The California Public Employees’ Retirement System on Thursday took its annual potshot at companies it has identified as corporate underachievers.

The $230-billion government pension fund , the biggest and most influential in the nation , released a so-called Focus List of 11 companies in its portfolio that staff rated as having subpar earnings and undemocratic corporate governance policies.

The companies are “the poster children for bad performance and bad corporate governance,” said CalPERS President Rob Feckner in a conference call with reporters.

“Their long-term performance is at least 20% behind their peers, and they have resisted appeals to change corporate practices that make their boards unresponsive to share-owner interests.”

Among the companies on the 15th annual Focus List is Tribune Co., the Chicago-based owner of the Los Angeles Times that is in the midst of making a high-profile decision to sell all or parts of the company. It also owns the Chicago Cubs baseball team, KTLA-TV Channel 5 in Los Angeles and other media properties.