Chasing The News Again
On the docket:
Motion (Perry-Parks) requesting that the Office of Finance, the City's three pension fund systems, and any other City investment entity, report on the feasibility of divestment of any City funds from companies that produce, manufacture, sell, or market assault weapons, high volume ammunition magazines, high caliber ammunition, and related equipment.
Community Impact Statement: None submitted
Considering that the City's pensions are in huge financial trouble, it might be fiscally negligent to divest these securities, assuming they own them to begin with. Since President Obama has set his sights on the NRA, gun sales have skyrocketed. The stocks of these firms must be through the roof. Now that's a fiscally prudent move for the retirees.