Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
Story Views
Now:
Last hour:
Last 24 hours:
Total:

California teachers stage coordinated protests against gun investments (VIDEO)

% of readers think this story is Fact. Add your two cents.


A California teachers’ union staged protests in Sacramento and Los Angeles on Thursday to voice concerns over its retirement money being invested in a company that manufactures the rifle type used in the Sandy Hook school massacre.

The California Federation of Teachers is seeking to pressure the California State Teachers’ Retirement System to divest $500 million from Cerberus Asset Management, an investment firm that owns a stake in Remington Outdoor, manufacturer of the Bushmaster rifle used during the December 2012 Connecticut school shooting, the state teachers union announced.

“It is long past time for CalSTRS to finish what it started two years ago,” said Jeff Freitas, CFT secretary treasurer. 

CalSTRS in January 2013 voted to divest retirement funds “from companies that manufacture firearms that are illegal for sale or possession in the state of California.

The amount actually invested in Remington is closer to $375 million, CalSTRS spokesperson Michael Sicilia told Guns.com. The $500 million figure cited by the union is the maximum amount that can be put toward the private equity investment, Sicilia said.

The retirement board – responsible for managing an estimated $190.8 billion in retirement funds for 879,000 California educators and their families – made a similar decision in 2009 to divest from tobacco companies.

In a statement made Wednesday, CalSTRS said that following its 2013 decision to divest, the retirement board pulled $3 million in public equity stocks from Smith & Wesson and Sturm Ruger, with no similar investments made since.

At that time, Cerberus said it would sell its shares of Remington Outdoor, formerly Freedom Group, but has not yet done so.

As we continue to push them on this front, we have also worked to exercise patience and give them time to execute what is a complicated transaction,” Sicilia said.

Sicilia cited legal and contractual obligations which prohibit CalSTRS from severing ties with the investment firm – provisions it has sought to eliminate in future agreements. One provision would allow CalSTRS to opt out of any firearms-related investments.   

“More importantly, we cannot take unilateral action, in this case, to remove a specific company from an investment pool,” Sicilia said. “Nor can we expose the fund by prematurely or imprudently selling about $375 million worth of holdings at a loss without thoroughly exhausting all other options first.”    

During the protest, or teach-in, union protestors “gave a lesson” and screened “Gun-free Retirement,” a Brave New Films documentary that looks at the history of gun violence, the economics of divestment and the influence the gun industry has had on American government.

The post California teachers stage coordinated protests against gun investments (VIDEO) appeared first on Guns.com.


Source: http://www.guns.com/2015/04/02/california-teachers-stage-coordinated-protests-against-gun-investments-video/


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.


LION'S MANE PRODUCT


Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules


Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.



Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.


Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.