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I've bumped this post to the front again. CA Assembly Bill 221 cleared the Assembly on a historic 75 AYES 0 NOES bipartisan vote and currently is making its way through the CA Senate. It has been passed by both the public pension committee and the judiciary committee on 5 AYES 0 NOES votes. AB221 is now awaiting hearing in the Senate Appropriations Committee.

Related posts at RBT re tanking the Iranian Regime:

Cracking Iran, From Inside And Out

AB221 - NO MORE BLOOD MONEY FOR IRAN!

[Way cool music video created by x_dhimmi in support of the Iranian Divestiture Project to the music of Queen's, We Will Rock You!

IRAN - The Coming Nuclear War - "Bad Moon Rising"

BREAKING - AB221 CA Asm Floor Vote 75 AYES 0 NOES

RBT

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The Iranian Divestiture Project

RBT was approached a long time ago by Dr. Zin (AKA Gary Metz) of Regime Change Iran to advocate within the CA law enforcement community to urge Cal-PERS to divest it's holdings in Iran. At that time Iran had not emerged as a pivotal player in the GWOT.

Kenneth Timmerman recently wrote a piece at FrontPageMag.Com advocating such action be taken now, What You can Do about Iran. He also wrote a follow-up piece, Divest Iran. Scott Malensek and Steve Schippert have seen the declining gas refinery capacity as the Achilles' Heel of this regime. Iranian President Mahmoud Ahmadinejad and supporters are siphoning off Iranian oil revenues to fund their apocalyptic nuclear vision, the terrorist organizations of Hamas, and Hezbollah, and providing support for both the Shi'ia and Sunni factions in Iraq. Continuing on this path will is cause the Iranian economy to tank for lack of investment in its oil and gas refining infrastructure. The Iranian Regime is imposing gas rationing later this month.

UPDATE 05-10-07: WSJ Online Journal and Strategy Page both have articles regarding the Iranian economy is tanking and the resultant consequences now faced by the Iranian Regime.

The Iranian Regime is actively involved in killing our troops on the ground in Iraq. PJM just released this exclusive:

A Pajamas Media exclusive video and interview about the Iranian weapons flooding Iraq.

By Richard Miniter

. . . a large story the rest of the media missed: the weapons themselves. These Iranian weapons and others like them are killing American soldiers.

. . . . Like other skilled bomb technicians, he can examine the components and design of a bomb or weapon and tell you who made it and where. For the weapons shown in this video, he can even point out the page in the Iranian arms sales catalog where one can find these weapons. As for why Iran is selling or giving these weapons to insurgents, that is a question for someone else.

Timmerman is leading an effort to convince public pension funds to divest in companies still doing business with this terrorist regime. See Timmerman's letter of support for California Assembly Bill 221. RBT is assisting in this effort in California. Dr. Michael Ledeen of the American Enterprise Institute is also in support of this effort:

It could very well help, and it's a fine gesture. It might convince the administration to do something serious. It's a total win, in short.

Regardless of your views on the Global War on Terror, many California law enforcement officers were activated in National Guard Units and are serving in many capacities in the GWOT. The Iranian Regime is directly involved in killing our troops. To put this into proper perspective think of the world circa 1938 and those businesses that were doing business with the Third Reich.

RBT is greatly dismayed too that his own pension fund, Cal-PERS, is invested in companies that are continuing to do business with this terrorist regime. California Assemblyman Joel Anderson has introduced AB221 that will require Cal-PERS to divest itself of companies still doing business with Iran similar to what was done with Sudan. RBT is currently working to gain the support of my police officers' association of which RBT is a past president. Further RBT is working to garner the support of the Peace Officers' Research Assn of California (PORAC), a statewide law enforcement labor organization that most police associations are members.

