2003 News Releases

2003 News Releases

Overview
News release

Institutional Investors’ Full-Page Ad in USA Today Calls for Vote to Move Ingersoll-Rand Back from Bermuda

Washington, DC – Concerned about loss of shareholder rights and long-term investment returns, a cross-section of U.S.institutional investors, state treasurers and labor unions took out a full-page ad in USA Today on Tuesday (May 27) urging Ingersoll-Rand to “Come Home to America” from its off-shore tax haven in Bermuda.

 

“Ingersoll-Rand, with hundreds of millions of dollars in defense and homeland security contracts, operates from a mailing address on the sandy shores of Bermuda,” the ad reads. “That’s bad for shareholders.”

News release

CalSTRS Unveils “The Perfect Stock Option Plan”

Sacramento, CA – The California State Teachers’ Retirement System today released recommendations by Graef Crystal for reform of executive stock option plans. The paper, commissioned by CalSTRS, details what Crystal calls “the perfect stock option plan.” Crystal’s recommendations will aid CalSTRS in future executive compensation proxy votes and discussions with companies regarding corporate governance best practices.

 

News release

Institutional Investors’ Full-Page Wall Street Journal Ad Builds Pressure on Tyco, Others to Return to U.S. Soil

Washington, DC – Concerned about loss of shareholder rights and long-term investment returns, a cross-section of U.S.institutional investors, state treasurers and labor unions took out a full-page ad in The Wall Street Journal today urging Tyco and other expatriate companies to “Come Home to America” from their offshore tax havens.

 

“Ahh, Bermuda,” says the ad. “A nice place for a vacation…but should U.S. companies take legal refuge there?”

News release

Reincorporation Efforts Gain Momentum with ISS Recommendation Supporting Tyco Return to the U.S.

Washington, DC – Major institutional investors including public pension funds, union funds, state treasurers and others today applauded the Institutional Shareholder Services decision in favor of a shareholder proposal urging reincorporation of Bermuda-based Tyco back to the United States. ISS found Tyco has failed to make its case for locating in an off-shore tax haven.

 

News release

U.S. Alternative Investment Advisor Named by CalSTRS

Sacramento, CA – The California State Teachers’ Retirement System has selected Cambridge Associates LLC as its advisor for U.S. alternative investment partnerships. Cambridge Associates will recommend U.S. partnerships, perform due diligence and assist and advise CalSTRS staff on those investment opportunities.

“Cambridge has the experience, philosophy and background we need to continue the excellence of our AI portfolio,” said Real Desrochers, CalSTRS director of alternative investments. “They have an outstanding ability to help us add value to the AI portfolio.”