Subject: File No. S7-03-06
From: michael b durkan
Affiliation: fire-fighter

April 7, 2006

Having just finished a proxy voting submission for IBM,I am still steaming at the self- aggrandizing arrogance sprinkled liberally through-out the documentation. The double standard applied to benefits and compensation is incredible, one character (Gerstner) is still getting money put in a deferred comp. arrangement. Smoke these rascals out, enough of their covert pocket-stuffing.