but is the decision consistent with calpers philosophy? to find out the most recent investment report from fiscal year 2011 and uncovered some pieces to the portfolio that don't seem to fit, like this u.s. stock investment, activision blizzard inc. publishes the game you are watching right now "call of duty: black ops 2"" regarded as one of the most violent gun toting games on the market to the extent these kinds of video games contribute to violence, how can california support the video game publisher with its money but not the gun manufacturer, the position seems inconsistent? scroll up the investment report and look under sovereign bond and there you'll find kingdom of bahrain. if you recall, bahrain experienced protests and vicious government crackdowns throughout the arab spring. now the country is a u.s. ally and it houses our fifth naval fleet but its government is accused of gunning down innocent pr protesters, torturing those in police custody and arresting thousands to preserve power. so why aren't the country's graphious killing

calpers, maybe. >> what do you do when you have that much cash? i thought that was gutsy of david to do that. >> his whole thing is, let's help investors. >> but is it his role to sue them to unleash that pitch? >> he obviously thinks it is. >> that's right. and sometimes he's right aeb sometimes he's wrong. >> well, if they don't unleash it themselves, maybe they need a helping hand. a dividend hike or various way dose give cash back. we also want to bring you in on topic of green mountain coffee roasters. david einhorn is keeping a short on green mountain. he said that again on cnbc this morning. >> he said there is potential channel stuffing there. yesterday, after the call, this is supposed to be a blow out quarter. that's is what is so surprising here. when you see how the company may its numbers, a -- >> that's what he said. a very poor quality -- >> did he? >> yes. >> i didn't hear it. that's the way he made the numbers. but the other thing to pay attention to here is what the new ceo said on the earnings call. very bottom of the conference

heather holmes is now live in san francisco and tells us the move by calpers is following the gun massacre in sandy hook. >> reporter: millions will soon see changes in their pension plans after today's vote to sell all of the funds gun shares. a financial response to the december shooting at sandy hook elementary in newtown connecticut with california dropping investments in gun makers. >> there's some things that are just wrong. we shouldn't be investing in these things. >> reporter: state treasurer and calpers treasurer bill lockleare admitted that selling the $9 million worth of stock is largely similar bomb -- symbolic but hopes the move will change laws. >> at times the change doesn't happen immediately, it happens within time. >> i believe that we socially should not be involved in gun manufacturing. >> reporter: last week supervisors voted unanimously to rid their retirement fund of gun makers. they agreed to sell $500,000 of gun funds. >> there's lots of good investments around america we can find plenty of good investments. it's a good move that people across america join us. >>

. >>> a calpers committee approve ed to sell stocks in smith and wesson and ruger.the action is largely symbolic following the december massacre at an elementary school in connecticut and will not have any effect on calpers $254 million port foal yo. >>> orange county investigators have identified a young man who wept on a shooting rampage. 20-year-old ali sayed killed three people and wounded three others before killing himself. he lived at the resident where the first victim was killed. the sheriff deputies responded to a 911 call and found a woman shot multiple times. two more people were shot within the next hour. saed then shot himself at an intersection. he may have used several weapons. >> in addition a shotgun was recovered. when the suspect apparently shot himself. there may be other weapons involved. it's still an ongoing active investigation. >> sayed reportedly also opened fire at vehicles on a freeway but no one was hurt. >> baseball and beer, the san francisco giants have big plans and they don't all involve winning the world series. >> and here's a li

heather holmes is now live in san francisco and tells us the move by calpers is following the gun massacre in sandy hook. >> reporter: millions will soon see changes in their pension plans after today's vote to sell all of the funds gun shares. a financial response to the december shooting at sandy hook elementary in newtown connecticut with california dropping investments in gun makers. >> there's some things that are just wrong. we shouldn't be investing in these things. >> reporter: state treasurer and calpers treasurer bill lockleare admitted that selling the $9 million worth of stock is largely similar bomb -- symbolic but hopes the move will change laws. >> at times the change doesn't happen immediately, it happens within time. >> i believe that we socially should not be involved in gun manufacturing. >> reporter: last week supervisors voted unanimously to rid their retirement fund of gun makers. they agreed to sell $500,000 of gun funds. >> there's lots of good investments around america we can find plenty of good investments. it's a good move that people across america join us. >>

