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