Tag Archives | CalPERS

SSgA critical of GHG short-term

SSgA Critical of GHG Short-Term Disclosures

SSgA critical of GHG short-term perspective offered up by oil and gas, mining and utility disclosures on addressing greenhouse gas emissions. If we are to maintain a salubrious environment, much of the coal and oil will turn out to be stranded assets. Given that reality, I reallocated most positions I had in this sector to […]

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2019 CalPERS CalSTRS Diversity Forum

2019 CalPERS CalSTRS Diversity Forum

2019 CalPERS CalSTRS Diversity Forum lived up to its billing as a unique opportunity to engage with industry leaders and experts on diversity and inclusion topics such as: The “Why” and “How” of driving diversity and inclusion Building and sustaining a positive corporate culture Human Capital Management metrics and their value to investors In the following […]

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listing standards valuation-dual-class-firms

Listing Standards Requested by CII

Listing standards change sought by the Council of Institutional Investors (CII). CII filed petitions with the New York Stock Exchange (NYSE) and the NASDAQ, asking both to limit listings of companies with dual-class share structures. They have taken the right approach to address a growing problem. I hope it ends a worldwide race to the […]

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CSR Investments

CSR Investments May Someday Drive CalPERS

CSR investments may someday drive investments at CalPERS. That possibility is many years off but may a get start at the California State Retirees (CSR) Delegate Assembly, held October 22-23 in Sacramento. CSR is smaller than many of the unions representing currently employed public employees in California but our members vote. (more…)

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SB 826

SB 826: Sidley Austin LLP Update

SB 826 requires specified California-based public corporations to include women directors on their board. Sidley Austin LLP put out a bulletin on the topic. To ensure it receives widespread circulation, I am reproducing its main text below, with one minor change to break up an absurdly long sentence. (more…)

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Impact Investing - American Century Survey

Who Wants Impact Investing?

“Impact investing” – financial investments designed to generate a measurable, positive impact on society, while also providing potential returns – is growing in popularity, according to new research conducted by American Century Investments. The “appeal” of impact investing reached 49% among 2018 survey participants, compared to 38% in 2016. At 56%, Millennials find impact investing […]

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CalPERS Watch Dogs Flaherman and Brown

Elect Flaherman and Brown to CalPERS

Keep CalPERS healthy; vote for Flaherman and Brown. Ballots have been mailed out to more than 1.5 million CalPERS members. They must be received by October 2nd to count. This is probably the most important election the $333B+ System has ever held, given how the board isolated and ostracized current director J. J. Jelincic for […]

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CalPERS Muzzles Critics

CalPERS Muzzles Critics: Michael Flaherman Runs

CalPERS muzzles critics. The following editorial appeared in the Sacramento Bee on May 25, 1999. The editorial references a “technical violation of board rules” by then Chairman William Crist. Actually, it was a clear violation of the rules, which prohibited changes to candidate statement after submission. No candidate in the history of CalPERS had ever […]

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Diversity Forum: Billy Dexter, Dorthy Leland, Susan Reid, John Bowman and Julianne Haskell

California Diversity Forum 2017: Part 2

CalPERS and CalSTRS sponsored the California Diversity Forum in Sacramento (“America’s Most Diverse City”) on Wednesday, May 12, 2017, bringing together investment and corporate executives to discuss how to better capitalize on the abilities of the diverse modern workforce. Diversity is both morally right and profitable. Narrowing the global gender gap would add $12 trillion in […]

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Starting close to equal, women get squeezed out

California Diversity Forum 2017: Part 1

CalPERS and CalSTRS sponsored a diversity forum in Sacramento on Wednesday, May 12, 2017.  The goal of the Diversity Forum was to bring together investment and corporate executives to discuss how to better capitalize on the abilities of the diverse modern workforce. While I think diversity should be adopted simply because it is morally right, […]

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ESG

Report from CII Winter Meeting: ESG

Even in Washington, the numbers are impressive. The Council of Institutional Investors, who met in Washington DC this week, represents 23 trillion (with a t) dollars, mostly made up of retirement and other savings of working families. Compare that to the entire budget of the US government, less than two trillion a year. Like most […]

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Rich Ferlauto on Climate Competency

Climate Competency Needed in Boardrooms

Large institutional investors, concerned about portfolio risks stemming from the effects of global warming, are calling for climate-competent boards and directors as part of their fiduciary responsibility to preserve and enhance the long-term value of their investment assets. Despite the anticipated rollback of climate related governmental policies such as the Environmental Protection Agency’s Clean Power […]

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3D Joins Equilar Diversity Network

3D Moves to Equilar – Diversity Benefits

3D Moves to Equilar. The California State Teachers’ Retirement System (CalSTRS) and the California Public Employees’ Retirement System (CalPERS) today announced the Diverse Director DataSource (3D) will now be available through the Equilar Diversity Network. The new partnership marks an exciting milestone for the 3D, a database the two pension funds jointly developed in 2011. 3D […]

