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Supervisor John Avalos wants San Francisco funds tied up in oil, gun firms redirected

February 7, 2013

By: Chris Roberts : excerpt

A Board of Supervisors member wants to end San Francisco’s financial stake in the company that made the weapon used in the Newtown, Conn., massacre as well as investments with fossil fuel companies.

Among the companies and funds into which the San Francisco Employees’ Retirement System invests its $15.4 billion pension plan is Cerberus Capital Management, a part owner of Bushmaster assault rifle manufacturer Freedom Group. A Bushmaster rifle was used to kill 20 students and six teachers at Sandy Hook Elementary School. San Francisco also invests in a still-unknown number of polluting fossil fuel companies, according to Supervisor John Avalos.
The supervisor introduced legislation Tuesday that could lead to The City divesting from fossil fuel companies as well as weapons manufacturers.
Rather than fund ventures that lead to pollution or violence, The City should invest with companies that “share our 
values,” Avalos said…  (more)

Do the Supervisor’s concerns re: investments, carry through to human rights issues? If they do, he may want to investigate SERCO, the mega-multi-national that implements the city’s restrictive parking policies. You have seen their employees  sucking the data out of the smart meters. (At least that’s what they appear to be doing. For all I know they are changing the rates and time limits.)  Ask the citizens of Chicago how SERCO treats them. SERCO is suing Chicago for lower than promised revenues. Hopefully SFMTA examined Chicago’s deal before signing the contract with them. Anyone know what percentage of the parking and ticket take actually goes into Muni operating funds vs what we pay SERCO to enforce that restrictive parking policies?

2 Comments leave one →
  1. February 7, 2013 1:34 pm

    Reblogged this on Meter Madness.


  2. sfparkripoff permalink
    February 7, 2013 2:00 pm

    Supervisor Avalos please elaborate. Exactly what are “our values”?

    I remember when politicians were responsible for picking up the garbage, filling the potholes and paving the streets. Some where between banning Happy Meals and Plastic bags you allowed the city to turn into a playground for the rich. The City of San Francisco has more:

    1. 8000 city employees who earn over 100,000 a year
    2. 4 Billion owed in unfunded public worker pensions
    3. A public transit system that runs slower that it did 100 years ago
    4. Parking Meters that charge up to 18.00 an hour
    5. Public Transit policies that are being created by radical rich bicycle kids.
    6. 1.6 Billion Dollar Central Subway that the city cant afford to build
    7. etc
    8. etc

    You have a responsibility to get your own house in order before you start trying to take on gun makers and oil companies. The city of San Francisco has turned into a long winded bad joke, and you politicians are holding the microphone.


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