Emanuel: Chicago pension funds should divest from gun makers

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Chicago Mayor Rahm Emanuel announced another step in his opposition to assault weapons Monday.

The Mayor is asking city pention and retirement fund managers to review their portfolios, to make sure fund managers are not investing in companies that manufacture or sell assault weapons from their investment plans.

“We cannot support or invest in companies that profit from the proliferation of assault weapons and the violence these guns bring to our communities,” Emanuel said.

The comments came as Chicago battles continued gun violence. Last year, homicides jumped 16 percent in Chicago to 506.

The Illinois General Assembly failed to pass an assault weapons ban in the recently concluded lame-duck session. Last month, a federal appeals court threw out the state’s decades-old ban on concealed carrying of a weapon in public.

The Chicago Tribune contributed to this report.

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1 Comment

  • MrCrabs

    They have yet to show any case where the rifles in question were used by gangs to shoot each other and bystanders. The real issue is social behavior. The class of people involved in violent crime has been expanded by the very policies of the mayor (past & present) and the city council. They are more interested in retaining power and the perks that come from it; not to mention the bloated salaries that come with those jobs. These are the same people who hire family members and campaign contributors. They make sure that contributors get no bid contracts with the city.