Skip to comments.NJ lawmaker wants state to disinvest in gun firms
Posted on 12/21/2012 7:05:56 PM PST by Tailgunner Joe
TRENTON, N.J. (AP) A New Jersey state senator says the state should move investments from any company that makes or sells assault weapons.
Sen. Richard Codey told The Associated Press on Friday that the "only people who use assault weapons are mass murderers, drug dealers and cop killers."
His proposal comes in response to last week's shooting in Connecticut when a gunman killed 26 people at a school, including 20 children.
Codey said that he plans to introduce the measure next month.
The former governor, who took office because he was president of the state Senate after Gov. Jim McGreevey resigned, said weapons like the one used by that shooter have no lawful purpose for civilians.
New Jersey's pension funds are not currently invested directly in the firms that own any major gun or ammunition companies.
The state's pension investment fund did invest $125,000 in August in Olin Corp., which manufactures Winchester ammunition. But it sold the stocks two months later.
The state also has investments in a fund associated with Cerberus Capital Management. But the state's money is in a different entity from the part of Cerberus that owns gun-maker Freedom Group International. Cerberus has said it plans to disinvest its gun business.
(Excerpt) Read more at northjersey.com ...
Buy! Buy! Buy!
Divest, only NJ will lose in the long run. The slack will be picked up by other entities.
I would like all leftist states to offload their firearms to the citizens who were forced to pay for them. No gun toting statists. Why not propose that if you don’t like guns?
That would be brilliant.
The stock market has been artificially pumped up in part to support the payouts of pensions and benefits for government-sector unions.
The DJIA is a complete bubble.
But there are a few industries and a few corporations that are actually turning profits.
Among these are the firearms manufacturers.
And these stupid liberals, who promised more to the unions than can ever be paid, want to drop the stocks of those few companies that are actually profitable.
Liberals are so stupid that it is painful to watch them struggling to sound intelligent.
“only people who use assault weapons are mass murderers, drug dealers and cop killers.”
it will be a great time to buy gun stocks.
“Divest, only NJ will lose in the long run. The slack will be picked up by other entities.”
It’s the unions that will get hurt from this. And they haven’t a freaking clue that the Democrats are selling them out.
This would be a very good time to run ads telling the unions they were sold out.
NJ should invest its money in profitable entities like wind turbines and solar panel makers.
Another brilliant politician.
One of the very few industries that is going gang busters and making money. One of the few reliable growth markets. Let’s cut off our nose to spite our face.
Thank gawd these idiots do not manage our money. Oh wait!
“New Jersey’s pension funds are not currently invested directly in the firms that own any major gun or ammunition companies.”
Too bad, they would be doing pretty good right now. By the way, Mr.cody, I am not a drug dealer, mass murderer, or a cop killer, but I do enjoy range time with my AR15’s.
“A New Jersey state senator says the state should move investments from any company that makes or sells assault weapons.”
Perhaps all New Jersey governmental entities should also divest themselves of the products made & sold by “gun firms”.
Use the proceeds from the sales to make large, colorful, ecologically friendly signs to place at the NJ state line road crossings:
“Welcome to New Jersey! We (at least our law enforcement personnel) are a gun-free zone!”
“aggravated assault n. the crime of physically attacking another person which results in serious bodily harm and/or is made with a deadly or dangerous weapon such as a gun, knife, sword, ax or blunt instrument.”
“...any company that makes or sells assault weapons.”, senator? By the above definition, you will need to dump your stock in Ginsu knives, True Temper axes, Louisville Slugger baseball bats, and Callaway golf clubs. And we must not forget “Col. Mustard in the library with the lead pipe”.
There goes the plumbing supply industry.
That reminds me, I need to get more ammunition before the price goes up. Merry Christmas to all Second Amendment brothers and sisters!
I don’t mind them cutting off their own noses to spite their faces but couldn’t they aim a little lower?!
So, this guy just called every police department in the United States a gang of mass murderers. I’m sure his second action is to strip all law enforcement of these murder machines - right?
Oh, right, rules for you, rules for us, all equal, but some are always going to be more equal...
Cody is usually sticking his nose into mental health issues and preaching about better MH services, especially since his wife has suffered fom chronic depression - must be finding there are more votes in going after guns than in looking after the mentally ill......
Collapsible or folding?
Even among the assortment of freaks in both political parties in Trenton, Codey is a stand-out.