Tag Archives: gun manufacturers

FYI: Retirement funds, pensions, and educational savings plans invested in gun manufacturing?

First, please read the June 2016 article from Mother Jones which describes the ownership of the gun manufacturers who, in turn, direct the agenda of the National Rifle Association.   And now for some financial information:

Sturm Ruger and CompanyNASDAQ reports the company is 88.79% owned by institutional investors. The top five institutional investors are Black Rock (2,948,467 shares), Vanguard (1,659,697 shares), Capital World Investors (1,490,248), London Company of Virginia (1,355,076 shares), Voya Investment Management (777,224 shares)

Blackrock offers college savings plans, retirement investment plans, factor investing, and ironically “sustainable” investment programs.  Vanguard advertises its IRA accounts, retirement savings accounts, and pension plans.  Capital World Investors manages equity and mutual funds for its investors.  The London Company of Virginia is reported as “The London Company of Virginia, LLC is an employee owned investment manager. The firm primarily provides its services to individuals. It also provide its services high net worth individuals, investment companies, pension and profit sharing plans, charitable organizations, foundations, State or municipal government entities, and corporations.”  Voya Investment Management advertises its mutual funds for its investors.  The firm primarily serves insurance companies. [Bloomberg]

American Outdoor Brands (formerly Smith and Wesson) includes Smith & Wesson, Gemtech Suppressors, Crimson Trace, and accessories. It is 74.96% institutionally owned. The top institutional investors are Blackrock (6,012,767), Invesco Ltd (4,858,400), Vanguard (4,508,410), LSV Management (2,148,948), Dimensional Fund Advisors (1,774,780), Voya Investment Management (1,655,896) as of December 31, 2017. [NASDAQ]  LSV Management provides investment services to corporate pension and profit sharing plans. [Bloomberg] Dimensional Fund Advisors offers a variety of funds for its investors, most recently noticed for increasing its position in Chevron. [LG]

Remington Outdoor Company is owned by Cerberus Capital Management.  Cerberus advertises its $30 billion under management. [Cerb]   The firm recently drew the attention of Bloomberg News in an article by Joe Nocera, “Cerberus, Guns, and the Legacy of Newtown.” [BN 3/14/18] (Highly recommended reading)

“What Cerberus did right, again in a business sense, was market guns, especially the AR-15. Feinberg helped popularize assault weapons, making them a must-have purchase for a certain kind of gun owner.

The first gun company to make an AR-15 was Armalite in the early 1960s, but it took over three decades for the gun to become a major factor in the business. Only when the culture of hunting began to be eclipsed by a more militaristic gun culture did the AR-15 become popular. At least part of this was due to gun advertising, which stressed both militarization and masculinity.

And no company took this advertising as far as Remington Outdoor. In 2010, it began an ad campaign that showed a picture of a Bushmaster XM-15 in a shooting position. The headline read: “Consider Your Man Card Reissued.” Another ad had the headline, “Forces of Opposition, Bow Down,” with a picture of an AR-15. Remington called one of its guns the Remington ACR — for Adaptive Combat Rifle.”

SIG Sauer is a privately held German firm, with SIG Sauer, Inc as its American branch. It’s been most recently in the news for securing a nearly $600 contract with the US Department of Defense to replace the M9 handguns.

Conclusions?  It’s a bit unsettling to consider that the pension plan into which a person might be investing in order to avoid being a burden on one’s children, is the same plan investing in the weapons used to lethal effect on those children?  Or, that the college savings plan might be tragically unnecessary should a child be killed by one of the products manufactured by the gun industry, supported by mutual fund investment companies?

