Alabama, the pension fund significant investment in U.S. Airways
David G. Bronner has made some unusual investments in its three decades as head of the Retirement Systems of Alabama, the state of the largest public pension funds: golf courses, an office tower in Manhattan, and a small chain newspapers, to name a few. Many have paid a lot back several times the initial investment, so that the total amount of his custody to almost 25 billion dollars.
Bronner’s last great gamble does not work so well. In March 2003, it pumped 240 million $ U.S. Airways, an investment netted eight board seats for the pensions and titles of chairman for Bronner.
But something is missing: profits. At least a price of U.S. Airways reservation, its investments with a value of $ 104 million - a value of 57 percent to lose.
Some of its investments were submarine in the world, and his bet on U.S. Airways can still control. But Bronner’s foray into the world of glamour once airlines shows that the volatile sector …
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