Way I hear it, CalPERS was one of the first folks to push for shareholder rights and force change on some of the boards by making public threats, posting "lists of shame", and other tactics to make boards more responsible. Some of the big guys went to CalPERS and said hey, we hear what you're saying, we just think it'd be more effective if you came to us privately when you wanted something done, rather than make a big splash all over creation. CalPERS says, cool, we can do that. So they do that -- and what happens? Nothing. They can't get dick done. So they go back to being a public nuisance, and they get stuff done, and this is the thanks they get.

Fuckin' GOoP. Hate 'em.

I feel the same anger. I am doing what I can at the National level, but I do not know where to start at the State level.

Your post gets me angry and explains the issue, but now what do we do?

Thank you, Duckman.

I'll help spread the word. If you feel powerless talk to your people. They'll spread the word of the theft too.

It's something. A lot better than nothing. I'll get back to this in a week, no more, Duckman.

Angelides is talking about the schwarzenngrabber's call to privatize CalPERS, the largest public pension fund in the Nation with some $180 BILLION in funds to manage. And guess what? They make money.

Not as much money as just putting those hundreds of billions in the SP500 or Total Stock Market index fund. Calpers underperforms a no-brainer index fund. And those guys make a ton of money to underperform. What is that?

They also invest in those risky things called "stocks." ENRON! WCOM! Global Crossing! Arrrrggggghhhhh!

There's also CalSTRS, for teachers that does the same thing. Maybe those agencies should at least be combined, to save some overhead. Kind of like the HP-Compaq merger.

Better yet, they could fire everyone at both CalSTRS and CalPERS, except for one person. Then, subscribe to Bob Brinker's newsletter for $185 a year, and buy index funds. Click. Done.

I suspect that there is much much more at stake than corporate governance, those are just the bonus points that get him the big bucks corparate support to pull this off his master plan.
The terminator's plan is to shred the largest democratic party in the country. Turn blue to red. If you look at what he is proposing this is merely part of the plan to destroy the base of the California democratic party.
The democratic party in California w/o the support of the public worker's unions is very vulnerable. cCouple this move w/ his move to redraw the district maps at the same time & you turn blue to red overnight.

Your post gets me angry and explains the issue, but now what do we do?

The best thing to do is vote against it. Arnold is trying to destroy my pension. To hell with him. Teachers and state employees will turn out in mass in March. I doubt the other side has similar motivation.

California will not become a red state. Arnold's popularity is falling like a stone. He's just trying to do as much damage as possible before riding off into the sunset. I doubt he'll get re-elected. And a pro-choice Republican president is an impossibility.