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California State Teachers Retirement System

BUSINESS
July 10, 2003 | From Bloomberg News
The California State Teachers' Retirement System, the third-largest U.S. public pension fund, will require banks investing its money to split research from investment divisions to avoid conflicts of interest. CalSTRS' investment committee approved the rules Wednesday, said state Treasurer Phil Angelides, a CalSTRS board member.
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BUSINESS
April 17, 2003 | Kathy M. Kristof, Times Staff Writer
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.
BUSINESS
February 6, 2003 | From Bloomberg News
The California State Teachers' Retirement System, the fourth-largest U.S. public pension fund, said Wednesday that it could see the gap between its assets and its obligations to pensioners multiply by 21 times to almost $47 billion in the next decade. CalSTRS' unfunded liability, which occurs when a pension fund's total value falls below projected long-term obligations to pay benefits to retirees, could grow from $2.2 billion in 2002 to $46.
BUSINESS
December 11, 2002 | Lisa Girion, Times Staff Writer
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.
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.
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.
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