![[Valid RSS]](valid-rss.png "Validate my RSS feed")
BREAKING - Schwarzenegger to sign Iranian Divestiture Bill (CA AB221)
SCROLL FOR UPDATES
Welcome Instapundit Readers please spread the word. This is a message that needs to reverberate throughout the free world.
RBT
BREAKING - Sacramento, CA
HT Los Angeles Local News
The Guvernater steals thunder from Iranian President Ahmadinejad in New York today. See RBT's letter below urging Governor Schwarzenegger to sign CA Assemblyman Joel Anderson 's (R- San Deigo) bill - AB221 Cal-PERS/Cal-STRS Iranian Divestiture. This is the strong unambiguous message that the free world needs to send to the Islamofascist Iranian Regime that holds the Iranian people hostage, denies the Holocaust and continues to deny the free will of men and woman.
See previous posts at RBT.
RBT
*****
UPDATE: Press Release from the Office of the Governor
(HT www.cjhsla.org)
State of California - Office of the Governor, Arnold Schwarzenegger
PRESS RELEASE
09/24/2007 GAAS:750:07 FOR IMMEDIATE RELEASE
Governor Schwarzenegger Issues Statement on California's Divestment from Iran
Governor Arnold Schwarzenegger issued the following statement today regarding legislation to divest from Iran, AB 221.
"California has a long history of leadership and doing what's right with our investment portfolio. Last year, I was proud to sign legislation to divest from the Sudan to take a powerful stand against genocide. I look forward to signing legislation to divest from Iran to take an equally powerful stand against terrorism."
AB 221 by Assemblymember Joel Anderson (R- La Mesa) creates the California Public Divest from Iran Act which prohibits CalPERS and CalSTRS from investing public employee retirement funds in a company with business operations in Iran. CalPERS, the state's employee retirement fund, is the largest pension fund in the nation and CalSTRS, the state's public education retirement fund, is the second largest pension fund in the nation.
In September 2006 Gov. Schwarzenegger signed two bills, AB 2179 and AB 2941, prohibiting the state's pension funds from investing in companies with active business in Sudan and indemnified the University of California from liability that might result from its divestments from Sudan.
In the 1980s, the state approved similar measures to allow state entities to divest in South Africa in order to protest its apartheid policies.
*****
State to cut ties with firms doing business in Iran
Schwarzenegger says he will sign legislation requiring California's multibillion-dollar state pension funds to divest from the country.
SACRAMENTO — As the world watched for news of Iranian President Mahmoud Ahmadinejad in New York, Gov. Arnold Schwarzenegger, who also happened to be in town, prepared to steal some of the spotlight by announcing that California would sever ties with companies doing business in Iran.
*****
September 18, 2007
The Honorable Arnold Schwarzenegger
Governor of the State of California
Sacramento, California
Re: Requesting the Governor's signature on AB221 Cal-PERS Iranian Divestiture
Dear Governor Schwarzenegger:
The world's media is closely watching California and the progress of AB221 through the legislature. Our enemies in the GWOT are too watching. On behalf of the Riverside Police Officers' Association, Governor Schwarzenegger, I call upon you to sign AB221 (Assemblyman Joel Anderson – San Diego). In doing so you will send a strong message to the free world's enemies that seek the total destruction of our way of life.
On June 20, 2007 the Riverside Police Officers' Association Board of Directors (RPOA) on behalf of its more than 350 men and women members adopted a resolution strongly endorsing AB221. The Iranian Regime is directly involved in killing our troops in Iraq and Afghanistan. The RPOA and other CA public employee organizations have members serving in harm's way in the Global War on Terror (GWOT). We are greatly dismayed that our pension funds are invested in companies that are continuing to do business with this terrorist Regime.
.
Cal-PERS and Cal-STRS fund managers are opposed to AB221 because of potential fiduciary, indemnity and fund losses concerns. This position is shortsighted. These fund managers are betting against the strategic interests of the United States that the Iranian Regime will survive. This is wrong. Should this Regime achieve nuclear capability the potential fund losses will be pale in comparison to those driven by world geo-political, social and economic upheaval. The RPOA agrees with CA Assemblyman Lieu who said that the profit derived from these investments is "blood money." The RPOA finds this particularly offensive and counter to the interests of its members. To put this into proper perspective consider the world history circa 1938 and those businesses that were doing business with the Third Reich.
