Guns…they’re a good investment, and CalPERS knows it.
According to the Sacramento Bee, the CalPERS Board of Administration wants to continue its practice of using its clout as a $355 billion pension fund to compel changes in business practices…but NOT to stop selling firearms.
Its leaders believe pressure from CalPERS contributed to recent decisions by Dick’s Sporting Goods and Walmart to restrict gun sales.
“If we are divesting, we lose our seat the table,” said CalPERS board member Theresa Taylor.
Someone probably needs to tell Theresa that Walmart is worth about as much as CalPERS’ entire pension fund. They probably don’t care what the Board of Administration thinks.
At least the board rejected a request from Treasurer John Chiang to divest from national retailers that sell guns that are illegal in California. Everything is illegal in California.
Pensioners are grateful. Gun owners are grateful.