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Filed under Gun Issues, Politics

Guns and Money

Stonewall NRA How Much? Thus far into the 2016 election cycle the National Rifle Association PAC  has donated a total of $398,400 to Federal candidates with $3,500 going to Democrats and $394,900 donated to Republican campaigns.  The Safari Club International PAC has contributed $17,000 to Democratic candidates and $317,500 to Republicans.  The National Shooting Sports Foundation PAC has donated $118,500 with $2,000 to Democratic candidates and $116,500 to Republican candidates.  The National Association for Gun Rights PAC has donated $29,000 to Republican candidates, and nothing to Democratic ones. The Gun Owners of American PAC has donated $9,585 with all contributions given to Republicans. The Ohio Gun Collectors Association PAC has distributed $7,000 all of which has gone to Republican candidates. The Dallas Safari Club PAC has donated all $3,000 of its contributions to Republicans.  [OS.org]

The NRA PAC has donated $75,000 so far to the National Republican Senatorial Committee; $30,000 to the National Republican Congressional Committee; $15,000 to the Republican National Committee; $9,950 to the Blue Dog PAC, $5,000 to the Republican Party of Iowa; $5,000 to the Republican Federal Committee of Pennsylvania; $5,000 to the Republican Party of Tennessee; $5,000 to the Republican Party of Kentucky; and, $5,000 to the Republican Party of Idaho.  [OS.org]

We also need to consider the NRA lobbying arm, the NRA Institute for Legislative Action, which runs issue-based campaign ads of its own.  This organization cannot donate directly to candidates but is allowed to receive millions of dollars in donations from corporations.  It is not required to disclose the donors but manufacturers like Smith & Wesson and Sturm Ruger & Company have announced large donations to the NRA-ILA in the past. [CNN]  It’s public knowledge that during the two year period of the 2014 election cycle the NRA spent almost $36 million on lobbying, campaign contributions, and related political spending. [CNN]

Who Gets? Nevada Congressional candidate Cresent Hardy received $3,000 from the NRA PAC.  Joe Heck, Senate candidate in Nevada received $4,950 from the NRA PAC.

Cresent Hardy received another $2,000 from the Safari Club International PAC.  Senate candidate Joe Heck also received $2,000 from the Safari Club International PAC. Current Nevada Senator Dean Heller also received $2,000 in the 2016 cycle from the Safari Club International PAC.   The recipients are those listed in reports up to May 16, 2016. [OP.org]

The Response

The tragedy in Orlando, Florida, illustrates in a horrible way why simplistic thinking is detrimental to civil discourse in America.  And, the NRA response was perfectly predictable:

“Radical Islamic terrorists are not deterred by gun control laws. The San Bernardino terrorist attack wasn’t stopped by California’s so-called “assault weapons” ban. The gun ban in Brussels didn’t prevent the terrorist attack there. And France’s strict gun control didn’t stop the two attacks in Paris, committed with fully-automatic rifles and grenades.

Repeating the same thing but expecting a different result is the definition of insanity. Law-abiding gun owners are tired of being blamed for the acts of madmen and terrorists. Semi-automatics are the most popular firearms sold in America for sport-shooting, hunting and self-defense.” [USAToday]

Heck, Hardy, and Heller have accepted NRA donations, and thus we’d have to assume they adhere to the arguments set forth by the NRA – logical flaws and all.

blood drop

The line that criminals (or terrorists) are not deterred by gun control laws is getting a bit stale.  Bank robbers aren’t deterred by laws designed to prevent robberies, but we have them on the books so that those violating the laws will be prosecuted.  Gun safety regulations are just that; laws designed to keep people safer – from successful suicides, assaults with these deadly weapons, and terrorist attacks.

blood drop

There is nothing quite so illogical as setting up an impossible standard and then insisting that all legislation perfectly meet that Impossibility. No law prevents all murders, all robberies, all auto thefts, or even all terrorist attacks, BUT doing nothing isn’t really a viable option.   Again, banning the sale of sliding side cribs for infants will not prevent all infant deaths, but it has prevented some, and for that we should be grateful.  We don’t ban all toys, but we don’t allow the sale of lawn darts which killed a handful of people and injured a few thousand.  The idea isn’t that we will be Perfectly Safe, but that we will be SAFER if military style weapons and high capacity magazines are not available to every single individual in America.

blood drop

Yes, expecting a different result from the same action is silly – however, the point is that we haven’t taken ANY action to curtail the proliferation of military style weaponry in civilian hands.  In fact, we’ve done the reverse.  There are at least 70 instances in which state legislatures have weakened gun safety law since the Sandy Hook massacre. [HuffPo] Congress, as is relatively obvious, hasn’t enacted any measures related to keeping Americans safer – none.

