1.
Companies team for technologies
SACRAMENTO, Dec. 1 (UPI) -- The president of California's state pension board was voted out of office Wednesday.
Sean Harrigan was voted out by the state Personnel Board after reportedly raising the ire of colleagues with his high-profile demands for corporate responsibility.
The Los Angeles Times said during his tenure with the California Public Employees Retirement Board (CalPERS), Harrigan lobbied for the removal of corporate executives who allowed auditing companies to perform non-auditing duties.
Such arrangements were seen as a precaution against Enron-like accounting scandals; however Harrigan's critics said he went overboard and should have concentrated on getting the highest possible rates of return for CalPERS' retirees.
CalPERS is one of the nation's largest investment funds with assets of some $177 billion.
The Times said Harrigan was expected to be replaced by Ronald Alvarado, who was appointed to the board by former Gov. Pete Wilson.
|
|
|
|
|
|
| Additional Business News Stories | |
ASUNCION, Paraguay, May 22 (UPI) --
Land-locked Paraguay is hoping the latest investor seeking oil in its promising western region will have better results than previous prospectors.
|
WASHINGTON, May 22 (UPI) --
A U.S. Senate committee report has revived controversy over alleged counterfeit Chinese electronic components entering U.S.-made defense equipment and weapons.
|
Like housing markets overall, the market for luxury homes is growing tighter as the spring buying progresses. Though still a buyer's market, the ILHM Luxury Housing Report for last week shows a pattern of rising prices and fewer days on market since...
|
What if Europe turned out to be the new Japan?
|
| Stories | Photos | People | Comments |
View Caption
