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In the wake of the recent school tragedy in Connecticut, California Treasurer Bill Lockyer is...

In the wake of the recent school tragedy in Connecticut, California Treasurer Bill Lockyer is proposing that CalPERS and CalSTRS, the state's two public pension funds, divest themselves of gun makers. "I want BlackRock (BLK), I want Credit Suisse (CS), I want everyone else to know that we're going to use our economic leverage if it's up to me, and I hope other private investors will do the same thing," Lockyer says. "They (the gun-makers) ought to feel the economic consequences of their bad behavior."
Comments (69)
  • For sure, man! Let's do that so they can lay off a bunch of American workers. Then punish the bow makers, air rifle companies, heck, let's punish the companies that make knives. That will teach them! Should only be able to kill people slowly, one at a time with brute force from your fists.
    19 Dec 2012, 08:49 PM Reply Like
  • Please, sell your stake in a legitimate, profitable business. Myself and others will be there to buy once you drive the price down.
    19 Dec 2012, 09:05 PM Reply Like
  • lol drama drama. How many people do the gun makers actually employ though?
    19 Dec 2012, 10:02 PM Reply Like
  • Tens of thousands, just think of all that goes into firing a weapon.


    First you have to acquire the metal from the ground, process it, shape it to be shipped out and then machine it. Lots of shipping, mining, oil, lubricants, involved here.


    Then ammo.. once again.. brass or steel case, casting. The powder. etc etc etc. Plus someone has to sell all of this so it supports retail and taxes revenues.
    19 Dec 2012, 10:04 PM Reply Like
  • You must be sick. Nothing is worth the life of a child, let alone 20 plus 8 adults. These children, their teachers and school personnel lost the ultimate freedom and liberty, not just a job. They lost their lives because those who like guns insist on their freedom and liberty to have them. I guess we are that kind of society: Guns are worth more than people.
    19 Dec 2012, 11:40 PM Reply Like
  • That makes no sense. They can invest the money back into other American companies that create jobs here.


    It's our state let us decide where we want to spend our money.
    19 Dec 2012, 11:52 PM Reply Like
  • They lost their lives because a psycho went batshit insane and no one had any way to stop him (thanks gun free zone!!). Incidents like this are all the more reason we should be free to own and carry weapons to protect ourselves and our loved ones. And even if the government could be trusted to protect everyone, they aren't capable of it, so I will keep my gun close by.
    19 Dec 2012, 11:57 PM Reply Like
  • Oh. So it follows that we can no longer buy a car?(freedom). I'm sorry but more children are killed in automobile accidents than by armed, mentally ill killers. So, if we ban automobile sales, we will indeed protect children from harm.


    But I offer an alternative.


    Rather than arm teachers, they should erect airport style metal detectors, staffed by armed, US military veterans of the Persian Gulf/Afghanistan/Iraq wars.
    20 Dec 2012, 12:17 AM Reply Like
  • Yeah! Who in their right mind would want freedom and liberty?
    20 Dec 2012, 01:19 AM Reply Like
  • Speaking as a non-american, even I have to lol at gun control supporters. Absolutely no research supports the notion of "less guns, less crime"
    For all those that have a problem with this, I look forward to buying your shares in RGR and SWHC.
    20 Dec 2012, 02:15 AM Reply Like
  • Thank security was non-exsistent. And, did anyone notice what the cops who swarmed the school were carrying?
    omg- evil assault rifles.
    20 Dec 2012, 06:37 AM Reply Like
  • We're the ones unfortunately losing our liberty & freedom.
    20 Dec 2012, 07:37 AM Reply Like
  • It is nice that clear rationale thinking is the hallmark of people in leadership positions. Never mind how hypocritical it is to hold defense contractors that make the munitions to bomb people by the thousands.


    I have relatives from Glasgow Scotland. That is the city in Europe where you are most likely to get stabbed by a knife. They should get rid of all knives.


    The gunmakers should just buy the stock back on the cheap. Or do an LBO.


    Nothing is going to fix the tragedy we seen over the weekend but we need to quit reporting on this stuff and giving these people a stage. We dumped OBL's body in the ocean to avoid this problem why don't we do the same with these losers. This crazy publicity is a bigger problem than the guns.
    19 Dec 2012, 09:01 PM Reply Like
  • I personally grew up in Glasgow in the early sixties. Trust me it was an incredibly violent city, people were not usually disposed of by firearms, but by pure cold steel. Governments, the world over ought to set an example to their citizens, by not being overly keen to pull the trigger, as soon as a dispute arises. It is really not the gun that kills in a sense, it is the lunatic the pulls the trigger.
    20 Dec 2012, 05:15 AM Reply Like
  • My relatives from Glasgow are tough as nails and well into their 50's. It is hard for Americans to appreciate.


