Tag Archives | CalPERS

Quiet Engagement Better Than "Name and Shame"

A corporate governance engagement analysis, conducted for CalPERS by the Wilshire investment consulting firm, shows private talks are more productive than the public scrutiny of a Focus List of firms that resist reforms. The study supports CalPERS move to abolish use of its “name-and-shame” (more…)

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CalPERS Dumps Mtn Top Removal Project

After pouring $200 million into vineyards across California, Oregon and Washington, CalPERS said this week that it is firing the firm that has been its investment partner and land manager. The investment has lost 40 percent of its value and was worth $122 million as of March 31, the latest figures available. The California Public Employees’ […]

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Sacramento Kings: Dear & Ailman

Nice play on words by ai-cio.com on the title of their article, Sacramento’s Kings, interviewing two of the most influential chief investment officers in America: Chris Ailman of the California State Teachers’ Retirement System (CalSTRS) and Joe Dear of the California Public Employees’ Retirement System (CalPERS). Of course, Sacramento is also home (perhaps temporarily) to […]

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$4.5 Million in Bonuses at CalPERS

“Top administrators and investment managers at the California Public Employees’ Retirement System were awarded $4.5 million in bonuses, averaging 41% of their base salaries for the year that ended June 30,” according to a report in the Los Angeles Times. (CalPERS awards $4.5 million in bonuses to managers, 10/8/2011) The bonuses ranged from a high […]

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$4.5 Million in Bonuses at CalPERS

“Top administrators and investment managers at the California Public Employees’ Retirement System were awarded $4.5 million in bonuses, averaging 41% of their base salaries for the year that ended June 30,” according to a report in the Los Angeles Times. (CalPERS awards $4.5 million in bonuses to managers, 10/8/2011) The bonuses ranged from a high […]

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Brown Didn't Take Easy Path on CalPERS Bills

California’s Governor Jerry Brown signed signed Assembly Bill 873, which prohibits former CalSTRS and CalPERS board members and high-level executives from lobbying their former employers for ten years.  The bill is the most stringent measure yet to get at the “placement agent” scandals that in wrote about back in 1997. In his signing message, Brown noted […]

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Brown Didn’t Take Easy Path on CalPERS Bills

California’s Governor Jerry Brown signed signed Assembly Bill 873, which prohibits former CalSTRS and CalPERS board members and high-level executives from lobbying their former employers for ten years.  The bill is the most stringent measure yet to get at the “placement agent” scandals that in wrote about back in 1997. In his signing message, Brown noted […]

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3D System Live: Will Directors Be More Accountable?

Beginning today, applicants with the skills and experience to be a candidate for a corporate director’s seat can submit their profiles through the Diverse Director DataSource – “3D” program. Once a pool of talent is established, shareowners, companies, diversity groups and other organizations will be able to use the program to recruit board candidates. The DataSource […]

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Retirement Security for All

Hank Kim, Executive Director and Counsel for the National Conference on Public Employee Retirement Systems (NCPERS), has unveiled a proposal for a new type of retirement plan. To those who think CalPERS and other pensions for public employees should be abandoned, the proposal offers an alternative. See Retirement Security for All. The proposed Secure Choice […]

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Wayback Machine: September 2006

Below is a sampling of stories covered by CorpGov.net 5 years ago this month. After reading this list, it looks like shareowner victories five years later may have slowed slightly or is that just my imagination. One amazing parallel, the decision in AFSCME v AIG then and lifting the stay on Rule 14a-8 amendments allowing […]

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Retirement Security for All

Hank Kim, Executive Director and Counsel for the National Conference on Public Employee Retirement Systems (NCPERS), has unveiled a proposal for a new type of retirement plan. To those who think CalPERS and pensions for public employees should be abandoned, the proposal offers an alternative. See Retirement Security for All. The proposed Secure Choice Pension (SCP) is aimed at […]

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Bilbrey Wins CalPERS Board Seat

Michael Bilbrey is the apparent winner of a special runoff election to fill a vacancy on the 13-member CalPERS Board of Administration. According to the unofficial vote count, Bilbrey received 117,034 votes, while Richard Ross received 78,718 votes.  The result is not official until certified by the California Secretary of State’s Office. Bilbrey and Ross were […]

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Some CalPERS Gift Reporting Investigations Closed

The FPPC opened an investigation earlier this year over allegations that 49 CalPERS board members and employees failed to accurately report gifts from lobbyists, contractors and other entities during the past five years. Six letters released last month are among the first results from the investigation. More findings are likely to be released over the […]

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Video Friday: CalPERS Candidate Forum

Videos are now available from the “CalPERS Candidates’ Forum,” moderated by the League of Women Voters of Sacramento County, on Wednesday, July 6, 2011 in the CalPERS Auditorium. I sponsor these CalPERS forums as publisher of PERSWatch.net because I think there is far too little coverage of these important elections in the press. This is my […]

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Videos of CalPERS Candidate Forum Available

Videos are now available from the “CalPERS Candidates’ Forum,” moderated by the League of Women Voters of Sacramento County, on Wednesday, July 6, 2011 in the CalPERS Auditorium. Although less than 50 people showed up for the forum, I expect many more will watch them online. We will need to consider other options for the next […]

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CalPERS Candidate Forum July 6th

PERSWatch.net will sponsor a “CalPERS Candidates’ Forum,” moderated by the League of Women Voters of Sacramento County, on Wednesday, July 6, 2011 from 6:00 p.m. to 8:00 p.m. The forum will take place in the CalPERS Auditorium, Lincoln Plaza North, 400 P St., Sacramento, California. Free parking will be available under the building. Enter on […]

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Gifting at CalPERS

CalPERS was in the news negatively again. The Fair Political Practices Commission is investigating more than four dozen CalPERS board members and employees over allegations they failed to accurately report gifts. Coincidently, I had a recent discussion with one of the board members under investigation before these allegations surfaced about current legislation. It turns out,  even though […]

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Why Routinely Approve Auditors?

