41.  Hammes is also a paid independent director of several Heartland mutual funds, including the two bond funds.

42.  He also serves as an independent director of the Putnam funds and has sat on the boards of several publicly traded companies.

43.  He has been pleased with the actions of the new chief executive, Thomas O. Ryder, to add independent directors, sell some noncore assets and reduce costs.

44.  He then served as an independent corporate director and a consultant for several companies.

45.  He was an independent director of the Barnwell Funds, a group of mutual funds.

46.  He was also an independent director of the Professional Golf Association Tournament policy board.

47.  However, Levitt noted, many funds already have boards that are three-quarters independent directors or already have self-nominating independent directors.

48.  In addition, he said, the independent directors should make sure that if their companies have rules governing personal trading by employees, the companies are enforcing them.

49.  In recent weeks, ITT decided to auction the company to the highest bidder, creating an committee of independent directors to consider all bids.

50.  In return, Scios says it will add two independent directors to the Scios board.