All that may be necessary to cease Iranian investments is for Cal-PERS and Cal-STRS to express their concerns regarding the worthiness of continued involvement with this Regime. AB221 allows for these preliminary actions short of actual divestiture. The Iranian economy is in a very precarious position. The Regime in funding its apocalyptic quest for nuclear weapons and Islamofacist terrorist organizations worldwide has neglected its oil and gas infrastructure. The Regime is subsidizing very low gasoline prices. The Regime has only one remaining functional gasoline refinery and must import almost 50% of its refined gasoline. The Regime recently implemented gasoline rationing and allowed gas prices to rise. Strategic pressure brought to bare on these key sectors of the Iranian economy will cause the Regime's economy to fail. The Regime will implode.
There is considerable civil unrest by the Iranian people that is going unreported by the mainstream media. The Iranian "joyless generation" is growing very restless. The Iranian trade unions are striking even though many have been arrested and tortured. If the Iranian people can topple the Regime without the need for military force, there will be plenty of new business opportunities for all institutional investors.
California as a nation state is among the ten largest world economies and need not wait for federal action. California can take a leading role in the Iranian divestiture movement. Former Israeli Prime Minister Benjamin Netanyahu is spearheading this movement to use as a strategic weapon against the Regime. This divestiture movement is gathering great momentum in both the US and the world.
Governor Schwarzenegger in closing on behalf of the RPOA, I call upon you to sign AB221. Your action will send a strong message to the free world's enemies in the GWOT.
Sincerely,
XXXXXXX, Past-President
Riverside Police Officers' Association
RBT
*****
HT LA Times
Gov. Arnold Schwarzenegger addresses the United Nations.
Schwarzenegger says he will sign legislation requiring California's multibillion-dollar state pension funds to divest from the country.
By Evan Halper, Los Angeles Times Staff Writer
8:17 AM PDT, September 24, 2007
SACRAMENTO — As the world watched for news of Iranian President Mahmoud Ahmadinejad in New York, Gov. Arnold Schwarzenegger, who also happened to be in town, prepared to steal some of the spotlight by announcing that California would sever ties with companies doing business in Iran.
Schwarzenegger, who like Ahmadinejad went to New York to address the United Nations, told The Times in a written statement that he would sign legislation requiring California's multibillion-dollar state pension funds to divest from the country.
The move, pushed by a diverse coalition of activists who argue that the federal government has not done enough to keep multinational corporations out of Iran, puts California at the forefront of a national movement.
The bill, AB 221, which the governor plans to sign when he returns to California, passed the Legislature with no opposition and follows the state's divestment from Sudan last year.
[...]
Welcome Instapundit Readers please spread the word. This is a message that needs to reverberate throughout the free world.
RBT
BREAKING - Sacramento, CA
HT Los Angeles Local News
The Guvernater steals thunder from Iranian President Ahmadinejad in New York today. See RBT's letter below urging Governor Schwarzenegger to sign CA Assemblyman Joel Anderson 's (R- San Deigo) bill - AB221 Cal-PERS/Cal-STRS Iranian Divestiture. This is the strong unambiguous message that the free world needs to send to the Islamofascist Iranian Regime that holds the Iranian people hostage, denies the Holocaust and continues to deny the free will of men and woman.
See previous posts at RBT.
RBT
*****
UPDATE: Press Release from the Office of the Governor
(HT www.cjhsla.org)
State of California - Office of the Governor, Arnold Schwarzenegger
PRESS RELEASE
09/24/2007 GAAS:750:07 FOR IMMEDIATE RELEASE
Governor Schwarzenegger Issues Statement on California's Divestment from Iran
Governor Arnold Schwarzenegger issued the following statement today regarding legislation to divest from Iran, AB 221.
"California has a long history of leadership and doing what's right with our investment portfolio. Last year, I was proud to sign legislation to divest from the Sudan to take a powerful stand against genocide. I look forward to signing legislation to divest from Iran to take an equally powerful stand against terrorism."
AB 221 by Assemblymember Joel Anderson (R- La Mesa) creates the California Public Divest from Iran Act which prohibits CalPERS and CalSTRS from investing public employee retirement funds in a company with business operations in Iran. CalPERS, the state's employee retirement fund, is the largest pension fund in the nation and CalSTRS, the state's public education retirement fund, is the second largest pension fund in the nation.
In September 2006 Gov. Schwarzenegger signed two bills, AB 2179 and AB 2941, prohibiting the state's pension funds from investing in companies with active business in Sudan and indemnified the University of California from liability that might result from its divestments from Sudan.
In the 1980s, the state approved similar measures to allow state entities to divest in South Africa in order to protest its apartheid policies.
*****
State to cut ties with firms doing business in Iran
Schwarzenegger says he will sign legislation requiring California's multibillion-dollar state pension funds to divest from the country.
