Other articles by Howard Fischer:

Public can add pro, con views to ballot items Voters: Here are issues you'll be asked to decideAt least 11 measures likely to be on ballot Low cost to state aim of points-free photo radar tickets Group seeks easing of Arizona law targeting employers of illegal immigrants Appeals court: State can seize wire transfers Backers of tax boost for roads squabble over funds, petitions School vouchers OK for now, but funds aren't there Initiative to scuttle affirmative action faces court challenge New homes could get new warranties

Mechanical
Pioneer Landscaping
Diesel Fleet Mechanic Trades/Construction
Pioneer Landscaping
Yard Person/Loader Operator Driver/Transportation
CPC Southwest Materials
Drivers Trades/Construction
Pioneer Landscaping
Yard Person/Loader Operator Trades/Construction
Wentz and Patrick Construction
Carpenters & Helpers Production and Manufacturing
Pioneer Landscaping
Crushing Crew Trades/Construction
Baker Brothers Plumbing
Dry Wallers

Arizona's retirement systems must get rid of any investments they have in companies doing certain kinds of business in Sudan — unless it costs too much.

Legislation signed Monday by Gov. Janet Napolitano requires divestment within 18 months of any interests in companies involved in petroleum, minerals extraction or power production in the country. Also forbidden would be investments in firms that provide military equipment unless it cannot be used for offensive purposes.

The aim is to withdraw any sort of funding for the Sudanese government for its actions against the residents of the Darfur region.

But HB 2705 has a financial fail-safe provision: The managers of the funds do not have to comply if selling off the interests would harm the account by more than one-quarter of one percent.

Computing what that means in actual dollars is not simple.

Paul Matson, director of the Arizona State Retirement System, the largest of the four state programs, said the $28 billion is divided up among 35 different accounts, only eight of which have international holdings.

The largest of these, he said, has about $1.6 billion, which would set the cutoff for the maximum loss at $4 million; the smallest account of $150 million could sustain losses of $375,000.

Rep. Kyrsten Sinema, D-Phoenix, sponsor of the measure, said that language is necessary to comply with a state constitutional provision that requires retirement funds be invested "solely in the interest of the members and beneficiaries" of each investment. That technically prohibits fund managers from using political considerations in deciding what to buy or sell.

But Sinema said the 0.25 percent provision was reviewed by attorneys and is believed to pass constitutional muster.

She also said the language is similar to what has been adopted by 23 other states. And Sinema said the cutoff has not become a factor anywhere else, as fund managers have found the loss is minimal or, in some cases, selling the stock and replacing it with something else actually makes money.

Matson also pointed out that the new law gives his fund managers the option of selling the stock even if the loss might be greater. The law does not affect every company that does business in Sudan.

Aside from being limited to the four specific types of business, a company would also have to be judged to be "complicit in the Darfur genocide."

And it also exempts companies that do 75 percent of their business in the Darfur region, language which Sinema said encourages firms that help people living there.