A US private equity firm is selling off its stakes in the firearms company that made the AR-15 rifle that was used to shoot dead 20 children in a Connecticut primary school last week.

Cerberus Capital Management said on Tuesday it was preparing to sell off its investment in gunmaker Freedom Group following mounting pressure from California’s teachers’ pension funds.

They manage teachers’ pension funds, and teachers have expressed eagerness that their investment firm no longer use the $751 million they give the firm to do business with the Bushmaster boys.

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What’s gotten into the teachers? What is there about feathering their nests from the slaughter of other teachers that bothers them?

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And what about your university?

Profit should be the primary goal of their investment offices, but not at the expense of their broader purposes. If a schoolteachers union or university endowment or nonprofit foundation truly cares about stopping the next mass killing, then they should not provide capital that produces the instruments of such destruction.

Eliot Spitzer:

Every student at a university should ask the university if it is invested in Cerberus.

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People seem to be voting with their feet in other ways on guns, too.

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2 Responses to “Next: Disinvestment.”

  1. aek Says:

    Am I confused, or is Cerberus the outfit that purchased Steward Healthcare hospitals to run as for-profits all over MA?

  2. Margaret Soltan Says:

    Don’t know. I’ll check.

    If so, great synergy. One component of the fund wounds, the other heals.

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