a top official from calpers is here to talk with us.he european close is coming up in about 20 minutes. no student's ever photographed mean ms. colegrove. but your dell 2-in-1 laptop gives you the spunk for an unsanctioned selfie. that's that new gear feeling. all laptops on sale, save $230 on this dell 2-in-1. office depot officemax. gear up for school. gear up for great. >>> u.s. equities have been rebounding after losing some steam following crude inventories. the tech sector is leading the way, up nearly 1%. this morning, the dow is now up 132 points. joining us now, wedgwood partners chief investment officer david roth. good to see you. >> good to be back. >> and it's nice to have a day of relative stability in the markets. seems we get this when we're able to see china out of the headlines. how sustainable is that? >> i don't think it's going to be too sustainable. listen, we're not in 2012 or 2013 or 2014 anymore. we're finally seeing downside volatility. and i think we'll see it for the rest of the year. but finally we're gettin

. >>: with charter we can provide services to all lot of calpers- calpers-campers. >> vicki: she is white with wide green stripes on the sides.green lettering.and pictured is two bears going on a walk. >> vicki: at saturday night's sacramento their own. anthony sadler was one of three americans who helped take down a gunman on board a train in paris last month. c-n-n's doug johnson has more on how the university thanked him. >> vicki: getting almost as much of the applause as the entire hornets football team. sac state senior anthony sadler graciously walked on the end-zone. >>: "we would like to present anthony sadler with a resolution commending his bravery and heroic acts." >>: "the fact that sac state wants to honor me like that i just find it pretty amazing, pretty humbling experience, everybody has been great." >> reporter: last month, sadler followed his friends spencer stone and alek skarlatos as they confronted a gunman on a paris bound train. thwarting what french authorities believe was a terrorist attack. >>: "my teachers are like you probably had the best what did you do over

who controls calpers? the union. understand what the fight is about. and louis' brands. you wake up saying i'm paying these guys advising fees, what are they doing? >> it's described on one side as political in the argument you made, and on the other side -- >> political? >> political in that whether it's unions or calpers or iss trying to burnish something, and on the other hand, it's ego. the argument -- the flip side of the argument is it's why does -- why does one person need to be the chairman and the ceo? how much of a disservice do you do to the business if they are separated? >> let's go -- >> playing devil's advocate. >> and that's fair. go in the makeup of a void. you don't worry about a league director or chairman if there's at least one perp in the room who raises his hand and says, i don't like this or i don't understand it or this has got to stop. now, he may not get renominated, but that's okay. he did his job while there. here's part of your problem in america today. to be, quote, politically correct in structures of boards, we're takin

a few other properties as big. 5,000 square feet almost and it cities on about an acre of land on calper street near downtown and as you were talking earlier you want to see the goods inside before you make that decision. >> like to have one of the video tours of inside the house. >> i was going to say it better come with all upgrades. >> you think we'll get a video tour. >> probably not. >> take it away, jeff. >> all right. we do have cooler weather coming right through your windows tonight and also through the next couple of days. we're tracking this much-needed cooldown after record-setting heat today and that's in just a few minute. pope francis arrives in the u-s tomoorow millions of ythe athloic fathful have been >>> pope francis arrives in the u.s. tomorrow and millions of the catholic's faithful have been waiting for this morning but as excitement grows so does controversy. pope francis will honor a father with sainthood during the trip which has many native americans demonstrating saying serra ran an' prossive mission in the 18th century. protesters say many of those natives wer

that first one is calpers in sacramento. they were able to eliminate sutter's from the network and dramatically lowering their fees because there were other hospitals that they could refer patients to. when we created our organizations we had care physicians and -- there was a desire to actually change the premium and try and incentivize our members to go to the most cost-effective quality hospital. and blue shield was precluded from allowing us to have two separate premiums. will your lawsuit allow us to have a narrow premium? >> absolutely. that's what the lawsuit has promised. >> i was not preface on this. >> go ahead. the truth is director is that i was listening when you were testifying to the board of supervisors and you have been talking about this for some time now. not in terms of looking for some legal dispute but seeking solutions to these very real problems. what you just outlined. >> there is one more. >> go ahead. >> we've spent substantial money and time in purchasing data base and implementing data base. to d

in the past two weeks, the california state legislature has to vested calpers and counselors, two of against -- two of the 20 biggest pension funds on earth and yesterday comes the news out of the blue system, the iconic campuses at berkeley and ucla and santa barbara and davis beginning to divest at least from coal and tar sands oil. their portfolio is not $10 million, it is $98 billion. there is a kind of just dramatic momentum behind this people's uprising on climate change. we finally have gotten it through our heads unless we push hard, our leaders are not going to do what needs doing, so now we're pushing. juan: in terms of the impact on the fossil fuel industry -- they inevitably have a fight back plan? >> the fossil fuel industry is fighting, in many cases, winning. they are chore nearly powerful. they were able to gut, legislation and the california assembly yesterday. the oil industry kept jerry brown from being able to pass some of his signature legislation. and the same around the world. but they're beginning -- we are beginning to fight them to a draw in place after plac

>> we have heard in a letter overnight calpers and calstrs coming out in this proposal, they would likechanged to when the labor group would like them separated. that more so alines with those groups' purposes. i wonder if you think this is such a controversial idea we'll see vanguard, blackrock, fi tellty come out against this. when you say shareholders are vocal, are they the top institutional shareholders or are these pension funds and labor groups that traditionally have had ideologies that support this? >> you're right. some shareholders will vote against the shareholders for the vote on september 22nd on philosophical grounds. having said that, we think there will be other shareholders who will vote no september 22nd. in fact, for the annual meeting vote last may against the governance committee, you did see some crossover, some investors who wouldn't normally vote no actually voted no. so, i think it will be a close vote september 22nd but it has the potential to be an epic vote. a watershed vote, september 22nd when the industry finally takes over the governance as opposed to ha

. >> this week calpers saying as a risk mitigation strategy pulling another $20 billion of its moneystocks. >> guy adami, thank you, sir. have a great weekend. >>> there is much more coming up at 5:00. the "fast money" crew will talk to a top analyst. he thinks tim cook is about to make a change in apple that steve jobs said he would never do. >> commodities round triggering job cuts in energy companies. >> the king of saudi arabia paying a visit stateside today. details of that meeting later. while every business is unique, everyone is looking for ways to cut expenses. and that's where pg&e's online business energy checkup tool can really help. you can use it to track your actual energy use. find rebates that make equipment upgrades more affordable. even develop a customized energy plan for your company. think of it as a way to take more control over your operating costs. and yet another energy saving opportunity from pg&e. find new ways to save energy and money with pg&e's business energy check-up. >>> welcome back to mining sectors. morgan brennan joins with us how much more pain

calpers pulled out of them. there is another public pension fund they pulled out of them.re not doing it anymore. their performance of hedge fund managers subpar. that is the story. if you're joe blow investing in s&p 500 index you dead better than hedge fund managers. neil: they get nervous, right? just like they get nervous now they're missing something because they got out, right? what is your advice for people? >> cure to that is not hiring bunch of super expensive managers in nye view. the cure for that you're properly allocated. you will lose money sometimes. that is the way investing world works. you can't escape from risk. neil: i have proposal, gerri, with the world watching, i think you're on board. all of those people nervous in the market, give us your money. we'll get back to you in what, 20, 30 years. >> we'll be back. neil: we'll be phoning you from bermuda. thank you very much. another guy with calm, rational approach to this is mark madsen. every time we see a crash or jolt look at headlines, end of the world. if you have a lead suit put it on. better not