Feb 24, 2018

We’re all gun owners, and here’s why

Illustration: Rebecca Zisser / Axios 

"For many Florida teachers, it’s an indignity on top of tragedy. Inside their retirement plans, they hold stock in the companies that make the AR-15 rifle," Reshma Kapadia writes in the "Streetwise" column of Barron's:

  • "The $163 billion Florida Retirement Pension Plan had a $4 million stake in gun manufacturers as of Dec. 31. Nearly half of that comes from a low-cost index fund that tracks the broad-based Russell 3000."
  • "Indexing giants Vanguard and BlackRock are the largest investors in the three major publicly traded gun makers. BlackRock owns 11% of American Outdoor Brands, formerly Smith & Wesson ... Together, BlackRock and Vanguard own 26% of Sturm Ruger, which makes semi-automatic rifles including the AR-15. And they’re the No. 2 and No. 3 owners, respectively, of Vista Outdoor."
  • Why it matters: "Investors combing through fund holdings could easily miss these positions. ... The gun makers may not matter to asset managers, but the reverse isn’t true. The fund giants help keep the stocks of gun makers afloat."
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41 mins ago - Sports

European soccer's push to return

A Bundesliga match between Borussia Dortmund and Bayern Munchen in an empty stadium. Photo: Alexandre Simoes/Borussia Dortmund via Getty Images

European soccer made a splash Thursday, with two of its biggest leagues announcing official return-to-play dates in June.

Why it matters: Soccer is the world's most popular sport, so watching its return through the lens of various leagues, countries and cultures — all of which have been uniquely impacted by the coronavirus pandemic — is illuminating.

The corporate bankruptcy wave has just gotten started

Illustration: Sarah Grillo/Axios

Even with trillions of dollars in loans, grants and government support — with markets having absorbed a record $1.22 trillion of corporate debt in just five months — a slew of companies are defaulting on their loans and filing for bankruptcy in what is expected to be a record wave of insolvencies and defaults.

Why it matters: While equity and debt markets have rallied thanks to massive interventions from the Federal Reserve and Congress and excitement about the removal of lockdown orders, the real economy is quietly buckling, with many companies threatened by issues that predate the coronavirus pandemic.

Updated 2 hours ago - Politics & Policy

CNN crew released after being arrested live on air while reporting on Minneapolis protests

CNN's Omar Jimenez and his crew were released after being arrested Friday by Minneapolis state police while reporting on the protests that followed the death of George Floyd, a black man who died in police custody in the city.

What happened: CNN anchors said Jimenez and his crew were arrested for not moving after being told to by police, though the live footage prior to their arrests clearly shows Jimenez talking calmly with police and offering to move wherever necessary.