Private equity firm accepts letter asking it honor divestment pledge; work remains

NEW YORK – This morning, nearly a year after Cerberus Capital Management pledged to divest from assault weapons manufacturing, members of NYC faith communities gathered outside the international headquarters of the private equity firm on Third Avenue. After a short silent vigil and statements from faith leaders, representatives delivered a letter calling for Cerberus CEO Stephen Feinberg to honor his firm’s unfulfilled promise.

Carrying crosses, Stars of David and Islamic crescents representing those lost to gun violence since the 2012 school massacre at Newtown, Conn., vigil holders presented the letter to a Cerberus representative. The Campaign to Unload, a national coalition dedicated to assault weapon divestment, was the principal organizer.

“Investors in the gun industry are beginning to see these interests as toxic. This gathering was a reminder to gun investors like Cerberus that advocates for gun safety are not going away,” said Jennifer Fiore, executive director of the Campaign to Unload. “It’s been nearly a year and we’re just getting started.”

After the Newtown massacre, Feinberg promised Cerberus would immediately divest of its 94 percent stake in Freedom Group, the maker of the Bushmaster XM-15 assault rifle that was used in the attack. Nearly a year later, Cerberus remains invested in the gun manufacturer.

“This isn’t a right/left issue, it’s a right/wrong issue,” said James Salt, executive director of Catholics United, which helped organize today’s vigil. “Christians, Jews and Muslims are calling on Stephen Feinberg to examine his heart and realize he has the power to help end the cycle of needless bloodshed in America.”

After a silent vigil in front of the headquarters, representatives of the Campaign met with a Cerberus representative, who promised he would deliver the letter to CEO Stephen Feinberg.

“This is a small first step,” said Salt. “All we’re asking for is for Stephen to listen to his conscience. He’s made a promise, not just to us, but to the families who lost kids in Newtown. He has the power to make this right.”

View photos from the event:
https://www.catholics-united.org/files/cerberusvigil.JPG
"Members of the NYC faith community address the media in front of Cerberus Headquarters Monday morning."

https://www.catholics-united.org/files/cerberusletter.JPG
"Representatives of the Campaign to Unload deliver a letter to a Cerberus representative. The letter calls on Cerberus CEO Stephen Feinberg to honor the company’s pledge to divest from assault weapon manufacturing."

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Founded in 2004, Catholics United, and its educational arm, Catholics United Education Fund, are non-profit, non-partisan organizations dedicated to promoting the message of justice and the common good found at the heart of the Catholic Social Tradition.

For more information about Catholics United, “like” us on our Facebook page (www.facebook.com/CatholicsUnited), follow us on Twitter (www.twitter.com/CatholicsUnited) or on our blog at www.OurDailyThread.org.

The Campaign to Unload (www.unloadtheguns.com) is comprised of 50 advocacy organizations, which represent more than 20 million Americans from all walks of life, from across the country. Our goal is to promote the divestment of gun industry interests among institutional and individual investors.