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divesting-tobacco

Tobacco Investments: CalPERS Webinar

Tobacco Investments Update Apparently, CalPERS sent invitations out on 9/27, 10/6 and 10/13 to about 400 people. Although I am on mailing lists for press and rulemaking, I wasn’t on the “stakeholders” mailing list. That has now been corrected going forward.  The webinar was brief. CalPERS Chief Operating Officer Wylie Tollette reviewed CalPERS’ prior tobacco divestment actions, […]

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, Case-by-Case Fiduciary Counsel

Fiduciary Counsel Sought by CalPERS

Full-time fiduciary counsel sought by CalPERS to provide specialized fiduciary advice to the system’s board and staff. CalPERS announce that former(?)/current(?) fiduciary counsel Robert Klausner can bid for the same contract he’s being pushed out of… where he  quoted the lowest price per hour of the finalists. According to Pensions&Investments (CalPERS issues call for fiduciary counsel),  (more…)

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CalPERS Actuary Estimate re source of pensions

CalPERS Chief Actuary: Help Wanted

Chief Actuary position open at the California Public Employees’ Retirement System (CalPERS). Search underway for a new Chief Actuary to lead its Actuarial Office. Incumbent will provide independent counsel to CalPERS leadership and Board on actuarial valuations, assumptions and policies, rate structure, and funding of the CalPERS System and related funds. This search is being led […]

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CalPERS Election Rules

CalPERS Election Rules: Comments

CalPERS election rules, an obscure topic for most. Although the board of administration of CalPERS is very powerful, interest in CalPERS election rules is low. When proposed rules were discussed at a recent public meeting, I was the only one to provide any feedback. I expect that when there is a public hearing on the […]

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A Response to Yves Smith on CalPERS

Yes, The Twelve Days of CalPERS by Yves Smith at naked capitalism is very witty, but it plays into the hands of those who would like to see public pensions dismantled. I like some of the work Yves Smith has  have been reporting on CalPERS, which obviously needs not only watching but needs to be constantly reminded of its […]

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Reeds Delivered a Corrected Proxy for Christmas

Reeds Delivered a Corrected Proxy for Christmas

There it was under my tree, Reeds delivered a corrected proxy for Christmas! Santa has finally been good to Reeds (REED) shareholders. I’m tacking notification of the corrected proxy as a sign that Founder/CEO, Christopher Reed might be at the start of a new attitude toward  SEC rules and corporate governance, I changed my vote. […]

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CalPERS Discloses Proxy Votes

CalPERS Discloses Proxy Votes in Advance of Meetings

Investors and the public interested in how the California Public Employees’ Retirement System (CalPERS) casts its proxy votes on key decisions in corporate America can now find that information on the CalPERS website. CalPERS Discloses Proxy Votes CalPERS has expanded its online disclosure of proxy voting decisions to include those for all publicly held companies […]

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Medtronic

Medtronic PLC: How I Voted – Proxy Score 44

Medtronic PLC ($MDT) manufactures and sells device-based medical therapies worldwide. Medtronic is one of the stocks in my portfolio. Their annual meeting is on December 11, 2015. ProxyDemocracy.org had collected the votes of two funds when I checked.  I voted with the Board’s recommendations 44% of the time. View Proxy Statement. Read Warnings below. What follows are my recommendations on how to vote the proxy […]

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WDFC

WD-40 Company (WDFC): How I Voted – Proxy Score 100

WDFC develops and sells maintenance products, and homecare and cleaning products. WDFC is one of the stocks in my portfolio. Their annual meeting is on December 8, 2015. ProxyDemocracy.org had collected the vote of one fund when I checked.  I voted with the Board’s recommendations 100% of the time. View Proxy Statement. Read Warnings below. What follows are my recommendations on how to vote the proxy in […]

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anti-fracking-march

Bay Area Workers/Unions Unwittingly Finance Fracking Boom

Bay Area workers and unions are increasingly joining the climate justice movement, but their pension funds have been quietly investing in the oil and natural gas boom. Deep in the heart of Texas, the oil industry is still going strong. Take Navitas Midstream, a private corporation that specializes in transporting fossil fuels. Navitas is currently […]

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proxy access

Replay the Glass Lewis Conference Call on Proxy Access

On Thursday March 5th proxy advisor Glass Lewis held a conference call to discuss proxy access, i.e. the right for shareholders to place their director nominees on company proxies, instead of having to pay for a separate proxy and solicitation. The New York City Comptroller, Scott Stringer has taken the lead on proxy access this […]

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apple

Apple: The Case for Proxy Access

Update: Preliminary voting results indicate that our proxy access proposal got 39% of the vote. Yes, the proposal could have been worded to more closely conform to the Rule 14a-11 standards. Hopefully, Apple got the message and will propose a “best practices” revision of their articles and bylaws as needed for the 2016 annual meeting. […]

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the engagement pyramid

Video Friday: Triple Feature on Shareholder Engagement

Engagement is, or should be, the common theme of our three videos. CalPERS argues it gives them a seat at the table. Professor Damodaran extols the importance of engagement as a possibility. As a shareholder, what avenues are open? In Davos, I think they looked through the wrong lens. Instead of engagement, they focused on an […]

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