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Lawyers, Guns
and Money
Picture of chellim1
posted Hide Post
quote:
Originally posted by smschulz:
Do they really think this is GOOD publicity? Roll Eyes

I think they do.

They have already pissed off and driven away those of us who are gun owners and pay attention to gun issues.
I think they must think they can virtue signal the anti-gun folks to shop more at their store. I don't think it's smart, because I'd rather have more customers, and wouldn't want to piss off half of my potential customer base. But they already have.
So... they double-down.



"Some things are apparent. Where government moves in, community retreats, civil society disintegrates and our ability to control our own destiny atrophies. The result is: families under siege; war in the streets; unapologetic expropriation of property; the precipitous decline of the rule of law; the rapid rise of corruption; the loss of civility and the triumph of deceit. The result is a debased, debauched culture which finds moral depravity entertaining and virtue contemptible."
-- Justice Janice Rogers Brown

"The United States government is the largest criminal enterprise on earth."
-rduckwor
 
Posts: 24753 | Location: St. Louis, MO | Registered: April 03, 2009Reply With QuoteReport This Post
Member
Picture of cjevans
posted Hide Post
Would the SF BrainsTrust help with my questions:

First, a preamble to the question:

" ... Dick's will be destroying all unsold firearms ... the rifles (oh, so not all firearms?) will be demolished at distribution centers and then delivered to a salvage company to be recycled. It was not immediately clear how many firearms will be destroyed ..."


Q1: The distribution centers and salvage company, are these ... in Chicago?

Q2: Dick's 'destroys' the inventory, claims on insurance, to repay the merchants or clear the accounts payable?

Q3: Surely they won't take a loss from the destruction?

Q4: Okay, but what will really happen?

The only Dick's I visit, is a Seattle hamburger drive-in on NE 30th ...



We are all born ignorant, but one must work hard to remain stupid." ~ Benjamin Franklin.

"If anyone in this country doesn't minimise their tax, they want their head read, because as a government, you are not spending it that well, that we should be donating extra...:
Kerry Packer

SIGForum: the island of reality in an ocean of diarrhoea.
 
Posts: 1886 | Location: Altona Beach | Registered: February 20, 2012Reply With QuoteReport This Post
Page late and a dollar short
posted Hide Post
From smallbusiness.chron.com on Disposal of Inventory:
If you've overstocked your shelves and you can't get rid of your inventory, there are ways to dispose of it and claim a tax loss. You can sell it to a company that specializes in handling obsolete or overstocked merchandise. You can donate the inventory to charity and claim a write-off that way, or you can simply destroy it. The IRS may scrutinize your claims carefully, so make sure that you have records to prove your case. If you destroy your stock, for example, "before" and "after" photos might come in handy.

You can bet that their accounting department will deduct this from their taxes.


-------------------------------------——————
————————--Ignorance is a powerful tool if applied at the right time, even, usually, surpassing knowledge(E.J.Potter, A.K.A. The Michigan Madman)
 
Posts: 8444 | Location: Livingston County Michigan USA | Registered: August 11, 2002Reply With QuoteReport This Post
Member
Picture of erj_pilot
posted Hide Post
quote:
Originally posted by cjevans:
Q2: Dick's 'destroys' the inventory, claims on insurance, to repay the merchants or clear the accounts payable?

Q3: Surely they won't take a loss from the destruction?

If Dick's is allowed to willfully DESTROY their inventory and then claim it as an insurance loss, then what keeps me from insuring my entire humidor and claiming loss due to fire whenever I smoke a cigar?? Yeah, I know...been tried and claimant was found guilty of willful arson. Still, though...an insurance company wouldn't POSSIBLY agree to a settlement, would it? But stranger things have happened..... Roll Eyes



"If you’re a leader, you lead the way. Not just on the easy ones; you take the tough ones too…” – MAJ Richard D. Winters (1918-2011), E Company, 2nd Battalion, 506th Parachute Infantry Regiment, 101st Airborne

"Woe to those who call evil good, and good evil... Therefore, as tongues of fire lick up straw and as dry grass sinks down in the flames, so their roots will decay and their flowers blow away like dust; for they have rejected the law of the Lord Almighty and spurned the word of the Holy One of Israel." - Isaiah 5:20,24
 
