CalPERS assails exorbitant pay

Mercury News ^ | 6/1803 | Mark Schwanhausser

[NormsRevenge]

Using its clout as the nation's biggest public pension fund, CalPERS said Tuesday that it plans to identify companies that dole out fat paychecks to executives -- and it will either shame them into changing or oppose them at the ballot box at annual shareholder meetings.

[John Jorsett]

Ping. This is exactly why the talk of having Social Security funds placed into private stocks, but administered by government bureaucrats disturbs me. The last thing an American business needs is some quasi-private but defacto-public agency breathing down its neck, telling it how to run things. The temptation to get in there and meddle is overwhelming to the statists who gravitate to these positions. The outcome of the CalPERS move will be interesting. It may turn out to be self-limiting if CalPERS succeeds in destroying the profitability of the businesses it decides to target.

[Ernest_at_the_Beach]

It is a giant cookie jar for the Willie Brown types!

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[snopercod]

I agree completely, but Social Security funds administered by individuals as in self-directed IRAs would avoid that problem. That's where we need to go.

[John Jorsett]

I agree completely, but Social Security funds administered by individuals as in self-directed IRAs would avoid that problem. That's where we need to go.

I'm with you. When I think of the money that I've flushed down the SS rathole when I could have invested it, I get really p.o.ed.

[tubebender]

I find this very disturbing for a number of reasons including the fact that CALPERS membership is made up of Union Members and is managed by mostly liberal appointees who have a anti-business bent...