Union Activist Poised to Take CalPERS Helm
Saint Mary's professor James Hawley was quoted in a Sacramento Bee article about Rob Feckner's election to the position of board president of the California Public Employees' Retirement System.
Hawley said CalPERS' trustees learned their lesson last year after they were criticized for an aggressive corporate governance crusade - when the fund voted against re-electing directors at about 90 percent of the companies in which it invested. The figure led to widespread criticism that CalPERS was taking a scattershot approach.
"They got a lot of bad PR and feedback. They realized it wasn't very effective," Hawley said. "The style may change, maybe be a little less rhetorical."