Gun owners: the new apartheid


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Bubba613
December 26, 2012, 12:02 AM
OK, it isn't that bad. Yet. Here might be the most idiotic article (and competiton in the category is keen) on "gun violence." Apparently making funds dump gun makers' stocks will somehow reduce gun violence. I suggested that they might as well dump stocks of Nike and other sneaker makers.
http://www.forbes.com/sites/kensilverstein/2012/12/25/sullivan-principles-corporations-must-contribute-to-the-culture-of-peace-and-help-end-gun-violence/?partner=yahootix

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berettaprofessor
December 26, 2012, 12:54 PM
The sad part about thoughts like this (dumping gun company stocks) is that once the company has sold stock through an offering, it really doesn't care what the current price is...the money has been raised and spent. The stockholders care, and have representatives on the board of directors, but the only people making money are the stockholders and the only people hurt if the stock crashes are the stockholders. The company doesn't care unless it owns it's own stock.

Surculus
December 26, 2012, 01:12 PM
The sad part about thoughts like this (dumping gun company stocks) is that once the company has sold stock through an offering, it really doesn't care what the current price is...the money has been raised and spent. The stockholders care, and have representatives on the board of directors, but the only people making money are the stockholders and the only people hurt if the stock crashes are the stockholders. The company doesn't care unless it owns it's own stock.
Not entirely true. There are listing requirements to meet, so for instance, if the share price never rises above $10/share in (I forget how many weeks), the stock will get de-listed from the NYSE. So within certain parameters, the company does care about the stock price. That said, when all the progressive funds started selling their shares of Big Tobacco, it just made it feasible for bottom traders like me, who despise the product but realize people don't change, to buy in & benefit from other peoples offensive habits. :D

P5 Guy
December 26, 2012, 04:20 PM
I wonder what the ratio of gun sales is, Commercial/Civilian Sales to Sales to Government Agencies? Did the past five years skew the ratio? Are the fund buyers willing to (no pun) shoot their investors in the foot over this?

wojownik
December 26, 2012, 05:06 PM
Um, if such a thing were done, as an orchestrated effort, could that not be seen as a violation of the Security Exchange Act (section 9(a)(3) under "PROHIBITION AGAINST MANIPULATION OF SECURITY PRICES". :scrutiny:

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