As gun makers took a financial drubbing in the wake of the Newtown, Conn., shootings, Massachusetts Treasurer Steve Grossman directed the state pension fund Tuesday to review its investments in any companies in the firearms industry.
Investors have reacted strongly to the killings this week, battering the stocks of publicly traded gun makers and prompting the private equity firm Cerberus Capital Management on Tuesday to pledge to sell the nation’s largest gun company, maker of the semi-automatic weapon used to kill 20 children and 6 adults at the Sandy Hill Elementary School. Cerberus also controls the Steward Health Care System in Massachusetts.
Comments
This makes sense, doesn't it? I wonder if Cerberus owns any compounding pharmacies?
Compounding pharmacies are set up to benefit society. So yes, this makes sense. Get it?
This is a good and prudent move, Mass should also divest itself in Tobacco firms as well becasue they threaten the health of all of us and the future of our children. Not to kill a dead horse here, but Mass should also Divest its pension holdings in firms that are OFf shoring Massachusetts jobs in great numbers - firms like State Street Corporation (StT) SYNTEL Corporation (SYNT) and JP Morgan Chase. If a firm such as State Street is in the process of wiping out its entire Boston Fund Adminsitration division 750 emplouyess from the Hancock Tower and above the Copley square Mall, should Massachusetts really be investing in them while they bet us against us ? Funds that are offered by SSgA and SPDR are State Street investment vehicles and we as a people need to stop betting on people that are betting against America and the future of our children.
http://www.wgbh.org/programs/Greater-Boston-11/episodes/July-19-2012State-Street-outsourcing-40276