From: Mario Corral
Sent: April 9, 2006
Subject: File No. S7-03-06

Securities and Exchange Commission

Dear Securities and Exchange Commission,


Why should executives pay themselves millions and simultaneously REDUCE benefits to labor. Why should executives provide themselves "golden retirement parachutes" and simultaneously put their firms into bankrupcy so that they can eliminate labor retirement plan obligations.

IT IS TIME FOR THE SEC TO REALLY REFORM EXECUTIVE PAY. Rules should come forth that SET A LIMIT to what excutives can pay themselves. How many millions of dollars does one person need to live comfortably in the USA. Why should executives rip off stockholders and workers millions instead of sending those millions to shareholder and worker bonuses.

Capitalism has turned very greedy and ugly in Corporate America and you, the SEC, has done nothing to limit this abuse of power and greed.

We, the avergage worker, on the other hand is lossing pay, loosing pensions and benefits. The American Worker is being sucked dry by Executives and Bureaucrats. It is time to stop and work for the people...and not corporations.

This November I hope Americans wake up from this BUSH and Big Corprate Nightmare and vote Democrats is to return to spending for our People, the American Working Person!

The SEC can begin the turnback.

The newly proposed rules are a very poor effort toward this goal. WE NEED STRONGER CISCLOSURE AND COMPENSATION LIMIT RULES.

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.


Mario Corral
4542 N 75th Place
Scottsdale, Arizona 85251local