CalSTRS to pressure retailers to stop selling assault weapons banned by California

The L.A. Times reports:

California's teachers' retirement system will pressure retail companies it is invested in to stop selling firearms and parts that are outlawed by the state — and would consider divestment from firms that refuse to make changes, a key panel decided Wednesday.

The vote by the Investment Committee for the California State Teachers' Retirement System was supported by panel member and state Treasurer John Chiang even though he had asked in October that the system take more immediate action to stop investing in the gun retailers.


"If Congress and state houses are either unwilling or unable to pass sensible policies to stop our schoolyards, work sites and places of worship from becoming killing fields then let's take the battle to where the money is," Chiang, a candidate for governor, told the Investment Committee before the unanimous vote to adopt the engagement policy.

California bans the sale of assault weapons, which are any semiautomatic, centerfire rifle or semiautomatic pistol that lacks a fixed ammunition magazine and has any of a number of parts that include a telescoping stock. The ban includes AK-47s and other military-style rifles.

Public pension funds shouldn't be allowed any voting rights in corporate governance...