A Bay Area resident says Vanguard manages the 401k profiles of many major Silicon Valley tech companies
Press Release – Bay Area resident Andrea Buffa has started a Care2 petition urging Vanguard to disinvest from gun manufacturing companies. The petition, which Buffa started after finding out her 401k manager is invested in firearms manufacturers American Outdoor Brands and Sturm Ruger & Company, has gathered over 4,000 signatures.
VIEW THE CARE2 PETITION HERE: http://www.care2.com/go/z/Vanguard
“I was inspired to start the Care2 petition by the students who survived the Parkland shooting,” Buffa told Care2. “They’re not taking no for an answer from our political leaders who are saying that there’s nothing they can do to prevent people from buying semi-automatic rifles, so I’m not going to take no for an answer either. I felt like this was something I could do to get behind their efforts.”
“I have a 401K that’s managed by Vanguard, and after a previous mass shooting, I remembered reading that Vanguard was a top investor in gun manufacturing companies,” Buffa siad. “So this time, I decided to do some research and I was shocked by how many Bay Area companies — basically a “who’s who” of top Bay Area companies — use Vanguard.”
Buffa says Vanguard manages the 401K funds of Kaiser Permanente, Twitter, Google, Facebook, Clorox, Autodesk, and many other Bay Area companies.
“I’m really sickened that my retirement savings could be used to invest in gun manufacturers,” said Jodi Levin, who works at a San Francisco-based tech company that employs Vanguard to manage investment funds. “Something must be done, and soon, and I’m done waiting for politicians to lead. We need to send a message that our children are more important than semi-automatic rifles. I was really heartened by the actions taken by Dick’s Sporting Goods, which proved there is a place for conscientious businesses to step into the space left empty by our political leaders.”
A separate Care2 petition is asking sports retailer Cabela’s to stop selling assault-style weapons after Dick’s Sporting Goods said it would stop sales of the products. Another Care2 petition asks Walmart to raise the minimum age for gun purchases to 21, and another is asking REI to drop Vista products, due to the fact that company sells guns and ammunition.
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