CalPERS President Harrington Expected to be Removed
The president of the governing board of the powerful California Public Employees Retirement System is expected to be removed from office. According to the Los Angeles Times, Sean Harrigan could be voted off as soon as Wednesday.
Tuesday, November 30, 2004
For two years, Harrigan and state Treasurer Phil Angelides have led corporate reform efforts, using the huge CalPERS pension fund portfolio as clout. Angelides says the effort will continue. CUT: Angelides09 :09 Angelides said pressure from the state business community and Governor Schwarzenegger is forcing Harrigan’s ouster. Schwarzenegger’s chief spokseman Rob Stutzman says the governor is not involved. CUT: Stutzman05 :05 With an investment portfolio of almost 180 billion dollars, CalPERS wields huge power on Wall Street and with individual corporations in which it invests. SOC