As reported by the Sacramento Bee:
Thank you for reading this post, don't forget to subscribe!When a gunman slaughtered 26 children and adults at a Connecticut elementary school, California’s teacher pension fund responded with a forceful denunciation of gun violence and said it was rethinking its investment in the company that manufactured the firearm used in the shooting.
Two years later, the investment remains intact, and some of CalSTRS’ chief constituents – schoolteachers – are losing patience.
The California Federation of Teachers plans a protest outside a CalSTRS board meeting in West Sacramento on Thursday, demanding the pension fund follow through on its pledge to unload its investment in Cerberus Capital Management, the private equity firm that owns gun manufacturer Freedom Group.
Note to CFT: When you divest yourself of the income stream from a profitable company, don’t come whining to the taxpayer to support your bad pension decisions. Your problems are not our problem.