Facebook Governance Already a Concern For Giant CA Pension Fund

Osman Gulseven submits: Established in 1913, The California State Teachers' Retirement System (CalSTRS) is one of the oldest state supported pension funds. CalSTRS is the largest teachers' retirement fund portfolio in the country, and also the seventh largest public pension fund in the world. The pension fund provides retirement, disability and survivor benefits to almost 900,000 state educators working in the state of California.

The California State Teachers' Retirement System (CalSTRS), the nation's second-largest public pension, fund is worried that founder and chief executive Mark Zuckerberg has too much unchecked power.

CEO of the California State Teachers' Retirement System cites 'a breakdown of corporate governance and lack of oversight' in the wake of bribery allegations in Mexico.SACRAMENTO — The California State Teachers' Retirement System will cast its 5.3 million shares of Wal-Mart Stores Inc.

By Public Fund Point:As of March 31, 2012, the following pension plans, to name a few, owned the corresponding number of shares in JPMorgan (JPM):

The California State Teachers' Retirement System is seeking changes in Wal-Mart's corporate governance, saying the retailer's executives and directors ignored evidence of alleged malfeasance.SACRAMENTO — The California State Teachers' Retirement System is suingWal-Mart Stores Inc.executives and board members, accusing them of using bribery and corruption to gain approval from Mexican government officials to build new stores.

NEW YORK (Reuters) - Facebook's corporate governance rules, which give shareholders little say in how the social networking website would be run as a public company, are raising the hackles of one of the largest U.S.

Reuters - Facebook's corporate governance rules, which give shareholders little say in how the social networking website would be run as a public company, are raising the hackles of one of the largest U.S. investors, the California State Teachers' Retirement System.

Richard Dwyer submits:California's Constitution requires that a budget be reached by June 15th. The budget is now officially past due. Here are some developments to keep an eye on: