From: Michael Bruch
Sent: May 12, 2006
To: rule-comments@sec.gov
Subject: File No. S7-03-06

I just read a story about the pressure that the SEC is receiving about its proposed rule (sorry I do not know the official rule name) to require "public" companies to disclose the compensation of its top earning non-executives. It has been referred to as the "Katie Couric" clause. I know that I am not a multi-million dollar corporation but I hope that the opinion of a honest, tax paying citizen who can't afford his own lobbyists will be considered.

My opinion on this proposed rule is very simple. If a company does not want to disclose salaries and other compensation, they should make their company private. As long as they want to use the shareholders money, all costs should be disclosed. Have we not had enough well publicized fraud cases involving companies and individuals that acted illegally by keeping information in the dark?
Frankly, I am disgusted by the arrogance of those few in our society with more money than 99% of us dictating how the SEC (a government unit of the people) should restrict access to information in a public company. Like I stated earlier, if they want to keep information secret, they already have an option. Take their company private. If not, full disclosure is needed to protect the public's investment in these companies.

Thank you for your consideration.

Sincerely,

Michael Bruch