Posted on 11/27/2004 11:54:26 AM PST by NormsRevenge
Hope someone is taking a real good look at the health of those pension funds.
http://www.bakersfield.com/state_wire/story/5107285p-5153690c.html
Issues on which blue-state pension funds tackle Washington
The Associated Press
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Issues on which blue-state pension funds tackle Washington:
Global warming:
While the Bush White House and a Republican congressional majority have moved cautiously on global warming issues, Connecticut's Democratic State Treasurer Denise Nappier and her state's public pension funds are pressing investors to consider if their money contributes to climate change. Connecticut's funds and others worth $1 trillion organized an investor summit on global warming at the United Nations and workshops at Harvard University for pension fund trustees. Other participants include California, New York, Maine, Oregon, Vermont.
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Energy:
While Bush and Vice President Dick Cheney have oil industry backgrounds and many in the Republican congressional majority favor drilling in the Arctic National Wildlife Refuge, California's public employee pension funds are investing nearly $1 billion in a "green wave" of clean energy and technology. California pension fund officials are also pressing Detroit automakers to greatly reduce vehicle exhaust emissions. Car makers call it a backdoor attempt to force greater fuel efficiency in California. The Bush Administration has likewise opposed higher mileage standards for automobiles.
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Corporate governance:
While the nation's corporations are among the biggest financial backers of President Bush and Republican congressional leaders, public pension funds run by unions and Democrats are the loudest proponents of reforming how U.S. corporations govern themselves. With $2 trillion in assets, many funds want limits on executive salaries and investor rights to nominate board members. New York State's Democratic Attorney General Eliot Spitzer is a leading national crusader for corporate reform, far more visible than federal regulators. CalPERS and California Treasurer Phil Angelides have also been leading voices.
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Gay marriage:
While President Bush has called for a constitutional amendment to ban gay marriage, New York City Comptroller William Thompson, Jr., and Democrat-dominated city pension funds have pressed many corporations to adopt policies banning discrimination based on sexual orientation. New York State's Comptroller Allen Hevesi favors civil marriages for same sex couples, saying it would trim health care costs and boost tourism revenue.
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Sources: California Public Employees Retirement Fund, Offices of comptroller of New York City and New York state, Connecticut state treasurer's office.
They're picking a fight they can't win. Until these pension plans are given the power to enact laws, the more activist they become the more they will open themselves up to congressional regulation.
Describes the economic component of Fascism (which leads to the totalitarian component) to a "T", doesn't it?
Yep, let us invest in organic goat farms and camel dung as an alternative energy source. I'm sure 10 years from now as retirees ride in donkey carts and live in cardboard boxes they will appreciate these enlightened socialist investing schemes.
Short whatever these tofu munchers invest in.
Dangerous game. Let one company run into trouble and blame it on something a pension fund "required" them to do. Someone could end up getting a whoooooole lot of unwanted publicity.
CalPERS fyi ping
Hope you're having a good holiday.
In PA, when the teacher's union pension has a shortfall, the state has to make up the difference. We could all be paying higher taxes because of their mismanagement.
Yep, the liberals playing politics with the pension funds. This will jump up and bite them one day. Parley
There's a CALPERS ping list? If so, please add me to it.
Government officials / appointees should not dominate pension boards. Public employees / retirees should hold the majority of the seats. The money belongs to the employees / retirees after all. It changes ownership when it transfers from the government checking account to the pension checking account.
There is a movement in Houston to place the city pension under city government control. For some unexplained reason, the right wing radio station has been walking hand in hand with the mayor to give government more control. In fact, Freepers have been on board with the mayor in his pension pursuits when relevant threads pop up.
Aren't pension fund managers held accountable for the performance of their funds? I think some of these lefties may be looking at some big investor lawsuits.
I know their is no "teacher's union pension" in Pennsylvania. It is a simple public plan.
We could all be paying higher taxes because of their mismanagement.
I can't figure out the antecedent here. Does "their mismanagement" refer to the pension or the state?
Perfect! More power to them! An investment driven by criteria external to investing per se (social agendas, PC boycotts etc) generally underperforms. Underperforming lefty pension fund is a recruitment tool for the righties, correct?
Mismanagement is a nice name for it :)
My first thought also. Your tax dollars at work.
fyi
The liberals believe that it's "their money" and can do what they want with it. Hope the retirees sue their asses off.
State employees are the most anally retentive liberals. They would actually rather suffer monetary loss than give up on their nonsensical social justice ideals. Every public employee/AFSCME type I have ever talked to has left me shaking my head in disbelief and frustration.
Today was suppose to be the light traffic day....good luck to those coming home tomorrow....
As the storm hit in the basin with Fog and Rain the traffic was backed up the entirety of the Cajon Pass from top to bottom and to the north end of Victortille.....just incredible....
Since I knew many of the local streets I was able to bypass many miles of it....I don't want to do a quicky holiday vacation trip again ..
Well for awhile at least........rain thruout the LA Basin....high Winds in the High Desert....such fun!!!
Seeing Kith and Kin and having great food was pretty good though!
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