    Removing knives does not make any sense as they will just make their own. The root cause isn't the weapon it is the individual and what they are dealing with.
    20 Dec 2012, 09:55 AM Reply Like
  • To hell with the Constitution, the government has an opportunity to make the government even more powerful and remove the last form of protection from the people. Of course, it's all for the children. Really?
    19 Dec 2012, 09:02 PM Reply Like
  • Then I guess we can expect them to be divesting from the banks soon?
    19 Dec 2012, 09:05 PM Reply Like
  • Are they divesting themselves of automakers, or drug companies? How about anything related to the practice of medicine?
    19 Dec 2012, 09:06 PM Reply Like
  • ummmm . . . no . . . they are the Dems biggest contributors
    19 Dec 2012, 09:55 PM Reply Like
  • How many children have been killed by Obama's drones? Where were these critics on Election Day? They could have rid themselves of a child killer.
    19 Dec 2012, 09:12 PM Reply Like
  • Nonsense! Complete lack of perspective.


    More than 100 people die each and every day in highway accidents in this country. Let's order Blackrock and UBS and whatever brokers not to buy any car-maker stocks such as GM, Ford, and Toyota.


    This school-shooting incident is but one black-swan event. It's just statistics, just like deaths on the highways, nothing more.
    19 Dec 2012, 09:15 PM Reply Like
  • Vehicles kill people who drive drunk. Hope they divst themselves of the automotive stocks...and the alcohol! They kill more people in a week than guns do all year! Oh and let's not forget the smog in California too. How many people is that killing or making sick? Let's dump Caifornia in the Pacific. Their economy is taxing the American Taxpayer to death. I wish we could divest ourselves of that investment!
    19 Dec 2012, 09:16 PM Reply Like
  • We'll actually have a budget surplus next year and supply the growth drivers for the entire economy. Explain to me how is it we are taxing you?
    19 Dec 2012, 11:47 PM Reply Like
  • Budget surplus? Big. Fat. Chance. Wish there was a future I could short on that one.
    20 Dec 2012, 09:56 AM Reply Like
  • Cute, or we could actually go with projections and not the usual rhetoric.


    "The nonpartisan legislative analyst says California is facing a much smaller deficit of $1.9 billion through the end of the next fiscal year and could even see surpluses over the next few years."

    20 Dec 2012, 03:49 PM Reply Like
  • With Capitalists, you have to hit them where it hurts. The only language they understand is money. Kudos!
    19 Dec 2012, 09:16 PM Reply Like
  • I follow your logic but wouldn't it make more sense to start executing one gun company exec per hour til they agree to stop making guns?
    19 Dec 2012, 09:57 PM Reply Like
  • Then you could move on to the political dissidents.
    19 Dec 2012, 10:50 PM Reply Like
  • it's fitting as that's the one language that the socialists over there DON"T seem to understand.
    19 Dec 2012, 11:17 PM Reply Like
  • How are these people responsible for the misuse of their product? They can't possibly be expected to answer for the actions of a nutcase. But then again we're talking CA, which is full of nut cases. One of the most fiscally responsible states in the Union-not!


    Seriously, dump the stock fools! I'll be there to buy on the cheap too.
    19 Dec 2012, 11:41 PM Reply Like
  • Maybe we need a Stalin 5 year program to straighten things out and for the benefit of the nation make everything better. Ultimate security is best delivered through a military state. Of course one then has no security from the state.
    20 Dec 2012, 01:07 AM Reply Like
  • Not sure why everyone is bitching. The pension funds can pressure whoever they want who they give their money to. If you don't want them calling shots, then don't make them your biggest client/largest portion of your AUM.
    19 Dec 2012, 09:27 PM Reply Like
  • sure, until they come for you, then you might feel a tad differently
    19 Dec 2012, 09:56 PM Reply Like
  • I don't understand what you are talking about.


    It really isn't a complicated concept. If some pension fund makes up, say 80% of your AUM and they say, get rid of your gun-making company, or we pull out our AUM, then you STFU and do what they say. OR....don't rely on pension funds run by people who will interfere, which is what is happening here.


    Note that I didn't say that I didn't find what the California Treasurer is doing to be silly.
    19 Dec 2012, 10:00 PM Reply Like
  • Doesn't matter, it won't work. There is more greed in the world than there are social pansies selling stock because of the slaughter in CT.


    This is like selling BP after Deepwater Horizon. The best time to buy is when there's blood in the streets. (No pun intended.)


