I've done a fair amount of research into the rules and regulations surrounding
IBM share holder proposals.  If you want to do one, it needs to be submitted to
IBM by November 15, by someone who has owned over $2,000 worth of IBM stock for
at least 1 year.  Any cosponsors also have to be submitted by November 15.

The SEC has a number of guidelines on what companies can exclude from
shareholder proposals;  information is on the following web site:

http://www.sec.gov/rules/final/34-40018.htm

Several key things to consider are you have to be able to state and defend the
proposal in 500 words or less.  And the proposal has to deal with something that
can't be claimed by the corporation as 'ordinary' business;  you need to be able
to clearly articulate why what you're asking for will benefit the shareholders.
Also, "each shareholder may submit no more than one proposal to a company for a
a particular shareholder meeting."

If any of you decide to proceed with some sort of shareholder proposal, contact
me offline and I'd be glad to share my experiences and contacts.

Janet Krueger
Andrews Consulting Group

===================================





I remind you that we are just about out of time to submit a petition that
will go in the next stock holder's meeting.  I do not know what should be
said in it.

Past year's petitions have been related to not shafting past employee pension
deals, and various standard business disclosure of director info.  It does
not seem to take much in the way of stock to launch one of these things.

All of the stock holders get copies of these things with the ballots for who
should be IBM directors.



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