reads a letter - Breaking News and Opinion on The Huffington Post

By Billy Turner,2014-11-22 10:25
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reads a letter - Breaking News and Opinion on The Huffington Post

     October 2, 2009




Dear xxxx:

The undersigned companies and trade associationsrepresenting all segments of American industry and

    serving virtually all U.S. consumerssupport efforts by Congress to improve transparency, accountability and stability in the nation’s financial markets. As you develop a regulatory framework, we strongly urge policymakers to preserve the ability of companies to manage their individual risk exposures by ensuring access to reasonably priced and customized over-the-counter (OTC) derivative products.

    Business end-users rely on OTC derivatives to manage risks including fluctuating currency exchange, interest rates, and commodity prices. By insulating companies from risk, customized OTC derivatives provide businesses with access to lower cost capitalenabling them to grow, make new investments and retain and

    create new jobs.

    In contrast, some reform proposals would place an extraordinary burden on end-users of derivatives in every sector of the economyincluding manufacturers, energy companies, utilities, healthcare companies and commercial real estate owners and developers. Specifically, proposals that would require all OTC derivatives used by business end-users to be centrally cleared, executed on exchanges or cash collateralized or subject end-users to capital charges, would inhibit companies from using these important risk management tools in the course of everyday business operations. These proposals, which would increase business risk and raise costs, are at cross purposes with the goals of lowering systemic risk and promoting economic recovery.

    In order to promote U.S. competitiveness and economic growth, policymakers must ensure that any financial services reform effort allows U.S. business to manage the risks inherent to their businesses. In today’s

    challenging economy, access to customized derivatives helps businesses maintain operations, invest in new technologies, build new plants and retain and expand workforces.

    Thank you for your thoughtful consideration of our request. We look forward to working with you to promote stability and transparency as part of the ongoing economic recovery.



    Acadia Realty Trust

    Air Products and Chemicals, Inc.

    Allegheny Technologies Incorporated

    Alpha Natural Resources

    AMB Property Corporation

    AMC Entertainment Inc.

    Ameren Services

American Chemistry Council

    American Electric Power

    American Forest & Paper Association American Gas Association

    American Residential Communities LLC Anadarko Petroleum Corporation API - American Petroleum Institute Apple Inc.

    ARAMARK Corporation

    Associated Estates Realty Corporation Association for Financial Professionals Bayer Corporation

    Behringer Harvard

    Boston Scientific Corporation BP America

    Brady Corporation

    Brookdale Senior Living Inc. Bunge

    Business Roundtable

    Cabot Corporation

    Cargill, Incorporated

    Caterpillar Inc.

    CDW Corporation

    Chesapeake Energy Corporation CNL Financial Group

    Coca-Cola Bottling Company United, Inc. Cohen Brothers Realty Corporation Commercial Developments International, Inc.

    Commodity Markets Council

    Community Health Systems

    Compass Minerals

    Constellation Energy

    Cooper Tire & Rubber Company Corporate Properties of the Americas, LLC Covidien

    Cummins Inc.

    Deere & Company

    Devon Energy

    Digital Realty Trust

    Direct Energy


    Donaldson Company, Inc.

    DTE Energy

    Duke Energy Corporation


    Eastman Chemical Company

Eaton Corporation


    Edens & Avant

    Edison Electric Institute

    EFCO Corp.

    El Paso Corporation

    Electric Power Supply Association (EPSA) Eli Lilly and Company

    Emdeon Inc.

    Enbridge Energy Partners and Subsidiaries EnCana Oil & Gas (USA) Inc.

    Energy Future Holdings

    Entergy Corporation

    Exelon Corporation

    Financial Executives International First Energy

    FMC Corporation

    Ford Motor Company

    Forest City Enterprises, Inc. FPL Group

    GDF SUEZ Energy North America General Electric Company

    GID Investment Advisers LLC

    Goodrich Corporation

    Grove Property Fund LLC

    Harley-Davidson, Inc.

    HCA Inc.

    HCR ManorCare

    Health Care REIT, Inc.

    Helix Funds

    Hersha Hospitality Trust

    Hobbico, Inc.

    Host Hotels & Resorts, Inc.


    Independent Petroleum Association of America

    Industrial Energy Consumers of America Information Technology Industry Council International Housewares Association Invenergy LLC

    Johnson & Johnson

    KBS Capital Advisors

    KBS Real Estate Investment Trust KBS Real Estate Investment Trust II Kinder Morgan

    Lefrak Organization Inc

    Legacy Reserves LP


    Loews Corporation

    MarkWest Energy Partners, L.P. MeadWestvaco

    Medtronic, Inc.

    Meredith Corporation

    Mid-America Apartment Communities, Inc.

    MidAmerican Energy Holdings Company MillerCoors

    Millipore Corporation

    Mississippi Manufacturers Association

    Monday Properties

    National Association of Manufacturers

    National Association of Real Estate Investment Trusts

    Natural Gas Supply Association National Grid

    National Gypsum Company

    Newfield Exploration

    Northwestern Energy

    Novation Capital

    Novelis Inc.

    NRG Energy

    Owens-Illinois, Inc.

    PPL Corporation

    Praxair, Inc.

    Procter & Gamble

    Progress Energy


    Questar Energy

    Regency Centers Corporation Retail Energy Supply Association Ryder System, Inc.

    ScanSource Inc.

    Sempra Energy

    Shell Oil Company

    Simon Property Group, Inc. Simons Petroleum, Inc.

    Southern Company

    Stellar Industries, Inc. Strategic Hotels & Resorts, Inc. Superior Graphite Co.

    Superior Woodcraft, Inc. Tenaska Marketing Ventures Tenaska Power Services

    Targa Resources

    Tennant Company

Teradata Corporation

    The Boeing Company

    The Commonwealth Group, LLC The Durst Organization

    The JBG Companies

    The John Buck Company

    The Pinnacle Companies

    The Process Gas Consumers Group The Real Estate Roundtable The Williams Companies

    Thomas Properties Group, Inc. TRW Automotive

    United Launch Alliance

    U.S. Chamber of Commerce Vanguard Natural Resources, LLC Vermeer Corporation

    Volvo Group North America Washington Gas

    Weather Risk Management Association

    Weingarten Realty Investors Weyerhaeuser Company

    Whirlpool Corporation

    Xcel Energy

    Yocum Oil Company

    Zimmer, Inc.

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