CalPERS -- California's Enormous Pension System for State Employees -- Backs Peltz and Jay Rasulo in Disney Proxy Fight

They've got a lot of Disney shares to vote.

The California Public Employees Retirement System (CalPERS) said on Friday it voted to elect activist investment firm Trian Fund Management's two director candidates to Walt Disney's board, in one of the most closely watched and expensive battles for corporate control.

"CalPERS believes Walt Disney Co will benefit from fresh eyes on its board of directors and voted its company shares in favor of candidates Nelson Peltz and Jay Rasulo," the U.S. pension fund, which owned 6.65 million shares in the entertainment giant at the end of December, told Reuters.

CalPERS, which ranks among Walt Disney's top 30 investors, according to LSEG data, said its "established voting guidelines focus on the need for independent corporate boards, a say in setting executive pay, and increased transparency. Two new directors who are qualified and capable of leading needed change in corporate governance will serve the Disney board well."

On Friday I posted that among the votes already cast, about 22%, Peltz was beating the board member he was running against. (Rasulo was losing.)

I don't know if that leaked tally of votes included CalPERS' pile of votes or not.

The shareholder meeting will be held on Wedenesday. We'll see the vote tally then.

Something they should keep in mind: Bob Iger's decision to fight for homosexual grooming in grades K through 3rd resulted in the loss of the Reedy Creek district, at a cost of one trillion dollars.

That's one trillion dollars over 100 years, to be fair, but corporations do tend to last that long. (Unless they're being run by Bob Iger and his gang of woke wealth-destroyers, I mean.)

Disney's corrupt management is using its cartoon characters to propagandize its shareholders to vote them back into power.

Bob Iger is running a real Mickey Mouse operation and not in a good way.

In related news of healthy industries consigning themselves to bankruptcy to appease the mentally-ill: video game developers got together for a mass scream.

Here's some Is It Something? stuff to round out this post.

A new Fall Guy trailer was released. I'm hoping that Ryan Gosling brings a Nice Guys kind of performance.

Another trailer for Furiosa, a Mad Max movie without Mad Max. Kind of like Fury Road was.

Good Times is being rebooted. Yay.

Some people are screaming that this is racist. Eh, look, if you make a comedy, the characters are going to have flaws. Often undignified ones. They can't all be variations of a white liberal's idea of Soulful Saint exchanging inspirational quotes all the time.

On the other hand, it also looks stupid.

And how much komprommat does unfunny Cancel Culture cow Wanda Sykes have on everyone in the industry? Why is that unfunny F-list no-talent owed a job on every project?

I don't get Warner Bros' handling of the DC properties. They almost all fail or disappoint (the Batman movie made money, but not nearly as much as they'd hoped), but they just keep spamming out movies and TV shows like they're Marvel or Sony.

I though Colin Farrell was okay as Penguin, but seriously, who was asking for a Penguin TV show?

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posted by Disinformation Expert Ace at 04:17 PM

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