More Business Pressure On Firearms Manufacturers
BY Herschel Smith
6 years ago
Not unexpected news from Florida:
Florida has joined a coalition of major pension funds and investment companies that have adopted a set of principles aimed at encouraging gun manufacturers and retailers to act responsibly.
Ash Williams, executive director of the State Board of Administration, which oversees the state pension fund and other investments, said the agreement carries no mandates for gun-related companies. But he said it is designed to raise awareness of issues that could impact the value of investments in the firearms industry.
“We’re not telling anybody, any private company, exactly what they should be doing. Our concern is motivated very simply by one thing, as fiduciaries anything that poses a risk to the value of the assets that we own on behalf of our beneficiaries, we want to make sure we’re managing it properly,” Williams said in an interview with The News Service of Florida.
“By extension, if there is a risk or peril to the stock value of a company that we own in our portfolio, we want to make sure that company is, A, aware of it and, B, attentive to it. That’s all this is,” he said.
In signing the “Principles for a Responsible Civilian Firearms Industry” last month, Florida joined more than a dozen public pension funds and investment companies that have adopted the document.
“We believe that enterprises involved in the manufacturing, distribution, sale and enforcement of regulations of the firearms industry are well-positioned to support pragmatic transparency and safety measures that contribute to the responsible use of firearms,” the document said.
Safety measures. Like stop selling semi-automatic firearms, invest in so-called “smart guns,” and do anything else the collectivists want, like go out of business entirely.
All by plan. The answer is simple. If you’re a firearm manufacturer, ensure that your employees own a majority of the stock and tell the hand-wringers to go pound sand.
On December 4, 2018 at 12:16 pm, billrla said:
Manufacturers of breakfast cereals need to act more responsibly by removing sugar and heavily processed grains from their products. Or something like that. It’s the right thing to do. Now, pass me the Cap’n Crunch, will yah?
On December 4, 2018 at 12:50 pm, Fred said:
State Pensions have long been the original Activist Investors. When it’s an activist Hedge Fund or Private Party everybody on Wall Street screams; ‘foul, foul, stock manipulation’ but when it’s a State or the feds they all start licking boots. You have to choose boys and girls, and you only have one shot to get it right, between free markets or safety. Choose wisely. Freedom and Safety are antithetical and have a very real and direct inverse relationship, one cannot exist at the same time, in the same space with the other.
On December 4, 2018 at 6:55 pm, John said:
Engage with the customers such as;
They should team up with pro gun groups
and run stock offers to the readers in the
firearms publications. The faithful are out
there and they will respond.
On December 7, 2018 at 9:32 am, Michael K. said:
@Fred –
Good points. I’ll choose free markets and freedom over safety any day.