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.