NY mayor pressures police pension fund to dump gunmaker stocks

[Eugene]

Source: Reuters

US | Thu Jan 7, 2016 3:50pm EST

NY mayor pressures police pension fund to dump gunmaker stocks

NEW YORK

New York's Mayor Bill de Blasio has submitted a resolution to the city's police pension fund, urging it to consider exiting investments in companies that manufacture assault weapons for civilians, the mayor's office said on Thursday.

"After the countless tragedies involving assault weapons, public outcry over mass shootings and legislative proposals to outlaw assault weapons, we should not be investing in companies that manufacture and market assault weapons to civilians - ever," de Blasio said in a statement.

The resolution was submitted on Wednesday, the mayor's office said.

(Reporting by Edward Krudy; Editing by David Gregorio)

http://www.reuters.com/article/us-usa-obama-guns-new-york-idUSKBN0UL2HJ20160107

[mwrguy]

1. He'd be selling while the stock is high

so it's a good idea for a variety of reasons

[benEzra]

2. Another example of the "assault weapon" meme shutting down rational thought.

Does he realize that two or three times as many Americans are killed annually riding bicycles? Better dump that Dorel Industries/Pacific Cycles stock. And it would be supremely ironic if the pension fund invests in alcohol companies...

Of course, the "assault weapon" fraud has never been about gun misuse, or saving lives.

[JonathanRackham]

3. Ironically Smith and Wesson makes bicycles.

[JustABozoOnThisBus]

4. I have some Browning golf clubs

So you'd think they'd be accurate. But no ...

[discntnt_irny_srcsm]

5. By all means stay away from gun makers

Probably a good idea to avoid stocks like Raytheon since they make weapons used mostly to kill brown people in other countries. The same for General Atomics, they make a number of UAVs. Add to the list all the typicals like Lockheed, Boeing, General Electric, General Dynamics, Northrup Grumann...

Might also be a good idea to avoid having any public utilities from buying buses from AM General since they make HMMWVs and to also avoid investing in their owners Renco Group and MacAndrews & Forbes. HMMWVs are often outfitted with M249 SAWs and that's just downright unfriendly.

Stay away from the banks that make loans or extend credit to these places since your just dealing in blood money. Don't buy diamonds or invest in mining them or invest in companies that lend to them.

Just don't get me started on Microsoft and what DoD uses some of their products to do.

[DonP]

6. I'm sure Mr. DeBlasio will make up any difference to them

No problem finding equally well performing stocks for the return for the Pension funds right?

Of course no petrochemical companies, no defense stocks, no big pharma stocks either.

Then, when the pension fund under perform and don't return on their investment, he'll take all the retired cops and firemen in at his house and take care of them out of his own pocket.