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California State Teachers Retirement System

BUSINESS
December 5, 2002 | From Bloomberg News
The California State Teachers' Retirement System, the third-largest U.S. public pension fund, has approved a resolution asking Tyco International Inc. and Ingersoll-Rand Co. to move their corporate headquarters back to the U.S. CalSTRS owns 145,818 shares of Ingersoll-Rand and 869,749 shares of Tyco.
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BUSINESS
November 16, 2002 | E. Scott Reckard and Edmund Sanders, Times Staff Writers
Investors led by California's teacher-pension fund sued AOL Time Warner Inc. and Cendant Corp. on Friday, contending that the two corporate giants played key roles in Homestore Inc. financial frauds that cost investors hundreds of millions of dollars. Maintaining that the case "represents the very worst of the Internet 'bubble,' " the filing greatly expands an earlier lawsuit that had named as defendants Homestore, five of its former executives, business partner L90 Inc.
BUSINESS
October 3, 2002 | Reuters
The California State Teachers' Retirement System pension fund will publish its votes on corporate issues for stocks it owns and lobby for regulators to impose such disclosure requirements on mutual funds, state Treasurer Phil Angelides said Wednesday. Federal regulators have proposed that mutual funds should reveal their votes, a move proponents say would stop funds from courting management at other shareholders' expense.
BUSINESS
July 26, 2002 | DEBORA VRANA, TIMES STAFF WRITER
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.
BUSINESS
February 26, 2002 | Diane Wedner
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.
BUSINESS
February 12, 2002 | BRAD BERTON, SPECIAL TO THE TIMES
The California State Teachers' Retirement System has purchased the Plaza at the Arboretum apartment and retail complex in eastern Santa Monica's commercial hub in one of the largest local residential deals in recent years. The pension fund for the state's public school educators made an initial payment of nearly $76 million for the 351-unit complex at 2200 Colorado Ave., according to a CalSTRS Investment Committee report.
BUSINESS
December 5, 2000 | BRAD BERTON, SPECIAL TO THE TIMES
The California State Teachers' Retirement System has purchased nearly 400,000 square feet of office properties along Town Center Drive in Valencia for $72.3 million in cash. CalSTRS, through an investment program managed by Los Angeles-based Thomas Properties Group, purchased four buildings, including Princess Cruises' headquarters, from Newhall Land & Farming Co., the Santa Clarita Valley's biggest land developer. Newhall Land reported that the sale price is $7.
BUSINESS
April 14, 2000 | Reuters
The chief investment officer of the nation's third-largest public pension fund, the California State Teachers' Retirement System, has tendered his resignation, effective July 15. The pension fund said late Thursday that Patrick Mitchell will leave to pursue other opportunities. Under Mitchell's direction, the investment portfolio grew from $74.8 billion in June 1997 to $113.6 billion by March 31 of this year, the pension fund said in a statement. The fund posted an 18.
NEWS
April 6, 2000 | From a Times Staff Writer
In preparation for possible unloading of its tobacco holdings, the investment committee of the $110-billion state teachers' pension fund directed its chief investment officer Wednesday to draft a divestment policy. The move comes amid growing pressure by teachers' groups and state Treasurer Phil Angelides on the California State Teachers Retirement System to divest $319 million in tobacco stocks.
NEWS
April 5, 2000 | JULIE TAMAKI, TIMES STAFF WRITER
The debate over whether the massive state teachers pension fund should divest itself of tobacco stocks is set to heat up today. Members of the investment committee of the $110-billion State Teachers' Retirement System are expected to take up the issue at their monthly meeting in the capital, where several studies on the topic will be presented. The CalSTRS board decided against selling its tobacco holdings in 1998.
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