calpers has long dated liabilities.ill be crippled -- >> what do you think about the balance some companies would say sort of nuisance proxy contests. >> uh-huh. >> the balance trying to manage the business and providing some form of shareholder democracy? >> uh-huh. well, i think having the definition of a nuisance proposal, if you think about exxon. i believe there are 12 proposals on this year's annual meeting. 12 proposals on a company that made $36 billion in profits does not seem problematic to me. >> let me read you what exxon says, in fairness for everybody here, what exxon says is a statement to cnbc about this whole issue. we've engaged with calpers. you said you've engaged with them. on this matter. do not understand how they can make such a poor fiduciary position to vote against a board overseeing creation industry-leading shareholder value. far from having a chilling effect on shareholder proposals our efforts are intended to get clarity on rules to foster an environment for open and meaningful shareholder

it is pulling plans to release the ad on television >>> calpers, the largest u.s. fund, is considering a vote against darren woods re-election to the company board of directors in comments to the times, the pension plan is deeply concerned about the exxon twin lawsuits challenging shareholder discontent over the greenhouse gas emissions and exxon has gone beyond any other company in terms of suing shareholders. it adds, there doesn't seeming to be anythingholder ability to speak their minds. >>> and openai is releasing the a.i. search product on monday in a direct challenge to google search according to bloomberg, the date is subject to change, but appears to coincide with the conference which kicks off on tuesday, frank >> i don't think that is a coincidence. that is intentional. >> i don't think so. >> silvana, that you have. >>> we have more to come here on "worldwide exchange," including the one word that investors have to know today. first, tracking a china triple play from new tariffs and block buster ev ipo and bet from goldman sachs. >>> boeing in hot water

calpers says this threatens shareholder action.bc that the activists are attempting to silence tvoices of 90% of shareholders. woods said they are taking this because they want legal rulings and precedent to set the rules of the road. this is the new thing the s.e.c. changed a year and a half ago. it would be much easier to bring shareholder proposals. it is a headache for management who say the majority of shareholders are not interested in and it sets a precedent. andrew. >>> meantime, becky, i'm live in paris this morning. the arc behind us. we will see the olympic torch on bastille day on july 14th. it will run along the famous streets with champs elysÉes behind me and it will move through in a spectacular summer olympics. the competitors will be in 35 sites across france which are being transformed as we speak. you can see the working done. the french saying they raised 96% funding for the games from the private sector. that is interesting. the olympic center is within walking distance to the volleyball. it will host the frenc

first up, calpers, largest u.s. exxon mobil's ceo darren woods' re-election to the company's board of directors in comments to the "financial times," the pension plan says its deeply concerned about the twin lawsuits challenging shareholder discontent against its greenhouse gas emissions and exxon has gone well beyond any other company in terms of suing shareholders you may remember, there are shareholders back in january wanted to come up with a proxy addition they wanted a vote to take a look at what would happen to exon mobil to try and change its emissions from the products that it sells in response, exxon actually filed a lawsuit against those two shareholder groups one was arjuma capital, the other, follow this saying defendants are asking exxon mobile to change thi everyday business eliminating certain of its products it sells. it's said they don't consider them investors the most part doing this sew beability vists to try to very calculatedly, he said, become shareholders simply with the goal of trying to ag

calpers would not be supportive of reinstating it. not as of now.he is planning to take a meeting with the tesla team. we will see if they persuade her otherwise. >> big news on elon musk, i guess, as a possible trump adviser. that has to do with nelson peltz as well. >> and pearlmutter. >> and peltz sis involved. it's going to be a long few months. i see things. >> that would be higher. >> it's pretty good. people don't want to talk about it at all. >>> salesforce shares plunging after the report yesterday. a.i. eventually. not yet. steve kovach is joining us with more. the money is going out, but not necessarily coming in yet. it wasn't horrible. barely missed on the quarter revenue and for the year. that's enough with a fast grower to cause this big selloff. >> the a.i. story as well. we're seeing shares tanking and dragging the dow down following the miss on revenue expectations and guidance for the second quarter. it was salesforce's first miss since 2006. $9.13 billion. the weak second quarter guidance where executives blaming a variety of vfa

. >> calpers? >> i don't know if they're doing it yet. sovereign wealth funds definitely.ng to get into mining, exposure to this asset. >> play us out, but quick, ethereum, this lawsuit effectively accuses fcc considering security and then sort of, bait and switching everybody. what do you think of that? and what do you think long term means? >> united states of america has an amazing court system and we've seen over and over again. s.e.c. and maultiple players go to court. simes s.e.c. wins, sometimes don't. i think jumps withink judges wi out. >> no answer. >> i don't think anybody knows. >>> when we come back, talking about the on-campus protests here in the united states. you're watching "squawk box" and this is cnbc. ameritrade is now part of schwab. bringing you an elevated experience, tailor-made for trader minds. go deeper with thinkorswim: our award-wining trading platforms. unlock support from the schwab trade desk, our team of passionate traders who live and breathe trading. and sharpen your skills with an immersive online education crafted just for traders. all