Jul
14
New York City Pension Fund to Divest Itself of Gun Retailer Stock
By
A customer and salesman look over a Remington shotgun at Cabela’s in Scarborough, Me.CreditGretchen Ertl for The New York Times
New York City’s employee pension fund will sell all its holdings of three American retailers because they sell guns, and will continue to press ahead in its efforts to get Walmart and a division of the supermarket chain Kroger to remove guns from their store shelves.
The $59 billion New York City Employees’ Retirement System voted to divest itself of the shares on Thursday at its board of trustees meeting. The fund is selling shares in Dick’s Sporting Goods, Cabela’s and Big 5 Sporting Goods. The holdings, worth $10.5 million as of mid-June, are about 0.02 percent of the pension’s portfolio, according to a letter to the board of trustees from the city’s public advocate that was reviewed by The New York Times…
New York City Pension Fund to Divest Itself of Gun Retailer Stock
