Speedo66
Member
A group of shareholding nuns at a shareholders meeting yesterday persuaded other shareholders to implement a company policy requiring Ruger management to start developing "safe" guns and for the company to start tracking violence committed with Ruger guns.
They were able to convince the largest shareholder, BlackRock, an assets manager, to join them in the issue.
Company management was against the proposal.
"Christopher J. Killoy, Ruger’s chief executive, was defiant after the vote, saying that Ruger would not “adopt misguided principles by groups that do not own guns and do not understand guns.”
“This proposal requires Ruger to prepare a report,” Mr. Killoy said. “That’s it, a report.”
The nuns also bought shares in Dick's Sporting Goods and American Outdoor Brands, parent company of S&W, hoping to influence them in the same direction.
Hopefully, investors will put pressure on Blackrock to cease and desist as it seems that actions like that will decrease the value of their investment as gun buyers may shy away from Ruger.
Here's the article: https://www.nytimes.com/2018/05/09/business/sturm-ruger-shareholders-activists.html?module=WatchingPortal®ion=c-column-middle-span-region&pgType=Homepage&action=click&mediaId=thumb_square&state=standard&contentPlacement=11&version=internal&contentCollection=www.nytimes.com&contentId=https://www.nytimes.com/2018/05/09/business/sturm-ruger-shareholders-activists.html&eventName=Watching-article-click
They were able to convince the largest shareholder, BlackRock, an assets manager, to join them in the issue.
Company management was against the proposal.
"Christopher J. Killoy, Ruger’s chief executive, was defiant after the vote, saying that Ruger would not “adopt misguided principles by groups that do not own guns and do not understand guns.”
“This proposal requires Ruger to prepare a report,” Mr. Killoy said. “That’s it, a report.”
The nuns also bought shares in Dick's Sporting Goods and American Outdoor Brands, parent company of S&W, hoping to influence them in the same direction.
Hopefully, investors will put pressure on Blackrock to cease and desist as it seems that actions like that will decrease the value of their investment as gun buyers may shy away from Ruger.
Here's the article: https://www.nytimes.com/2018/05/09/business/sturm-ruger-shareholders-activists.html?module=WatchingPortal®ion=c-column-middle-span-region&pgType=Homepage&action=click&mediaId=thumb_square&state=standard&contentPlacement=11&version=internal&contentCollection=www.nytimes.com&contentId=https://www.nytimes.com/2018/05/09/business/sturm-ruger-shareholders-activists.html&eventName=Watching-article-click
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