As the fear of an impending semi-automatic rifle ban has lead to a leap in ammunition demand and has impacted the general public, the corresponding increased prices are also effecting law enforcement’s budgets as well. Orland Park’s Police Chief Tim McCarthy requested an early purchase of ammunition for “training” amounting to almost $10,000 in 38 cases of ammo from Ray O’Herron Co. in Lombard, IL.
Have you tried to purchase ammunition lately and suffered from sticker shock, or even empty shelves?
According to the Chicago Tribune, the Chicago Teachers’ Pension Fund is working to back out of its investments related to what it calls military-style rifles. The reported value of these investments varies (as does the casino known as the stock market fluctuates). The holdings are somewhere between $125,000 and $260,000 in Sturm Ruger & Co. and Smith & Wesson Holding Corp.
The Teachers’ Retirement System of Illinois recently made a similar move to exit about $77,000 in holdings.
The Chicago Teachers’ Pension Fund announced on Tuesday that it plans to dump its minimal investments in companies that make military-style semi-automatic rifles following the Sandy Hook school shooting, an effort that started before Mayor Rahm Emanuel called on city pension funds to divest from such companies.
But by the end of the day, fund officials were unclear how many companies they were targeting, illustrating the tricky nature of such measures.
About $260,000 of the fund’s $9.5 billion in assets, or 0.003 percent, is invested in three “assault weapon manufacturers,” the pension fund board said in a news release.
The Denial by the Chicago Police Department of David Lawson’s registration of the subject four SKS Rifles is REVERSED. The subject rifles are not prohibited under the Municipal Code of Chicago, 8-20-170, and therefore, registration certification shall issue accordingly. Pursuant to Section 2-14-102 of the Chicago Municipal Code, this decision is final and subject to review under the Illinois Administrative Review Act.
The chain of events began with David Lawson attempting to register five rifles and a shotgun. Four of the rifles are fixed-magazine SKS rifles. On November 2nd he was mailed a denial for registration.
The denial was based on the premise that the rifles could be modified to accept illegal magazines and did therefor did not meet Municipal Code of Chicago 8-20-170(d).
Congratulations to Mr. Lawson and his supports for this victory for law-abiding firearms owners in Chicago.