Murder Is Not A Good Investment
Following the announcement by Cerberus, the capital management firm that said yesterday that it was getting out of the firearms business, it appears that the notion of divestment is starting to catch on around the country.
The $150.1 billion New York State Common Retirement Fund is reviewing its investments in firearm manufacturers, a spokesman for New York State Comptroller Thomas DiNapoli said on Tuesday. New York City's pension funds are also reviewing investments and may sell nearly $18 million worth of stock in four companies that manufacture guns and ammunition, a spokesman said on Tuesday. The city's mayor, Michael Bloomberg, has been a leading advocate for gun control in the U.S.
And why is this important?
The city's $128 billion pension funds hold nearly $14 million worth of shares in ammunition maker Olin Corp, $1.7 million in gun maker Smith & Wesson Holding Corp, $2.4 million in gun maker Sturm Ruger & Co Inc and $17,866 worth of stock in Brazilian gun maker Forjas Taurus SA. Shares of Smith & Wesson fell nearly 10 percent, shares of Sturm Roger fell 7.7 percent, shares of Forjas Taurus fell 3.8 percent and shares of Olin fell 2.1 percent on Tuesday.
If you're wondering why the NRA is extending what Joe Scarborough called "the olive branch" this time, there's your reason. That's the real thing that's changed since the massacre in Connecticut. There is a fundamental reaction against the people who profit from mass slaughter, and the dots are being connected in ways they haven't been previously. The NRA is the lobbying arm of the armaments industry, and those guys are starting to lose money by the fistful, and they can see more of this happening, so, I guarantee you, we're going to be hearing about the "many causes" of gun violence on Friday. The NRA will suddenly become an advocate for lavish funding of the nation's mental-health system. These clowns didn't grow a conscience over the weekend. Their sugar daddies are losing money, and that's all that ever has mattered.
Read more: More Companies Pull Out Of Gun Investments - Murder Is Not A Good Investment - Esquire http://www.esquire.com/blogs/politics/more-companies-pull-out-of-gun-investments-121912#ixzz2FcDAfpGz