calpers 255 billion under management. apple is peanuts to calpers. back to you, ashley. shapiro thanks so much. take a look at the intraday chart as the shareholders meeting is going on. the stock is down more than five bucks. down 1.25%. it crossed 700 bucks back in september. it has been quite a precipitous fall since then then. tracy: yeah. military schools, airport security, border patrol agents those are some things that could be impacted should sequestration cuts go into effect. one more day for lawmakers to figure out a solution, five bucks said, that is not happening. okay. will they be able to stop the $85 billion in spending cuts? rich edson in washington. that is a rhetorical question, right? >> yeah. at least not by friday, no. you know, tomorrow the senate likely votes on democratic and republican bills to replace these automatic spending cuts. neither is likely to pass. on friday congressional leaders, the top democrats and republicans in the house and senate are scheduled to meet with president obama at the white house. the administration says the presiden

it was interesting to see calpers and others rally behind management in its take on the einhorn versusle battle over handling of preferred shares. apple saying they want shareholders to be able to vote on any issuance of preferred shares. einhorn didn't like the way that was bundled into proposal number two which ended up not coming up for a vote because the court said it couldn't come up for a vote. dissident voices coming in support of apple management here. einhorn was not here. going down some of the votes, entire board looking to be re-elected based on preliminary vote count. human rights proposal, someone proposing the board have a special human rights committee. that was voted down. which apple wanted. there was a proposal that executives be rider to hold a third of their stock until retirement age. that was also voted down. shareholders questions ran the range. some even asked why there are no bathrooms on the third street store in southern california. an lot of pressure on them today. >> thank you very much, j jon fortt. hi, seema. >> hi, sue. we are up on the day following th

calpers normally a thorn in company's side, apple's side, spoke in apple's position in its battle withver preferred stock and how that would be issued in the future. the entire board is re-elected. numbers are still preliminary. items on human rights, board having to have a special committee for that and requiring apple top executives to hold on to a third of their stock until retirement age got voted down, which is what apple wanted. the cook says the best way for the stock price is to innovate. no special news out of here. back to you. >> jon fortt, thank you very much. >>> what do investors need to hear from tim cook, if not to restore confidence but at least the stock price. let's bring in collin gillis and morningstar, is there anything tim cook can do to get the price back up? >> absolutely, brian. number one thing that would get this stock moving again is to introduce new products that will generate new revenue strings for the company. >> like what? what kind of new products would you like, collin? >> you want to focus on high ticket items that will appeal to the apple audience.

apple is defending noting other investors calpers.g would eliminate other beneficial measures. would establish majority voting for investors on the board. leading into the hearing things have gotten a little snippy. apple said it would incur millions of dollars in printing and other costs if the proposal was delayed. einhorn fired back with his own calculation. he said those costs would amount to .3 of a penny per outstanding share of apple stock and nobody should worry about it. >> we'll see about that. thanks very much, kate. >>> apple's pain has been google's gain. google stock hitting $800 a share for the first time. remain confident to increase profits. milestone comes five years after google first hit $700. stock has risen 35% since larry page replaced schmidt in 2011. what a perfect day to have ken auletta, considering one of the leading experts on google and authored the book "googled, the end of the world as we know it." today in the business page, ken wrote the article, can it disrupt the tv business. he's here to talk beaut

this is the nation's biggest public pension fund -- calpers. 243 billion in assets. 247 million sharese which is twice the amount that einhorn holds. they have already said that they are going to vote in favor of this proposal, proxy item number two, which goes contrary to what david einhorn wants. he may not get that support after all. apple coming back, as you mention a rare thing. liz: but it is so obvious shareholders with a big voice like einhorn are getting annoyed by looking at that pile of cash and saying give me some of that. >> he equated $145 per share sitting there that could be accessed by shareholders that apple is preventing. the stock price went down 30% in the last six months. shareholders are looking around. they're saying give it back, give it back. liz: larry haverty of gamco on fox business predicted this on monday. i predict a shareholder lawsuit. boom, it happened. ashley: he's right. liz: thank you very much, shibani joshi. ashley: well athenahealth selling off in after-hours trading after reporting a miss on revenue. coming up next exclusively on fox business t

we saw it with calpers. we're seeing it with bill de blasio. cerberus got very worried. it does change it. i think it changes in precisely the way you're illustrating is that it puts the emphasis and focus back on the gun manufacturers themselves. and the dirty secret of the gun market right now is there are two lines that go in opposite directions. the percentage of households that own guns is going down, and the number of guns in the country is going up. a smaller group of people are buying more and more guns, which means the manufacturers themselves have the same incentives as wayne lapierre, which is to indicator to the most extreme gun obsessive acquirers, because that is where their market, and those interest people whose views are the most outside the mainstream. and that makes them politically toxic if they step forward. >> and that makes them not a great thing to have hanging around your neck if you are running in a general election. >> that's exactly right. because it's increasingly kind of a hobby, hobbyist fetishistic audience. it's not your casual person who

