Pension Fund Wants Strike Settled Now

Jan 22, 2004

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.

Anderson – Moderator

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