From: MilmanY@aol.com [mailto:MilmanY@aol.com]
I hope that you do something to change the way corporate directors are nominated. Currently they are nominated by a nominating committee that has been selected by the CEO. The nominating committee can be depended upon by the CEO to nominate people who when elected will support the outrageous pay packages of the CEO and themselves. With all the attention given to corporate crooks since Enron nothing really material has been done to curb the thievery that the present system of selecting and electing directors permits. How much will the average CEO steal? As much as he can!
How long will the American public tolerate what has been going on? How long can our economic system stand the results? A good salary should be enough to motivate a CEO to do a good job. Something is drastically wrong if he has to be additionally given a bonus plus a stock option plus restricted stock. The present system allows the CEO to manipulate the board into granting this largess.
So if you can provide a way for directors to be nominated by the stockholders it would be a fine start toward reducing the current plague of corruption. Yes, corruption. Please try to do something about it.
Milman P. Youngjohn