    SRI (socially responsible investing) is not capitalism, and it does not make money. Plenty of studies out there have demonstrated that. And so this nitwit in CA will lose money (or opportunity) if he makes investment decisions based upon anything besides profitability.


    Also, SWHC's business model is protected by the 2A... so good luck with that, all you "gun control" adherents.
    19 Dec 2012, 10:16 PM Reply Like
  • sure, but pension funds are known to have a knack for losing money. Why is this such a shocker?? LOL
    19 Dec 2012, 10:31 PM Reply Like
  • I believe that Calpers is seriously underfunded and can't meet all of their potential obligations. So why should we listen to their 'expert' advice?
    19 Dec 2012, 10:49 PM Reply Like
  • On the other hand gun sales are going up as all this anti gun rhetoric is driving sales.
    20 Dec 2012, 01:09 AM Reply Like
  • Yes yes the "gun-makers" and their "bad behavior."
    19 Dec 2012, 09:29 PM Reply Like
  • Foolish. The only one who behaved badly was the shooter.
    19 Dec 2012, 09:33 PM Reply Like
  • So "California Treasurer Bill Lockyer" has proven himself to be a fool. Using his logic, all mfrs of trucks/cars must be shunned since ~35,000 people are killed in vehicle accidents each year.
    19 Dec 2012, 10:01 PM Reply Like
  • And don't forget all the pollution that autos create. Sheesh.
    19 Dec 2012, 10:51 PM Reply Like
  • I think we should ban horses.. they can carry rabies! Rabies Kills people..


    And Cars .. we have to ban cars.. they kill people!
    19 Dec 2012, 10:05 PM Reply Like
  • Don't forget matches and lighters.... Euro soccer games...
    19 Dec 2012, 10:18 PM Reply Like
  • "Killer trees"...........anyone remember that one?
    20 Dec 2012, 01:09 AM Reply Like
  • Is this the same pension fund that earned 1% last year? CalPers?


    They have much bigger problems than this company making guns, that is for sure.


    Find a manager who can earn more than 1%, which can be earned in any saving account.
    19 Dec 2012, 10:15 PM Reply Like
  • This goes for anybody that does not support this Country, the Bill of Rights, or the Second Amendment..........PLEASE LEAVE!


    Nobody is forcing you to stay.


    19 Dec 2012, 11:00 PM Reply Like
  • I believe the first mass school killing (recorded) was done with explosives and no guns were involved.


    I'm a firm believer in the right to bear arms. I also realize that there have always been some restrictions. If he wants to make a case for changes to current restrictions then feel free. But to accuse gun makers of some sort of wrong doing is misplaced at best.


    You know what will cause more suffering and paid in the future than automatic weapons? Try our huge budget deficit and the debt. It will mean basic services will be cut and curtailed in the future and millions of children will lead lesser lives as a result.


    Our country should be preparing for the future - we should be debating a fresh water strategy, food sustainability strategy. We should be building out a new electrical grid infrastructure. Instead we pass out money through programs and promise free things to everyone. And none of the important things get addressed. Those are the things that will impact our grandchildren's lives.
    19 Dec 2012, 11:06 PM Reply Like
  • Dumb decision? Yes.
    Surprising? No.
    If they were holding Ruger, they sold a solid and reliable company that is making money hand over fist.
    But this is Cal. we're taking about, the capital of all things ass-backwards. The money from the proceeds will, in most likelihood, be invested in a more "socially responsible" company, i.e., green energy. And soon lost when said company goes bankrupt.
    19 Dec 2012, 11:13 PM Reply Like
  • Well, treasurers sure have the option for running for another office. After all, why settle for a job that has no hope of success when you can run for something better. Good luck to him, and to California.
    19 Dec 2012, 11:36 PM Reply Like
  • This is the poorest form of risk management. A treasurer of state proposing that portfolio managers exit their best performing names when there's still lots of upside for pension funds that sorely need it.


    Only from a public employee in a bankrupt state could suggest such a thing...madness.
    19 Dec 2012, 11:39 PM Reply Like
  • Wimps running these funds. What do you expect from the biggest failing state in it's socialist experiment. Everyone must conform "One of us, one of us"
    20 Dec 2012, 07:44 AM Reply Like
  • Wow, the "gun" has been blamed, again.
    ...too bad they are not intelligent enough (or honest enough) to see or admit the real reason was not the gun, it was the psychotropic drugs the kid was on. And also in the Virginia Tech and drugs were the cause of the batman kook as well. Why the pharmaceutical industry is not being battered is beyond me. I personally am going to invest in Ruger and SWHC as soon as I can.
    19 Dec 2012, 11:44 PM Reply Like
  • I will buy their shares at a discount, after they sell theirs for a nice loss.


    Then they will blame me for making money I guess. Or, tax me for having profited.