So, let’s turn this argument around.  The NRA pleads that what we have done since Sandy Hook hasn’t made us any safer.  True – we’ve weakened laws on the books, and the Congress has done nothing; therefore, expecting our environments to be safer is “expecting to do the same things and expecting to get another result.”

blood drop

The “poor me” gun owners argument is also getting bromidic.  No one is “blaming” those “responsible gun owners” for attacks in San Bernardino, Orlando, Charlestown, Blacksburg, Fort Hood, and Aurora…

Indeed, these were carried out by the deadly delusional among us. The real question is WHY we continue to countenance the easy sale and distribution of deadly weapons, regardless of the hands unto which they are committed?

blood drop

Semi-automatics are the most popular firearm sold in America,”  is NOT an argument for believing that continuing to do nothing will make us all safer.  Mrs. Winslow’s Soothing Syrup for Babies was a very popular product in the 19th century, and indeed it would sooth those teething little critters – with the 65 mg of morphine per fluid ounce.  To Mrs. Winslow’s concoction we might add Lloyd Manufacturing’s Cocaine Toothache Drops, Kimball’s White Pine and Tar Cough Syrup, and Laudanum – the latter being exceptionally popular.  Merely because an item is “popular” doesn’t mean it is a wholesome, safe, and generally useful product.

blood drop

Military style weapons are for military and law enforcement use. Period. Yes, a person could “go hunting” with an AR-15, but why? Most hunters use sporting rifles and shotguns so as not to “mess up the meat.”  At the risk of repeating myself – a person might use an AR-15 for hunting especially if the individual is of the type inclined to use a D8 Cat to move a bag of potting soil.  As far as home defense goes – just who do they think is going to show up?    Granted my marksmanship leaves a lot to be desired, but if I haven’t hit the “target” with my first couple of shots what would make me believe that I will do any more damage with the next 30 rounds? Except perhaps to complete the total “air-conditioning” of my living room?  I don’t expect a small army of burglars. I expect that statistics will hold that most burglars operate alone and unarmed.  The odds are against my ever needing a high capacity magazine attached to a highly lethal weapon – so why bother with the purchase?

blood drop

All too often when the smoke clears from a tragic shooting we find that the motives of the shooters were a complex mix of mental illness, delusional thinking, personal issues, political ideologies, and were far more complicated than simply ascribing blame to a singular causal factor.  However much the NRA wants to believe that Orlando was exclusively a terrorist attack, and however much Daesh would like to claim it, the shooter’s ideation remains cloudy – was it homophobic? Was it terroristic? Was it both? What other factors may have been involved? Was it a dramatic version of suicide-by-cop going down in a blaze of glory when his life was falling apart?  We don’t know much at this point and we may not know much more later in the investigations.  What we do know is that it didn’t take all that much effort for him to purchase all the firepower he needed to implement his irrational plan.

Questions

To those Federal candidates and office holders like Hardy, Heck, and Heller:

1. Do you believe that anyone should be allowed to purchase a high capacity magazine for a military style weapon which can be easily modified to function as an automatic weapon?

2. Do you believe that military style weapons should be readily available in the marketplace for civilian use?

3. Do you believe that simply because we can’t prevent every tragic loss of life to suicide, homicide, or assaults that we should do nothing to alleviate the situation?

4. Do you believe that individuals who can’t pass a background check should be able to purchase guns at a gun show?

5. Do you believe  that persons who are adjudicated mentally ill, have a history of spousal abuse, or who are on “no-fly” lists should be allowed to purchase military style weapons and high capacity magazines?

Perhaps instead of taking the NRA’s nihilistic approach – there’s nothing we can do – we ought to be discussing how we can implement a general policy based on the concept that every little bit helps, and that doing Something is  preferable to doing Nothing.

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Filed under Gun Issues, Heck, Heller, Nevada politics, Politics