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  1. #1
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    Default The outcome of the Sturm Ruger's shareholder vote.

    There was a shareholders vote last week which many of them were backing activists resolutions to get Ruger to somehow take more responsibility for gun violence even though they aren't doing violence.

    It looks like a whole lot of nothing came out of it other then Ruger agreeing to track any illegal violence their products may have been used in and then provide a yearly report to the idiot share holders.

    Here is what they wanted and of course Everytown was throwing in their .02 where it doesn't belong.

    https://www.usatoday.com/story/money...nce/533650002/


    Amalgamated Bank pressures Sturm, Ruger to take steps to reduce gun violence



    Another U.S. bank is using its financial clout to pressure one of the nation’s firearms makers to take steps to reduce gun violence, be more socially responsible and distance itself from the National Rifle Association.

    Amalgamated Bank, a New York-bank with $48 billion in institutional investment assets that emphasizes socially responsible practices, sent a letter Thursday to Sturm, Ruger & Company’s board, demanding that it adopt six reforms or it would not support the re-election of one of the gun maker’s board members, Sandra Froman, who is also an NRA board member.

    The bank claims that Froman’s and the company’s "close relationship" to the NRA pose a conflict of interest that “may inhibit objective assessment and management risks Sturm, Ruger faces.”

    The demands came on the same day that The American Federation of Teachers informed Wells Fargo that it is dropping the bank as a recommended mortgage lender for the union’s 1.7 million members.

    The move came after Wells Fargo spurned the union's call to cut lending ties or impose new restrictions on firearms business partners following the Feb. 14 mass shooting at a high school in Parkland, Florida.

    In a letter to Sturm, Ruger’s board, Amalgamated’s CEO Keith Mestrich pressed the gun maker to commit to steps that address risks to its business and stock performance, which Mestrich claims has posted returns trailing the broad S&P 500 stock index over the past five years.

    On the policy front, for example, the bank called on the gun manufacturer to publicly endorse mandatory background checks for all gun purchases and support the full funding of the federal agency that enforces gun laws.

    Amalgamated’s top executive also wants Sturm, Ruger to take steps to monitor gun sellers to make sure guns don’t fall into the wrong hands and to emphasize “product safety innovation.”

    All six reforms are recommended by Everytown for Gun Safety, a non-profit group focused on curbing gun violence

    Some of the conditions for manufacturers under Everytown’s Code of Conduct:

    https://everytownresearch.org/docume...stitutions.pdf

    Reduce Lethality of Shootings
    For example:
    • Commit to cease manufacturing for retail sale
    o semi-automatic firearms that can accept High Capacity Magazines
    o semi-automatic rifles that are capable of firing centerfire ammunition
    o High Capacity Magazines
    Reduce Gun Trafficking & Help Law Enforcement Solve Crimes
    For example:
    • Commit to equipping/manufacturing all handguns and semi-automatic rifles with
    o microstamping or similar ballistics technology that can assist law
    enforcement in efforts to trace crime guns
    o tamper-proof serial numbers / serial number identifiers that are visible only
    with the aid of an infrared detector or other device
    o tracking sensors to allow the authorized user to find the location of a firearm,
    like the “find my phone” feature on many smartphones
    • Coordinate with federal law enforcement to track and compare dealer performance,
    and identify dealers with high rates of crime guns or poor audit records
    • Discontinue or suspend sales to Dealers/Distributors that sell a disproportionate
    number of firearms that are traced to crime scenes within three years after sale

    Here is what Ruger agreed too.

    https://www.npr.org/sections/thetwo-...ist-resolution


    CEO Chris Killoy told Solberg and others present that he will not be meeting with people (activists and anti gun nuts) individually.

    The proposal might not directly affect Ruger's business — but Killoy addressed it head-on as he began his portion of the annual meeting.The proposal requires Ruger to prepare a report. That's it. A report," Killoy said. The company will follow through on its obligation to produce that report, he said.

    "What the proposal does not, and cannot do, is to force us to change our business, which is lawful and constitutionally protected. What it does not do, and cannot do, is force us to adopt misguided principles created by groups who do not own guns, know nothing about our business, and frankly would rather see us out of business."
    The icing on the cake is they appear to be breaking ties with DSG and Field & Stream.

    After Dick's Sporting Goods recently said it would pull assault-style rifles and higher-capacity magazines from its shelves — and destroy them rather than return them to their makers — Ruger issued a statement saying, "[We] are disappointed by their recent actions," adding that Ruger firearms won't be in Dick's stores.

    I wonder how all the go ape 1st think later types in the gun community are going to react to this due to the long deceased Bill Rugers views back in 94?

    Lucky for us we don't have anyone here like that.


    (Yes I know it would be "EPIC" if the Ruger CEO just gave everyone in the room a big ole F YOU GOOD NIGHT! with a mic drop but that's just not how these things work in the big business world.)

