Two years after the heinous attack at Sandy Hook Elementary, California teachers are “mad” that their pension fund is still invested in Bushmaster firearms.
Despite post-Sandy Hook promises to divest, the pension fund, CalSTRS, is invested in Freedom Group, which owns Bushmaster.
According to Eyewitness News 12, CalSTRS is indirectly invested in Freedom Group via several funds “managed by private equity firm Cerberus Capital.” The Cerberus funds are invested in Freedom Group, which is “also known as Remington Outdoor.”
In an attempt to turn the tide on such investments, California teachers are planning to gather and protest at the CalSTRS fund meeting on April 2.
California Federation of Teachers president Joshua Pechthalt said: “As teachers and parents, we see the havoc these guns bring to our community, our family and our loved ones. So whatever it takes, we want our money divested from gun manufacturers.”
Investors spent the last two years racing to gun companies to get in the monster profits some of them were generating in 2013 and 2014. But Pechthalt is not impressed. He said, even if dropping gun companies “means a slight loss, so be it.”
He said CFT is “not weighing [what’s] financially beneficial” at this time.
Follow AWR Hawkins on Twitter: @AWRHawkins. Reach him directly at email@example.com.