By George Anderson
The largest pension fund in the nation, the California Public Employees' Retirement System (Calpers), is stepping up pressure on Safeway to negotiate and make a deal with grocery workers involved in the strike/lockout in Southern California.
Rob Feckner, investment committee chairman of Calpers told Reuters. "The strike is costing us money and as a long-term investor we have to get this done and over with."
Calpers has $77 million invested in Safeway.
Moderator's Comment: Will pressure from large institutional investors such as Calpers help resolve the Southern California grocer worker's lockout/strike?
This isn't the first time Calpers has called for a quick resolution to this issue and the fund's administrators seem less than convinced Safeway is negotiating in good faith. That said, $77 million and all has not been enough to get a deal done before now. It probably still isn't enough. - George Anderson - Moderator