Information AboutCalpers |
| CATEGORIES ABOUT CALPERS | |
| government of california | |
| retirement in the united states | |
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CALPERS SHAREHOLDER PROPOSALS Being one of the largest owners in the world (and the third largest purchaser of employee health benefits in the nation), CalPERS has attempted to use this power to change the way certain things are done in business. For example:
PRAISE AND CRITICISM CalPERS has been both praised and criticized by some for its shareholder activism. Many feel that the organization has well represented the will of the employees whose pensions it manages by pushing for a wide array of causes, ranging from greater fiscal responsibility to social justice. Some others argue that this unduly interferes with business, is backed by a political agenda (citing the dominance of Democrats on CalPERS' board), and further encourages the belief that California is "anti-business." A recent president of CalPERS, Sean Harrigan, was removed from his position in December 2004, amid criticism for his activism on matters of corporate governance. He claimed his removal was politically motivated.http://www.usatoday.com/money/2004-12-01-calpers-president-ousted_x.htm CalPERS has been criticized for being foolish to invest in "toxic waste" CDOs before the July 2007 mortgage meltdown,http://www.bloomberg.com/apps/news?pid=20601109&sid=aW5vEJn3LpVw&refer=news and for not publicly addressing the issue.http://wcvarones.blogspot.com/2007/08/wheres-calpers.html REFERENCES EXTERNAL LINKS |
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