'Sandy Hook' rules get [pension] board backing

The Philadelphia Inquirer ^ | Jan 25, 2013 | Bob Warner

[JoyjoyfromNJ]

Philadelphia's pension board voted unanimously. . .to ask all gun manufacturers, distributors, and retailers with which it has invested $15 million in icty pension money to adopt a set of 8 "Sandy Hook Principles" designed to reduce gun violence. . . . Among other items, the city wants the companies to support a federal system requiring background checks on all gun and ammunition sales. . .

[JoyjoyfromNJ]

I call this backdoor gun control. They're using divestment threats to get compliance they know they won't/can't get through other legal means. Other cities/states are doing the same thing; see article posted here today re Chicago.

Israel constantly faces this issue as well, commonly called "boycott,divestment & sanctions" on the college campuses.

[Truth29]

Pension boards, mutual fund managers, and other fiduciaries who make decisions on political or social reasons rather than rate of return should be sued into oblivion unless their charter provides explicitly for decisions other than for the greatest capital benefit of the fund members.

[Boogieman]

I don’t think this will phase gun manufacturers much. Divestment is not any kind of threat when the industry is booming and gun stocks are on the rise. There will be plenty of investors happy to buy this stock and take it off of the Philly pension funds’ hands.

[SJSAMPLE]

Short term valuations, yes.
But there’s uncertainty out there and that’s bound to show up in the stock price sooner or later.

For now, manufacturers are selling out their inventories at a historical pace and their stock prices reflect this. In a few months, when sales slow down and a ban shows up for a vote, maybe not so much.

[Neoliberalnot]

“The United States prioritizes the right to keep and bear arms over the protection of citizens’ lives and personal security...”

Damn right we do! But more to the point. More innocent people were slaughtered by out-of-control governments in the 20th century than all the violent crime and civilian mass shootings in human history combined. The average human being in the 20th century was many times more likely to die at the hands of abusive government than from any form of civilian crime. Gulags, concentration camps, and mass genocide are not the purview of deranged individuals. They are the product of governments that have achieved too much power (and the megalomaniacs who lead them).

How on earth can people not see that getting rid of guns is far more deadly than having them?

Given the choice of trusting my neighbor with a so-called assault weapon, and trusting some bureaucrat in a government office. I choose my neighbor. People of principle realize there are worse things in this world than being gunned down by a nut-job. Living without freedom is worse (and actually more dangerous on the average).

[askrenr]

I think I will just boycott Philadelphia.

[MichaelCorleone]

“Pension boards, mutual fund managers, and other fiduciaries who make decisions on political or social reasons rather than rate of return should be sued into oblivion unless their charter provides explicitly for decisions other than for the greatest capital benefit of the fund members.”

Absolutely right.

[Truth2012]

Someone needs to start a list of people,places and things that pro traditional Americans need to boycott and avoid, not purchase- not support and turn our backs on.

Two can play that game.

[absalom01]

Some more names to remember. The folks who voted to support Nutter:

Principal Staff
Francis X. Bielli, Esquire, Executive Director
Christopher McDonough, Chief Investment Officer
Robert Dubow, Chairman & Director of Finance
William Rubin, Vice Chairman & Trustee

Board Members
William Rubin, Trustee
Carol G. Stukes, Trustee
John Reilly, Trustee
Ronald Stagliano, Trustee
Alan Butkovitz, Esquire, City Controller, Trustee
Albert D’Attilio, Esquire, Personnel Director, Trustee
Shelly Smith, Esquire, City Solicitor, Trustee
Richard Negrin, Esquire, Managing Director, Trustee

[Road Glide]

“I think I will just boycott Philadelphia.”

Time to split Philadelphia (and the surrounding area) from the rest of Pennsylvania.

Perhaps it could be ceded to New Jersey, or Delaware (if they would want it). I’m sure Maryland would welcome it.

I think most folks in the rest of PA would be very happy to see it go...

[Uncle Chip]

These socio-political investment strategies always backfire.

They sell the stock below market value.

Then others with economic sense swoop in and pick up a deal.

Go ahead, Philadelphia, make someone investor’s day.

[Oatka]

I call this backdoor gun control.

Indeed. obama & Crew are muscling the banks the same way;
Obama Inc Trying to Use Banks to Destroy Gun Manufacturers

[Venturer]

Doesn’t make sense to me.

They invested their money there because the Companies were making money.

Now they want to tell those companies how not to make money.

Pretty stupid if you ask me. Tell them to tale their investment and shove it.

[Vaduz]

I call this backdoor gun control.
The black market is now open for business 24/7.

[combat_boots]

“The United States prioritizes the right to keep and bear arms over the protection of citizens’ lives and personal security...”

“The United States prioritizes the right to keep and bear arms as part of the right of sovereign citizens to their protection of their lives and personal security...”