From: Larry Kessler [ljkess2002@yahoo.com]
Sent: Thursday, July 10, 2003 4:14 PM
To: rule-comments@sec.gov
Subject: (s7-10-03) Possible Changes to Board Nomination Process @ Public Companies

The Wall Street Journal today reported an SEC staff recommendation imminent to the 
effect of allowing greater access to proxy nominations for shareholders.  While the 
details have yet to be worked out, I would conjecture that ANYTHING done to increase 
shareholders' control over the Board, the nomination process, the actual election of 
board members, and their retention will be a giant step in the right direction.  The 
recent spectacles of Enron, World Com, Tyco, et al, are really the tip of the iceberg.  
A shareholder in a public company today has NO input or influence what-so-ever on the 
company, the management or the Board.  Shareholder money is squandered routinely and 
managements regularly stuff the boards with cronies.  The keretsu system that has led 
to such trouble in Japan is replicated in the incestuous system that exists in American 
corporations.  The very fact that the Business Roundtable, Intel and other corporations 
oppose this! sort of reform says a great deal about how profitable to executives and 
board members the current methods are; god forbid that the golden goose fail to make 
instant billionaires of these crooks.  Only when the shareholders, not management or 
the board itself,  control this process will we begin to see real changes in the 
corrupt system we have today.  Pass that reform ASAP, please!


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