State Treasurer Steve Grossman is wise to review how much of Massachusetts’ $50 billion pension fund is invested in gun companies. Then, once the data are gathered, lawmakers should ensure that public dollars aren’t being invested in firms that promote irresponsible weapons use or seek to undermine the sound regulation of firearms. The massacre in Newtown, Conn., has drawn new attention to disconcerting ad campaigns by gun makers and to the political influence of the gun lobby — and led to much-needed soul-searching by investors wary of supporting either.
The pension fund has $1.4 million invested in two gun makers and an unspecified amount in gun retailer Academy Sports and Outdoors. Grossman said he will review the fund’s holdings for any further gun industry holdings. But the treasurer, who chairs the state’s main pension board, leaves it to Beacon Hill to set policies about whether and when to get rid of investments in certain companies. Massachusetts legislators have done so in the past, divesting from companies doing business with Iran, Sudan, and tobacco firms, and banning investments involving gun and ammo makers in Northern Ireland.
Comments
With two firemen killed by a hoax caller in New York, perhaps the nitwit NRA is going to suggest arming firefighters.
Or perhaps the nitwits in NY are going to decide it is NOT a good idea to turn folks who kill people with hammers loose after 16 short years?
Or maybe NY will figure out their gun laws aren't worth the paper they are written on?
Or maybe NY will rethink their stand on the death penalty for nitwits that like to kill people?
Or could it possible that NY'rs will get tired of their liberals loud mouths?
I am truly hoping that the pension funds back out, the stocks will drop. Marvelous! I have been looking to invest.
Historically, this has happened before. A slight dip, then up they go! Thanks to the knee jerk reactions. Of course, the Pension fund wil not be able to benefit from it. OK by me, I am not in it.
As much as the gun hating liberals would like it to be otherwise, a huge number of people have figured out that they cannot count on the police/justice system in this country to protect them anymore. You will notice I linked the police and justice system. The police try hard, but it is the justice system that worked in the past, it doesn't anymore. As the trite saying goes, the police will be there in minutes, when seconds count. People know that is true. It was true at Sandy Hook.
Most of us also know that the Feds are not going to outlaw guns, maybe, just maybe so called "hi capacity" magazines. But the business of guns? It is going to keep increasing, just as it has been doing. The sales of weapons did not go up in this country after Sandy Hook because the "gun nuts" were "stocking up". Nope, it was a whole lot of first time buyers, that should tell us all something.
You can't count on the police because people are holding arsenals of high powered, high capacity weapons so they can be big men in the world. The police will tell you and have been telling you they're out-gunned. Since you believe gun sales will only increase, it follows the deterrent value will go down. Then I suppose you'll need a rocket launcher and hand grenades.
PValen: The reason we cannot count on the Police is not because people are holding arsenals of high powered, high capacity weapons as you state. It is because it takes them a certain amount of TIME to respond. Violent attacks occur within seconds, not minutes. The Police really do not have a chance to respond.
Your statement is a slap in the face to Police Officers. One could infer from it that they are "holding back" because they are frightened because someone MIGHT have an arsenal. I have never seen, nor heard of a police officer doing that. An apology to LEO's from you would be appropriate.
Your statement that Police are saying they are outgunned is incorrect when it comes to gun ownership by the general public. We do not have access, nor do we own any weapons that are superior to what the Police departments have access to. Some individuals have obtained machine gun licenses from the Federal government and are properly permitted by the state. This is EXTREMELY rare and monitored very carefully by the state and federal governments. There have not been cases of legally owned machine guns being used against police. The statement you made comes from criminals who have obtained military grade weaponry (full automatic, prohibited, illegally imported, etc) via theft. In other words, your statement is totally inaccurate.
While I am at it, I will address the "high capacity" issue. High capacity is a manufactured term peculiar to certain states. The STANDARD magazine capacity for an AR15 is 20 or 30 rounds, depending on manufacturer. The ten round magazine was only created to satisfy certain states that created laws to limit magazine capacity. MA being one of them. In most states in this country, 20 or 30 rounds is STANDARD, not HIGH CAPACITY.
Your supposition that I will need a rocket launcher and hand grenades is also incorrect. You have stated that before.
$1.4 million as a percentage of PRIM's investable assets is a rounding error. This was an exercise in pandering for headlines by Grossman, and it worked. Other than that, it was not only meaningless, it was embarrassing. Rome's burning, sir, here's your fiddle.