From: Frank Fandrick [frank@fandrick.com]
Sent: Friday, June 13, 2003 11:04 AM
To: rule-comments@sec.gov
Subject: S7-10-03
You are the government body that is supposed to protect shareholders, so please consider increasing shareholders ability to select their own representatives to the BOD. I am an IBM shareholder and IBM retiree. I am struggling to survive on my IBM pension, which is being reduced greatly by the increase in what IBM forces me to pay for medical coverage (which was supposed to be free). There has been one 2 1/2% cost if living increase in 14 years. Yet the BOD has permitted former IBM CEO Lou Gerstner to walk away with over a half a billion dollars in stock option profits alone. Please allow us to select the people who will be the watchdogs over greedy corporate executives. Thank You Francis M. Fandrick Richardson, TX