Advertisement
YOU ARE HERE: LAT HomeCollectionsCalstrs
IN THE NEWS

Calstrs

FEATURED ARTICLES
BUSINESS
July 22, 2013 | By Roger Vincent
Los Angeles commercial property landlord Thomas Properties Group Inc. has struck an agreement with its longtime investment partner that would allow Thomas to take full ownership of mammoth City National Plaza in downtown Los Angeles and other properties. “We want to increase the number of properties we wholly own or control,” Chief Executive James A. Thomas said. “This is a transformative opportunity for us.” Thomas Properties formed a joint venture with the California State Teachers' Retirement System in 2003 to acquire and upgrade the former Arco Plaza in downtown Los Angeles.
ARTICLES BY DATE
CALIFORNIA | LOCAL
April 27, 2014 | George Skelton, Capitol Journal
Any struggling family knows that first you put food on the table, make sure there's a roof overhead and lay in some daily essentials. Only then can you realistically think about paying down the credit card. True, you shouldn't have run wild with the card in the first place. But that's past. Now, you create a repayment plan and muster some discipline. That's where Sacramento sits currently with its daunting credit card debt. The state's annual budget that covers daily expenses is finally balanced after years of recession-plagued deficits.
Advertisement
BUSINESS
July 20, 2010 | By Marc Lifsher, Los Angeles Times
For the first time in three years, California's second-largest public pension fund reported positive annual earnings. The $130-billion California State Teachers' Retirement System posted a 12.3% return Monday for the fiscal year that ended June 30, a step toward recovering from steep losses during the recession. The CalSTRS portfolio lost 25% of its value in its previous fiscal year and dropped 3% for the 2008 fiscal year. "We've taken steps to position the portfolio for long-term growth, but we're not out of the woods yet," said Christopher J. Ailman, CalSTRS' chief investment officer.
ENTERTAINMENT
October 17, 2013 | By Meg James
Rupert Murdoch's media company's annual meeting has become a fall classic. Each year, pension funds, activist investors and proxy advisory firms demand that Murdoch -- who serves as both chairman of the board and chief executive -- loosen his grip on the company by relinquishing his role as chairman. And each year, Murdoch ignores them. This year is expected to be no different. The company, now named 21st Century Fox, holds its annual shareholder meeting Friday in West Los Angeles.
BUSINESS
December 11, 2009 | By Marc Lifsher
Hurt by big investment losses, California's two biggest state-run pension funds lost top long-term credit ratings from Moody's Investors Service on the insurance they sell to municipal governments to make it easier for them to sell bonds. Moody's blamed the downgrade on steep losses suffered by the funds, which could affect their future ability to meet obligations to retirees. "Today's rating action reflects our expectation that the cumulative back-to-back market value declines in the investment portfolios of both CalPERS and CalSTRS for the fiscal years ended June 2008 and 2009 will exacerbate long-term projected actuarial funding shortfalls, recent market gains notwithstanding," said Martin Duffy, Moody's vice president and senior credit officer.
BUSINESS
March 16, 2010 | By Marc Lifsher
Four years ago, as the California State Teachers' Retirement System still was recovering from the dot-com bust at the turn of the decade, its leaders learned some troubling news. The pension fund was $20 billion short on money needed to pay retirees over the next 30 years. But rather than hike contributions from teachers and school districts, CalSTRS officials decided, in the words of Chief Executive Jack Ehnes, to "roll the dice" and bet that a flourishing bull market would make their woes disappear.
BUSINESS
May 13, 1997 | (Bloomberg News)
A Maxxam Inc. shareholder proposal to have the company swap its Headwaters land in exchange for government claims from a failed savings and loan was endorsed by a large pension-fund stockholder. The endorsement came from the California State Teachers' Retirement System, which is the Houston-based timber company's 10th-largest institutional shareholder with 71,400 shares. Its recommendation was reported by the Rose Foundation, an Oakland-based environmental group.
BUSINESS
August 3, 2010 | By Marc Lifsher, Los Angeles Times
The state's second-largest public pension fund and a private equity investment partner will try to unseat four directors of Occidental Petroleum Corp. over concerns about the Los Angeles oil company's high executive pay and lack of a management succession plan. The California State Teachers' Retirement System and activist investor group Relational Investors of San Diego told Occidental in a letter that they would seek shareholder votes for their slate of candidates at the oil company's annual meeting next May. The two investors control about 1% of Occidental's shares.
BUSINESS
January 21, 2011 | By Marc Lifsher, Los Angeles Times
Investment returns at the nation's two largest public pension systems are back on track after suffering steep losses during the Great Recession. The California Public Employees' Retirement System reported Thursday that its investments grew 12.5% in the calendar year ended Dec. 31. That's in line with a 12.1% gain posted for calendar year 2009. The smaller California State Teachers' Retirement System ended the year with a 12.7% return. Both funds' total performance bested their selected market benchmarks.
BUSINESS
September 5, 2013 | By Roger Vincent
Los Angeles commercial landlord Thomas Properties Group Inc., which revived downtown's massive City National Plaza, is fading from the local landscape. The company has agreed to be sold to Parkway Properties Group Inc., a real estate investment trust based in Orlando, Fla., for $294 million in stock. The deal, which the two companies value at about $1.2 billion after including the value of debt and other costs, will give Parkway two properties in Houston and five in Austin, Texas.
