Posted on 09/17/2019 8:04:27 PM PDT by Olog-hai
The University of California is dumping fossil fuel investments from its nearly $84 billion pension and endowment funds, calling them a financial risk.
An opinion article in Tuesday’s Los Angeles Times says UC will make its endowment fund “fossil free” by month’s end and its pension fund will soon follow. The pension fund covers 320,000 people. …
(Excerpt) Read more at apnews.com ...
The pensioners should be coming for these loons with pitchforks and torches...
Others will buy what they sell-off.
And then when the pension fund goes bust, guess who the people running that charlie foxtrot and those pensioners will go to demanding a bailout.
Weh..ell you know-o-o
We all wanna change the world...
Shoo-bee-doo-wah, uh-um-shoo-bee-doo-wah...
Oh my, maybe they will invest in plastics.
You are on the right track. They will want to put the tap on everyone else.
Get woke go broke, yet another example.
Yup, that’ll work. Just plug in them electric cars with power supplied from some battery pack charged by a windmill or solar panel with a back up generator. Oh, dang. Well at least they won’t be using any petro products in other things like tires and dash boards and.......... Damn it. This could be a problem. But hey, UCXXX
DUH! Well if they really cared they’d go beyond just their portfolios. Forehead smack!
Insane...total mismanagement right in plain sight.
Have to go to school a long time to get that stupid, apparently.
On this large a scale, that stupidity is criminal.
And one more thing to ponder, all this money will be going somewhere...
Cui bono?
They have pensions to deal with. Gonna be tough.
Not my problem.
I hope they enjoy living under a blue tarp, with all their published works in a stolen shopping cart...
BWAHAHAHAHAHA!!!
oil companies are among the best dividend-payers in the S&P today
Ewwww! Profits!
These idiots are fully versed in 21st century progressive-fascist crony capitalism. Speculate on some emerging technology, hope it gets government support, and win big if lots of printed Federal Reserve money at zero interest rates pours into it.
Shouldn’t they sell all their cars and turn the heat off?
"That year we were the first public university in the United States to sign onto the U.N.’s Principles for Responsible Investing.
Some might see our action as born of political pressure, or as green movement idealism or perhaps political correctness run amok. So be it; we are part of a university system where diversity of opinion thrives.
We have chosen to invest for a better planet, and reap the financial rewards for UC, rather than simply divest for a headline."
The University of California are idiots.
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