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UC Workers File Suit
A suit filed in April alleges that UC is violating the California Public Records Act by refusing to disclose individual results of UC´s investments in venture-capital funds. The suit was filed by the Coalition for University Employees (CUE), the San Jose Mercury News, and Charles Schwartz. (Schwartz, a retired UC physics professor, has taken an active interest in UC´s budget for many years.)
In December 2002, CUE asked UC to disclose the internal rate of return of venture capital funds after the California Public Employees Retirement Funds made the decision to disclose this information. This request was refused by UC, although this sort of information is disclosed by other public pension funds such as those of the University of Texas and the University of Michigan.
Sources: Chronicle of Higher Education, 4/18/03 and press release posted at
http://ist-socrates.berkeley.edu/~schwrtz/
-wage@wage.org-