As an industry, we are concerned not only about the negative impacts this proposed rule could have on the jobs associated with printing, but with the harm it could bring to our vendors and suppliers as well.

Would you like a little cheese with that whine? Sez the Doctor:

Our industry sounds like a barrier to progress, protecting decidedly outmoded means of commuications [sic], when it actually needs a good swift kick in the behind. We're already being referred to as "offline media" and reference to us as "legacy media" has been common in recent years. I'd rather be putting out a story about how our companies are already on top of this issue. After all, EDGAR, the electronic reporting service of the SEC has been around for about 20 years. Why do I suspect that FedEx/Kinkos might already be salivating at the prospect of being an approved outlet for ondemand SEC documents?

What should they have said instead?

"PIA/GATF members have invested heavily in the latest, most innovative ondemand printing technologies that SEC-reporting companies and investment intermediaries can use in the many circumstances where hard copy is needed and preferred. We are working with the SEC and the Postal Service to ensure that any barriers to prompt acceptance, production, and delivery of financial documents are eliminated so that companies and shareholders can benefit from the speed of modern communications, the reduced costs that companies can re-invest in core operations, and the enhanced function of an informed investor marketplace. We want to be sure that PIA/GATF member companies have the latest information they need to participate in this critical aspect of shareholder rights and protections."

Coulda woulda shoulda.