there is amount for calpers for retiree health and unfunded liability and the pension. i will talk about that in a moment but they come to 1.1 million and finally some other small items that were there, the $700,000 related to transbay, some of the asset management costs and grant match that is carried forward on the shipyard. so the largest thing on this rops -- why it's a large total amount comes from the other funds and that includes almost $300 million that passed through our agency so it's not things that we're spending here. we're hoping to conclude the sales -- this was mentioned lasted week that these are sales that -- one of them already occurred but we need the authority on the rops. we didn't include it on this one and block nine and the other ones we hope that completed in the next rops period and provide that to the authority to complete the transit center. there are impact fees used for affordable housing for blocks one, seven and eight in transbay and finally an extraordinary item related to the sale of jessie square garage that we hope will close in this

in sacramento we made our case for deinvestment we've been speaking with cal conspiracies and calpers members we're happy they're doing the kind of engagement but equipped that deinvestment is the way to go in climate change and it's urgency month is of people in our dmn are a beneficiary of that pension we have to depend on right investments and we know we can't think about just today but long term investment so everyday we see noting evidence that the fossil fuel investments not only the cool and another down turns but fossil fuels are going to be losing value someone mentioned the and i date of birth national bank that thor and wind are becoming more worthy of investment than fossil fuels thereby summon the financial pages we see the changes in the financial picture we know that financially we have to look forward and not backward just to back up everything mile colleagues have said about the moral reasons for divesting that are just as strong in the financial arena we have to change in a fossil fuel to a returnable incur thank you for going forward with our level 2 engagement that

it it will require an additional staff person or i think the gentleman who came before us i think calpers said it takes a quarter of his time what is the timeline for one of our staff people. >> time wise the 4r5789 i was here and some of the staff were here when we undertook the same engagement for sudan the letter writing we sent letters and followed up and determined and recorded back to the board with reopens that will entail staff time i don't believe that will need a full additional employee we also have positions in the budget we could leverage as far as compliance that are unfilled at this time we could make part of the responsibility to be monitoring the activities i will also stress it is not just staff for example, i nc r doesn't - they require board level involvement and participation in the committees they undertake a so we're have sufficient staff to do this i want to remind you that some of you might be called upon or volunteer to participate in the positions by this group we believe again if it is the boards pleasure we have sufficient staff to support all of the levels of

. >> calpers. >> not the mp o but one of the vendors let's see we cover the state of illinois and north carolina the state of georgia and mexican-american and hawaii metro life and involving and on the; right? so sacramento municipal utilizes so we have here in california and other public sector bodies we have the most established track record of success and we've got a long references list if you want to visit and understand. >> just like the counties of california and there are other county in california. >> the county of sacramento. >> uh-huh. >> let me see here so what about the hearing aid coverage how will that work. >> it is a group participating group benefit they will have 3 levels of hearing aid one in the area and one behind the area and one that hangs on a hook i'm not wearing mine i've got behind the area it is the most predictability hearing aids are expensive i'm sure you're aware of so the example i know best is that i'm able to get a hidden area state of the art 12 band blue tooth to any cell phone for $629 hearing aid if i bought on the open market would cost double th

want to clear up a few things that may not be perfectly clear proxy access is on the process for calpers to be able to nominate board members to a company if you have held 3 percent of shares for i think it is 3 to 5 years in order to put a stakeholder resolution you only need to own $2,000 worth of shares this is the fcc will and important to understand the difference so there are a couple of recently examples of stakeholder resolutions put forward in this area awe june capital and as you've proposed a resolution to exxon mobil they return some of the profits to find the stakeholders unitarian association and the presbyterian church usa have proposed a stakeholder measure to chronicle phillips they tie their contemplation to the value of their proven reserves both of the proposals have been rejected baselines the fcc rulings that the company can at their own discretion refuse to accept a proxy that there are many reasons why a company

selection process, and two people if outside that have hedge fund experience say we pull someone out of calpers and cal conspiracies i don't need to know their names that will draw an additional level of expertise we don't have now. >> i'll say the outside san francisco agency i'm fine to look for someone they need to have the selection but the selection and the evaluation of hedge fund products so i mean we could reach out no guarantee there's another city employee that has that experience or

selection process, and two people if outside that have hedge fund experience say we pull someone out of calpers and cal conspiracies i don't need to know their names that will draw an additional level of expertise we don't have now. >> i'll say the outside san francisco agency i'm fine to look for someone they need to have the selection but the selection and the evaluation of hedge fund products so i mean we could reach out no guarantee there's another city employee that has that experience or expertise. >> when i say city employee i'll broadened it and say maybe another county person like an example not san francisco but go to san mateo or la or controllers or treasurers i'm looking for someone that has basically know how the ratings go rather than someone of a less caliber person. >> you're saying another public employee if you can't find a san francisco pre. >> so i'm not. >> i think - i have someone that someone was in mind as possible and please don't share their name i'm not going to my thoughts when i compiled so we can have a conversation about this was and this presumes we hire you kno

if i'm at calpers and i'm a retired teacher and they invest -- we have the same dynamic.estors getting in early. you know alibaba's lockup just came off yesterday. are you hearing that people are going to get out? what's the -- >> so we're not an investor at alibaba. everything i've heard is purely anecdote ta l anecdotal. if you look at this, i think people will be exiting if you look at the early investors. i wouldn't be surprised to see people do it. most of the venture firms, when something gets public you ought to have a really good reason to hold it or you ought to forget it. they're not paying us to be -- >> and not only that you lock up your return. >> that's exactly right. i wouldn't be surprised to see people take out money. >> don't forget you get your carried interest which is a tax advantage when you sell. not when it's marked up. >> exactly. >> let me ask you about another investment. lyft which competes with uber. sort of two thoughts in the world on this. one is it's a winner take all business that only one business wins because of the social networking ef

michal pers sy calpers are seized there's a smell of gas. i'm worried about my safety.ple struggling with making ends meet. one car repair can upset the entire applecart. i just kept thinking why isn't somebody doing something about this? then one day it occurred to me dang i think that somebody might be me. i did not grow up work ong cars so i ended up getting a degree in auto technology. >> i smell it. >> does it get worse when you turn on the heat? how we're different than a regular garage is that people have to meet certain income requirements. >> i was quoted close to $1,400. >> we charge the customer $15 an hour for labor. market rate is about $100 an hour. we don't do any mark-up on the parts. so we are a lot less. you're looking at about 300 bucks. >> three? okay. i'd even give you guys more, you know? >> a car that works allows them to meet the basic needs of their lives with dignity. thanks for your patience. >> a hug. it's just a lot of weight off my shoulders. >> thanks. take care. it's about moving people forward and moving their lives forward. >> i am back