April 26, 2018, 06:33 AM
LeemurBank/Ruger/NRA threat
I think Ruger’s leadership knows they’d be out of business within a month if they caved to something this ridiculous.
April 26, 2018, 07:36 AM
fatmanspencerquote:
Originally posted by esdunbar:
quote:
Originally posted by jljones:
This will be interesting to watch to see if Ruger caves.
My bet is that they just might. They have been one foot in on the EBR market, just like ol’ Bill said we little people didn’t “need” them.
Depending on how leveraged they are for cash, will depend on how they react.
If they cave, I'm starting up a shop putting out 10/22's and 22/45's under my own label.
Those are the Ruger staples that the gun buying community would miss when we burry Ruger. Other than those two guns, I'll happily banish them if they do. I'll make a killing being the alternative to them.
They cave, I got a 1200 rifle that imma sell for about 1000 with a scope rounds and bipod, and I'll advertise it here first. 308 RPR
I'll buy one of those 10/22 or 22/45's from dunbar as well. Let them cave, Imma put my money where my mouth is, just like them.
April 26, 2018, 08:45 AM
x0225095Last I checked Ruger had no debt.
April 26, 2018, 09:42 AM
Modern Day Savagequote:
Amalgamated Bank said it will pull investments from Sturm, Ruger & Company and withhold support for an board member if the gun maker fails to adopt new corporate policies and cut ties with the National Rifle Association.
“They fail to proactively adopt corporate social responsibility efforts commensurate with the lethality of their product, and display hypocrisy in touting adherence to the law while working with the NRA to weaken the law as much as possible,” Mestrich said. He made a fiduciary argument that Amalgamated would have to pull funds because Ruger’s effort “creates significant financial and reputational risks” that will hurt the company and shareholders.
What exactly does "pull investments" mean? If that involves selling stock they own, so be it, let them sell it. Perhaps someone else, maybe even Ruger, will buy it.
There is some serious pretzel logic being contorted by Amalgamated Bank. If they don't like the NRA then why did they invest in Sturm Ruger in the first place? Sturm Ruger (and all other firearms industry mfrs.) and the NRA have overlapping interests and similarly aligned goals. Sturm Ruger has helped raise millions of dollars for the NRA and done so for years...
...and only now Amalgamated Bank decides that a company that it is investing in, that cooperates with an organization that promotes the legal use of its products not to mention the SAFETY in using those products, is suddenly no longer worth investing in???
Strangling the goose that laid the golden egg is far from a wise investing strategy. It seems to me that Amalgamated Bank is guilty of fiduciary dereliction.
April 26, 2018, 11:15 AM
Pale HorseI wouldn’t ramp up production of those 10/22 knockoffs just yet.
quote:
Many of you have asked whether Ruger has any reaction to the recent letter we received from Amalgamated Bank (“AB”). Rest assured that Ruger has no plans to submit to the demands of AB. As “Arms Makers for Responsible Citizens,” we here at Ruger are proud of our rich history of promoting the safe and responsible ownership and use of firearms. We remain staunch supporters of the Second Amendment, the NRA, and our law-abiding customers in the exercise of their constitutionally protected rights.
In case you have not seen it, we are including a link to a letter signed by both our Chairman of the Board and CEO dated March 12, 2018 . This letter addresses many of the claims made by AB and clearly outlines the Company’s view on these matters. Finally, to clarify any misunderstanding, we note that Ruger does not have (and has never had) a banking relationship with AB. Rather, AB is a modest shareholder which owns approximately 8,000 shares of Company stock.
https://ruger.com/corporate/PDF/8K-2018-03-12.pdfApril 26, 2018, 11:33 AM
Modern Day Savagequote:
Originally posted by Pale Horse:
I wouldn’t ramp up production of those 10/22 knockoffs just yet.
quote:
Many of you have asked whether Ruger has any reaction to the recent letter we received from Amalgamated Bank (“AB”). Rest assured that Ruger has no plans to submit to the demands of AB. As “Arms Makers for Responsible Citizens,” we here at Ruger are proud of our rich history of promoting the safe and responsible ownership and use of firearms. We remain staunch supporters of the Second Amendment, the NRA, and our law-abiding customers in the exercise of their constitutionally protected rights.
In case you have not seen it, we are including a link to a letter signed by both our Chairman of the Board and CEO dated March 12, 2018 . This letter addresses many of the claims made by AB and clearly outlines the Company’s view on these matters. Finally, to clarify any misunderstanding, we note that Ruger does not have (and has never had) a banking relationship with AB. Rather, AB is a modest shareholder which owns approximately 8,000 shares of Company stock.
https://ruger.com/corporate/PDF/8K-2018-03-12.pdf
I believe Ruger has released several innovative and interesting products in recent years and has enjoyed a fair amount of success.
THIS is exactly the type of response I was expecting from them. Way to go Ruger!
April 26, 2018, 01:31 PM
Pale HorseThis thread shows me that we are getting used to companies abandoning us. Before we even knew what the full relationship was between Ruger and AB we were sharpening our pitchforks and pricing our guns for sale. It’s so commonplace for companies to turn their back on the NRA that we were ready for a major US firearms manufacturer to do it too. I’m glad Ruger proved us wrong. Of course learning that AB is nothing but a stockholder makes their decision easier.
May 01, 2018, 05:53 PM
Pale HorseHave you all taken the time to call or write Ruger yet?
Just curious. We are rightfully angry when a company turns their back on us but we should be as diligent about thanking companies that don't.
The yeti thread has 12 pages. This has 1 response after it was revealed that Ruger was standing by us. I would guess that had they bowed to AB this would be 8 pages deep by now.
A little reminder to support our friends as seriously as we attack our enemies.
May 01, 2018, 09:03 PM
orion5Just wrote an email to the CEO, thanked him for his stance on the issue. Find the "ask the ceo" email page and let him know how you feel. Ruger just manned up a bunch in my opinion.
o5
May 03, 2018, 08:32 AM
dusty3030quote:
Originally posted by orion5:
Just wrote an email to the CEO, thanked him for his stance on the issue. Find the "ask the ceo" email page and let him know how you feel. Ruger just manned up a bunch in my opinion.
o5
I did the same and got my reply back last night. Very impressed it was a response to what I had written and not a canned message. Kudos to Mr. Killoy.