Tuesday, January 22

PERA caves on Iran divestment

After initially taking a strong stand against Iran divestment, Gov. Bill Ritter and Colorado Public Employees Retirement Association (PERA) have reversed their stances. PERA has agreed to pull assets from Iran after pressure from Republican lawmaker Josh Penry of Grand Junction. Ritter applauded the move, according to a press release.

As reported a few weeks ago in the Chronicle, the governor, the state legislature and PERA all decided last year that genocide, as was the case with Sudan divestment, should be the standard for removing investments from foreign countries. None of the daily articles I've seen so far explain why PERA switched its position, but the agreement will keep Penry and other lawmakers from trying to mandate divestment through a bill, although the likelihood of its passage was unclear.

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