State Treasurer Gives Californians Perfect Holiday Gift: Announces State Moratorium on All Tobacco Investments
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