AB221 is currently in the California Assembly's Appropriations Committee. If passed and signed by the governor this bill will become effective in January 2008. This may be too late to be effective. There is action that can be taken now whether this bill become law or not. As RBT expressed in his letter of support to the Appropriations Committee:

. . . concern expressed by the investment committees of both Cal-PERS and STRS to companies still doing business with this terrorist regime may be all that is needed to cause these companies to cease doing business in Iran. The Iranian economy is in a precarious position right now . . . The current regime by funding its apocalyptic quest to obtain nuclear capability, terrorist organizations of Hamas and Hezbollah as well as both Shi'ia and Sunni factions in Iraq have neglected its oil and gas infrastructure. Strategic pressure brought to bare on these key sectors of the Iranian economy will cause the economy to fail and the regime will implode.

Both Cal-PERS and the California State Teachers' Retirement System (STRS) have expressed fiduciary concerns regarding the potential for investment losses as they experienced with the Sudan divestiture. As RBT expressed in his initial letter of support for AB221, this is ill-advised:

If this Regime is successful in producing several low yield nuclear devices then all bets will be off. Cal-PERS is currently expressing fiduciary concerns regarding potential investment losses as they experienced with the Sudan divestiture. Any investment losses incurred by Cal-PERS will be pale in comparison to the disruption of the world economy and resultant economic losses if this Regime should gain nuclear capability. If this Regime can be toppled by the Iranian people without the need for brute military force, there will be plenty of new business opportunities for all institutional investors.

. . . To put this into proper perspective think of the world circa 1938 and those businesses that were doing business with the Third Reich.

RBT could use some help in getting the word out to all CA law enforcement officers serving or have served in the GWOT. RBT needs letters of support from these officers and other officers either active or retired expressing their dismay that their pension fund is invested in companies still doing business with Iran. RBT believes we can finesse Cal-PERS and STRS to bring strategic pressure on these companies to cease doing business with this terrorist regime. Because Cal-PERS and STRS are such huge institutional investors, the mere inquiry by their investment committes may be all that is necessary to bring about the desired action without throwing the baby out with the wash.

RBT is willing to collect these letters and see that they reach the right people. Please send them to the following address and include "AB221" in the subject line:

nar9350@gmail.com

RBT

UPDATE 07-27-07

The word that Cal-PERS has seen the "light" is starting to spread through the business journals. As Assemblyman Lieu chided Cal-PERS during the hearings in the Assembly Appropriations Co, the fund managers could take these exact actions to mitigate any potential fund loses. Lieu also hit the nail on the head that these fund mangers were betting against the strategic interests of the US that the Iranian Regime would survive and that was just plain wrong and investments returns were "blood money."

Assembly Anderson was recently quoted in the WSJ:

Some politicians have greeted the moves by members of this coalition — which includes the U.S.'s largest public pension fund, California Public Employees' Retirement System — with skepticism. California State Assemblyman Joel Anderson, author of an Iran divestment bill that passed the state Assembly and now goes to the Senate, says pension funds that have lobbied hard against these divestment bills can't be trusted to follow through with divestment.

"All of a sudden they got religion?" Mr. Anderson asks. "I don't believe for a second [Calpers] would continue with the process of divestment unless we made it law." Calpers declined to comment.

[Note: This is a WSJ subscription only art. The entire piece can be found at this site monitors Royal Dutch Shell]

Of course RBT wrote Cal-PERS and Cal-STRS suggesting they do this exact thing a number of months ago.

RBT

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Other business journals reporting on Cal-PERS' warning letters:

CalPERS asks portfolio energy companies to minimize Iran risk
San Francisco Business Times - 4:24 PM PDT Tuesday, July 24, 2007
by Chris Rauber

International Herald Tribune
Dealing with Iran: Finally, a stick
By Stanley A. Weiss
Thursday, July 26, 2007

From The Times [UK]
July 26, 2007
US pension funds ask Shell to scrap £5bn Iran project
Steve Hawkes

New York Times
July 25, 2007
Funds Pressure Oil Companies on Iran Links
By JAD MOUAWAD

Shell Mulls Iran Deal Despite US Pressure
Smartmoney.com - USA
... of investment in Iran." The fund added that pending US state legislation is increasingly raising the prospect of funds "having to divest investments in ...