Are You on Calpers’s Hit List?
[interview of California Public Employees’ Retirement System (Calpers) president Sean Harrigan] Question: But Calpers did divest from companies doing business in South Africa during apartheid, and more recently from four developing countries where it has human-rights concerns. In April Calpers was credited with successfully pressuring GlaxoSmithKline to lower prices on its AIDS drugs for developing countries. Critics have said that such moves mean you sometimes rank social concerns above the bottom line. Is this true?