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NYC Teachers side W/Cali.
#1
Bloomy's teachers pension fund doesn't like guns either. Full story here.

Quote:NEW YORK (Reuters) - New York City's teacher pension fund has sold its stocks of publicly traded firearms manufacturers, becoming the largest U.S. public pension fund to do so in response to the school shootings in Connecticut, the city's top financial officer said.

The $46.6 billion fund divested all its holdings in five companies, for investments valued at $13.5 million as of January 26, a spokesman for New York City Comptroller John Liu said on Friday.

U.S. teachers and public employees retirement funds, began reviewing their investments in firearms makers after 20 children and six adults were shot dead at an elementary school in Newtown, Connecticut in December.

"There is no need to support these companies, whose products can destroy lives and shatter communities in the blink of an eye," Liu said in a statement. "Our investment portfolio gains nothing by doing business with these firms."

The five companies from which the New York City fund divested are Alliant Techsystems Inc., Olin Corp., Forjas Taurus SA, Smith & Wesson Holding Corp. and Sturm, Ruger & Co..

Under pressure from the second-largest U.S. public pension fund - the California State Teachers' Retirement System (CalSTRS), U.S. private equity firm Cerberus Capital Management said days after the massacre in Connecticut that it would sell gunmaker Freedom Group, which made the brand of semi-automatic rifle used in the shooting.
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"The problems we face today are there because the people who work for a living are outnumbered by those who vote for a living." Dan Cofall
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#2
billamj;79623 Wrote:"There is no need to support these companies, whose products can destroy lives and shatter communities in the blink of an eye," Liu said in a statement. "Our investment portfolio gains nothing by doing business with these firms."

Will they be selling their shares in Lockheed Martin, Raytheon and Boeing? What about the pharmaceutical companies pushing SSRI's? Do they know how many people have killed themselves and others on these drugs? How many famous mass shooters were taking them at the time they carried out their carnage? When are they selling these stocks also?
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#3
Jon Doe;79637 Wrote:
billamj;79623 Wrote:"There is no need to support these companies, whose products can destroy lives and shatter communities in the blink of an eye," Liu said in a statement. "Our investment portfolio gains nothing by doing business with these firms."

Will they be selling their shares in Lockheed Martin, Raytheon and Boeing? What about the pharmaceutical companies pushing SSRI's? Do they know how many people have killed themselves and others on these drugs? How many famous mass shooters were taking them at the time they carried out their carnage? When are they selling these stocks also?

Yeah, but with their boy in the WH those things are politically correct right now so that's OK. It's those evil, inanimate, guns that we need to get rid of. Dodgy
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USAF (1976 -1986) NRA, GOA Anim_sniper2
"The problems we face today are there because the people who work for a living are outnumbered by those who vote for a living." Dan Cofall
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#4
So they divest themselves of one of the only stocks that's continually doing great in the market? How much do you want to bet in 5 years they're bitching about how their pension fund is even worse off than it already is?
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#5
streaker69;80278 Wrote:So they divest themselves of one of the only stocks that's continually doing great in the market? How much do you want to bet in 5 years they're bitching about how their pension fund is even worse off than it already is?

Those are my thoughts exactly. Yeah, it makes perfect sense in this economy to drop stocks that are actually doing well. I'm also betting there are pension holders who are asking this very same question.
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