From: Anonymous [Salubricat@aol.com]
The SEC rule would simply allow investors to nominate a director on equal terms with management's choices; the rule wouldn't grant them an automatic seat. But corporate insiders have trouble envisioning a system where nomination is not tantamount to election (i.e., one where shareholder votes matter). Insiders contend that fair, honest elections for directors would prevent corporations from functioning. We use elections to choose our political leaders to make life and death decisions, but that system is too risky for corporations, bull.
Please fix this system. My children can't be burdened with Enrons, Tycos and Worldcoms in 25-30 years. If they are burdened then social security will have to pay for me and my wife in old age, instead of our being able to take care of ourselves.