Cay Walker News Today

Commissioner bridges has indicated she is on her way. Commissioner driscoll. Commissioner makras will not be present. Commissioner meiberger is out of the country. Commissioner paskin jordan. Present mpt commissioner stansbury item 3 general Public Comment. Thank you. Speak into the m ic. Sorry i couldnt help myself, you always say it, i had to say it to you. [inaudible] good afternoon commissioners. Im patrick [inaudible]. Executive director hish to hand a verbatim transscript of last months me...

Seeing no discussion is there a motion to move the motion to approve this item 4 . I move. Thank you motion made and seconded. Is there objection . Lets take Public Comment. Sorry to get in your way, commissioner. Not in my way if nothing else i ask that you read the poll quotes in the transscript i handed out on page 5 and the foot notes. These draft minutes are deplorable. You should also table adopting them. [inaudible] executive secretary wasted no effort to accurately summarize and report t...

The supervisor said i want to get a lot of money. So do i. Thousands of city workers signed petitions saying they dont want their what the city workers think and i think thats a statement really of the problem that we have here. The city workers retirees an active city workers have a right to have a pension fund that is going to be secure and theyre very concerned that proposals to turn it into hedge funds will put their pensions in jeopardy and the fact that you have somebody who sells Pension ...

The connection theyre trying to make here is that wendy paskinjordan has been a barrier to the Due Diligence of the board finding out whether or not they are sitting on significant carbon risk. I would say that its up to this board here to up hold the integrity of its board through this. And theres a difference between intent and action. Theyre very separate things and although intentd is significant the action is without a doubt where the rule was broken. So when funds were traded after ms. Pas...

Retirement board was asked to do. Another aspect thats change td since april of 2013 is the new energy landscape. Even a few years ago its here. Renewable cheap energy is seriously impacking traditional Power Generation an power companies. In the u. S. Coke brothers i could go on about that. The third is the carbon bubble. More and more authority, the bank of london, the british financial minister say wezre in the midst of a carbon bubble that could plummet and make the retirement board has to t...

That was such a different time. During the nearly two years since that spring 2012 vote the retirement board has done little but waffle and mumble about how risky it might be. Ive been to those meetings, i speak from experience. The world has moved forward around them and the reason to divest in momentum to do them have grown spectacularly. The reasons that i think motivate it had board of supervisors to vote was the reality of Climate Change and the scientific news keeps getting more terrible i...

The scientific news keeps getting more terrible in the 20 months since you vote. Were now in a race to save the world from the worst Case Scenario frs Climate Change divest ment as this retirement board was asked to do. Another aspect thats change td since april of 2013 is the new energy landscape. Even a few years ago its here. Renewable cheap energy is seriously impacking traditional Power Generation an power companies. In the u. S. Coke brothers i could go on about that. The third is the carb...

Td since april of 2013 is the new energy landscape. Even a few years ago its here. Renewable cheap energy is seriously impacking traditional Power Generation an power companies. In the u. S. Coke brothers i could go on about that. The third is the carbon bubble. More and more authority, the bank of london, the british financial minister say wezre in the midst of a carbon bubble that could plummet and make the retirement board has to the tune of i think 3500 million thats worthless. So lets catch...

Whats the value of the assets managed by the board . Approximately 20 billion. And how many employees are impacted, if you will, in terms of the retirement . How many employees are we talking about . Active and retirees we have over 56,000 members. Okay. What i would say is i personally think we have a responsibility to these workers, to these retirees to make sure that when you have people that are part of this seven member body that oversee 20 billion in assets, that the individuals are comply...

Another aspect thats change td since april of 2013 is the new energy landscape. Even a few years ago its here. Renewable cheap energy is seriously impacking traditional Power Generation an power companies. In the u. S. Coke brothers i could go on about that. The third is the carbon bubble. More and more authority, the bank of london, the british financial minister say wezre in the midst of a carbon bubble that could plummet and make the retirement board has to the tune of i think 3500 million th...