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View Diary: San Francisco Board of Supervisors UNANIMOUSLY Passes Resolution to Divest from Fossil Fuel (64 comments)

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  •  when I multiply 8.7% times $16B I get (1+ / 0-)
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    $1.392B, not $583M. Am I missing something?

    •  good catch (4+ / 0-)
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      valion, Creosote, northsylvania, MGross

      the way Jay Huish from the retirement fund explained it is that they can't divest from co-mingled funds and that the total public holdings they can legally divest from is $8.6 billion, of which $528 million is 8.7%. That was what he said at the hearing a couple of weeks ago and the numbers I copied and pasted from my last diary. It looks like they adjusted that number to $583 Million before this meeting today, but it's still roughly about the same percentage if you count the non co-mingled holdings. Obviously, the press release cites the total holdings of $16 billion, so the $583 million would only be about 4%. So this is a really good question: should the base number only be the "divestable" $8.6 billion or the total $16 billion?

      I should probably contact and ask what they think. Or wait till the city comes out with its own press release and use that as the official count.

      Ecology is the new Economy

      by citisven on Tue Apr 23, 2013 at 08:39:15 PM PDT

      [ Parent ]

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