From: Russell Willis [rwillis@ais.net.au]
Sent: Wednesday, March 31, 2004 10:11 PM
To: rule-comments@sec.gov
Subject: S7-19-03

I wholeheartedly support the proposal for allowing investor nominees for boards 
of directors. The only problem is it is only one step in the right direction.
 
a.. The current system serves a single special interest exclusively -- that of 
incumbent directors. Insiders don't have a problem with that because they're 
sure they know what's best for shareholders. 
 
b.. If shareholders legitimately elect a director, then that director doesn't 
represent a "special interest" but the owners of the company. Insiders keep 
forgetting they work for investors instead of the other way around. Any board of 
directors which is unwilling to listen to its shareholders should be 
automatically fired.

c.. The proposed SEC rule would simply allow investors to nominate a director on 
equal terms with management's choices; the rule wouldn't grant them an automatic 
seat. Some corporate insiders contend that fair, honest elections for directors 
would prevent corporations from functioning. If that is so, than those 
corporations should not function. 

d.. We use elections to choose our political leaders to make life and death 
decisions, but that system is too risky for corporations. 

Yours sincerely,
Russell R Willis