Ruger Responds to Successful ‘Gun Safety’ Shareholder Vote

[GodFearinGunTotin]

Ruger Responds to Successful 'Gun Safety' Shareholder Vote - The Truth About Guns

Because the proposal passed . . .

Now, Ruger must produce a report by February that addresses how it tracks violence associated with its firearms, what kind of research it is conducting related to so-called smart gun technology (such as using thumbprint readers, like those used on smartphones) and its assessment of the risks that gun-related crimes pose to the company’s reputation and finances.

Later in the article, Ruger says they have to prepare a report and that's all they're going to do.

 

[Cameramonkey]

I liked one respondent to the article:

mark_anthony_78 says:
May 9, 2018 at 19:43
Why fill a whole page?
A) We don’t track s**t. That’s the FBI’s job.
B) We think smart guns suck.
C) Gun crime has no effect on our business. Threats of gun control due to gun crime, however, increases sales.
The End

 

[cosermann]

Nice response by Ruger. I like the subtle "long term shareholders" reference in the reply - that is to say, they couldn't care less about what short-term, activist shareholders think.

 

[Hookeye]

So as a shareholder in the Christian faith, can I demand a letter from the nuns on how they will monitor their fellow Catholics/priests regarding child safety?

 

[Cygnus]

So as a shareholder in the Christian faith, can I demand a letter from the nuns on how they will monitor their fellow Catholics/priests regarding child safety?

Sadly, the response will kinda mirror this: (Item A works with no edit)

Why fill a whole page?
A) We don’t track s**t. That’s the FBI’s job.
B) We think smart guns suck.
C) Gun crime has no effect on our business. Threats of gun control due to gun crime, however, increases sales.
The End

 

[Kirk Freeman]

Smart guns? Still?

Smart guns were such a debacle that the gun industry let it die.

https://www.npr.org/2016/04/07/473416699/how-an-idea-to-develop-a-safer-smart-gun-backfired

 

[CallSign Snafu]

And if those nuns don't like the report they can sell their shares. Remember too, in order to sell shares someone has to be willing to buy them.

 

[gmcttr]

Smart guns? Still?...

If my smart phone is any indicator, a smart gun with fingerprint technology would be outstanding!

Bad guy comes at me, I draw and place finger on the reader, nothing...try a second time, nothing...it prompts me for a pin number, bad guy takes gun from me and proceeds to beat me unconscious with it. Sounds like a solid plan to me. ​

 

[Mark 1911]

Ruger should just save themselves a lot of money and say, here's our report, "smart gun" technology is unsafe because it will get people killed. End of story.

 

[LP1]

Just a few thoughts:
1) How did a few activist shareholders get enough shares to get the resolution approved? Since the other resolution didn't get approved, it sounds like enough other shareholders got on board with the idea.
2) Although I think the requests are foolish, I have mixed feelings about a corporation not taking seriously a resolution that was passed by a majority of the voting shares. Not taking such a request seriously makes a mockery of the shareholders and of the ownership structure. If a judgement is being made that some shareholders don't deserve a voice, then perhaps Ruger should take itself private.
3) Rather than just writing a brief, snarky report, I would like to see Ruger do a thorough and thoughtful treatment of the topic.

 

[Hawkeye7br]

I hate the idea of a few people who attend a meeting to vote for what is of no interest to the business. That's what Board of Directors is for. I hate it when 3 guys show up once a year to our conservation club meeting and want to know why we don't have a boat ramp or sponsor a fishing contest. Ruger is in the business of selling guns, not the business of tracking gun crime. As a taxpayer, I can attend city council meetings, but they don't let me vote.

 

[GodFearinGunTotin]

There is a thing called malicious compliance. A report is a report. An expensive, comprehensive, exhaustively researched and peer reviewed paper is just as much fitting the definition of the word "report" as assigning a summer intern to scan the facts-on-file of a few newspaper sites or the DGU section of the NRA magazine and summarizing the findings. Guess which one I'd do...

 

[cobber]

Deduct the cost of the report from the annual dividend, and slate the issue for the next annual meeting.

 

[Expat]

Most shareholders never vote. I remember one company's stock that I owned had to hire some outside company to try to drum up shareholder votes because they didn't even get the required minimum which was something like 10% of outstanding shares to vote for the slate of officers.