Another interesting development in the firearms debate happened this week. And if this doesn't convince you that the NRA's only interest is in the health of the gun manufacturing industry, nothing will.
All of the sudden, modest gun control restrictions are being adopted everywhere, the latest being Florida's governor signing several gun restriction laws today. You might think lawmakers are finally listening to their constituents after the Parkland shootings. but there is another explanation for the Republicans' talk of modest gun restrictions: MONEY.
Gun manufacturers are in the midst of the worst business crisis in decades, with double digit sales drops driving some to the brink of bankruptcy. The NRA, which gets much of its funding from major gunmakers, is trying to help. Nothing gooses gun sales like the threat of new gun control measures. The NRA has given lawmakers the green light to float new gun limits without the threat of retribution. Debating and introducing gun control policies are good for business.
It may seem counter-intuitive that gun manufacturers have suffered during Trump's first year, but firearms sales are down across the industry. The combined revenues of Strum, Ruger & Co, Vista Outdoors, Winchester, Remington, and American Outdoor Brands (formerly Smith & Wesson) fell 13% in 2017. It's the largest year-over-year drop since 2000. Gunmakers have cut back production and slashed payrolls as a result. And the slide shows no signs of stopping. Two days before Parkland, Remington announced it would seek chapter 11 bankruptcy protection after its sales took a 30% nosedive.
As it turns out, in the gun industry fear is good for the bottom line. Under Obama, gun owners rushed to buy firepower they feared was going to be outlawed (which never happened). When Trump took office, gun owners thought they had everything they needed. The stockpiling mentality died, and along with it, gun sales. Last October, the month a shooter killed 58 and injured 851 at a Las Vegas concert - the deadliest mass shooting in US history - background checks were down 13% from the previous year. Nobody thought they needed to go buy more guns.
So it's a little ironic that the NRA spent $54M in 2016 to help Trump and other gun friendly Republicans get elected. Now the entire industry is threatened. Had Hillary won, gun sales would be soaring right now. It's clear that gun manufacturing management are a bunch of amateurs. They don't understand their market nor their customers. If you own any of their stock, dump it now.
Keep in mind that 41 of the 76 NRA board members either come from, or are connected to, the firearms manufacturing industry. So the next time you hear the NRA crowing about protecting the second amendment, remember that their values are indeed for sale, and their love for money trumps any thoughts of protecting 2A rights.