    On a side not and as a practicing Christian I find it interesting that so many clergy are involved in this. For people who run so called non profit business that are completely tax exempt they apparently have a lot of money to invest in order to have a seat and a say at the table.
    Last edited by Hodgie; May 10th, 2018 at 09:22 PM.

  2. #2
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    Default Re: The outcome of the Sturm Ruger's shareholder vote.

    dude... depending on your level, religion has always had a big hand in the till, whether it be money or influence (the latter can be worth far more than any stack of cash, although potentially not as liquid.)
    Member: NJ "undocumented" Felons Club. NRA Life Member

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    Default Re: The outcome of the Sturm Ruger's shareholder vote.

    On a side not and as a practicing Christian I find it interesting that so many clergy are involved in this. For people who run so called non profit business that are completely tax exempt they apparently have a lot of money to invest in order to have a seat and a say at the table.
    Liberal dogma has been infesting churches for quite some time.
    Rules are written in the stone,
    Break the rules and you get no bones,
    all you get is ridicule, laughter,
    and a trip to the house of pain.

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    Default Re: The outcome of the Sturm Ruger's shareholder vote.

    The god business is very profitable, and tax free.

  5. #5
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    Default Re: The outcome of the Sturm Ruger's shareholder vote.

    What the proposal does not, and cannot do, is to force us to change our business, which is lawful and constitutionally protected. What it does not do, and cannot do, is force us to adopt misguided principles created by groups who do not own guns, know nothing about our business, and frankly would rather see us out of business."
    Not a mic drop but pretty good for a corporate executive.

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    Default Re: The outcome of the Sturm Ruger's shareholder vote.

    This is how crypto currency will get big. Screw the banks, they want need them.

  7. #7
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    Default Re: The outcome of the Sturm Ruger's shareholder vote.

    I remember the concept of Hostile Takeovers in the 80's. People made money by buying struggling companies outright or from secret buys on the inside to get controlling shares and then voting to sell. Of course, they sold to a company they held or worked with/for (or themselves if they were rich enough) and made money dismantling the parts and selling them off or selling to the employees.

    Is this the next stage plan for liberals and liberal billionaires or bankers who wish to control the masses? It will take a few years but I foresee a future where gun manufacturers are suddenly bought out or destroyed from the inside out. I also wonder which banks have a lot of foreign investors or board members? Surely an American board member would less likely to crush "the American way".
    It is you. You have all the weapons that you need. Now fight. --Sucker Punch

  8. #8
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    Default Re: The outcome of the Sturm Ruger's shareholder vote.

    Ruger has worked hard over the last couple decades to acquire its current reputation.
    Some interesting facts about this story though. From posted article: "Amalgamated Bank, which owns an estimated 7,500 shares in Sturm, Ruger.." I read that and at first glance it sounded like quite a bit.
    However a quick search shows from the most recently filed quarter report there are 17.44M shares of Ruger out there.
    Think Ruger is being gracious to even acknowledge them.
    It ain't what they call you, it's what you answer to.

  9. #9
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    Default Re: The outcome of the Sturm Ruger's shareholder vote.

    Quote Originally Posted by streaker69 View Post
    Liberal dogma has been infesting churches for quite some time.
    Absolutely.

    Here's the kicker - the more infested the Church becomes, the more its membership declines.

    There is a reason that Fundamentalists are growing in attendance in the US - they don't preach the Social Gospel.

  10. #10
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    Default Re: The outcome of the Sturm Ruger's shareholder vote.

    Quote Originally Posted by Hodgie View Post
    I wonder how all the go ape 1st think later types in the gun community are going to react to this due to the long deceased Bill Rugers views back in 94?
    That was before Bill Clinton and Andrew Cuomo (who was head of the HHS) blackmailed Smith and Wesson into agreeing to "gun control". This is the same Andrew Cuomo who let Bloomberg lobbyists write New York Legislation in the "SAFE Act" under a phony emergency act provision.

    The S&W boycott bankrupted them. I think Ruger and other Manufacturers got the message.


    Quote Originally Posted by Hodgie View Post
    (Yes I know it would be "EPIC" if the Ruger CEO just gave everyone in the room a big ole F YOU GOOD NIGHT! with a mic drop but that's just not how these things work in the big business world.)

    He said as much without offending anyone who didn't deserve to be offended.

    Time to buy another Ruger.


    Quote Originally Posted by Hodgie View Post
    On a side not and as a practicing Christian I find it interesting that so many clergy are involved in this. For people who run so called non profit business that are completely tax exempt they apparently have a lot of money to invest in order to have a seat and a say at the table.
    Some Clergy are not good Christians or have a very warped view of what "Christianity" means..... free hint, being a Christian is not being a victim. Jesus was ultimately humiliated and victimized for our sakes, so we don't have to go through it.

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