From: john@ies.net
Sent: Wednesday, December 03, 2003 4:11 PM
To: rule-comments@sec.gov
Subject: Support for MODIFIED SEC pproposal File No. S7-19-03



Secretary Jonathan Katz
Securities and Exchange Commission Re: File No. S7-19-03
450 Fifth St., N.W.
Washington, DC 20549

Dear Secretary Katz,

Re: File No. S7-19-03

My wife and I support SEC proposal S7-19-03 regarding security
holder director nominations -- with a few changes to increase
the power of investors to remove and replace board members and
CEOs and to hold boards and CEOs accountable. 

We no longer know how to make "prudent" investments to protect
our finacial future due to breakdown in corporate structure (too
few checks and ballances, too much CEO power versus stockholder
and community interests, too much "creative" book keeping, etc.)
We no longer know who to trust about what.

Part of the problem is that too many corporate boards are
failing to fulfill their oversight responsibilities. They appear
eager to award outrageous pay and retirement perks to corporate
executives. These same boards are unwilling to challenge CEOs
with the tough questions their duties require. As we learned
from recent corporate scandals, this kind of board behavior can
allow self-dealing executives to destroy entire corporations and
walk off with millions, leaving shareholders, workers and
communities to suffer the consequences. 

By giving shareholders a voice in picking corporate directors,
the reforms put forward by the SEC have the potential to put an
end to the "Imperial CEO."

HOWEVER, as proposed, the rules contain certain barriers,
including high ownership thresholds and a cumbersome two-year
process, which would make them difficult for investors to
actually use.

We urge the SEC to reject the overly constraining barriers and
to adopt final rules that truly will give shareholders a voice
in picking directors at America's largest corporations.

Corporate reform should be something investors actually can use.



Sincerely,

John Young
14 Poinsettia Place
Brownsville, Texas 78520-8033