Posted April 24, 2018 4:00 pm by Comments

By Tom Knighton

It stands to reason that gun companies would support the National Rifle Association. The NRA wants to keep as large a pool of people being able to buy guns as possible. That means gun manufacturers would have a much larger base of people to sell their products to. In other words, supporting the NRA is rational self-interest, if nothing else.

However, a bank is threatening Sturm, Ruger & Company over its NRA support.

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. The bank’s chief executive Keith Mestrich described Ruger’s relationship with the NRA as “short-termism” in their resistance to new gun laws.

“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 …Read the Rest

Source:: Bearing Arms

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