Imagine this: You live somewhere, anywhere, in the USA and on Saturday morning you and your partner set off to do some errands.
First, you stop at an Exxon station and gas up your car. Once again, your partner complains about the high cost of gas, and the outrageous profits of oil companies. But, you explain that California's public employees, among and millions of other working Americans, in every state, appreciate your business. The California Public Employees Retirement System (CalPERS) owns millions of ExxonMobil shares, and Exxon's corporate profits help pay for their pensions.
Next. You're off to Wal-Mart to pick up a couple of things for the garden and house. As you swipe your credit card to pay, California's public employees thank you again. Their retirement fund owns millions of Wal-Mart shares, and each time the company earns a profit on a sale to a customer, a portion of … Read More