Posts: 11066 | Location: NW Houston | Registered: April 04, 2012Reply With QuoteReport This Post
Lawyers, Guns
and Money
Picture of chellim1
posted Hide Post
The stock is down about 10% since April 12

Dick's Sporting Goods, Inc. (DKS) @ $31.50



"Some things are apparent. Where government moves in, community retreats, civil society disintegrates and our ability to control our own destiny atrophies. The result is: families under siege; war in the streets; unapologetic expropriation of property; the precipitous decline of the rule of law; the rapid rise of corruption; the loss of civility and the triumph of deceit. The result is a debased, debauched culture which finds moral depravity entertaining and virtue contemptible."
-- Justice Janice Rogers Brown

"The United States government is the largest criminal enterprise on earth."
-rduckwor
 
Posts: 24753 | Location: St. Louis, MO | Registered: April 03, 2009Reply With QuoteReport This Post
Lawyers, Guns
and Money
Picture of chellim1
posted Hide Post



"Some things are apparent. Where government moves in, community retreats, civil society disintegrates and our ability to control our own destiny atrophies. The result is: families under siege; war in the streets; unapologetic expropriation of property; the precipitous decline of the rule of law; the rapid rise of corruption; the loss of civility and the triumph of deceit. The result is a debased, debauched culture which finds moral depravity entertaining and virtue contemptible."
-- Justice Janice Rogers Brown

"The United States government is the largest criminal enterprise on earth."
-rduckwor
 
Posts: 24753 | Location: St. Louis, MO | Registered: April 03, 2009Reply With QuoteReport This Post
Texas Proud
Picture of texassierra
posted Hide Post
The Dick's are really showing their true colors now. They've taken steps to hire multiple lobbyist to push gun control.

The Federalist


NRA Life Patron
 
Posts: 1923 | Location: DFW | Registered: March 28, 2004Reply With QuoteReport This Post
Drill Here, Drill Now
Picture of tatortodd
posted Hide Post
quote:
Originally posted by texassierra:
The Dick's are really showing their true colors now. They've taken steps to hire multiple lobbyist to push gun control.

The Federalist
NRA-ILA on FB phrased it best today, “When you thought they couldn’t live up to their name any more, Dick’s is now officially lobbying Congress for gun control”



Ego is the anesthesia that deadens the pain of stupidity

DISCLAIMER: These are the author's own personal views and do not represent the views of the author's employer.
 
Posts: 23816 | Location: Northern Suburbs of Houston | Registered: November 14, 2005Reply With QuoteReport This Post
Info Guru
Picture of BamaJeepster
posted Hide Post
quote:
Originally posted by tatortodd:
quote:
Originally posted by texassierra:
The Dick's are really showing their true colors now. They've taken steps to hire multiple lobbyist to push gun control.

The Federalist
NRA-ILA on FB phrased it best today, “When you thought they couldn’t live up to their name any more, Dick’s is now officially lobbying Congress for gun control”


At least the ones who tried to defend them by saying that they were just making a business decision and not taking sides are exposed now. They are proactively lobbying Congress, let's hear the spin on that. If you spend a dollar there, you are actively aiding the anti-gun coalition. It's black and white now.



“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passions, they cannot alter the state of facts and evidence.”
- John Adams
 
Posts: 29408 | Location: In the red hinterlands of Deep Blue VA | Registered: June 29, 2001Reply With QuoteReport This Post
Knows too little
about too much
Picture of rduckwor
posted Hide Post
We need to "discover" those corporations, organizations, politicians, banks, etc. putting pressure on gun/ammo manufacturers and expose them in the worst way. Their actions are anti-Constitutional and we need to make our case loudly in the media, social media, shareholder meetings, etc. If they manufacture products, we can boycott them and make certain that we get attention to the reason for the boycott. We can sit on our asses and watch our rights disappear or we can get busy and defend them.

RMD




TL Davis: “The Second Amendment is special, not because it protects guns, but because its violation signals a government with the intention to oppress its people…”
Remember: After the first one, the rest are free.
 
