From: DonCarlson100@aol.com Sent: Monday, June 02, 2003 4:45 PM To: rule-comments@sec.gov Subject: Comments re: S7-10-03 To the SEC: I understand you are considering reforming corporate proxy rules. It is definitely time to do so. Through the small company I own, I have a pension fund, one of many that has been decimated by self-serving investment advice from analysts in bed with the companies they "analyzed", and by imperial CEO's whose only goal seems to have been to maximize their own wealth. Individual shareholders seem to have no rights at all. CEOs appoint friendly board members who do the bidding of the CEO. Big institutional investors throw their proxy votes to the CEO, as a matter of tradition (thank goodness, some are changing their ways, in egregious situations). Individual investors are neither represented properly, nor do they have any leverage to cause any change. When results start to weaken, the big guys get out and the little guys get hurt. While our rules look good on paper, they don't work for individual investors. Reform is definitiely needed. I hope you have the courage to do so, and the will to stand up to the intense lobbying the investment industry and the big corporations will throw at you. It would be an enormous relief to see one agency in Washington that isn't just marching to the tune of big corporate donors. Don Carlson