Ever since the demise of Enron, I’ve wondered why the vote by shareowners to approve auditors is considered such a routine nonevent. Ask anyone who used to work for former big five firm Arthur Andersen LLP. Yet, “ratification” of auditors remains among the last holdouts of broker voting. Who watches the watchers in the world of […]

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PwC Appoints Gillan

PwC has announced the appointment of Kayla Gillan, formerly SEC Chair Mary Schapiro’s Deputy Chief of Staff, as the firm’s head of the newly created Regulatory Relations Group. This confirms a report by Bloomberg from last week. Ms Gillan is no lightweight as she is a founding member of the PCAOB, served as general counsel […]

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Video Thursday: CalPERS Candidate Forum

PERSWatch, also published by CorpGov.net publisher James McRitchie, sponsored the “CalPERS Candidates’ Forum,” moderated by the League of Women Voters of Sacramento County, on Tuesday, April 26, 2011. The forum took place in the CalPERS Auditorium, Lincoln Plaza North, 400 P Street, Sacramento, California. Seven candidates running in the Special Election, to fill the Member-At-Large […]

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CalPERS Ambassador Program

If you are a retiree, hopefully, you saw the brief article on the Ambassador Program in the California State Retiree or on the CSEA Retirees Inc. website. If you aren’t a retiree, contact CalPERS at the e-mail below and ask them if you can attend as well. You may need to take some time off […]

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Goldman Sachs: How I Voted

Goldman Sachs is one of the stocks in my portfolio. Their annual meeting is coming up May 6. Today is the last day to vote my proxy on the MoxyVote.com platform. ProxyDemocracy.org had only two funds voting when I looked yesterday, CalPERS and CBIS. MoxyVote.com had sixteen recommendations, although several were from voting consolidations for categories. There is […]

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CalPERS Candidate Forum

As some of you may know, during the last 25 years I’ve run for the CalPERS Board more than anyone, raising issues like gifts, placement agents and generally fighting for higher ethical standards. For years, I tried to get elections regulated by the Fair Political Practices Commission and covered by newspapers. I recall testifying in […]

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3D Advisory Panel Named

CalPERS and CalSTRS are working with an Advisory Panel of leading corporate governance experts to develop a new digital resource devoted to finding untapped diverse talent to serve on corporate boards. The Diverse Director DataSource, known as “3D,” will offer shareowners, companies and other organizations a facility from which to recruit individuals whose experience, skills […]

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CalPERS Airs Dirty Laundry: Reforms Promise New Day

Could CalPERS have avoided the current corruption scandal if, like CalSTRS, it had adopted a staff recommendation in 2007 requiring private equity firms to disclose fees paid to “placement agents” like Alfred Villalobos? A member of a small group that formed lasting relationships while serving with Villalobos on the CalPERS board during the 1990s, Kurato […]

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CalPERS & the Press

Self dealing. Conflicts of interest. Actions that are quite possibly criminal. These are the kinds of malfeasance a lawyer hired by the California Public Employee Retirement System has documented in a review that sheds new light on the bribery scandal that has rocked CalPERS. Some of the details have previously been reported by The Bee […]

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California Corporate Governance Network

Another resource added to the Internet: The California Corporate Governance Network was developed to create a coalition of California pension plans to advocate for corporate governance best practices. Within California there are several pension plans that range in size from the largest two state plans to the local county funds. Collectively these plans provide for […]

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Apple Invesotrs Win on Majority Vote

Apple tasted defeat at its annual meeting yesterday when CalPERSs, the California pension fund, saw its resolution in favor of majority voting for directors passed by shareholders. (Apple Loses Investor Vote, 2/24/2011) At Apple’s annual meeting on Wednesday, about 74 percent of votes cast favored a proposal by Calpers that unopposed candidates for the company’s […]

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How I Voted at Apple

There was never any question in voting my shares of Apple. Egan-Jones Proxy Services, Glass, Lewis & Co. LLC, and ISS Proxy Advisory Services all endorsed a majority vote election standard proposed by CalPERS for unopposed board candidates. Who wouldn’t? If shareowners can’t make the nominations, they should at least be able to turn out directors […]

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Protect Your Pension

On February 28 and March 1, learn how to protect your pension fund. The Los Angeles Trustee Network invites a frank discussion of issues. Major and minor public pension funds from around California will be represented at this free, very informative conference at the Sheraton Gateway at LAX in Los Angeles.

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Don’t Toss That Proxy! Learn From CalPERS

Resolution MB 8/09, approved at CSEA’s last General Council, sought to expand on the leadership CalPERS has shown in the area of corporate governance by exploring how CalPERS could better influence the proxy voting of its own members and in helping us to evaluate which mutual funds vote in alignment with our own values and […]

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CalPERS Election and Candidate Forum April 26

As we have during the last two CalPERS elections, PERSWatch will sponsor a candidate forum so that members and the general public can meet and ask questions of the candidates. The forum for the Member-At-Large candidates will be held on April 26, 2010 from 6:00 p.m. – 8:00 p.m. in the CalPERS auditorium at 400 P […]

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