From: Dave Wickersham [wick@waypoint.com]
Sent: Tuesday, March 09, 2004 12:31 AM
To: rule-comments@sec.gov
Subject: S7-03-04: 

I strongly favor your new proposal.  Mr. Johnson of Fidelity is missing the point. 
The greater the separation between the governing components, the more freedom is 
granted to act in the true interest of the shareholders. One can not be chairman 
of a fund and also have finincial interest in the fund as an owner of the advisory 
firm which is the source of  financial advice for the fund. The conflict of 
interest is obvious.  
D. A. Wickersham   Port Hadlock , WA