New York City Teacher’s Pension Sells Off All Gun Stock Says ‘No reason to support these companies’
According to TheBlaze.com, The $46.6 billion pension fund for New York City schoolteachers has sold its stock in companies that make guns and ammunition, city officials announced Friday.
“There is no need to support these companies, whose products can destroy lives and shatter communities in the blink of an eye,” City Comptroller John Liu said. “Our investment portfolio gains nothing by doing business with these firms, and this is a sound decision that sends an important message about our commitment to addressing the plague of gun violence in every possible way.”
Michael Mulgrew, president of the United Federation of Teachers, added, “This is the right thing to do. After the tragedy at Sandy Hook, we as educators had to make sure that guns were not part of our holdings.”
Well, my gun stocks are up about 20% in the last 4 months. Hope the teachers in NYC end up with enough money for retirement since their pension investors apparently make financial decisions based on personal emotions.
Read the full article here:
http://www.theblaze.com/stories/2013/02/15/nyc-teachers-pens...
So much for fiduciary responsibilities. If I were the rank and file, I would complain to the SEC and have the NYC Comptroller John Liu investigated.
Then they should return ever cent they recieved from those stocks ! since they’ve chosen to take this moral high ground that their invest ment is stained with blood? Then clear your contience and return the profits from those investments in the gun manufacturers. Come show some civility and give back all those $$$$$$$$$$$$$$$$ I’ll gotten dollars ? Show us how to spread the wealth? lead by example? . Don’t let all those 0000000000′s on the back side of those other numbers keep you from doing the right thing! After all I’m sure those profits have put in the top 2% now?.
Which companies I’ll take their share
not the brightest bulb on the tree we see. i would be screaming if he did that based oon a emotional thought every stock guy tells you as well as gamblers never let your emotions cloud your judgement.
i would be screaming
No worry, if their portfolio doesn’t live up to expectations we the taxpayers will pay for their emotional decisions. Since these companies are so evil I am expecting a return of their gains.
So they don’t like investing in things that can shatter communities in the blink of an eye huh… wonder if their portfolio have stock in any car manufacturers, or beverage companies that sell alcohol…
Also –
Just another example of absolutely retarded the left is; that it would sell stock that is OUT PERFORMING THE MARKET, and (most of the major COs) have DOUBLED or TRIPLED their value in the last 5 years…
Ruger +360%
S&W +80%
Cabela’s +226%
http://wallstcheatsheet.com/stocks/gun-stocks-deliver-high-performance-for-investors.html/
*clap*clap*clap* Keep showing us your brilliance…
“Retarded”. Really? Project much?
You added some real value to the thread. *clap* clap* well done.
Blaming gun companies, guns, the looks of guns, high capacity magazines for Sandy Hill and to sell off stock shows ignorance and they should also blame the AAA for drunk drivers and terminate their memberships.. Some times you have to wonder how supposedly intelligent people can be so stupid. These stupid people are trying to make reason and rational out of something that doesn’t exist… Just realize how stupid the average person is and then understand that half are more stupid than that… I think that the lower half lives in NY…
One sided Idiots
How about making the choice to invest in gun companies that actually save more lives through their use, than they ever take in a year. Or are you not interested in that side of the discussion ????
I am so fed up with people only looking at the number of deaths caused through criminal and evil use and totally ignoring the number of times law abiding people use firearms of all sorts to defend against a violent crime that does not make the news and could have potentially ended up with their own death.
By Liu’s line of thinking, they should also sell off any Auto Industry stock they have because of the deaths that happen each day caused directly by Automobiles, also Knives, Hammers, and Baseball bats are used to commit homicides across the U.S.
Retards!
“When I think of how incredibly stupid I was for 65 years not being able to see clearly that “I” and only I can be responsible for my own physical protection…not to mention the protection of CHILDREN AND WOMEN who could be molested in my presents I thank all of the conceal carry people that clued me in.
Part of the problem (when I was a child my dad would sometimes have to ask me if I was ‘helping or part of the problem’) for us is the government public school system and teachers who blind us to the power of the constitution and our personal responsibilities. Damn you public school teachers.
I carry now 100% of the time and in my home to be able to protect myself, my wife and others. I am at peace. Only the other concealed carry people know the peace that I know. I don’t ever expect to have to even think about drawing my weapon but if I do I will be able to do more than watch helplessly like the heros of Sandy.
Sell your stock, it’s all you know.
The same Liu that has been using his taxpayer-paid Staff to be his biggest campaign fundraisers? This guy putting HIS political beliefs ahead of teacher’s pension benefits? Say it aint so….
Who cares,I’ll buy their stocks?who cares about these fn liberals.
The manufacturers don’t need for the school funds to hold the stock. Whether they hold the shares or not does nothing to support the company. It has been the comapnies supporting those who have bought shares on the secondary market, including these pension funds.