* Press release…
Chris Kennedy, Democratic candidate for governor, called on the state of Illinois to divest from gun and weapon companies today during a news conference outside the James R. Thompson Center.
“Just like a budget is a reflection of an organization’s values, so too is an investment portfolio a reflection of an organization’s morality,” said Kennedy, who was joined by his running mate, Ra Joy. “Investing in gun manufacturers makes the companies more profitable because it drives down their cost of capital making easier for them to make money.
“Our government should not be using one hand to stem the flow of guns into our communities and, at the same time, using the other hand to subsidize the gun businesses by investing in them.”
Kennedy also highlighted the fact that State Sen. Daniel Biss benefits from these pension investments as a member of the Illinois General Assembly.
“Once again, Biss claims this is the moral issue of the day, yet finds a way to flip flop and benefit from being on opposing sides,” Kennedy said. “For Biss, what sets the issue of gun investments apart from earlier issues like pensions is that with the gun issue: there is no separation of time. Biss is on both side simultaneously.
“He speaks about the horrors of guns and benefits from investments in them at the same time.
“Biss has been in Springfield seven years and has done way too little to be a responsible steward of his investments or the investments of the people of the state.”
Sturm, Ruger & Co. and Vista Outdoor are among the gun and weapon companies the companies that the state of Illinois invests in.
* The Question: Your thoughts on this idea?
…Adding… Biss’ campaign calls the premise of the Kennedy press release “absurd” and points to the candidate’s long record on gun control.
They add that Biss called for pension investment divestiture from “dirty energy” companies in January and Kennedy remained silent, perhaps, they suggest, because Kennedy invests in some of those companies.
…Adding… Kennedy campaign…
Chris did divest last year as soon as he learned his index funds included those investments.