California State Teachers Retirement System to Divest From Gun Companies
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Earlier this week, officials from the California State Teachers’ Retirement System (CalSTRS), the nation’s largest teacher pension fund, moved to divest from companies manufacturing guns and ammunition clips.
State Treasurer Bill Lockyer explained the pension fund’s motion to distance itself from gun companies. The Associated Press reports:
“CalSTRS’ action targets ammunition clips that turn ordinary guns into killing machines, assault weapons and other firearms that pose extreme dangers to public health and safety,” Lockyer said.
CalSTRS holdings in private equity firm Cerebrus Capital Management had the teachers fund investing in the company that manufactured one of the guns used in the Sandy Hook massacre. The teachers’ fund also has investments in Sturm, Ruger & Co. and Smith & Wesson Holding Corp.; after the devastating recent violence, teachers and pension board members began to understand the divestment as an ethical necessity.
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http://unionosity.com/education/california-state-teachers-pension-fund-moves-to-divest-from-gun-companies/