Subject: SEC RULE S7-25-97

Date:    11/19/97 1:56 PM
     
     
Dear Chairman Leavitt:
     
I oppose SEC's proposed rules (S7-25-97).  Shareholders should have more voice, 
not less, in how their companies are run.  Business executives rip off their 
companies by paying themselves outrageous salaries, promoting atrocious 
corporate environmental behavior, and laying off workers in favor of cheap, 
foreign, "slave" labor.  SInce the United States government can't stem these 
abuses, the shareholders are the only source of control over execs and their 
puppet boards.
     
The following provisions are especially problematic:
     
The new rules would block shareholder resolutions that address less 
than 3% or $10 million of a company's business.  This provision would 
effectively eliminate many emerging issues or business practices that
are not easily measured in dollars such as sweatshop labor or pollution. 
     
The new rules provide an automatic qualification for any resolution 
sponsored by the owners of 3% of a company's shares of stock.  For most 
Fortune 500 companies, 3% of the shares means more than $1 billion worth 
of stock, which means only the biggest investors could wield this kind of 
clout. This is grossly discriminatory.
     
Please protect the rights of American shareholders to address irresponsible 
corporate behavior through the shareholder resolution process and stop these 
regulations from going through. 
     
Sincerely,
     
     
Chris Wetzel
Dept of Psychology
Rhodes College
2000 N. Parkway
Memphis, TN 38112-1690
phone: 901-843-3986
fax:901-843-3727
email:Wetzel@Rhodes.edu
homepage: http://blair.library.rhodes.edu/psych/wetzel/wetzelhomepage.html