January 7, 2000 |
The state's influential teachers pension fund voted Thursday to develop a model under which public school teachers could receive health benefits directly from doctors, rather than buying insurance through a traditional health plan.
April 17, 2003 |
California Treasurer Phil Angelides is urging the state's two biggest public pension systems to pay more attention to executive pay. Angelides on Wednesday sent letters to the investment committees of the California Public Employees' Retirement System and the California State Teachers' Retirement System, asking them to use their muscle as major shareholders to vote against any company compensation plan that would give managers dramatically more stock than lower-level employees.
February 26, 2002 |
The California State Teachers' Retirement System filed a motion Monday to be named lead plaintiff in nearly 20 consolidated lawsuits against Homestore.com Inc. and several former executives. The move is another example of pension funds seeking to spearhead efforts to recover damages from companies alleged to have used phony accounting to attract investors. Major pension funds also are aggressively seeking damages from Enron Corp.
December 11, 2002 |
The California State Teachers' Retirement System filed suit Tuesday against Qwest Communications International Inc., blaming the pension fund's $150-million investment loss on the telecom- munications company's alleged improper accounting practices. Those practices are under investigation by the Securities and Exchange Commission and the Justice Department.
July 26, 2002 |
State Treasurer Phil Angelides called on California's two largest pension funds Thursday to stop investing in companies that move their headquarters offshore to avoid paying taxes, and said the state would blacklist those firms. In recent years, a growing number of U.S. companies, such as conglomerate Tyco International Ltd., manufacturer Ingersoll-Rand Co. and Xoma Corp., a biotech firm, have reincorporated in Bermuda or the Cayman Islands.
May 10, 1997 |
The veteran chief investment officer of the $68-billion California State Teachers' Retirement System fund was replaced on Friday, a victim at least in part of his conservative investment philosophy in a roaring bull market. Thomas Flanigan, 56, who has overseen assets of the teachers' fund for 11 years, lost the position in competition with five other candidates, the CalSTRS board said. His successor will be Patrick Mitchell, 48, the fund's director of bond and stock investments.
February 1, 1990 |
Northrop Corp. said Wednesday that it has agreed to sell its 53-acre defense plant complex here--the first aerospace facility built in Orange County nearly 40 years ago--and two Century City office towers, including its corporate headquarters, for more than $250 million. The Los Angeles-based aerospace giant said it would use the proceeds to pay part of its $1.2-billion debt. Like other defense contractors, Northrop in the past year has felt the pinch from cutbacks in federal defense spending.
CALIFORNIA | LOCAL
November 3, 1999 |
The powerful Los Angeles teachers union has taken up a fight to end the investment of California teachers' retirement funds in tobacco companies. In the wake of a vote by its house of representatives, United Teachers-Los Angeles will urge the California State Teachers Retirement System to drop 19 tobacco companies from its portfolio of 3,000 American stocks.
CALIFORNIA | LOCAL
June 8, 2006 |
Democratic lawmakers Wednesday rejected one of Gov. Arnold Schwarzenegger's oldest friends and advisors for a position on a state board. The rebuff showed that labor-union distrust of Schwarzenegger still lingers strongly from last year's special- election fight. Along party lines, the Senate Rules Committee declined to confirm Schwarzenegger's nomination of David Crane to the California State Teachers Retirement System Board, which oversees the pensions of public educators.
July 24, 2007 |
The pension funds for California public employees and teachers posted above-average returns in the last year thanks to large holdings in overseas stocks and private equity, data released Monday showed. The California Public Employees' Retirement System said its investment portfolio returned 19.1% in the fiscal year ended June 30. The California State Teachers' Retirement System posted a 21% gain.