    Since they don't want "Blood money" does that mean I have to pay Cap gains taxes on the shares they sold me at a discount?
    19 Dec 2012, 11:45 PM Reply Like
  • Mr Lockyer's proposal helps to explain why CA is financially broken beyond recovery. And he is the CA treasurer! Perhaps he would also propose the CA pension funds divest themselves of all breweries (alcohol-related deaths) and all tobacco companies (lung cancer, etc) and every fertilizer manufacturer (pollution downstream), and any other company whose product may be remotely responsible for deaths. And to think that the good citizens of CA actually pay the salary for their state treasurer!
    19 Dec 2012, 11:46 PM Reply Like
  • I thought cops needed guns?
    19 Dec 2012, 11:52 PM Reply Like
  • There is ZERO bad behavior on the part of the gun manufactures. Wake up. The bad behavior is on the part of the people with mental deficiencies who use guns and other devices to further their ill-concieved ends.
    20 Dec 2012, 12:18 AM Reply Like
  • Get rid of car company holdings, sure cars kill people!!
    Get rid of oil company holdings, that produces polution!!
    Get rid of walmart stock, that sells cheap goods that use all those natural resources!!
    Get rid of all natural resource company holdings as well!!


    Go back to middle ages, grow your produce on the farm under protection of local warlord. Middle Ages, here we come.
    20 Dec 2012, 12:26 AM Reply Like
  • Has anyone on this forum actually read the Gun Control Act of 1934 and the revision in 1968? Here is a link to information that most of you need to have before making further fools of yourselves.
    20 Dec 2012, 12:45 AM Reply Like
  • I like that 1934 NFA law. The $200 fee is about $3,100 today.


    I say raise the price to $5,000. $10,000 for handguns.


    Let the gun nuts keep 1 shotgun in the home for personal protection.


    Pretty good troll by the editors, this will get more comments than those Friday night Paul Krugman posts.


    Us pinko commie liberals here in Cali led the way with getting you people to stop smoking, looks like we'll have to carry the banner for this one too. The pension fund that represents the state should reflect the interests of its people.
    20 Dec 2012, 01:59 AM Reply Like
  • You should just break SoCal off from the rest of US and form your own little leftist enclave. Most of the other Western states, the Midwest, and the South would not miss you or the kevorkians.
    20 Dec 2012, 07:55 AM Reply Like
  • There are so many guns in circulation now any gun restrictions really don't make a difference. And criminals will definitely have weapons the higher the price because they will just steal the money to buy them. For them it is a tool of business.
    20 Dec 2012, 09:57 AM Reply Like
  • Who appointed you God??
    20 Dec 2012, 10:45 AM Reply Like
  • "Who appointed you God??" Don't you know, every person that resides in the godlike state of CA is a god. It is by decree. Every one of them are smarter than all of the rest of us put together. If we would just let them rule, we would be so much happier.
    20 Dec 2012, 12:17 PM Reply Like
  • Jack Kevorkian was actually in Michigan. You're probably thinking of the Kardashians.


    And no, sorry, you will miss us, California disappearing off the map means worldwide depression, you can't troll SeekingAlpha anymore cause all the pipes that power the internet wouldn't be there, and pretty much no economic growth going forward.


    California is just a catchall strawman for everything the extreme conservatives happen to be grumpy about at the moment.


    BUT, think about this:


    What state did Reagan and Nixon come from?


    Our current Governor Brown, who created the largest budget surpluses in state history, and is creating another one in 2014, is considered more fiscally conservative and responsible than Reagan ever was.
    20 Dec 2012, 03:54 PM Reply Like
  • SHHH Liberal stupidity is how I make money. Never mind shout. They won't ever learn. Thank God :-)
    20 Dec 2012, 01:19 AM Reply Like
  • Screw Calpers screw Mass. let them sell the stock we'll just buy it cheaper. Thank you for the gift. They did great selling (sarcasm) cigarette stocks when they thought it was morally questionable & they performed great.
    20 Dec 2012, 07:42 AM Reply Like
  • They're hypocrites jumping on the knee jerk band wagon to try to make themselves look good to the idiots blaming society instead of the crazy individual who commited the act. They new what they were investing in when they first did so
    20 Dec 2012, 10:05 AM Reply Like
  • I seriously think we have a perfect storm of panic buying coming that will lead to insane performance in RGR and SWHC stock. Democratic president with a history of anti-constitutional behavior, mass shootings and even Canadian gun stores having a problem getting US manufactured guns just weeks after this incident. The next earnings reports of SWHC and RGR should kick ass. Will have an article on this soon.
    20 Dec 2012, 01:04 PM Reply Like
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