Politics

Your Gun Boycott Misses the Target


There is much anger regarding the murder of the 17 children recently. Rightfully so. As a result, children and adults have gathered together to boycott businesses working with the National Rifle Association (NRA). But the boycott strategy is missing the single most important component that could lead to a reduction of firearms in America. Put aside the political rhetoric about gun ownership and focus on the fundamental truth – it’s all driven by money.

Money is the nexus to the NRA and to the gun manufacturers. Without money, the NRA ceases to exist and the gun makers stop making guns. Simple, quick and effective. So, rather than boycotting those selling the guns and the NRA, how about going after the money?

In June 2015, Colt Defense, a maker of guns filed for bankruptcy protection. This was the second bankruptcy for the company. In 1992, Colt filed its first bankruptcy. Colt has been making guns since the 1840’s and is an American icon. It makes the AR-15 assault rifle that many of you are opposed to. According to Colt management and financial analysts, Colt, unlike its competitors relied too much on government contracts and thus it could not survive cutbacks in military expenditures. To survive, Colt needed to augment its consumer products, i.e. sell AR-15s and other guns directly to consumers.

Earlier this month, Remington announced it was filing for bankruptcy. According to its February 17, 2018 announcement, Remington’s largest bank creditors are Bank of America, JP Morgan and Wells Fargo & Co. Remington’s creditors are likely to cease control of the company and hope to settle the bankruptcy within 45 days. The creditors-turned-owners are looking for a quick exit strategy because of the Florida school massacre.

A year after filing its bankruptcy, Colt emerged from bankruptcy about $184 million less in debt and about $50 million more in new financing. If Remington’s bankruptcy plans work out, it will soon emerge from bankruptcy with some of its debt load reduced by the court action.

It’s the financing that would end gun proliferation today and it is the item all of you should be targeting. Without loans, the guns can’t be made.

When Colt filed for bankruptcy protection, it listed Bank of America and JP Morgan Chase among its almost 3,000 creditors, according to the 69-page Creditor Matrix (15-11296-LSS) filed by the company on June 15, 2015. Likewise, Remington lists Bank of America, JP Morgan and Wells Fargo among its bank creditors.

It’s these loans that keep the gun makers in business. Without the loans, the number of guns manufactured in America would drastically be reduced.

Guess who else is a creditor for Colt? The National Rifles Association is listed under various NRA programs. It is too early to see a full list of Remington creditors, but it is likely that the NRA is listed among its creditors. Regardless, the money, especially operating loans, is central to ending the proliferation of guns in America.

If you really want to end gun proliferation then target the underlining problem; the loans given to gun manufacturers by Bank of America, Chase and Wells Fargo, among other banks.

Categories: Politics

Tagged as: ,

3 replies »

  1. Martin
    The is the lunacy of the left! So it’s the NRA fault on the last mass shooting that locale authorities had at least 40 chances to stop this idiot Cruz. FBI we now know had 2 chances, Oh an a officer who watch as Cruz walked into the school and did nothing! In addition 4 officers who could of stopped the slaughter but stayed out side.
    The failure isn’t the NRA fault! It isn’t the lack gun laws, we have 22,000+ guns laws on the books it is an enforcement issue and the failure of politicians from both parties to fund the manpower to enforce the 22,000+ gun laws we already have!
    It’s not just funding for Police officers it the manpower needed to check applications to buy guns and gun licenses and what the applications have on them is true and correct. It’s the manpower to follow up on reports of people being violent and having guns! It’s the manpower need to follow up on researching those who are being violent and have guns to see if there is passed history to investigate and get the court to restrain them and take away their guns.
    Time and time again, after the fact, we learn there was clearly signs and red flags that there was a problem with these shooters and people in some position of authority at some level knew and nothing was done!
    Here is a fact there is over four hundred million guns in America. The vast majority of the those who own guns are responsible gun owners. Fact most people killed by firearms are not killed by rifles or shotguns. In fact more than double the number of people are killed by knife and being hacked to death than are killed by rifles or shotguns. Fact sixty percent of the death from firearms are suicide! So if you want to scream there is a gun crisis clearly there is a far greater
    mental health crisis danger. If you look at all the number of those killed by guns the majority are cause by the crazies and the thugs. Oh no let’s to put the blame where it belongs and let’s blame the responsible gun owners!
    Last the crazies, thugs and fools do not give a rat’s ass about gun laws or any other kind of laws then again to stop them you have to have the manpower to enforce the laws to stop them otherwise one more gun law does mean poop!

    Like

  2. Money is always the bottom line and well-organized boycotts do work.

    Maybe this time the non-terrorist terrorist picked the wrong group to attack. He went for those children that are at the verge of adulthood; they’re very vocal and masters of the social media. They are the generation most adept at using social media to organize and connect universally almost instantly. They weren’t quiet about telling the pols what to do with their prayers.

    Those businesses that disassociated from the NRA weighed the odds. These children will be running the show soon, voting, purchasing, legislating etc.

    This new generation is taking the bull-by-the-horns. We are the generation unable or unwilling to protect children.

    Time will tell.

    On a different note, the God-fearing, gun-toting, misogynist of the South, (Roy Moore) is asking for financial aid, seems he’s in some sort of scrape. Maybe the NRA will help him because God’s away on business.

    Like

Don't hold back, you know you want to comment, go for it!

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s