Powerhouse investment firm BlackRock is turning up the pressure on gun makers.
The company, which manages trillions for other investors, said Friday that the shooting in Parkland, Florida, has caused it to reexamine its holdings in both gun makers and gun retailers.
Related: Gun sales plunge for Smith & Wesson owner
In a statement Friday, BlackRock said it will start offering clients the option to invest in funds that exclude firearm manufacturers and retailers. It also said it will more actively engage with gun manufacturers, and in some instances vote against the wishes of company management.
"For manufacturers and retailers of civilian firearms, we believe that responsible policies and practices are critical to their long-term prospects. Now more so than ever," said BlackRock.
It said it has already had "constructive discussions" with some of the companies. It plans to ask gun makers how they'll deal with the reputation and legal risks associated with manufacturing civilian firearms, and if they monitor whether their products are used in crimes.
BlackRock will ask retailers what proportion of their sales firearms and ammunition represent, and what steps they have taken to prevent the misuse of firearms that they sell.
Related: Sandy Hook families to Bass Pro Shops - Stop selling assault rifles
"This is an issue of tremendous urgency and we are bringing, and will continue to bring, a sense of urgency to our engagement efforts in this area," BlackRock said.
Spokespeople for the gun makers either did not respond to a request for comment or could not be reached on Friday.
Shares of the gun makers have been down between 5% and 20% since the Parkland, Florida shooting, although Sturm Rurger (RGR) and American Outdoor Brands (AOBC) were higher Friday.
-- CNN's Danielle Wiener-Bronner contributed to this report.
Poster Comment:
Big money, like the banksters in the Trump administration, pushing for "Gun Control".
Who'd a thunk it?
Onward, to the New World Order!
#1: buckeroo To: hondo68 (#0)
I guess the new logos for the USA economy by HUGE BANKERS is: FUCK Laissez Faire economics even when it is contradictory to US law UNDER the US Constitution.
buckeroo posted on 2018-03-03 16:33:45 Reply Private Reply
#2: Hondo68 To: buckeroo, Goldman Sachs Trump, Take the Guns (#1)
President Trump may prove to be a better gun salesman than Obama.
That one guy is carrying a basket that he's loading up.
Hondo68 posted on 2018-03-03 16:49:37 Reply Private Reply
#3: Gatlin To: hondo68 (#0)
Gatlin posted on 2018-03-03 17:12:59 Reply Private Reply
#4: Hondo68 To: Gatlin, *Bang List* (#3)
1776 will commence again, if you Trumpy Bear huggers try to take our guns!
Hondo68 posted on 2018-03-03 18:06:23 Reply Private Reply
#5: sneakypete To: hondo68 (#0)
Trump just lives inside your head 24/7,doesn't he?
And why not,there is obviously plenty of open space in there.
sneakypete posted on 2018-03-03 19:10:53 Reply Private Reply
#6: sneakypete To: buckeroo (#1)
Mostly their own. They own the banks,which means they will own the world if the One World Order ever becomes a reality.
As the "First of Equals in a world of Comrades",they obviously won't want the working trash to be able to own guns they might use to shoot bankers. The surest thing in the world is the FACT that neither they nor their bodyguards will ever be without ready access to firearms of all types. It's me and thee they don't want possessing guns.
sneakypete posted on 2018-03-03 19:14:18 Reply Private Reply
#7: Stoner To: hondo68 (#0)
Stoner posted on 2018-03-06 10:00:43 Reply Private Reply