Posts: 20407 | Location: L.A. - Lower Alabama | Registered: April 06, 2008Reply With QuoteReport This Post
Shit don't
mean shit
posted Hide Post
quote:
Originally posted by chellim1:
The stock is down about 10% since April 12

Dick's Sporting Goods, Inc. (DKS) @ $31.50

If I was a stockholder I'd be pissed at what they are doing. The BOD and its officers have a fiduciary responsibility to the owners (shareholders). Purposely destroying inventory? Even if they get a tax write off they are still taking a loss (1 minus their tax rate). The actions seem ripe for a class action lawsuit. They are not doing what is in the best interest of the owners.
 
Posts: 5825 | Location: 7400 feet in Conifer CO | Registered: November 14, 2006Reply With QuoteReport This Post
Drill Here, Drill Now
Picture of tatortodd
posted Hide Post
quote:
Originally posted by 1967Goat:
quote:
Originally posted by chellim1:
The stock is down about 10% since April 12

Dick's Sporting Goods, Inc. (DKS) @ $31.50

If I was a stockholder I'd be pissed at what they are doing. The BOD and its officers have a fiduciary responsibility to the owners (shareholders). Purposely destroying inventory? Even if they get a tax write off they are still taking a loss (1 minus their tax rate). The actions seem ripe for a class action lawsuit. They are not doing what is in the best interest of the owners.
The lobbying is a CYA move for the executives. If they get Congress to force others to do what they voluntarily did they can say “see, we were out in front of it and bettter positioned”

The fundamental flaw in their “logic” is they could hire 535 lobbyists and they still wouldn’t get a bill passed



Ego is the anesthesia that deadens the pain of stupidity

DISCLAIMER: These are the author's own personal views and do not represent the views of the author's employer.
 
Posts: 23816 | Location: Northern Suburbs of Houston | Registered: November 14, 2005Reply With QuoteReport This Post
Lawyers, Guns
and Money
Picture of chellim1
posted Hide Post
I can't shop there any less... because I already stopped.
But... I can share this info with everyone on my contact list.



"Some things are apparent. Where government moves in, community retreats, civil society disintegrates and our ability to control our own destiny atrophies. The result is: families under siege; war in the streets; unapologetic expropriation of property; the precipitous decline of the rule of law; the rapid rise of corruption; the loss of civility and the triumph of deceit. The result is a debased, debauched culture which finds moral depravity entertaining and virtue contemptible."
-- Justice Janice Rogers Brown

"The United States government is the largest criminal enterprise on earth."
-rduckwor
 
Posts: 24753 | Location: St. Louis, MO | Registered: April 03, 2009Reply With QuoteReport This Post
Member
Picture of lkdr1989
posted Hide Post
NSSF just booted them...of course, I didn't even realize they were a NSSF member.

quote:

NSSF Expels Dick’s Sporting Goods

NEWTOWN, Conn. — The National Shooting Sports Foundation® (NSSF®), the trade association for the firearms, ammunition, hunting and shooting sports industries, Board of Governors today unanimously voted to expel Dick’s Sporting Goods from membership for conduct detrimental to the best interests of the Foundation.

Dick’s Sporting Goods recently hired a Washington D.C.-based government affairs firm, for “[l]obbying related to gun control.” Dick’s Sporting Goods CEO Edward W. Stack announced earlier this year the retail chain would end sales of modern sporting rifles, voluntarily raise the age to 21 to purchase firearms in their stores and called for more restrictive legislation. Dick’s later announced they would destroy the remaining modern sporting rifle inventory. NSSF responded that business decisions should be individually made, but was nonetheless disappointed and the decision does not reflect the reality of the vast majority of law-abiding gun owners.


https://www.nssf.org/nssf-expe...s%20Sporting%20Goods




...let him who has no sword sell his robe and buy one. Luke 22:35-36 NAV

"Behold, I send you out as sheep in the midst of wolves; so be shrewd as serpents and innocent as doves." Matthew 10:16 NASV
 
Posts: 4401 | Location: Valley, Oregon | Registered: June 03, 2010Reply With QuoteReport This Post
Texas Proud
Picture of texassierra
posted Hide Post
Awesome! Good move.


NRA Life Patron
 
Posts: 1923 | Location: DFW | Registered: March 28, 2004Reply With QuoteReport This Post
Member
posted Hide Post
quote:
Originally posted by lkdr1989:
NSSF just booted them...of course, I didn't even realize they were a NSSF member.