BUSINESS
September 5, 2013 | By Roger Vincent
Los Angeles commercial landlord Thomas Properties Group Inc., which revived downtown's massive City National Plaza, is fading from the local landscape. The company has agreed to be sold to Parkway Properties Group Inc., a real estate investment trust based in Orlando, Fla., for $294 million in stock. The deal, which the two companies value at about $1.2 billion after including the value of debt and other costs, will give Parkway two properties in Houston and five in Austin, Texas.
BUSINESS
August 1, 2013 | By Cale Ottens
Negotiations are underway for the sale of a prime 6.3-acre slab of empty land in downtown Los Angeles near the Staples Center and the L.A. Live entertainment complex. A Shanghai-based real estate company called Greenland Holdings Group announced late last week that it had signed a “corporation agreement” to buy the development project, known as Metropolis. But the current owners -- a joint venture between IDS Real Estate Group and the California State Teachers' Retirement System -- caution that there has not been an official deal completed, despite media reports.
BUSINESS
July 22, 2013 | By Roger Vincent
Los Angeles commercial property landlord Thomas Properties Group Inc. has struck an agreement with its longtime investment partner that would allow Thomas to take full ownership of mammoth City National Plaza in downtown Los Angeles and other properties. “We want to increase the number of properties we wholly own or control,” Chief Executive James A. Thomas said. “This is a transformative opportunity for us.” Thomas Properties formed a joint venture with the California State Teachers' Retirement System in 2003 to acquire and upgrade the former Arco Plaza in downtown Los Angeles.
CALIFORNIA | LOCAL
April 4, 2013 | By David Zahniser
In a closely divided vote, the board that oversees retirement benefits for Los Angeles police officers and firefighters on Thursday chose a former official with the U.S. Department of Interior as its new top executive. The board voted 5-4 to hire Ray Joseph to lead the Fire and Police Pensions retirement system. Joseph spent a year serving as executive director for the Office of the Special Trustee for American Indians, overseeing Indian trust assets, according to his resume. All five board members who voted for Joseph were appointed by Los Angeles Mayor Antonio Villaraigosa, while the four who dissented represent current and retired public safety employees, city officials said.
BUSINESS
February 19, 2013 | By Marc Lifsher
SACRAMENTO -- The nation's biggest public pension fund is taking a stand against gun violence by voting to sell all its investments in two firearms manufacturers: Smith & Wesson Holding Corp. and Sturm, Ruger & Co. On Tuesday, the Investment Committee of the California Public Employees' retirement System voted to sell about $5 million worth of the gun makers' stock and other securities. Some of the two companies' products -- particularly assault weapons and cheap handguns, known as Saturday night specials -- are illegal in California.
BUSINESS
February 14, 2013 | By Marc Lifsher
SACRAMENTO -- The country's second-largest public pension fund is opposing the reelection of Walt Disney Co. Chairman and Chief Executive Robert Iger to the entertainment and theme-park giant's board of directors. Citing concerns about the company's corporate governance, the $158-billion California State Teachers' Retirement System, known as CalSTRS, announced Thursday that it will vote its 5.3 million shares of Disney stock against Iger and five other board members who are up for election at an annual meeting March 6. CalSTRS' holdings in Disney are worth $263 million and represent 0.3% of the company's outstanding shares.
BUSINESS
May 4, 2012 | Marc Lifsher
The California State Teachers' Retirement System is suing Wal-Mart Stores Inc. executives and board members, accusing them of using bribery and corruption to gain approval from Mexican government officials to build new stores. Late Thursday, the board of CalSTRS, the country's second-largest public pension fund, filed the so-called derivative lawsuit seeking changes in the corporate governance of the world's biggest retailer. "CalSTRS is seeking to remedy the damages sustained by Wal-Mart as a result of alleged gross misconduct by Wal-Mart's executive officers and directors," CalSTRS Chief Executive Jack Ehnes said.
BUSINESS
May 3, 2012 | By Marc Lifsher, This post has been corrected, as indicated below.
SACRAMENTO --The country's second-largest public pension fund, the California State Teachers' Retirement System, is suing current and former board members and executives of Wal-Mart Stores Inc., accusing them of using bribery and corruption to gain authorization from Mexican government officials to build new stores. Late Thursday, CalSTRS governing board filed a so-called derivative lawsuit in a Delaware state court seeking changes in the corporate governance of the world's biggest retailer to assure that such alleged bribery does not occur in the future.
BUSINESS
February 8, 2013 | By Marc Lifsher
SACRAMENTO -- The California State Teachers' Retirement System, the second-biggest public pension fund in the nation, reported a return on investments of 13.5% for the just-ended calendar year. The $158-billion fund, known as CalSTRS, said it missed an overall target of 15.4% in asset growth. But it posted strong results of 16% for U.S. stocks, 17.2% for international equities, 14.6% for private equity, 6.1% for bonds and 13.5% for real estate. CalSTRS' returns were in line with last month's report of 13.3% growth during 2012 at its larger sibling, the California Public Employees' Retirement System.
BUSINESS
January 9, 2013 | By Marc Lifsher
SACRAMENTO -- Acting on a request from the state treasurer, the board of the state teachers pension fund has begun the process of selling its holdings in some gun and ammunition-clip manufacturers. Treasurer Bill Lockyer's motion was approved unanimously Wednesday by the Investment Committee of the $154-billion California State Teachers' Retirement System. Lockyer brought the issue to the board in response to December's mass shooting of 20 students and six adults at Sandy Hook Elementary School in Newton, Conn.
Los Angeles Times Articles
|