From: Scott Baker []
Sent: Tuesday, March 30, 2004 11:55 AM
Subject: S7-19-03

I support the proposed rule change regarding Security Holder Director Nominations.

The current system is very broken. It does not really allow shareholders a voice in the corporate governance process. For example, even though Walter Hewitt won support from almost half of the shareholders in his fight against HP's merger with Compaq, the rest of the board did not nominate him for another term, effectively bouncing him off the board. Shareholders did not get any say in this.

The proposed rule change would allow shareholders more of a voice in the nomination process. Though the proposed limits and conditions make little sense, I think the proposed changes would be a substantial improvement over the current system.