Pages

5 comments

Jump to bottom
1 jogiff  Sat, Jan 19, 2013 2:23:26am

I don’t think that it’s fair to say that Fortune Magazine is accusing CalSTRS of bankrolling Newtown. The author seems to just be calling for CalSTRS to divest from Bushmaster, a sentiment that I think we can all sympathize with (even if we don’t necessarily agree).

2 Aligarr  Sat, Jan 19, 2013 4:35:18am

Would a california teacher know what their Pension Funds were invested in ? And since the people who make Busmasters are a company that is owned by another Company which does not have a ticker name - Bushmaster ? It’s like owning Bayer stocks and not knowing Bayer makes insecticides . Therefore the Fortune article is either tongue-in-cheek or just plain STUPID .

3 Joanne  Sat, Jan 19, 2013 6:45:07am

Didn’t they say they were divesting completely right after the shooting? I seem to recall an article about that.

4 ReamWorks SKG  Sat, Jan 19, 2013 7:51:21am

Folks, Read the article. Of course they’ll say they’re divesting (though it’s a matter of a BILLION dollars in total, and not just a little bit.)

But the investment was against their already established guidelines:

What I honestly don’t understand, however, is why. Check out the following part of the pension system’s statement on investment responsibility:

Non-economic factors will supplement profit factors in making investment decisions. Non-economic factors are defined as those considerations not directly related to the maximization of income and the preservation of principal. The consideration of non-economic factors is for the purpose of ensuring that the Retirement System, either through its action or inaction, does not promote, condone or facilitate social injury.

Does Freedom Group not facilitate social injury? I’m not suggesting that social injury is its mission, but it certainly is a foreseeable consequence.
Moreover, CalSTRS has identified 21 risk factors “that should be included within the financial analysis of any investment decision.” Here is the one titled Human Health:

The risk to an investment’s long-term profitability from business exposure to an industry or company that makes a product which is highly detrimental to human health so that it draws significant product liability lawsuits, government regulation, United Nations sanctions and focus, and avoidance by other institutional investors.

Pretty sure the manufacture of semi-automatic rifles would apply here as well.

5 ReamWorks SKG  Sat, Jan 19, 2013 7:52:36am

re: #2 Aligarr

They’re supposed to be highly educated, licensed, professionals. Of course they should know where their money is going.


This page has been archived.
Comments are closed.

^ back to top ^

TwitterFacebook

Turn off all ads for a full year by subscribing!
For about 33 cents a day (per month) or 22 cents a day (per year), our subscription option turns off all advertisements at LGF!
Read more...

► LGF Headlines

  • Loading...

► Tweeted Articles

  • Loading...

► Tweeted Pages

  • Loading...

► Top 10 Comments

  • Loading...

► Bottom Comments

  • Loading...

► Recent Comments

  • Loading...

► Tools/Info

► Tag Cloud

► Contact

You must have Javascript enabled to use the contact form.
Your email:

Subject:

Message:


Messages may be published unless you request otherwise.
Tech Note:
Using the Contact Form
LGF Pages

This button leads to the main index of LGF Pages, our user-submitted articles. You can post your own LGF Pages simply by registering a free account with us.

Create a Page

This is the LGF Pages posting bookmarklet. To use it, drag this button to your browser's bookmark bar, and title it 'LGF Pages' (or whatever you like). Then browse to a site you want to post, select some text on the page to use for a quote, click the bookmarklet, and the Pages posting window will appear with the title, text, and any embedded video or audio files already filled in, ready to go.

Last updated: 2014-03-07 2:19 pm PST

LGF User's Guide
Recent Pages
Skip Intro
Tea Party Candidate Curt Clawson Wins Republican Primary to Replace Former Rep. Trey Radel
Curt Clawson, a businessman who was little known months ago in Southwest Florida, won a contentious GOP primary Tuesday to fill the U.S. House seat left open by the scandalous downfall of Trey Radel. Clawson pitched himself as an ...

