joining us, calpers ceo marcie frost. >> good morning. >> a decent explanation?raw their position. >> they d. but exxon, read the statement in a little bit, but part of their perspective is shareholders is basically -- gone wild. there is almost too much democracy, too many activists proposing too many different planses, some of which she have a well stake in and some believe they are political? >> yeah. let me start with saying that we have engaged with exxon. had a number of discussions with exxon on this topic. my investors relations team talking to their relation sheep. multiple requests to drop the lawsuit. i'm not certain the problem we're trying to solve or exxon is trying to solve didn't use the system in place through the s.e.c. if they want add no-action advisory could have gone that route through the s.e.c. and decided to take it directly could to court. even after this proposal was taken bay-of-back by the two activists partially trying to create case law for the future? >> i believe it's about redefining ordinary business limiting the number of propo

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