California: Pension fund acts on agenda - CalPERS' board takes heat for its investment activism.

The Orange County Register ^ | Sunday, October 13, 2002 | MARY WILLIAMS WALSH The New York Times

[Ernest_at_the_Beach]

The California Public Employees' Retirement System, perhaps the nation's most prominent champion of shareholder rights, has never suffered from an ill that plagues corporate America: a passive board, unable to thwart managers' worst instincts.

In fact, CalPERS, as it is known, is showing signs of the opposite problem, some critics say: a board so activist, so eager to promote social change through investing, that its effectiveness as a corporate watchdog and its ability to provide for the 1.3 million public employees whose pensions it guarantees are in question.

[Ernest_at_the_Beach]

...to see what bad, bad things Davis has done... - CLICK HERE

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[John Jorsett]

Asked in an interview whether investments aimed at poor communities were too risky, Angelides pointed to the enthusiasm with which CalPERS and other institutional investors pumped billions into places like Indonesia and Thailand in the late 1990s - investments that in many cases soured. How, he asked, could anyone credibly say an investment in an "emerging" California community was too risky?

Well, that's an interesting point of view. "We can lose money just as easily at home as abroad."

[Ernest_at_the_Beach]

Or , support your at home crooks first please!

[Enough is ENOUGH]

Check this out.

As far as the public employees retirement (PERS) and State Teachers retirement (STRS) systems are concerned, I hope they get what they deserve if they allow their pension funds to be used for quid pro quo payback and risky overseas investments. Maybe then they'll begin to wake up.

Simon may not be exposing the subterranean underground radical leftists' agenda to the electorate as well as we would expect of him but this mold residue must be stopped. If Simon doesn't win I fear California will be lost forever.

[Ernest_at_the_Beach]

I remember reading that in the paper , and it was posted here:

The fine art of plunder

[NormsRevenge]

GO SIMON

***

Tom McClintock for CA State Controller


***

Dick Ackerman for CA Attorney General

[Enough is ENOUGH]

I remember reading that in the paper , and it was posted here:

Spread the word. I've talked about it at work and at restaurants about how deceptive and fraudulent Prop 51 is. I've noticed people listening to my comments. I hope the prediction in the OCR doesn't ring true:

I'd suspect that Californians will do what they always do - vote to raise their own taxes in the name of the environment and the children.