[Grampa Dave]

Thank you re the link to: Here's the link to the info on Yucaipa!

Isn't Free Republic Great! What makes it great are the great research bloodhounds like you! You know that is not an insult and is a sincere compliment!

[d14truth]

With California the 5th largest economy in the world, wouldn't CalPERS be the 2nd largest 'retirement' trust fund, or do Germany, Japan, and the U.K. have similar 'unfunded' vehicles?

[CdMGuy]

Calpers has a fiduciary responsibility to safeguard the pension funds on deposit with them. In my opinion, investing in a winery start-up is a violation by the Calper's board of its legal responsibility.

If a private pension committee did the same thing, the Feds would be all over them. The end result likely will be that these investment funds will yield substandard returns, and quite possibly lost entirely. The taxpayers of California will pay for this.

In the meantime, Calpers has the audacity to criticize the boards and executives of public corporations. Gateway, the computer company, was just criticized by Calpers for its failure to run its business properly. Sounds like the pot calling the kettle black.