SACRAMENTO, Calif., Dec. 23 /PRNewswire/ -- Medical Association applauds
today's announcement by California State Treasurer Phil Angelides that the
state will place an immediate moratorium on any state investments in tobacco
companies. Treasurer Angelides also announced that he has asked the California
State Teachers' Retirement System (CalSTRS) to consider divesting tobacco
investments from its $100 billion portfolio.
"While we recognize that the State of California does not currently hold
any tobacco investments, we hope the Treasurer's announcement sets a precedent
the state's large retirement systems like Cal STRS will follow," CMA Executive
Vice President Jack Lewin, MD, said. "The state's moratorium on tobacco
investments confirms just how much of a social outcast the tobacco industry
has become. And rightly so. The Treasurer's decision makes good sense both
medically and socially."
Dedicated to the health of all Californians, California Medical
Association ( http://www.cmanet.org ) represents more than 34,000 California
physicians from all regions, modes of practice and medical specialties.
SOURCE California Medical Association