From: Lori Fillo
Sent: April 9, 2006
Subject: File No. S7-03-06

Securities and Exchange Commission

Dear Securities and Exchange Commission,

I am sick and tired of the working people of this country getting the short end of the stick all the time. It has been proven over and over again, that the poor get poorer, and the rich get richer. Soon there is not going to be an American Dream because nobody will be able to afford it. In my household we have three incomes, and are barely making it from pay to pay, were-as our administrators and executives don't have to worry about whether they can pay their bills or have a job or not because their compensation packages are better than their salaries. My brother works for GM. He is caught between a rock and a hard place. He is damned if he does take the package offered to him and damned if he doesn't, because he cannot predict the future. Will GM offer him a package if he makes 30 years or not? I'm sure the executives aren't worried about that.
It is just not fair!
I am writing to urge the Securities and Exchange Commission to act on its proposed rule making on executive compensation disclosure. Too often executives are richly rewarded even when their companies' performance is below par. Without better disclosure, shareholders, employees and the general public cannot evaluate whether executive pay packages are unjustly enriching executives at shareholder cost or providing fair compensation.

The newly proposed rules will make this crucial information more accessible to shareholders and the public. The new requirements to disclose total compensation figures, pensions and detailed compensation breakdowns will make it clear exactly how much top executives are earning and why.

I believe that CEO pay should be set by independent directors.
Under the proposed rule, a director could secretly do $120,000 in business with a company, an amount that is more than four times the average worker's annual pay of $27,460. Shareholders should be told if directors have potential conflicts of interest, no matter what the amount.

I also urge the SEC to require that companies disclose pay-for-performance data. In order for investors to understand how pay and performance match up, companies need to explain more clearly what level of performance is necessary for a particular level of pay. I urge the SEC to require companies to disclose both the performance criteria and the performance targets they use when setting executive pay.


Lori Fillo
530 Grant Ave. Ext.
West Mifflin, Pennsylvania 15122