美国国家公共电台 NPR Pension Funds Under Pressure To Sell Off Investments In Gun-Makers

 

ARI SHAPIRO, HOST:

Many teachers across the country are calling on their state pension funds to sell their stakes in gun manufacturers. The teachers say they don't want their retirement¹ money invested in these companies. But many people, including those sympathetic to the cause, doubt that divestment will bring about the policy changes activists³ seek. NPR's Yuki Noguchi explains.

YUKI NOGUCHI, BYLINE⁴: Many state pension funds investing on behalf of public employees and teachers own shares in firearms makers⁵. They do so primarily because those stocks are included in index funds that pensions invest in.

California Treasurer⁶ John Chiang wants that to change. He sits on the boards of his state's two largest pension funds, CalPERS for public employees and CalSTRS for teachers. He's urging pensions across the country to sell off their investments in gunmakers and gun retailers⁷.

JOHN CHIANG: We could make a clear and powerful signal that the action by Congress is heartless. It's imponderable, and there are people who want to make sure that kids aren't losing their lives.

NOGUCHI: In 2015, following another school mass shooting, CalSTRS - California State Teachers' Retirement Fund (ph) - sold off its stake in publicly traded gun makers, including Sturm Ruger and American Outdoor Brands, formerly⁸ Smith and Wesson. Christopher Ailman is CalSTRS' chief investment officer.

CHRISTOPHER AILMAN: After the Sandy Hook disaster, our board took a look at particularly firearms and decided⁹ there were certain companies that made firearms that were already illegal in the state of California and felt that that regulation may expand and hurt those companies. And so we divested¹⁰ of them.

NOGUCHI: He says it was a financial decision, not a moral one. The fund surmised¹¹ gun manufacturers were not going to do well in the future, so it sold its shares. Over the decades, CalSTRS has divested from other industries, including tobacco and coal. In each instance, Ailman says it did so because it anticipated stricter regulation, which would hurt those companies' sales. It might be surprising, but in each case, the fund's decision to sell had zero impact on the target company's products or strategy.

AILMAN: We had to write them a letter and tell them we no longer own their stock and wouldn't in the future. And I can tell you, they don't care.

NOGUCHI: He says it's important for the public to understand selling shares is not a proxy¹² for policy change.

AILMAN: I care about many of these issues personally, very deeply and want to bring about social change, and I just am frustrated¹³ that activists are wasting their time focusing in on this as a mechanism¹⁴ when it's not effective.

NOGUCHI: Avery Gardiner, co-president of the Brady Campaign to Prevent Gun Violence, argues boycotts¹⁶ are probably more effective at exerting economic pressure. She says the #BoycottNRA campaign is a start but thinks it should include a broad consumer boycott¹⁵ of retailers that have lax policies on gun sales.

AVERY GARDINER: If Big 5 or Camping World or DICK'S Sporting Goods won't adopt sensible practices related to selling guns, then people shouldn't buy their soccer cleats and footballs and other equipment at those stores either.

NOGUCHI: That would affect those companies' profitability, she says, whereas investors¹⁷ who sell off their shares simply lose their rights as shareholders¹⁹.

GARDINER: One of those rights is to get information about the company. Another is to attend an annual meeting and vote for the directors. Shareholders can introduce shareholder¹⁸ resolutions. They can inspect the books and records of companies. So those are rights that investors might forgo²⁰ if they decided to divest² out of gun companies.

NOGUCHI: And so far, few pensions are doing so, says Alex Brown, research manager for the National Association of State Retirement Administrators²¹.

ALEX BROWN: The markets today are global. And generally, for every seller, there's a willing buyer.

NOGUCHI: Yuki Noguchi, NPR News, Washington.

(SOUNDBITE OF SOUNUT'S "GRADUATION")

1 retirement   

n.退休，退职

参考例句：

• She wanted to enjoy her retirement without being beset by financial worries.她想享受退休生活而不必为金钱担忧。
• I have to put everything away for my retirement.我必须把一切都积蓄起来以便退休后用。

2 divest   

v.脱去，剥除

参考例句：

• I cannot divest myself of the idea.我无法消除那个念头。
• He attempted to divest himself of all responsibilities for the decision.他力图摆脱掉作出该项决定的一切责任。

3 activists   

n.（政治活动的）积极分子，活动家( activist的名词复数 )

参考例句：

• His research work was attacked by animal rights activists . 他的研究受到了动物权益维护者的抨击。
• Party activists with lower middle class pedigrees are numerous. 党的激进分子中有很多出身于中产阶级下层。 来自《简明英汉词典》

4 byline   

n.署名；v.署名

参考例句：

• His byline was absent as well.他的署名也不见了。
• We wish to thank the author of this article which carries no byline.我们要感谢这篇文章的那位没有署名的作者。

