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Council Of Institutional Investors

BUSINESS
January 22, 2009 | Marc Lifsher
The head of the Washington State Investment Board is heading south to Sacramento to oversee investments at the nation's largest public pension fund, the California Public Employees' Retirement System. As chief investment officer, Joseph A. Dear, 57, faces the challenge of reversing steep losses inflicted by the financial downturn on the $178-billion fund, known as CalPERS.
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NEWS
October 17, 2012 | By Joseph Tanfani
WASHINGTON - For months, the Obama campaign has been pounding Mitt Romney for his offshore holdings and his investments in companies that send jobs overseas. So when the subject came up during Tuesday's debate, Romney was eager to call out the president for doing the same thing. “Let me give you some advice - look at your pension,” Romney told Obama. “You also have investments in Chinese companies … You also have investments through a Caymans trust, all right?” Romney was correct, but it's difficult to draw comparisons between the two politicians' retirement accounts.
BUSINESS
April 3, 2009 | Tom Petruno
Under intense pressure from Congress, accounting rule makers on Thursday voted to give banks more discretion in valuing dicey assets. The changes to so-called mark-to-market accounting standards could help banks avoid more write-downs on troubled mortgage-backed bonds. Banks also could decide to boost the value of those assets on their balance sheets, which could bolster their finances -- allaying concerns about the need to raise more capital.
NEWS
February 11, 2002 | RONALD BROWNSTEIN
After Enron, the accounting and securities industries are in the same uncomfortable position as the airlines after Sept. 11. To reassure fliers wary of the skies after the terrorist hijackings, the airline industry had to accept a long list of federal safety regulations it had long grounded. Likewise, to lure back investors fearful of more Enron-like accounting scandals, the investment industries may now have to accept new federal investor protections they have long blocked.
BUSINESS
July 27, 1997 | SHARON WALSH, WASHINGTON POST
When Philadelphia lawyers sued directors of Archer-Daniels-Midland Co. last year for their role in a huge price-fixing scandal, they said they were striking a blow for the company's shareholders. ADM settled the suit recently for $8 million. But guess who gets the money? Not the shareholders, but the lawyers. "It's a classic case of lawyer greed," said Mark C. Hansen, an attorney for institutional shareholders protesting the settlement.
BUSINESS
November 9, 2007 | Kathy M. Kristof and E. Scott Reckard, Times Staff Writers
Two groups representing union pension funds turned their sights on Countrywide Financial Corp.'s directors Thursday, saying board members failed to curb what they called excessive compensation for Chairman and Chief Executive Angelo Mozilo.
BUSINESS
February 15, 1985 | MICHAEL A. HILTZIK, Times Staff Writer
Financier Carl Icahn said Thursday that if shareholders join him in rejecting a refinancing plan for Phillips Petroleum Co. next week, he will attempt to have the company sold to an employee group or another bidder "at a fair price" after first unseating the board of directors. "I'm not going away under any conditions," he said, adding that he would hold his stock--currently 7.5 million shares, or 4.
BUSINESS
August 22, 2002 | JOSH FRIEDMAN, TIMES STAFF WRITER
Vanguard Group may be best known for its "passive," index-style investing, but the mutual fund giant said it would begin taking a more activist role in corporate governance: The firm has revamped the standards it will follow in proxy voting, putting companies on notice about key governance issues.
BUSINESS
July 27, 2005 | Joseph Menn, Times Staff Writer
Silicon Valley lost its best hope to avoid treating stock options as a formal expense, when the man poised to become the nation's new securities chief said Tuesday that he would support the accounting shift. While Rep. Christopher Cox tried to beat back the options change in Congress, he told a Senate committee weighing his nomination as Securities and Exchange Commission chairman that the agency should make sure "that the rule is implemented as the markets expect."
BUSINESS
January 23, 2007 | Jonathan Peterson, Times Staff Writer
The Securities and Exchange Commission Monday said it would not intervene in a dispute over board election rules at Hewlett-Packard Co. and signaled that a clear policy governing director nomination contests probably would not be implemented until the 2008 season of corporate meetings. The announcement underscored the difficulties faced by the SEC and its chairman, Christopher Cox, in achieving consensus on a plan to give shareholders a greater voice in the corporate election process.
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