CalPERS is after info on UnitedHealth's backdating

Article by: DAVID PHELPS , Star Tribune
Updated: June 9, 2008 - 10:33 PM

Attorneys argue for access to UnitedHealth's stock-option decisionmaking process.

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swschradJun. 9, 08 2:38 PM

it is often said that the gold standard of corporate behavior should be "no disasters" if their internal documents were on the front page of the morning papers. if United Health wants to defend themselves, first open the documents. SSNs and stuff should be able to be redacted by a special court master.

dlzabzJun. 9, 08 3:15 PM

yeah, then why didn't CalPERS disclose it's heavily weighted investment in subprime mortgages before the meltdown? CalPERS is anti-business nothing more than the Elliot Spitzer of the pension world.

anderspadeJun. 9, 08 4:23 PM

A lot of pensions didn't even know they were invested in subprime mortgages. The rating agencies are at fault. You can bet CalPERS didn't didn't even know their weight in the subprime paper.

uscitizenJun. 9, 08 4:39 PM

I have heard that UnitedHealth has impemented a new and comprehensive ethics policy. I wonder if they use E-Verify to screen out employees with expired visas and other illegal aliens? Hopefully their frshly minted ethics policy has them complying with all the laws of the land.

TroutYammerJun. 9, 0811:46 PM

Seems like the ethical thing to do. If they are hiring illegal aliens with expired visas that would really be an embarrasing issues for stock holders to unexpectedly find out about.

rickowensJun. 10, 08 8:46 AM

calling Lori Swanson.

dlzabzJun. 10, 0812:25 PM

CalPERS has it's own hedging strategy to invest in commodities. You're telling me they have people who know how to invest in commodities but didn't know and disclose the risk around investing in CDO's? C'mon, give me a break.

Art15651Jun. 10, 0812:58 PM

>>A lot of pensions didn't even know they were invested in subprime mortgages. The rating agencies are at fault. You can bet CalPERS didn't didn't even know their weight in the subprime paper.<< And this is different than McGuire not knowing that the backdated options were being accounted for properly?!? So that would make the stock market at fault using your logic.

Art15651Jun. 10, 08 1:00 PM

My post got cut off. The remainder of it said: So how is this different from McGuire not knowing about the improper accounting for the backdated options!?! Using your logic, the backdating issue is the fault of the stock market itself for not discovering it and pointing it out.