California 2012 ballot may include measure to divest from Israel
California may have a proposition on its 2012 ballot requiring the State and its employee unions to divest from investments in the State of Israel. A similar measure failed to qualify for the 2010 ballot (Hat Tip: Steven G).Secretary of State Debra Bowen today cleared a Sacramento man to take a second crack at putting before California voters an initiative that would bar the state’s gigantic public employee pension funds from investing in companies engaged in certain business activities in Israel.The two unions in question have more than $300 billion under management. I'm sure a divestiture would solve all of the State's myriad budget problems.
The Attorney General’s official title and summary for the measure is as follows:PROHIBITS STATE RETIREMENT FUNDS FROM INVESTING IN COMPANIES ENGAGED IN CERTAIN BUSINESS ACTIVITIES IN ISRAEL. INITIATIVE STATUTE. Requires the Public Employees’ Retirement System and State Teachers’ Retirement System to identify investments in companies that do business related to the construction or maintenance of Israeli settlements, including those in the West Bank and East Jerusalem, or that provide military supplies and services to Israel. Requires retirement funds to urge these companies to stop these business activities, and, subject to fund fiduciary responsibilities, to divest from companies still engaged in these activities. Prohibits retirement funds from making new investments in these companies. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local governments: Potential increase in state and local government pension contributions, the amount of which would vary from negligible to more significant based on how this measure’s divestiture requirements are interpreted and implemented. (10-0020.)Proponent Chris Yatooma has until Jan. 31 to collect 433,971 valid petition signatures from registered voters in order to place the divestiture measure on the 2012 presidential primary ballot.
posted by Carl in Jerusalem @ 2:18 PM
6 Comments:
Some one failed to inform him there is a peace process going on but to those who hate Israel, Jewish kindness is wasted upon them.
What could go wrong indeed
I received that news brief via LoneWolfMilitia.
As a lifetime citizen of California I can tell you this sickens me. I had typed out a comment about the absolute hatred of Jews in the world today, But I deleted it instead of posting it. Why is their so much absolute hatred of Jews in the world today? I can tell you it absolutely sickens me.
I thought that this is illegal in the US.
may get the the amount of signatures to qualify...but will fail once on the ballot
every politician in california will line up against the measure
the only county that it may pass in is sf
This is in a Machiavellian a good thing. All of Jerry Brown and Obama's supporters will be for it creating a wedge issue
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