He founded the cogeneration company Cogen Technologies, which was sold in 1999 to Enron and CalPERS.
When the project ended in default, BlackRock clients lost their money, including the California Pension and Retirement System which lost about $500 million.
CalPERS, an agency that manages pensions for California public employees, invested heavily in Mountain House beginning in 2005, purchasing approximately 9,000 residential lots from Shea Homes.
, better known as J.J. Jelincic, is a member of the California Public Employees' Retirement System (CalPERS) Board and is the past president of the California State Employees Association (CSEA), a labor group representing 140,000 active and retired state employees.