6 hours, 29 minutes ago
Views: 76 • Comments: 0
Tweets: 0 • Rating: 0
MichaelJ
2014 Rip Curl Pro Bells Beach - ASP - Finals Day!
More: 2014 Rip Curl Pro Bells Beach - ASP The women's final is in the water now and the men's quarterfinals begin after a champion is crowned. Bells beach is delivering the goods today with clean conditions for the ...

7 hours, 2 minutes ago
Views: 47 • Comments: 0
Tweets: 1 • Rating: 0
Randall Gross
Kansas Man Seeks to Hide ‘Murder’ Tattoo Before His Murder Trial
A Kansas man charged with first-degree murder is afraid the tattooed mirror-image letters spelling out the word "murder" across his neck might prejudice a jury, so he is asking for a professional tattoo artist to remove or cover it ...

7 hours, 30 minutes ago
Views: 87 • Comments: 0
Tweets: 0 • Rating: 0
Political Atheist
NYT Story-American Middle Class Is No Longer the World’s Richest
After-tax middle-class incomes in Canada -- substantially behind in 2000 -- now appear to be higher than in the United States. The poor in much of Europe earn more than poor Americans. The income data were compiled by LIS, ...

11 hours, 38 minutes ago
Views: 107 • Comments: 0
Tweets: 0 • Rating: 2
cycroft
Russ Campbell’s Blog: David Cameron Says Britain Is a Christian Country—He Is Correct
Much is be­ing writ­ten about the United King­dom's Prime Min­is­ter David Cameron's re­cent as­ser­tion that Britain is "a Chris­t­ian coun­try." While some re­li­gious groups like the Hindu Coun­cil UK and the Mus­lim Coun­cil of Britain seem com­fort­able with the ...

16 hours, 26 minutes ago
Views: 132 • Comments: 3
Tweets: 0 • Rating: 1
FemNaziBitch
8 Most Absurd Lessons Americans Teach Kids About Sex
Despite the fact that 95 percent of Americans have premarital sex, and that this has been true for decades, abstinence-only education continues to be taught in classrooms across the U.S. Abstinence programs have received $1.75 billion in federal funds ...

1 day, 6 hours ago
Views: 287 • Comments: 0
Tweets: 0 • Rating: 3
palmerskiss
Debate Discrimination - Houston Chronicle
We're glad to see Mayor Annise Parker finally stand up and propose a human rights commission that will provide local due process for victims of public discrimination. Parker told the Chronicle editorial board that she plans to release a ...

3 days, 10 hours ago
Views: 212 • Comments: 0
Tweets: 0 • Rating: 0
Idle Drifter
Calgary stabbings: How knife crime in Canada can cause ‘moral panic’
What Calgary police chief Rick Hanson called the "worst mass murder" in the city's history didn't end at the barrel of a gun. Instead, the 22-year-old suspect identified on Tuesday as Matthew de Grood is accused of entering the kitchen ...

6 days ago
Views: 357 • Comments: 6
Tweets: 0 • Rating: 0
aagcobb
New York Electoral College: State Joins National Popular Vote Interstate Compact.
Ben Mathis-Lilley, Slate: New York Electoral College: State Joins National Popular Vote Interstate Compact. Instead of pushing for a Constitutional amendment, which would have to be ratified in 38 states, advocates ask individual state legislatures to pass an agreement: that ...

6 days, 7 hours ago
Views: 347 • Comments: 8
Tweets: 0 • Rating: 2
iossarian
Drug Companies Want Your Money
Two thematically-related stories on the BBC at the moment: UK drug company Glaxo 'paid bribes to Polish doctors' UK drug company GlaxoSmithKline is facing a criminal investigation in Poland for allegedly bribing doctors, BBC Panorama has discovered. Tamiflu: Millions wasted ...

1 week ago
Views: 349 • Comments: 0
Tweets: 8 • Rating: 0
 Frank says:

If your children ever find out how lame you really are, they're gonna murder you in your sleep...