California: Can CalPERS Afford to Throw Stones?

Business Week Online ^ | JUNE 24, 2002 | Christopher Palmeri

[Ernest_at_the_Beach]

The California Public Employees' Retirement System (CalPERS) earns its reputation as the world's corporate governance bulldog. With the annual meeting season in full swing, the nation's largest pension fund has been using its market clout to press for change at such poor performers as Lucent Technologies, Qwest Communications International, and Gateway. CalPERS' brand of activism has such a powerful impact on stock prices that finance professors have dubbed it "the CalPERS effect."

[NormsRevenge]

Revelations that the fund knew about--but never blew the whistle on--Enron Corp. Chief Financial Officer Andrew S. Fastow's self-dealing partnerships were a big embarrassment. The board is increasingly pushing social and political criteria in investment decisions.

The Liebral Socialist Wrecking Crew and yur hard earned dollars at work.



GO SIMON

[Enterprise]

There's an old saying about liberals. Put them in charge of the beach and it won't be too long before they have to import sand. I hope the 1.3 million California Employees understand the impact of having liberals in charge of their retirement money. A 14 billion dollar retirement system can be squandered as easily as a 20 billion dollar surplus.

[Ernest_at_the_Beach]

Isn't that the truth!

Table: CalPERS' Cozy Connections

RONALD BURKLE
The Los Angeles billionaire has donated to campaigns of two CalPERS board members and to Davis, and he has employed two board members. CalPERS is investing $760 million with Burkle, a money manager.

PHILIP ANGELIDES
California state treasurer; up for reelection in November. Took more than $430,000 in campaign funds from unions in past two years. Has pushed CalPERS to invest in countries meeting social criteria such as having an active labor movement.

RICHARD WOLLACK
Co-founder of Premier Pacific Vineyards, an investment firm specializing in vineyards, in which CalPERS invested $100 million in March. A longtime supporter of Governor Gray Davis, he hosted a $2,500 per head fund-raiser for him in May.

[Ernest_at_the_Beach]

And an additional graphic:

[eureka!]

Nicely done. I wouldn't be surprised if there's a whole lot of skeletons in CalPERS' closet since Grayout has been in office...

[Ernest_at_the_Beach]

It's interesting, that the article was not aimed at exposing anything about Davis.
That was kind of a side point!
But it would seem that some in the journalist community know more than they are telling! I guess that is not a surprise!

[Grampa Dave]

Ernest, thanks for the find and posting it as a thread.

Remember, grand children, that Grampa Dave has been warning you about Cal Pers for about a year now.

When these two conservatives leave, the Cal Pers board will be dominated by either socialist Rats or Fascist Rats.

Just remember what the Socialists Rats in the Kali legislature did with their Fascist Leader, Herr Davis, to the 12 to 14 billion state surplus they inherited when Herr Davis became their head elite fascist in Kali.

Coming soon to the investors in Cal Pers, the fabulous T$rd Whirled Junk Used Electricity Bonds that will not find many buyers on Wall Street on in Chicago in the bond market.

[eureka!]

"But it would seem that some in the journalist community know more than they are telling! I guess that is not a surprise!"

I am sure there are other stories lurking. One that seemed to come and go involved a federal corruption investigation and a "John Doe" politician believed to be Grayout. Methinks when the presstitutes see that he is toast, they may pile on so as to get in the good graces of the next governor: Bill Simon....

[Liz]

Coming soon to the investors in Cal Pers, the fabulous T$rd Whirled Junk Used Electricity
Bonds that will not find many buyers on Wall Street on in Chicago in the bond market.

Jeepers, Gramps, sounds like a Rob Reiner Grade C film that's goin' straight to video......LOL.

[Grampa Dave]

Who was the Follywood director/producer, and I think writer. Who used to come out with those below Grade horror flicks. They went directly to the video market for two weeks and then to the late Friday/Saturday nite horror flicks on the C channels. Was that Roger Korman (sp?)

[Liz]

Who was the Follywood director/producer, and I think writer who used to come out with those below Grade horror flicks? They went directly to the video market for two weeks and then to the late Friday/Saturday nite horror flicks on the C channels. Was that Roger Korman (sp?)

Yup, Roger Korman is part of that Hollyweird genre. Vincent Price was a
fixture in those films. They were so bad they were excellent conversation pieces.

Also, Samuel Z Arkoff should be credited with inciting American International Pictures' numerous,
vacuous "beach party" flicks starring Frankie Avalon and Annette Funicello, and lots of bikini-clad starlets.

[Grampa Dave]

As usual, our conservative babe/lady, Liz, has these important answers to our not too important questions!