From: Powell Foster [powellfoster@earthlink.net]
Sent: Tuesday, June 10, 2003 2:36 PM
To: rule-comments@sec.gov
Subject: Election of boards by shareholders

Current rules make it very difficult for minority shareholders to nominate 
candidates for the board of directors. The result is that in most board 
elections, there is only one slate of candidates – picked by and for the 
current board.

But now that the SEC has agreed to review how corporate directors are elected, 
there is great hope that it may consider ways to make it easier for minority 
shareholders to nominate directors and to gain some kind of proportional 
representation on the board of directors.

Shareholder democracy matters and that minority shareholders need greater 
powers to appoint directors to end a corporate election process that is 
operated for and by corporate insiders

Powell Foster
263 Friendship DR    Bristol TN 37620