From: Gordon Garney [gggjcg@earthlink.net]
Sent: Thursday, June 05, 2003 1:24 PM
To: rule-comments@sec.gov
Subject: File No. S7-10-03 ("Possible Changes to Proxy Rules")


As a retired corporate officer and a former member of several industry committees 
involving shareholder related issues and as individual investor holding shares in 
a number of publicly traded companies as well as in several mutual funds, I am 
greatly concerned about the corporate abuse of shareholder trust and corporate 
fraud found in many companies in recent years.
 
As a shareholder, I appreciate the efforts of the SEC to help protect individual 
shareholder interest.  The SEC action in reviewing the proxy rules has taken an 
added importance since some directors of corporations have failed to look after 
the assets of the corporation entrusted to them by the shareholders.  This failure 
has make the headlines during the last several years in the form of corporate 
abuse and fraud and by the directors approval of CEO excesses including large 
CEO retirement perks.
 
I appreciate any improvement/changes the SEC can make to the proxy rules which 
increase the ability of shareholders to have an important voice in the companies 
they own.  A first step would be to enable shareholders to have a greater role 
in how the directors are selected versus just rubberstamping those selected by 
the CEO.   
 
 
--- gggjcg@earthlink.net