Corporations, in the name of profits have recently stated that they will cut minimum wage worker hours below the needed number of hours to qualify for health insurance. This means more Californians will postpone or forgo preventative medical procedures such as vaccinations which are needed to preserve the public health. Two particular instances of in vestments held by CalPERS are Papa John's and Darden Restaurants. The employees of these firms deal directly with food handling to the public. Many, if not all of these employees who directly handle food served to the public have no health insurance. Cutting their hours means they are less likely to present themselves for vaccinations, even for the common flu than the general public that they serve. And yer, CalPERS profits from the potential stress upon the state's emergency and Medical system to in effect, subsidize the corporate teat. To the amount of:
Company shares book value market value
PAPA JOHN S INTL INC 65,585 1,053,296 2,181,357
DARDEN RESTAURANTS INC 345,082 10,416,620 17,171,280
as per your own 2011 annual investment report.
What is the State of California's ROI on investing in corporations that burden our own health care system? Does anyone count food poisoning cases spread by employees who have no sick days and no recourse but their own purse for antibiotics?
It is in the best interest of the State of California that health care is provided to service workers, farm workers and anyone involved in the food chain, and any profits generated by corporate bottom-liners is offset by the unseen state subsidy of California.