Jesse M. Unruh; California state treasurer 1975-1987.(P&I at 30: The difference-makers)(Brief Article)

Pensions & Investments, October, 2003 by Kozlowski, Rob

Byline: Rob Kozlowski In 1984, Jesse Unruh, as state treasurer and trustee of the California Public Employees' Retirement System and California State Teachers' Retirement System, was so outraged by the payment of "greenmail'' by Texaco Inc. to the Bass brothers that he asked the nation's public pension funds to support a new shareholder organization to stand up against corporate management decisions that would financially hurt the funds.

Mr. Unruh and several other representatives from public and Taft-Hartley funds helped form the Council of Institutional Investors in January 1985, with 22 public and union pension fund members controlling $100 billion in assets. The council created a shareholders' bill of rights, establishing the principle that all...

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