[QUOTE]
NSSF Expels Dick’s Sporting Goods

NEWTOWN, Conn....[/url]


More details here:

http://www.chicagotribune.com/...-20180504-story.html

Dick's Sporting Goods ramps up gun control push, hires lobbyist

by Polly Mosendz and Matt Townsend
Bloomberg
May 4, 20128 8:54 AM

Dick's Sporting Goods is taking a further step to advocate for gun control, part of a rapid transition for the retailer that's also a major vendor of firearms in the U.S.

The company has retained Glover Park Group to lobby congress on the matter, according to a disclosure form filed in late April. The move is unusual in the retail sector, where few brands tackle such politically charged issues for fear it will turn off customers.

Following a mass shooting at a Parkland, Florida high school in February, Dick's announced it would stop selling assault-style rifles and high-capacity magazines. It also increased the firearms purchase age to 21.

Dick's, the biggest sporting-goods retailer in the U.S., was one of many brands to eschew the gun industry following the shooting. Walmart, Kroger, L.L. Bean and Orvis all made changes to their firearms offerings. Other companies severed ties with the National Rifle Association as a result of nationwide protests that followed the Parkland attack.

Chief Executive Officer Edward Stack said at the time that while the company supports second-amendment rights, "we have to help solve the problem that's in front of us. Gun violence is an epidemic that's taking the lives of too many people, including the brightest hope for the future of America--our kids."

The sporting-goods retailer is working with three lobbyists from the Glover Park, a legislative and public affairs firm, who have worked with both Democrats and Republicans. The disclosure form listed the lobbyists as John Johnson, who worked for former President Bill Clinton, Andrew King, who previously worked for Republican Senator Lindsey Graham, and Christina Brown, who worked with Democratic Senator Bob Casey.

A spokesman for Dick's declined to comment. Glover Park didn't respond to requests for comment.

After changing the company's stance on guns, Stack vowed to be become an advocate and visited Washington in March to meet with members of Congress. That included being hosted by Senator Dianne Feinstein, a California Democrat who has been a gun-control advocate for decades.

Stack's push on gun control comes as the business his father founded faces difficulties. The stock has fallen about 38 percent in the past 12 months as the retailer faces increasing competition from Amazon.com Inc. and suppliers, such as Nike Inc., that are generating more revenue through their own stores and websites. Ending the sales of some guns will also hurt revenue.

The hiring of Glover Park Group by Dick's was reported earlier by The Federalist.
 
Posts: 16049 | Location: Eastern Iowa | Registered: May 21, 2000Reply With QuoteReport This Post
Glorious SPAM!
Picture of mbinky
posted Hide Post
They should change their name from "Dick's Sporting Goods" to "Dick's Feminine Products" because it seems they only cater to pussies now.
 
Posts: 10640 | Registered: June 13, 2003Reply With QuoteReport This Post
Nullus Anxietas
Picture of ensigmatic
posted Hide Post
So, just for S&G's, I took a look at Dick's stock prices, compared to the approximate dates on which they've made their three recent virtue-signalling moves (±1 day).

I think perhaps their next stock holder's meeting might be real interesting.




"America is at that awkward stage. It's too late to work within the system,,,, but too early to shoot the bastards." -- Claire Wolfe
"If we let things terrify us, life will not be worth living." -- Seneca the Younger, Roman Stoic philosopher
 
Posts: 26009 | Location: S.E. Michigan | Registered: January 06, 2008Reply With QuoteReport This Post
No ethanol!
posted Hide Post
Who has majority control of Dick's? A few years back I heard they took on fresh money to expand and go eCommerce. Were they acquired by one of the holding companies beholding to one of our liberal elites?

Anyone know?


------------------
The plural of anecdote is not data. -Frank Kotsonis
 
Posts: 2101 | Location: Berks Co PA | Registered: December 20, 2006Reply With QuoteReport This Post
Member
posted Hide Post
quote:
Originally posted by preten2b:
Who has majority control of Dick's? A few years back I heard they took on fresh money to expand and go eCommerce. Were they acquired by one of the holding companies beholding to one of our liberal elites?

Anyone know?

It's publicly traded on the NYSE. If you look up ownership, the big shareholders are Blackrock and Vanguard.
 
Posts: 2540 | Location: WI | Registered: December 29, 2012Reply With QuoteReport This Post
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