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It appears that perhaps the recent massacre at Sandy Hook Elementary School is going to be enough to get companies to start thinking about the products they put on the market.  Well, at least when it comes to guns.  Private Equity firm Cerberus has stopped investing in firearms maker Freedom Group after the killings that took place last week. One of the holdings of Freedom Group is Bushmaster, the company that makes the rifles used to kill 20 children and six adults in Newtown, Connecticut. “It is apparent that the Sandy Hook tragedy was a watershed event that has raised the national debate on gun control to an unprecedented level,”  Cerberus Capital Management  said in a statement. One of the many investors in Cerberus is the California State Teacher’s Retirement System, which is incredibly ironic. CalSTRS, te group that manages the pensions of California public schoolteachers, said that it’s going to review its investments as well to ensure that they are consistent with the interests of clients that they represent.  Let us answer this for you:  ”No, it’s not.” “Now that a tragic event like this has occurred, I’m sure that it is something that we will be discussing going forward,” CalSTRS spokesman Ricardo Duran said in Fortune Magazine. Publicly traded shares in companies that make guns, such as Smith & Wesson, plummeted this week with the expectation that stricter gun controls will be put in place after the recent tragedy.  It’s about time.  

Major Investment Companies Pull Money Out of Gun Makers After Sandy Hook Tragedy

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It appears that perhaps the recent massacre at Sandy Hook Elementary School is going to be enough to get companies to start thinking about the products they put on the market.  Well, at least when it comes to guns.  Private Equity firm Cerberus has stopped investing in firearms maker Freedom Group after the killings that took place last week.

One of the holdings of Freedom Group is Bushmaster, the company that makes the rifles used to kill 20 children and six adults in Newtown, Connecticut.

“It is apparent that the Sandy Hook tragedy was a watershed event that has raised the national debate on gun control to an unprecedented level,” Cerberus Capital Management said in a statement.

Read Original Article At Techyville


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