5 makers   

n.制造者，制造商（maker的复数形式）

参考例句：

• The makers of the product assured us that there had been no sacrifice of quality. 这一产品的制造商向我们保证说他们没有牺牲质量。
• The makers are about to launch out a new product. 制造商们马上要生产一种新产品。 来自《简明英汉词典》

6 treasurer   

n.司库，财务主管

参考例句：

• Mr. Smith was succeeded by Mrs.Jones as treasurer.琼斯夫人继史密斯先生任会计。
• The treasurer was arrested for trying to manipulate the company's financial records.财务主管由于试图窜改公司财政帐目而被拘留。

7 retailers   

零售商，零售店( retailer的名词复数 )

参考例句：

• High street retailers reported a marked increase in sales before Christmas. 商业街的零售商报告说圣诞节前销售量显著提高。
• Retailers have a statutory duty to provide goods suitable for their purpose. 零售商有为他们提供符合要求的货品的法定义务。

8 formerly   

adv.从前，以前

参考例句：

• We now enjoy these comforts of which formerly we had only heard.我们现在享受到了过去只是听说过的那些舒适条件。
• This boat was formerly used on the rivers of China.这船从前航行在中国内河里。

9 decided   

adj.决定了的，坚决的；明显的，明确的

参考例句：

• This gave them a decided advantage over their opponents.这使他们比对手具有明显的优势。
• There is a decided difference between British and Chinese way of greeting.英国人和中国人打招呼的方式有很明显的区别。

10 divested   

v.剥夺( divest的过去式和过去分词 )；脱去（衣服）；2。从…取去…；1。（给某人）脱衣服

参考例句：

• He divested himself of his jacket. 他脱去了短上衣。
• He swiftly divested himself of his clothes. 他迅速脱掉衣服。 来自《简明英汉词典》

11 surmised   

v.臆测，推断( surmise的过去式和过去分词 )；揣测；猜想

参考例句：

• From the looks on their faces, I surmised that they had had an argument. 看他们的脸色，我猜想他们之间发生了争执。
• From his letter I surmised that he was unhappy. 我从他的信中推测他并不快乐。 来自《简明英汉词典》

12 proxy   

n.代理权，代表权；（对代理人的）委托书；代理人

参考例句：

• You may appoint a proxy to vote for you.你可以委托他人代你投票。
• We enclose a form of proxy for use at the Annual General Meeting.我们附上委任年度大会代表的表格。

13 frustrated   

adj.挫败的，失意的，泄气的v.使不成功( frustrate的过去式和过去分词 )；挫败；使受挫折；令人沮丧

参考例句：

• It's very easy to get frustrated in this job. 这个工作很容易令人懊恼。
• The bad weather frustrated all our hopes of going out. 恶劣的天气破坏了我们出行的愿望。 来自《简明英汉词典》

14 mechanism   

n.机械装置；机构，结构

参考例句：

• The bones and muscles are parts of the mechanism of the body.骨骼和肌肉是人体的组成部件。
• The mechanism of the machine is very complicated.这台机器的结构是非常复杂的。

15 boycott   

n./v.(联合)抵制，拒绝参与

参考例句：

• We put the production under a boycott.我们联合抵制该商品。
• The boycott lasts a year until the Victoria board permitsreturn.这个抗争持续了一年直到维多利亚教育局妥协为止。

16 boycotts   

（对某事物的）抵制( boycott的名词复数 )

参考例句：

• Their methods included boycotts and court action, supplemented by'sit-ins". 他们的主要方法包括联合抵制、法庭起诉，还附带进行静坐抗议。
• Are boycotts for other purposes illegal? 至于用于其它目的的联合抵制行动是否也是非法的呢？

17 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

18 shareholder   

n.股东，股票持有人

参考例句：

• The account department have prepare a financial statement for the shareholder.财务部为股东准备了一份财务报表。
• A shareholder may transfer his shares in accordance with the law.股东持有的股份可以依法转让。

19 shareholders   

n.股东( shareholder的名词复数 )

参考例句：

• The meeting was attended by 90% of shareholders. 90%的股东出席了会议。
• the company's fiduciary duty to its shareholders 公司对股东负有的受托责任

20 forgo   

v.放弃，抛弃

参考例句：

• Time to prepare was a luxuary he would have to forgo.因为时间不够，他不得不放弃做准备工作。
• She would willingly forgo a birthday treat if only her warring parents would declare a truce.只要她的父母停止争吵，她愿意放弃生日宴请。

21 administrators   

n.管理者( administrator的名词复数 )；有管理（或行政）才能的人；（由遗嘱检验法庭指定的）遗产管理人；奉派暂管主教教区的牧师

参考例句：

• He had administrators under him but took the crucial decisions himself. 他手下有管理人员，但重要的决策仍由他自己来做。 来自辞典例句
• Administrators have their own methods of social intercourse. 办行政的人有他们的社交方式。 来自汉英文学 - 围城