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By BLOOMBERG NEWS | September 8, 2004
SAN FRANCISCO - The California Public Employees' Retirement System, the largest U.S. public pension plan, with $166 billion of assets, was sued yesterday for failing to disclose the fees it pays managers of venture capital and hedge funds. Taxpayers and state workers who depend on CalPERS for their retirement have a right to a breakdown of costs that amount to about $500 million a year, according to the suit filed by the California First Amendment Coalition in a state court in San Francisco.
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NEWS
December 6, 2004
THE PRESIDENT of the nation's largest public pension fund was ousted from its board last week - and that could have ramifications for anyone invested in stocks. An aggressive advocate of corporate governance reforms, union leader Sean Harrigan led CalPERS - the California Public Employees Retirement System - to the front lines of the post-Enron campaign to clean up corporate boardrooms and wrest more corporate control away from management to shareholders. In that, CalPERS has more than a bully pulpit.
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NEWS
December 6, 2004
THE PRESIDENT of the nation's largest public pension fund was ousted from its board last week - and that could have ramifications for anyone invested in stocks. An aggressive advocate of corporate governance reforms, union leader Sean Harrigan led CalPERS - the California Public Employees Retirement System - to the front lines of the post-Enron campaign to clean up corporate boardrooms and wrest more corporate control away from management to shareholders. In that, CalPERS has more than a bully pulpit.
BUSINESS
By BLOOMBERG NEWS | September 8, 2004
SAN FRANCISCO - The California Public Employees' Retirement System, the largest U.S. public pension plan, with $166 billion of assets, was sued yesterday for failing to disclose the fees it pays managers of venture capital and hedge funds. Taxpayers and state workers who depend on CalPERS for their retirement have a right to a breakdown of costs that amount to about $500 million a year, according to the suit filed by the California First Amendment Coalition in a state court in San Francisco.
BUSINESS
By NEW YORK TIMES NEWS SERVICE | April 3, 1996
In an unusual move, the California public employee pension fund, known as Calpers, has asked court permission to join in shareholder lawsuits pending in New York State Supreme Court against officers and directors of W.R. Grace & Co.The giant fund's goal, it says, is to recover for Grace some of the millions that were paid to two former top executives who left the company under a cloud.A lawyer for the fund said the move reflected the Calpers concern that the lawyers now representing shareholders were not being aggressive enough in trying to recover more than $12 million in supposedly excessive retirement pay and benefits paid to J. Peter Grace in 1993 and 1994.
BUSINESS
October 14, 1994
Comcast-CalPERS joint ventureComcast Corp. and the nation's largest public investment fund will invest $555 million in a joint venture to acquire cable television systems, the companies announced yesterday.The first purchase to be undertaken under the agreement between the California Public Employees' Retirement System, known as CalPERS, and Comcast will be the $1.27 billion acquisition of the U.S. cable TV operations of Maclean Hunter Ltd.Maclean parent Rogers Communications Inc. of Toronto agreed in June to the sale, which would give Comcast more than 3.5 million subscribers, making it the nation's third-largest cable operator.
NEWS
February 4, 1992
The contraction in homebuilding may have pushed the American Dream further out of reach for millions of potential buyers by choking off competition. Tougher credit policies following the savings and loan debacle have killed financing for many smaller builders, forcing them into bankruptcy. Whatever business exists is being handled by larger home builders, ultimately translating into less choice and higher prices for buyers. This poses profound implications not only for purchasers, but local economies inextricably linked to the ebb and flow of residential real estate.
NEWS
By Neal R. Peirce | July 26, 1999
SACRAMENTO -- Why should America's public pension funds -- the life savings of America's state and local government workers -- be invested overseas, when better returns are often available from investments in our own cities?That's the kind of disturbing question that Philip Angelides, California state treasurer since last January, has been asking.It turns out that CALPERS -- the California Public Retirement System in which Mr. Angelides plays a key role -- has $35 billion invested in 48 countries worldwide.
BUSINESS
By Bloomberg Business News | January 1, 1994
Consider what happened this year: James Robinson III, American Express Co. chairman and chief executive officer, was unceremoniously toppled by his board.So were John Akers of International Business Machines Corp., and Paul Lego of Westinghouse Electric Corp. Kay Whitmore of Eastman Kodak Co. was fired. And just last month, Anthony D'Amato of Borden Inc. was shown the door.What's more, for every IBM or Kodak, there was a small or midsized company that parted with its chief executive.Among them, Egghead Inc., General Instrument Corp.
