Why Walmart is battling a church over gun sales

From CBS-

Walmart (WMT) is gearing up for a battle over gun sales with an influential New York parish.

Located in the heart of Manhattan's financial district, Trinity Wall Street is an Episcopal church where George Washington once worshiped and which became a symbol of New York's resilience after the Sept. 11 terrorist attacks. It now has a new mission: it wants Walmart to stop selling assault rifles with high-capacity magazines. Walmart, for its part, is arguing that the church's plan would interfere with its "ordinary business operations."

While selling guns with high-capacity magazines is controversial in its own right, the heart of the battle is over whether Trinity, as an investor in Walmart, has the right to place proposals about a company's day-to-day operations -- such as its inventory mix -- onto shareholder ballots. Given the rise of activist investors, who have in recent years pressured companies to ditch board members and spin off business units, an anti-Walmart precedent could add fuel to the movement.

More here-

http://www.cbsnews.com/news/why-walmarts-battling-a-church-over-gun-sales/