What a stupid move considering the sales of guns have jumped over the last 4-years thanks to Obama. Sales are already going up after Obama’s Newtown speech and will continue to go up.
(Reuters) – New York City’s pension funds may sell nearly $18 million worth of stock in four companies that manufacture guns and ammunition, a spokesman said on Tuesday.
The city’s pension funds join a growing list of investors and corporations that are distancing themselves from the gun industry following a massacre at a school in Newport, Conn., last week that claimed the lives of 20 students who were 6 and 7 years old.
The city is reviewing its holdings and “aggressively exploring all options, including divestment,” said Matthew Sweeney, a spokesman for New York City Comptroller John Liu.
New York City Mayor Michael Bloomberg has been a leading advocate for gun control in the U.S., pledging to put some of his personal fortune behind the effort.
New York’s 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.