CalPERS must reveal VC data

SJ Mercury News ^ | 11/15/02 | Matt Marshall

[NormsRevenge]

The nation's largest pension fund will have to provide performance data about its private investments to the Mercury News unless its investment partners can prove the information is a trade secret, a judge ruled Thursday.

The California Public Employees' Retirement System's data from individual private equity partnerships ``is not a trade secret and is disclosable,'' Judge James Robertson said at a state court hearing in San Francisco. He gave CalPERS three weeks to get its investment partners to show why the data should be kept confidential.

[NormsRevenge]

Ping

[Ernest_at_the_Beach]

Oh, good one!

[Grampa Dave]

How much of that 19 Billion invested in venture capital funds is invested in funds which are nothing but left wing pie in the sky Arthur Andersen junk?

Did those responsible for the Pie in the Sky venture capital funds donate hundreds of thousands of $' legally to Davis and only God knows how much illegally?

Go for the judge, but why are we getting this decision weeks after the election?

[Ernest_at_the_Beach]

why are we getting this decision weeks after the election?

It might have had an effect on the election and the Judge might have been critized!

[Grampa Dave]

What has happened in Kali the past 10 years is due to the mediots who control the LA Slimes, the Bees, the Mercury, SF Gayrhonicle and local ABCNNBCBS affliates and the local left wing fishwraps playing PR distributors for the Rats instead of being newspaper people doing their job to fight corruption.

They have turned their back on the criminal activities of Davis and his thugs in Sacramento and spiked any real news or investigations. Then they slandered Simon for things he had not done. They refused to really address the massive over runs in our budget.

Due them acting as PR arms of the Rats, they have enabled criminals to be in charge and stay in charge of our government.

[razorback-bert]

Wait for the state pension checks to be late, then there will be stories.

It's going to take top and bottom spin to blame the pubbies.

[snopercod]

Oh goodie. Now we get to find out how much CalPers invested in getting Davis re-elected.

[Grampa Dave]

If and when we get to open CalPers books, we will see some incredible fascism behind closed doors and how these fascists enabled Davis to get massive sums of money from these left wing VC thugs to be elected and then re elected.

I know that Liz and d14truth have documented a lot money from these VC's that went to the Kali Rats and Davis.

The irony of this is simple. Most of Cal Pers investors are life long rats who voted for Davis and his commie legislators. Now their pensions and investments have been looted, diverted and may be at a severe risk. I love to explain this to teachers and local government workers and watch their eyes glaze over or them turning green.

These realities with Cal Pers and the upcoming budget shortage will wake up quite a few.

[d14truth]

CalPERS' venture-capital chief foresees big changes by Mark Calvey

Makes me feel all 'warm and fuzzy'--NOT!!!

Rick Hayes and William Del Biaggio III???

[d14truth]

2001 Milken State of the State

The Last Laugh?

[d14truth]

CALPERS' Rick Hayes is the 2nd from the LEFT next to Oakland Mayor and former CA governor Jerry Brown.

[Liz]

Wonder if this guy will surface in the CalPERS unveiling?



http://www.freerepublic.com/focus/news/772929/posts

[Liz]

EXCERPTED - April 11, 2002 NY TIMES - will post URL below

Former President Bill Clinton has been hired as a senior adviser at two investment funds that specialize in lower-income urban and rural communities.

The funds, the Yucaipa American Fund and the Yucaipa Corporate Initiatives Fund, were started in the last year by Ronald W. Burkle, a former grocery store magnate. Mr. Clinton is a friend of Mr. Burkle and often stays at his house. --SNIP-- Mr. Clinton will act as something of an ambassador for the funds, which be invested primarily in manufacturing, distribution and retail companies, Mr. Burkle said. The former president's duties will include talking to chief executives and local political leaders, at conferences and at "mini-town halls" in communities where Yucaipa hopes to invest.

Mr. Burkle is among the nation's wealthiest business executives and is a frequent political donor. According to statistics compiled by the Center for Responsive Politics, Mr. Burkle and the Yucaipa Companies he founded in 1986 have contributed more than $1 million to Democrat and Republican entities and candidates in the last four years. --SNIP--

The two funds started by Yucaipa first got their start last year when the California Public Employees' Retirement System, one of the nation's largest and most influential pension plans, approved a $475 million initiative to invest in blighted urban and rural communities throughout the state. Then retirement system then picked 11 investment firms as partners with the hope it would spur development in areas ignored by venture capitalists.

Yucaipa was allotted $200 million by the retirement system and set up a fund. But Mr. Burkle liked the idea enough to start another fund, the American Fund, which has raised $560 million from state and union pensions.

[Liz]

NY TIMES story - CLINTON'S GOT A JOB FR thread


http://www.freerepublic.com/focus/news/663807/posts?page=38

[snopercod]

... the American Fund, which has raised $560 million from state and union pensions.

Maybe there is justice after all.

[Grampa Dave]

Thanks for this link and thread.

I knew that there were at least two.

There is another one about the VC re the vineyards that were not even planted and hundreds of millions of CalPer $'s went to that VC.

The reality is with the slump in travel and dining post 9/11, most of the established wine industry is having problems with decreasing demand and sales of their wines. Those projected profits on the wine VC were made on sky high projections before the reality of 9/11 hit America and the world. The owners of this pie in the sky scheme were big time donators to Herr Davis and the rat party.

[Grampa Dave]

The sad reality is that a hand full of Freepers knew about the probable looting of Cal Pers behind closed doors to reelect Davis for most of this year.

Yet the left wing fish wraps and left wing local ABCNNBCBS affliates avoided addressing these realities until after the election.

[Liz]

Here's the vineyard CalPERS connection:


http://www.freerepublic.com/focus/news/676785/posts

[Liz]

The CalPERS-vineyard link in post #19 should have been attributed - the original poster was EATB.