Pension Funds Press CACI on Iraq Prison Role (Wash Post)

[stevedeshazer]

link here: http://www.washingtonpost.com/wp-dyn/articles/A33178-2004Jun10.html

By Ellen McCarthy
Washington Post Staff Writer
Friday, June 11, 2004; Page E01

CACI International Inc. is facing growing pressure from California pension funds that own large stakes in the company over its role in the Abu Ghraib prison scandal, prodded by the California state treasurer who says the company owes its shareholders a full explanation.

Directors of one of the funds, the California Public Employees' Retirement System, or Calpers, plan to meet Monday to discuss concerns about management controls, training and legal procedures at the Arlington-based government contractor.

CACI employs Steven Stefanowicz, an interrogator in Iraq who has been implicated in an Army report on prisoner abuses at the U.S.-run prison near Baghdad. Calpers said the company needs to explain what it did to train and supervise interrogators and to protect shareholders from the risk associated with that work.

"It's not only bad practice from a social perspective, but it's bad practice from a company perspective," said Sean Harrigan, Calpers president of administration. "We would be remiss in our responsibility as trustees and fiduciaries if we didn't take a look at . We think it would be appropriate for us to enter into a dialogue with the CEO."
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What must California public employees think about having their pensions tied into CACI....

[Eye and Monkey]

1. "What must California public employees think about having their pensions"

And -

What must California public employees think about having their pensions about to go down the tubes with CACI?

[cliss]

2. well, well some unintended consequences.

I just posted a thread on the LBN about Titan Corporation. Apparently, they are having some bad press about the Abu Ghraib prison scandal.

And now the Calpers is starting to get cold feet. Who would want these guys now? Ugh.

I guarantee you this will cause their stock to go down. There were several negative articles in the Dow Jones stock report. I didn't have time to read them. On second thought, I think I do have the time.

[FreakinDJ]

3. They got burned pretty hard on Enron (Calpers)

I imagine they are ready to pull out as the news of the lawsuits start to rise. I am sure in the "New Democracy" (Iraq) there are plenty of Lawyers willing to ply their skill at seeking settlements related to the torture scandal. If the Bush administration starts to apply pressure to CACI to settle out of court to keep them out of the news then it will turn into a revolving door of money.

File...get paid to shut up

[struggle4progress]

4. Oooh! This would be a nice corporate campaign!

How many state pension funds own CACI?

[struggle4progress]

5. kick back to front page

:kick: