Subject: Comments On File No. S7-25-97
Date:    11/24/97 1:48 PM
     
     
> Chairman Arthur Leavitt
> Securities and Exchange Commission 
> 450 5th Street NW
> Washington, D.C. 20549
> 
> Dear Chairman Leavitt:
> 
> I strongly object to the SEC's proposed ruling, S7-25-97.  This
> ruling would seriously undermine the shareholder process and give 
> companies free rein to make dangerous, shortsighted management
> decisions without review by, or accountability to their investors. 
> 
> Today's shareholder process is a powerful tool of democracy.  It has 
> led to many changes in corporate behavior concerning environmental
> protection, equal opportunities for women and minorities, an end to 
> the use of child labor, and racial justice in South Africa.
> 
> Adoption of S7-25-97 would seriously inhibit the ability of share- 
> holders and corporate decision-makers to find real solutions to urgent 
> social, environmental, labor, and human rights issues.  Corporations 
> are an integral part of the community.  They must *always* be held 
> accountable to their society. Adoption of S7-25-97 would not only 
> weaken this accountability--it would harden the cynicism of many
> people around the world towards corporate America. 
> 
> Sincerely,
> 
> Joanne M. Callahan
> 4010 White Swan Drive
> Garland, TX  75044
> (972)530-5427
> e-mail:  jmcalla1@airmail.net