CalPERS releases list of 'bad actor' companies

The influential California Public Employees' Retirement System chided five U.S. industry giants as "bad actors" on Wall Street this week, urging the companies to rein in executive compensation and revamp corporate board elections.

This year's targets: American International Group, AT&T Corp., Novell Inc., Delphi Corp. and Weyerhaeuser Co.

For years, the CalPERS list has been considered a wake up call to Wall Street companies over questionable business practices. The goal is to boost financial performance and market value.

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