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Government pension funds now want to control the Boards of Directors of private firms. In affect, making them public firms.
The definition of fascism is government controlling the means of production--and that is goal--not socialism..
"CalPERS and CalSTRS backed a provision in major financial reform legislation making it easier for shareholders to nominate corporate directors, drawing a court challenge from business groups.
The push for more say in corporate governance is the G in ESG, a worldwide drive by public pension funds and other large shareholders to use investment clout to move corporations toward broader environmental, social and governance practices.
Supporters think the use of proper ESG criteria is a sign of quality corporate management and sustainable long-term profit. Some even argue that ignoring ESG could breach the legal duty of pension funds to pursue the best interest of beneficiaries."
Government is about power--agencies like CalPRS are about taking money and power. Either way, the families and California working people will be the loser.
Did you know this was happening?
More...
The definition of fascism is government controlling the means of production--and that is goal--not socialism..
"CalPERS and CalSTRS backed a provision in major financial reform legislation making it easier for shareholders to nominate corporate directors, drawing a court challenge from business groups.
The push for more say in corporate governance is the G in ESG, a worldwide drive by public pension funds and other large shareholders to use investment clout to move corporations toward broader environmental, social and governance practices.
Supporters think the use of proper ESG criteria is a sign of quality corporate management and sustainable long-term profit. Some even argue that ignoring ESG could breach the legal duty of pension funds to pursue the best interest of beneficiaries."
Government is about power--agencies like CalPRS are about taking money and power. Either way, the families and California working people will be the loser.
Did you know this was happening?
More...