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Did CalPERS Get 'Nothing' Out of Paying $275,000 to Define Its 'Beliefs'?
RIABiz 
Jan. 14, 2014 "In an effort to create an instant, better culture to ensure sound decisions by the stewards of hundreds of billions of dollars in assets, [CalPERS] -- metaphorically behind by three touchdowns in the fourth quarter -- paid a consultant $275,000 to create its own 10 commandments to guide that new culture. But the decision to give a boatload of cash to Towers Watson & Co. to come up with 10 bedrock beliefs to save a bigger boatload of assets appears to itself have been done in a manner devoid of clear thinking[.]" |
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