calpers talking about $5 million. the california public employees penguin. they're trying to pull that out. you're also seeing efforts coming from the mayors. philadelphia, for example. they passed this sandy hook principals legislation which basically says we want you to adhere to better background checks, more expansive background checks and not selling magazines in certain capacities. we want to make sure that you are supporting those. if you don't we're not going to fund you. >> ifill: in a city like chicago, we saw rahm emmanuel say he's going to tell the banks to stop doing things. what leverage does he have? >> very little. one mayor has very little. basically he's saying you can't lend in this case to be able to give money to these gun manufacturers. but at the same time if more and more mayors start to do that, if they're adopting these things we saw it happen at the los angeles city council level. you're seeing it expand rapidly. very similar to what happened with south africa as well. >> ifill: jesse jackson's congressional seat in chicago has bem

calpers is backing out. and caltrs is backing out as well.ave to pick your spots and be patient. you can do it through stocks with commodities exposure. other big players like schroder's likes the economic supercycle. and of course others like physical gold. as a hedge against inflation, a guarantee of purchasing power. these guys almost see it more as a currency than a commodity. >> funny thing is credit suisse was out with a note lately as well saying the gold era is coming to an end. you guys are trading these stocks -- >> i think this is really important for investors. let's distinguish between trading and investing. what kate's story is about are companies that said, this is a new investment for us, we're going to invest in higher commodity prices. for traders, there's always one commodity working and one not working and opportunities. for investors, the question is, can you just buy the crv index and count on this rise across the board? there are 19 different commodities in there. the answer is no. that's the difference. it's going to b

senior portfolio manager calpers joins us. >>> why should you care we are about to center the year ofnake? some blananks are claiming this bad news for stocks. >>> are utility companies fully prepared to restore power this weekend? we will talk to pnge coming up. mandy, see you then. >> and here on the mother ship as well. we need sunshine today, don't we? how about fleet corps? fourth quarter earnings jumping 59%. as fuel cards company report tag double-digit revenue gains in north america and abroad. the company offered upbeat guidance for the full year. if you want it, pretty much gave you the full gamut there. as a result, the stock up 11%. >> can't have sunshine without rain, james taylor saying that. here is the disaster. nuance communication. one penny belowest mates and outlook that is disappointing the street. herb greenburg, my friend, you've been following this name for a while. it is a disaster today. what are you hearing? what do you think? >> i've been following this for years. this is a classic growth by acquisition company. they don't necessarily do well, some will tel

plan your getaway at discoverlosangeles.com >>> the san francisco chronicle reports calpers is planningd affect 113,000 policyholders. they will get more information on the options and expected to make changes by june 30th. >>> a lot of bay area carpool lanes will soon be open to all drivers if they are willing to pay a price. transit frills say -- transit officials say by the end of 2013, solo will be able to pay a fee to use 580, 680 and 880 driving solo. this will be the first phase in the plan to create a network of carpool lanes. sal? >> there's some improvements -- i'm sorry. my typing skills are not very good. some improvements. northbound 880 and southbound 880 -- it's a little bit slow. but it's better than it was. i will show you the improvement i'm talking about. when we go to the toll plaza, remember it was backed up for about a 30-minute delay. it's been cut in half, a 10 to 15-minute delay at at toll plaza. there are no major problems. those of us -- those of you who have the luxury of waiting around a little bit later really getting the benefit of the commute, also lookin

. >> if i get money from calpers, big pension program, and i invest it, what i'm doing is providing ay, i'm a lawyer. if i provide a service, i earn income, even if it's a contingen contingency, what do i pay? so i think there's a lot of things we can do. but we ought not to pretend you can do it for free. i was for the clinton rates. i'm for the clinton rates today. now, i wouldn't phase in the clinton rates immediately because the economy's still trying to get back. >> right. >> so i would perhaps go at least another year until you get the full clinton rates. >> give us two cuts. two cuts you'd make. >> spending cuts? >> two spending cuts. >> i think on entitlements, i think we need to look at cost of living adjustments. i think we need to look at -- very frankly, let me give you a specific cut that i think we ought to go back to, in effect. people are talking about, well, people can't work past a certain age. let's assume that. but previous to the '90s, when you continue to work and you were over 65 and you earned income, you had an offset. now, if we reinstated that offset, i'm 73