Oakland, With No Investment In Gun Companies, Looks To Keep It That Way

OAKLAND | It is virtually impossible to legally buy a gun Oakland, but that has not stopped them from becoming a scourge on the community. Next week, the Oakland City Council will take steps to avoid unwittingly aiding Big Guns’ immense Washington lobby.

The Finance and Management Committee Wednesday unanimously approved placing legislation on next Tuesday’s City Council agenda that prohibit city investment in firearms manufacturers.

The move follows a directive by State Treasurer Bill Lockyer last December asking various state agencies to divest themselves of interests in gun-producing companies. The call by Lockyer came in the aftermath of the Dec. 14 Newtown, Conn. shooting that killed 20 school children and 6 adults. The California Teachers Retirement System (CalSTRS) quickly moved to sell off interest in the private equity firm whose holdings include the gun manufacturer that produces the semi-automatic weapon used the by Newtown shooter.

Oakland and the Port, however, do not currently have any financial interests in firearms manufacturers, according to the city treasurer’s office. In fact, with talk of gun violence percolating around just about every discussion within Oakland, it seems city leaders want nothing to do with gun makers.

“Oakland has no gun stores and Oakland has no gun manufacturers,” said Councilmember Rebecca Kaplan during Wednesday’s committee meeting. “That means every single gun used to commit a crime in Oakland came from outside of Oakland.”

Kaplan says financially aiding gun manufacturers is counterproductive to the city’s goal of safer streets. “If we put our money into gun manufacturers, we are paying for the money that is used to pressure Congress to do things that cause death in Oakland,” added Kaplan, specifically allowing gun sales in other parts of the country without background checks.

The legislation, sponsored by Oakland City Attorney Barbara Parker and Councilmembers Larry Reid and Kaplan also encourages the Oakland Police and Fire Retirement System (PFRS) and its $470 million to follow the city’s lead, along with the much smaller Oakland Municipal Retirement System Board and its $4.4 million fund.

4 thoughts on “Oakland, With No Investment In Gun Companies, Looks To Keep It That Way

  1. By MW:

    If the the residents of the East Bay, and including Oakland, ever decide they want to make a serious effort to cause a major decrease in violent crime, shootings, and murders, then they should stop investing in, in other words voting for, the types of politicians who are nothing but charlatans and demagogues.


  2. What a pathetic “wall-paper” move to do something about the gun violence in Oakland.
    This move, like all their other silly ones, will do NOTHING at all to curb the problem.

    Sorry, but Larry Reid ran out of ideas about 8 years ago.
    Kaplan, best known for being anti-police.
    Isn't there one creative mind on the entire city council, or in the 5,000 city employees?

    Please don't waste council time with such meaningless proposals. Better to go out on the street and pick up a few pieces of litter during the same time.
    And think of all the staff time involved in writing up this proposal and then in the various departments and boards implementing it.

    All those folks, highly paid, wasting their time on some “show-case” PR effort that won't cut the homicide rate by one young victim.


  3. I think the City of Oakland should take an inventory of all guns owned by Oakland city officials and Oakland city employees and have them confiscated. I don't want any of those guns coming into my community and presenting a risk.


  4. So where do they invest their money? Do they invest it in anything related to drugs or alcohol? What about tobacco or any companies that sell ingredients used to make meth? Maybe they should invest in the medical marijuana trade. So many opportunities so little time.


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