Gov. Arnold Schwarzenegger said today he intends to sign a bill requiring the state’s pension funds to divest from companies that do business with the energy and defense sectors of Iran
Estimates vary on how much money the state funds have invested in companies that do business with Iran, but it could run as high as $24 billion. Divesting that much stock could cost more than $120 million in
taxes, commissions and other expenses.
That is really good news. Better late than never.
