Archived stories and articles about divestment
Latest News - Jan. 23, 2008: The approval of an investment policy regarding Iran by the PERA Board made the news today after the Governor announced that a compromise had been reached. However, if you read the stories...you will see different views of what was said. In one, it is fully clear that the Governor expects the PERA Board to divest. The Governor's comments are bothersome. We need to be watchful; our work is over.
Grand Junction Sentinel: Jan. 23, 2008 - PERA checks investments for Iran ties
Grand Junction Sentinel: Jan. 21, 2008 - Retirees' fund to pull assets from Iran
Colorado Daily, Jan. 23, 2008: Iran Divestment Too
Politics West, Jan. 23, 2008: Governor Announces Divestment Plan
Denver Business Journal: Jan. 22, 2008 - Ritter Supports PERA's Iran Ban
All American Patriots.com eb site: Jan. 23, 2008 - Colorado Governor Ritter Lauds Pera Iran Divestment Policy
Rocky Mountain News: Jan. 23, 2008 - PERA Compromines on Iran Divest Plan
Colorado Springs Gazette: Jan. 23, 2008 - State Fund Backs Iran Divestment
Rocky Mountain News: Jan. 22, 2008 - PERA Adopts Policy on Iran Divestment
cbs4.com Jan. 23, 2008 - Colorado state retirement fund checks investments for Iranian ties
PERA Board of Trestees Statement & Iran-Related Investment Policy - Adopted January 18, 2008
Divestment from Companies Operating in Iran
Status: Several legislators via newspaper articles and e-mail reports have indicated they will introduce a bill in the 2008 General Assembly to require PERA to sell its investments in companies that do business in Iran. The exact wording of the bill has not been released as of Jan. 8, 2008.
FOP opposes this proposal.
- Divestment is ineffective. Selling shares from PERA to another investor does not make any impact on the companies involved or on the Iranian leadership. more...
- The State Legislature in 2007 set genocide as the standard for divestment. The current divestment initiative does not meet this standard. Iran is no Sudan! If this divestment passes, what country will be next? It is a slippery slope! We will see proposals to divest from other countries or for other “social” causes. more...
- Some of the companies that operate in Iran also have operations in Colorado including Shell and Total. These two companies operate in 130 countries; their operations in Iran are but a very small portion of their total investments. By excluding these as companies in which PERA may invest, the Legislators are limiting PERA’s rate of return in a very beneficial market.
- The PERA trust funds are not public funds or state property. Rather, they belong to the PERA membership. The PERA Trustees are the fiduciaries of the fund and are responsible by state law for investing solely in the interests of the PERA membership. The Legislature may limit investment risk by asset categories but should not make specific investment decisions. more...
- By forcing PERA to divest, the Legislature makes a political statement using only public employees. No other Colorado citizen is impacted. It is unfair and discriminatory to only make public employees pay the price of the Legislature’s action. more...
- Divestment interferes in the federal government’s ability to conduct foreign policy. The National Foreign Trade Council opposes divestment because it hurts relationships with countries in which these companies are domiciled, e.g. France, Britain, Netherlands, etc. The Supreme Court has ruled that it is unconstitutional because it interferes in foreign policy. The State Department and the President have stated similar concerns even though the President signed the Sudan Divestment bill recently.
7. Divestment is costly – research, transaction expenses, and the lost potential income gain will result in a negative financial impact on the pension fund.
PERA Board Statement - posted on www.copera.org August 24, 2007
News Articles Regarding PERA Divestment
Rocky Mtn Chronicle: Jan. 10, 2008 - Legislator wrestle with Iran divestment
Rocky Mtn News: Dec. 12, 2007 - Legislators want pension fund to cut ties to Iran
Rocky Mtn News: Aug. 8, 2007 - A gray area for divestiture
Rocky Mtn News: Sept. 9, 2007 - Don't let divestment bills become a habit
Denver Post Editorial: Sept. 8, 2007 - Pass on PC Pitch for PERA
Other News Articles
AP Texas News: Jan. 9, 2008- (Texas) Pension funds name Sudan-tied holdings
Jewish Daily Forward: Dec. 4, 2007 - Netanyahu Meets With Clinton, Thompson on Iran Divestment
Austin American-Statesman: Nov. 28, 2007 - TX Gov's Iran Divest Push
Pension & Investments: Aug. 6, 2007 - Divestment is the wrong answer
Newsweek: Activists have brought issues like Darfur into living rooms.
Pensions & Investments: Sept. 19, 2007 - Florida Iran divestment begins
Harvard Crimson, Oct. 5, 2007: No State Funds in Myanmar
Houston Chronicle: July 18,2007 – Texas Gov wants Pension Funds out of Iran
What's Happening In Other States
US district judge voids Illinois law barring Sudan investments
State by State Update on Iran Divestment Legislation
Posted: 11/04/07
What has the federal government done about divestment?
