From: Paul Hofmann [mailto:Paul_Hofmann@ama-assn.org]
Dear Ladies and Gentlemen:
This message is sent in support of the proposal to allow investor nominees for the boards of directors on the proxy ballot. As an investor in several publicly-traded companies, I am, by definition, an owner of parts of those companies in which I invest my hard-earned monies. It follows, then, by definition, that I should have a voice in the election process for the board of directors.
Despite the fact that I feel that this proposal does NOT go far enough in granting a voice to individual investors, it is nevertheless a small step in the right direction by allowing investors' nominations an equal footing with managements' choices in the BOD election process. This gives special-interests somewhat less control in this process, and may lead to further reforms to prevent recent events such as the meltdowns of Enron, WorldCom, GlobalCrossing, Adelphia Communications, etc. It should be noted that recent events at Disney, with 43% of investors withholding their vote for Michael Eisner, prove that a proposal such as S7-19-03 is needed and is long overdue.
Thank you for your time,
Paul F. Hofmann