SACRAMENTO — As the world watched for news of Iranian President Mahmoud Ahmadinejad in New York, Gov. Arnold Schwarzenegger, who also happened to be in town, prepared to steal some of the spotlight by announcing that California would sever ties with companies doing business in Iran.
*****
September 18, 2007
The Honorable Arnold Schwarzenegger
Governor of the State of California
Sacramento, California
Re: Requesting the Governor's signature on AB221 Cal-PERS Iranian Divestiture
Dear Governor Schwarzenegger:
The world's media is closely watching California and the progress of AB221 through the legislature. Our enemies in the GWOT are too watching. On behalf of the Riverside Police Officers' Association, Governor Schwarzenegger, I call upon you to sign AB221 (Assemblyman Joel Anderson – San Diego). In doing so you will send a strong message to the free world's enemies that seek the total destruction of our way of life.
On June 20, 2007 the Riverside Police Officers' Association Board of Directors (RPOA) on behalf of its more than 350 men and women members adopted a resolution strongly endorsing AB221. The Iranian Regime is directly involved in killing our troops in Iraq and Afghanistan. The RPOA and other CA public employee organizations have members serving in harm's way in the Global War on Terror (GWOT). We are greatly dismayed that our pension funds are invested in companies that are continuing to do business with this terrorist Regime.
.
Cal-PERS and Cal-STRS fund managers are opposed to AB221 because of potential fiduciary, indemnity and fund losses concerns. This position is shortsighted. These fund managers are betting against the strategic interests of the United States that the Iranian Regime will survive. This is wrong. Should this Regime achieve nuclear capability the potential fund losses will be pale in comparison to those driven by world geo-political, social and economic upheaval. The RPOA agrees with CA Assemblyman Lieu who said that the profit derived from these investments is "blood money." The RPOA finds this particularly offensive and counter to the interests of its members. To put this into proper perspective consider the world history circa 1938 and those businesses that were doing business with the Third Reich.
All that may be necessary to cease Iranian investments is for Cal-PERS and Cal-STRS to express their concerns regarding the worthiness of continued involvement with this Regime. AB221 allows for these preliminary actions short of actual divestiture. The Iranian economy is in a very precarious position. The Regime in funding its apocalyptic quest for nuclear weapons and Islamofacist terrorist organizations worldwide has neglected its oil and gas infrastructure. The Regime is subsidizing very low gasoline prices. The Regime has only one remaining functional gasoline refinery and must import almost 50% of its refined gasoline. The Regime recently implemented gasoline rationing and allowed gas prices to rise. Strategic pressure brought to bare on these key sectors of the Iranian economy will cause the Regime's economy to fail. The Regime will implode.
There is considerable civil unrest by the Iranian people that is going unreported by the mainstream media. The Iranian "joyless generation" is growing very restless. The Iranian trade unions are striking even though many have been arrested and tortured. If the Iranian people can topple the Regime without the need for military force, there will be plenty of new business opportunities for all institutional investors.
California as a nation state is among the ten largest world economies and need not wait for federal action. California can take a leading role in the Iranian divestiture movement. Former Israeli Prime Minister Benjamin Netanyahu is spearheading this movement to use as a strategic weapon against the Regime. This divestiture movement is gathering great momentum in both the US and the world.
Governor Schwarzenegger in closing on behalf of the RPOA, I call upon you to sign AB221. Your action will send a strong message to the free world's enemies in the GWOT.
Sincerely,
XXXXXXX, Past-President
Riverside Police Officers' Association
Update II:
RBT
*****
HT LA Times
Gov. Arnold Schwarzenegger addresses the United Nations.
Schwarzenegger says he will sign legislation requiring California's multibillion-dollar state pension funds to divest from the country.
By Evan Halper, Los Angeles Times Staff Writer
8:17 AM PDT, September 24, 2007
SACRAMENTO — As the world watched for news of Iranian President Mahmoud Ahmadinejad in New York, Gov. Arnold Schwarzenegger, who also happened to be in town, prepared to steal some of the spotlight by announcing that California would sever ties with companies doing business in Iran.
Schwarzenegger, who like Ahmadinejad went to New York to address the United Nations, told The Times in a written statement that he would sign legislation requiring California's multibillion-dollar state pension funds to divest from the country.
The move, pushed by a diverse coalition of activists who argue that the federal government has not done enough to keep multinational corporations out of Iran, puts California at the forefront of a national movement.
The bill, AB 221, which the governor plans to sign when he returns to California, passed the Legislature with no opposition and follows the state's divestment from Sudan last year.
[...]
Related Posts (on one page):
- BREAKING - Schwarzenegger to sign Iranian Divestiture Bill (CA AB221)
- The Achilles' Heel of the Iranian Regime [BUMPED]