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More Pension Funds Line Up Against Eisner

Six more state pension funds lined up Thursday to oppose the reelection of chairman Michael Eisner to the Walt Disney Co. board. Funds in New York, New Jersey, Connecticut, Massachusetts and Virginia plus the California State Teachers Retirement System joined the California Public Employees Retirement System in withholding support for the embattled Eisner, according to Bloomberg.

All told, the seven funds hold 39 million Disney shares, or 1.9% of the companys stock. Former directors Roy Disney and Stanley Gold, who are urging shareholders to vote no on retaining the directors at next Wednesdays annual meeting in Philadelphia, are hoping for at least a 20% no vote.