From: Bob Broadfoot [rebroadfoot@comcast.net]
Sent: Tuesday, March 30, 2004 9:57 AM
To: rule-comments@sec.gov
Subject: S7-19-03

I have been investing for about thirty years, so I have often had opportunity 
to experience the farce of “corporate democracy” in selecting corporate 
boards.

I am quite familiar with the concept of “agency theory”.  However, as a 
minority investor in several firms that have been horribly mismanaged or 
worse, I think that it’s time to explicitly public corporations to give 
minority shareholders some voice on corporate boards and the selection of 
board members.

Certainly this would create some discord on some corporate boards.  But, after 
the plethora of recent examples of board acquiescence to  executive malfeasance, 
a little discord might be a good thing.

 

Robert Broadfoot
2912 Wembley Court 
Richardson, Texas  75082
972 231 3140