And here we go: Shareholder activism coming to the firearms business, thanks to the tragedy at Sandy Hook Elementary School.
Yesterday I noted on Twitter that Cerberus Capital Management, a private equity firm, was selling off the Freedom Group International firearms business it owns and that divestiture may be the New New Thing for shareholder activists tired of the gun lobby’s grip on this country. This morning, word comes from Boston that the state treasurer for Massachusetts will review his state’s pension fund investments in the firearms business. The treasurer, Steve Grossman, didn’t say he’ll support divestiture yet (Smith & Wesson in based in the western part of the state) but rest assured that the pressure will be there.
