Emanuel’s weapon vs. guns: divestiture
The City of Chicago will take one small step to try to reduce the sales of assault weapons.
Mayor Rahm Emanuel plans to attend a gun violence forum at the University of Chicago Tuesday.
The mayor says he is directing the city’s financial officials to examine all of the investments by the city’s four big pension funds; money will be withdrawn from any investment in a company that makes or sells high-powered rifles.
Chicago’s city comptroller admits there may not be a lot of dollars involved; instead he says Emanuel hopes to inspire other local governments across the country to pull their money out of gun companies.
But there will be no shortage of private investors because gun sales are skyrocketing in response to the political push for gun control; many local gun shops are all but sold out because of a crush of new buyers.