BUSINESS
By David Conn and David Conn,Sun Staff Writer | June 14, 1994
Brown Capital Management Inc., a Baltimore-based investment firm, yesterday announced that it had received a five-year deal to manage $100 million of retirement funds for a California pension plan.The 11-year-old company, which also is one of the nation's largest minority-owned investment firms, is managing the domestic equity growth portfolio for the California State Teacher's Retirement System (CALSTERS), according to Eddie C. Brown, president and founder."It's the largest initial funding we have had in our 11 years," said Mr. Brown, who is 53. The contract provides for CALSTERS to add to the portfolio if Brown meets its performance goals.
NEWS
By Neal R. Peirce | July 26, 1999
SACRAMENTO -- Why should America's public pension funds -- the life savings of America's state and local government workers -- be invested overseas, when better returns are often available from investments in our own cities?That's the kind of disturbing question that Philip Angelides, California state treasurer since last January, has been asking.It turns out that CALPERS -- the California Public Retirement System in which Mr. Angelides plays a key role -- has $35 billion invested in 48 countries worldwide.
BUSINESS
By NEW YORK TIMES NEWS SERVICE | April 3, 1996
In an unusual move, the California public employee pension fund, known as Calpers, has asked court permission to join in shareholder lawsuits pending in New York State Supreme Court against officers and directors of W.R. Grace & Co.The giant fund's goal, it says, is to recover for Grace some of the millions that were paid to two former top executives who left the company under a cloud.A lawyer for the fund said the move reflected the Calpers concern that the lawyers now representing shareholders were not being aggressive enough in trying to recover more than $12 million in supposedly excessive retirement pay and benefits paid to J. Peter Grace in 1993 and 1994.
BUSINESS
October 14, 1994
Comcast-CalPERS joint ventureComcast Corp. and the nation's largest public investment fund will invest $555 million in a joint venture to acquire cable television systems, the companies announced yesterday.The first purchase to be undertaken under the agreement between the California Public Employees' Retirement System, known as CalPERS, and Comcast will be the $1.27 billion acquisition of the U.S. cable TV operations of Maclean Hunter Ltd.Maclean parent Rogers Communications Inc. of Toronto agreed in June to the sale, which would give Comcast more than 3.5 million subscribers, making it the nation's third-largest cable operator.
BUSINESS
By Bloomberg Business News | January 1, 1994
Consider what happened this year: James Robinson III, American Express Co. chairman and chief executive officer, was unceremoniously toppled by his board.So were John Akers of International Business Machines Corp., and Paul Lego of Westinghouse Electric Corp. Kay Whitmore of Eastman Kodak Co. was fired. And just last month, Anthony D'Amato of Borden Inc. was shown the door.What's more, for every IBM or Kodak, there was a small or midsized company that parted with its chief executive.Among them, Egghead Inc., General Instrument Corp.
NEWS
February 4, 1992
The contraction in homebuilding may have pushed the American Dream further out of reach for millions of potential buyers by choking off competition. Tougher credit policies following the savings and loan debacle have killed financing for many smaller builders, forcing them into bankruptcy. Whatever business exists is being handled by larger home builders, ultimately translating into less choice and higher prices for buyers. This poses profound implications not only for purchasers, but local economies inextricably linked to the ebb and flow of residential real estate.
NEWS
By NEW YORK TIMES NEWS SERVICE | January 31, 2003
The federal government announced its largest settlement ever in a discrimination lawsuit yesterday when California's giant state pension fund agreed to pay $250 million to disabled public safety officers who sued over age discrimination. The Equal Employment Opportunity Commission said the money would be paid to 1,700 disabled police officers, firefighters and other safety officers whose disability benefits were reduced based on their age when they were hired. Under a 24-year-old California law, a public safety officer hired at age 30 was to receive 50 percent of salary when disabled, someone hired at 35, 40 percent, someone hired at 40, 30 percent, and someone hired at 45, just 20 percent.
BUSINESS
By BLOOMBERG NEWS | March 23, 2004
The California Public Employees' Retirement System and five other pension funds this week will demand a meeting with Walt Disney Co.'s board to press directors to name a successor to Chief Executive Officer Michael D. Eisner, people familiar with the matter said. The New York State Common Retirement Fund, California State Teachers' Retirement System and pension funds in Ohio, Connecticut and North Carolina will join CalPERS, the largest U.S. pension fund, in sending a letter to Disney Chairman George J. Mitchell and the rest of the Disney board, said the people, who asked not to be named.
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