From: Granville Kennedy [gskiii@telerama.lm.com]
Sent: Monday, March 29, 2004 9:36 PM
To: rule-comments@sec.gov
Subject: S7-19-03

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Past history indicates that corporate memories are indeed short-lived.  
Regardless of the punishments meted out to the few who are caught with 
their hands in the cookie jar, it will not be long before shareholders 
and taxpayers are once again the victims of the greedy few who have 
positions of power in the corporate world.  Giving shareholders the 
ability to have a voice in the process of choosing those in power may 
provide some checks against abuses.  Clearly, the situation as it now 
stands allows the wolves to guard the flock, and the shareholders are 
left in the position of lambs being led to the slaughter.  In my 
opinion, the proposed rule changes do not go far enough, but they 
certainly are steps in the right direction.

Regards,
		Granville S. Kennedy, III