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Business Journal: CalPERS' Tough Love Boosts Companies' Stock

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(Sacramento, CA)
Thursday, August 19, 2010
The California Public Employees’ Retirement System’s closely watched Focus List has identified underperforming publicly traded companies — many of them well-known businesses — since 1987.  The nation’s largest pension fund’s list is basically a calling-out of companies that need to make changes to their operations, from boosting the bottom line to improving management, all in the hope of lifting their poorly performing stock.
Before companies are listed on the Focus List, they produced average annual returns that are 30 percent lower than their industry average.  But five years after the companies are on the much-dreaded list, they outpace their industries by 2.4 percent.
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