Posted on 11/19/2004 12:04:33 PM PST by Ernest_at_the_Beach
fyi
Ellison has pull, huh?
Who is CalPERS really looking out for here?
Basically, Peoplesoft's managers are screwing the shareholders in order to keep their jobs.
Who's Carly Fiorina pulling for?
Yet I see they're still requiring employees and local government "Hangers On" to continue making contribs which had been suspended in the last half of "The Gay Nineties II !!!"
So much bribe money did the head pimp of Whoreacle have pay to CalPers to get this little favor?
CalPers, Whoreacle and the rats whose pensions are played games with, deserve each other.
I would imagine that Ellison might have spread a few crumbs from his enormous cash holdings.
Like his check to the former governor of California and then one to the crook, who is the CA AG?
CalPERS climbs back up
By Gilbert Chan Published 2:15 am PST Thursday, November 18, 2004
After the stock market downturn squeezed billions out of the California Public Employees' Retirement System in recent years, the pension fund has soared to record heights again.
Chief Investment Officer Mark Anson told trustees on Wednesday that assets reached $177.8 billion this week, finally surpassing the previous high of $176 billion in 2000.
The bear market later wrung roughly $30 billion in value out of the assets. But last fiscal year, CalPERS reversed a string of losses to post a strong 16.7 percent gain and add $22.7 billion to its portfolio.
In the past two months, Cal-PERS earned $10 billion, fueled by gains in corporate and high-yield bonds, stocks and real estate. The fund provides retirement benefits to 1.4 million local and state government workers.
"We knew we would get back there. It was always a question of when," said CalPERS President Sean Harrigan.
He said the gains will help improve the system's funding level. Since the market losses, Cal-PERS is funded at 84 percent for its state pension plans and 92 percent for its program for non-teaching employees. To help reduce the shortfall, contribution rates for most of its state pension plans have gone up.
The Board's responsibilities include setting employer contribution rates, determining investment asset allocations, providing actuarial valuations, and much more.
However, the Board does not have the authority to add, change, or delete benefits without the concurrence of the Legislature.
Sean Harrigan
President
Rob Feckner
Vice President
Board members
Sidney L. Abrams
Philip Angelides
Willie Brown, Jr.
Robert F. Carlson
George Diehr
Priya Sara Mathur
Michael T. Navarro
Mike Quevedo, Jr.
Kurato Shimada
Charles P. Valdes
Steve Westly
Dated: 05-07-2004
Norm might know about that, I don't.
Lockyer .. don't hear much from him of late.
Lockyer is probably not wanting the spotlight anywhere near him as the Perata FBI probe and Grand Jury are going down.
Angelides is deep in this CalPERS reform movement the last few years.
These guys were all 'leaders' of the Rat pack in the legislature and have ripped this state off with their corrupt ways and influence peddling..
Westly, the eBay boy must be loving it, Garamendi too. Their political odds get better every day.
To refresh your memory. Whoreacle gave our great AG $50,000 and herr Davis $25,000.
Lockyer returns Oracle's $50,000 contribution
... Later in the day, Oracle issued a statement saying Davis had decided to return a $25,000 contribution, but a ... KEYWORDS: BRIBE; CA; CALGOV2002; DAVIS; HUGHHEWITT; LOCKYEAR; ORACLE ...
www.freerepublic.com/focus/fr/680587/posts - 38k - Cached -
State official resigns after Oracle debacle - silicon.com
... handling of a $25,000 campaign contribution to Davis from Oracle. The campaign contributions were eventually returned ... Oracle 'bribe' scandal closes Californian IT department ...
management.silicon.com/government/0,39024677,10004295,00.htm - 41k - Cached - More from this site
Thanks to both of you for the memories....
We haven't heard much from Lockliar, after he said that he couldn't okay the signed petitions to remove Davis. We created such a hellstrom, he backed away from that position and okayed the petitions.
It is time to remind people that he took a $50,000 bribe er donation from Whoreacle before we blew the whistle on that illegal procedure.
this is a no-brainer for CalPers - PSFT is trading at truly astronomical prices given the tender offer. CalPers either takes the offer or lets the stock crash on Monday - a total violation of their fiduciary responsibility.
Basically, by holding off they have driven the stock price up. A comparison of Oracle, Peoplesoft and the NASDAQ doesn't support your claim. I'll try to post it below from Yahoo over the last two years. (The takeover is about 17 months old at this point). I would claim that to this point the bid by Ellison and the response by PSFT mgmt. has had the effect of driving the PSFT price up. In other words the board (who decides this) is doing the right stuff to maximiize shareholder profit. If they turn it down PSFT will collapse, and I would then agree with your premise. But at this time I can not. The available facts don't support it.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.