James Burton This is Me

 Web References

1. 1. IREI - News Archives

   www.reitstreet.com/newsarc/feb - [Cached]

   Published on: 2/5/2001   Last Visited: 11/14/2003

   "It is vital that we have employees with the appropriate level of specialized skills and experience to manage our investments, particularly so in this highly volatile financial market," responds CEO James Burton. "The alternative to hiring employees with these skills is to contract with private money managers, who would all charge fees astronomically higher than the salaries the CalPERS board has set."
   
   "While we understand the Controller's Office's desire to clarify its statutory authority to process our portfolio managers' paychecks," Burton continued, "we firmly believe that CalPERS has the constitutional obligation to manage our investments in the most prudent manner.

2. 2. IREI - News Archives

   www.ire-net.com/newsarc/feb01/ - [Cached]

   Published on: 11/26/2000   Last Visited: 12/10/2002

   "It is vital that we have employees with the appropriate level of specialized skills and experience to manage our investments, particularly so in this highly volatile financial market," responds CEO James Burton. "The alternative to hiring employees with these skills is to contract with private money managers, who would all charge fees astronomically higher than the salaries the CalPERS board has set."
   
   "While we understand the Controller's Office's desire to clarify its statutory authority to process our portfolio managers' paychecks," Burton continued, "we firmly believe that CalPERS has the constitutional obligation to manage our investments in the most prudent manner. We are hopeful that the Controller's Office will receive the reassurance it needs to honor the constitutional plenary authority CalPERS was granted by the voters in 1992 to make appropriate investment decisions - which include hiring and setting necessary salary schedules for its investment staff." In the meantime, CalPERS will continue to pay its portfolio managers through an independent payroll system.
   
   The case arises out of the failure of the controller's office in November to process pay checks for 10 portfolio managers at the rate of pay established by the CalPERS Board. The board had raised the pay range of portfolio managers by 11 percent after a study revealed serious recruitment and retention problems within the investment office. When the Controller's Office refused to pay the 11 percent increase, CalPERS publicly announced its plans to issue checks through a separate system.

3. 3. IREI - News Archives

   www.irei.com/newsarc/feb01/020 - [Cached]

   Published on: 2/5/2001   Last Visited: 3/27/2005

   "It is vital that we have employees with the appropriate level of specialized skills and experience to manage our investments, particularly so in this highly volatile financial market," responds CEO James Burton. "The alternative to hiring employees with these skills is to contract with private money managers, who would all charge fees astronomically higher than the salaries the CalPERS board has set."
   
   "While we understand the Controller's Office's desire to clarify its statutory authority to process our portfolio managers' paychecks," Burton continued, "we firmly believe that CalPERS has the constitutional obligation to manage our investments in the most prudent manner.