CalPERS Calls on Safeway, Albertson's and Kroger to Settle with United Food and Commercial Workers.Business Editors SACRAMENTO, Calif.--(BUSINESS WIRE)--Dec. 17, 2003 The California Public Employees' Retirement System (CalPERS) today urged three supermarket operators to "fairly and expeditiously ex·pe·di·tious adj. Acting or done with speed and efficiency. See Synonyms at fast1. ex " resolve their negotiations with the United Food and Commercial Workers The United Food and Commercial Workers International Union is a labor union representing approximately 1.4 million workers in the United States and Canada in many industries, including agriculture, health care, meatpacking, poultry and food processing, manufacturing, textile and (UFCW UFCW United Food and Commercial Workers ) union. In letters to the Chairmen and CEO's of Safeway, Inc., Albertson's Inc. and Kroger Company, CalPERS Investment Committee Chair Rob Feckner called on the three companies to negotiate in good faith with the UFCW to provide a health benefit package that enhances the productivity of their employees as well as the long-term value for shareowners. "As a long-term investor Long-term investor A person who makes investments for a period of at least five years in order to finance his or her long-term goals. we believe that fair treatment of employees is a critical element in creating long-term value for shareowners. Fundamental to the fair treatment of employees is a reasonable health care plan that provides basic health care for your workers," said Feckner. CalPERS has a $77 million investment stake in Pleasanton, California-based Safeway, Inc., a $71 million investment in Cincinnati's Kroger Company, and a $31 million holding in Albertson's Inc, of Boise, Idaho “Boise” redirects here. For other uses, see Boise (disambiguation). Boise is the capital and most populous city of the U.S. state of Idaho. It is the county seat of Ada County and the principal city of the Boise metropolitan area. . About 70,000 Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, grocery clerks at Safeway, Albertson's and Kroger have been off the job for two months striking over a dispute about health-care coverage. The letters can be found in CalPERS Press Room at www.calpers.ca.gov. CalPERS is the nation's largest public pension fund with assets of more than $157 billion. The System provides retirement and health benefits to more than 1.4 million State, school and local public employees and their families. |
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