From: CHARLES MCCONNAUGHEY [ustwotoo@prodigy.net]
Sent: Wednesday, October 23, 2002 7:57 PM
To: rule-comments@sec.gov
Subject: Mutual fund mgrs. stating proxy votes

Gentle People, 

I, along with many investors like me have lost hundreds of thousands of
 retirement dollars recently. At 62yrs. of age it is very unlikely I'll 
 be able to recoup these monies. 60 to 70 % of these dollars were in 
 mutual funds monitored by people who were supposedly looking after my 
 interests and others. I thought I had diversity, large cap, mid cap, 
 small cap. global, Latin Am., European  and 500 index along with indexed 
 bond funds.  We are still down 18% for the yr,  not counting my wife 
 and I's maxed out contributions, todate.  With this being said, why in 
 the world would I and others not want to know what these mgrs. are doing 
 with our voting proxies of companies they invest in for us? Knowledge 
 is power and the people deserve all the power of knowledge that can be 
 generated  for them.   An example: I read glowingly of the CEO of 
 Pepsico donating his million dollar salary to his Pepsic! o employees. 
 Very admirable, until I saw that he had also took the time to exersized 
 one of his stock options for well over a million shares of Pepsi at a 
 little over $5.40 strike price. The going price that day? $40 plus dollars. 
 Wouldn't he be just great if he passed the option on to the investors, 
 kept the salary and let the workers keep on working!!!! Wouldn't I want 
 to know that my fund mgrs. voted to have them state these Pepsi options 
 on the debit side of their accounting ledger?  This rule change is a no 
 brainer. Get it done!!! We don't have much respect for either side in 
 this equation, fund or corporation as I. write.