Isn’t that cute? The pension fund Einstein used, which still has a
monopoly on many faculty pensions, doesn’t want to hear any bad news
about Sinclair broadcasting.
TIAA-CREF now has a boilerplate “Sinclair letter”–I got two identical
copies, with two different signatures, in response to my efforts last
week to get them to divest. The letters “explain” that they can’t tell
me if they got rid of SBGI or not, and that none of their funds drop
stocks for “political” reasons.*
On their website, they’ve posted a different justification for holding
onto Sinclair despite customer protests: that they don’t care about
“short-term
fluctuations”
in share price. The bone-headed management and PR skills of Sinclair’s
ongoing management? TIAA-CREF doesn’t seemed to have noticed
those.
I’m guessing that somebody high in TIAA-CREF really likes Sinclair for
reasons not clear to me.
* I’d like to tell you what the boilerplate said but TIAA-CREF won’t
let me.
attachments, contains confidential information intended for a specific
individual and purpose, and is protected by law. If you are
not
the intended recipient, please contact sender immediately by reply
-mail and destroy all copies. You are hereby notified that
any
disclosure, copying, or distribution of this message, or the taking of
any action based on it, is strictly prohibited. TIAA-CREF”
My guess is that if you take time to contact them, you will soon have
your very own copy of the letter to read.