Investors scale back on gun industry support

The Connecticut school shooting has opened investors’ eyes about ethical investing, reports The Globe and Mail.

Columnist David Berman recently stated he’d never invest in gun-related stocks again, though he used to only care if companies were abiding by the law. He now pays attention to the gap between the laws he’d like to see and the laws as they exist today.

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And he’s not the only one who’s against supporting the gun industry, as many have dropped gun stocks since the tragedy and caused companies like Smith and Wesson holding Corp. to depreciate. Read more.

Private equity group Cerberus Capital Management is also selling its stake in the Freedom Group—the company that manufactures Bushmaster rifles, which was the type used by the shooter.

Financial Times says it bowed to public pressure and the change in the national opinion of guns.

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It adds the change in the pace of fiscal talks has also been linked Americans’ need for conciliation, with John Boehner saying it’s crucial to relieve stress across the country.

Read: U.S. officials closer to cliff deal

Since negotiations are still continuing, Boehner’s even came up with a so-called Plan B, aimed at letting GOP lawmakers vote to prevent New Year’s Day tax boosts on more than 99% of taxpayers.

It received a cool reception from conservatives, however, and Senate Majority Leader Harry Reid declared it dead in his chamber even if it could pass the GOP-run House.

After a day of manoeuvring, there was still no easy bipartisan pathway to heading off the coming tax increases and spending cuts. But have no fear, as Boehner and Obama have come tantalizingly close to finding a solution.

They’re working on a combination of revenue increases and budget savings that could slice around $2 trillion from projected federal deficits over the coming decade.

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