The new war on guns?


While most gun owners were focused intently on gun control proposals in the U. S. Senate, and rightfully so, it appears a new threat has arisen – a financial threat.

As reported earlier by the Associated Press, GE Capital, General Electric’s finance arm, quietly cut off funding deals for scores of gun shops.

From the AP story:

GE Capital started a “rigorous audit process” of its 200,000 customers due to “industry changes, new legislation and tragic events,” spokesman Russell Wilkerson said in an e-mailed statement Thursday. GE Capital had originally cut ties with gun stores in 2008, but through the audit discovered less than 75 stores were still receiving financing packages because the store’s business model had changed since then or it was grandfathered in.

Not long after, Cerberus Capital put its Freedom Arms up for sale.

Other hedge funds and equity firms are backing away from the firearms industry.

Financial gun control is becoming a trend.

Some gun writers have tried to link these moves with long-held anti-gun positions of cable news networks and cable TV providers, which they say are all orchestrated behind the scenes by the Administration wielding a stimulus-money cudgel.

I think that’s a stretch.

I am hearing rumblings of other lending troubles at the local level. We need to understand the scope of the problem because the damage could be catastrophic.

If gun dealers, manufacturers and distributors are not able to secure funding via traditional means, it will cripple the industry.

Simply put: no funding – no guns.

It could, however, explain what is happening to the ammunition industry. Everyone knows something is seriously wrong there.

Except for a few business writers, this dilemma has not drawn much scrutiny from my colleagues in the media.

I would like to better understand the scope of the problem locally, to see if there is a viable financial threat here, and I need your help.

There is a journalism technique called crowdsourcing, which can help. When it’s done correctly, it’s extremely effective.

It requires your participation.

For FFL holders: if your shop has experienced lending problems, please let me know. Confidentiality is assured.

For gun owners:  please ask your dealer about this, and let me know what you hear.

I can be reached easiest via email or my cell: (941) 284-8553.

I will report the findings here as soon as there is enough data to analyze.












About Author

Lee Williams can’t remember a time in his life when he wasn’t shooting. Before becoming a journalist, Lee served in the Army and worked as a police officer. He’s earned more than a dozen journalism awards as a reporter, and three medals of valor as a cop. He is an NRA-certified law enforcement firearms instructor, an avid tactical shooter and a training junkie. When he’s not busy as a senior investigative reporter, he is usually shooting his AKs, XDs and CZs. If you don’t run into him at a local gun range, you can reach him at 941.284.8553, by email, or by regular mail to 1777 Main St., Sarasota, FL 34236. You can follow him on Twitter: @HT_GunWriter and on Facebook @The Gun Writer.

1 Comment

  1. has already deiend more than 150,000 veterans their right to bear arms. Read more here:a0 Look.a0 I’m old enough to remember that back in the bad ole days of the Soviet Union, if you

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