Update on Proxy Rule changes for corporate annual meetings
From: Wendy Widlus [ww@earthlink.net]
Sent: Saturday, June 07, 2003 7:00 PM
To: rule-comments@sec.gov
Subject: (s7-10-03) Update on Proxy Rule changes for corporate annual meetings
To Whom It May Concern:

I am a fifty one year old former (twenty years) county prosecutor for a large 
city. I had hoped my large contributions to my various retirement funds, plus 
my individual investments would allow me to live comfortably during  my retirement. 
Given recent headlines and market performance this does not appear to be realistic. 
I am more upset than I can express about the corporate fraud and obscene CEO excesses 
during the last few years. What is more troubling is that it appears under the present 
system I have no ability at all to affect the conduct of these companies. Thus, it 
is very encouraging to see that the SEC is now willing to review proxy rules.

I appreciate any improvements the SEC can make to improve the proxy rules so that 
shareholders such as myself will be able to meaningfully oversee the companies who 
invest/squander their hard earned money. Thank you for being a governmental agency 
which actually seems to have my best interests in mind.

Very truly yours,
Wendy Widlus


from selecting the directors who are supposed to oversee CEOs for shareholders.

The SEC's press release did not specify specific reforms; it merely said it was 
considering reforming the proxy rules and asked for input.  The REAL reason for 
the press release was to test the waters to see if any shareholders cared whether 
the SEC improved its rules.  So the NUMBER of responses matters more than their 
CONTENT.  It also is not important for responses to say they support particular 
reforms--it is only important that the responses say that they value or applaud or 
thank the SEC for being willing to review the proxy rules.   

The SEC has set up an email address just for responses to this press release.  It 
is rule-comments@sec.gov  It is important the responses NOT be identical, so use 
your own words.  But you could say something like:  As a person with a pension fund 
(or a mutual fund, or investments in the market), you have been disturbed by the 
corporate frauds and CEO excesses of recent years.  You therefore appreciate any 
improvements the SEC can make to the proxy rules that affect shareholders' ability 
to oversee companies they own.

That is enough.  If you want to go on longer, that is fine.  If you want to say 
that shareholders ought to be able to SELECT directors and not just rubberstamp 
directors chosen by CEOs, that is especially fine.  But two sentences--one about 
you and a second thanking the SEC for reviewing the rules