By Joseph P. Tartaro | Executive Editor
Big US pension funds and private money managers controlling $4.8 trillion in investor assets are asking gun makers, dealers, retailers and others involved in the firearm industry to engage with them on a set of principles they have developed to promote “gun safety,” CNBC has reported.
The investors, from big public pensions like the California Public Employees Retirement System and the Florida State Board of Administration, to private firms like Nuveen, which manages assets for TIAA, and State Street Global Advisors, released their five principles in a prepared statement.
Cimarron and Pietta Firearms honor Chuck Norris
Cimarron Firearms founder and president, Mike Harvey, Jamie and Bryce Wayt (VP of media and operations respectively) were in attendance at the Former Texas Rangers Foundation Gala held Oct. 13 at the Embassy Suites, in San Marcos, TXs. The annual event raises funds for the support of the Former Texas Ranger Heritage museum and continues to promote the true history of the organization and the true characteristics of the Texas Rangers. As part of this year’s event, actor, martial artist, writer and producer, Chuck Norris participated as a special speaker. In recognition of Chuck Norris’ love all things western, his long running television series “Walker Texas Ranger,” and his strong stance on protecting the Second Amendment, Cimarron Firearms, in partnership with Pietta Firearms, presented Norris with a customized version of Cimarron’s Texas Ranger Frontier revolver with a special serial number.
They want gun makers to support the development of technology that would make guns safer, enforce “responsible dealer standards” and promote education and training in firearm safety. They also want gun dealers and retailers to follow best practices in background checks to prevent the sale of weapons to people who aren’t supposed to have them and to train their employees to monitor irregularities at the point of sale.
It is the latest move by big investors to influence the debate on gun safety, making the argument that guns carry risks that are bad for shareholders of the companies involved in the firearm industry.
“This is not a political statement about constitutional rights, it is a joint assertion by all of the involved signatories that investors have a stake in advancing public safety,” said Christopher Ailman, the chief investment officer of the California State Teachers Retirement System (CalSTRS), which also signed the statement.
In May, CalSTRS said it would engage with gun makers and sellers and possibly divest of their stocks if those efforts failed.
That move came shortly after the mass shooting at a Florida high school that, at the time, put the debate about gun control back on the national agenda.
Activists have been putting pressure on gun makers and retailers this year. Faith-based groups won shareholder proposals at Sturm Ruger and American Outdoor Brands, the parent of Smith & Wesson. The companies have to put together reports on whether they are adequately addressing the risks that their products are associated with gun violence and to show that they are looking at ways to make safer guns.
CNBC reported that major institutional shareholders like BlackRock backed the activist groups, as did major proxy advisory firms like Institutional Shareholder Services and Glass Lewis.
The pressure from the investment management groups appears to be part of the gun control maneuvers imposed earlier this year by big retailers like Walmart, Dick’s Sporting Guns and Levi Strauss as well as several big banks.
CalSTRS, with a $222 billion portfolio, representing nearly 1 million public school teachers in California, has reportedly already sold its holdings in Sturm Ruger, Smith & Wesson, Remington Outdoors and Vista Outdoors.
Ruger 3rd quarter report
Sturm, Ruger & Company, Inc. announced recently that for the third quarter of 2018 the company reported net sales of $114.9 million and diluted earnings of 52¢ per share, compared with net sales of $104.8 million and diluted earnings of 53¢ per share in the third quarter of 2017, a 10 percent increase over the prior year quarter.
For the nine months ended Sept. 29, 2018, net sales were $374.5 million and diluted earnings were $2.19 per share. For the corresponding period in 2017, net sales were $404.0 million and diluted earnings were $2.32 per share.
Chief Executive Officer Christopher J. Killoy made the following observations related to the company’s 2018 third quarter performance:
In the third quarter of 2018, net sales increased 10% from the third quarter of 2017.
NASGW Awards
At the National Association of Sporting Goods Wholesalers (NASGW) show in Pittsburgh, Ruger was recognized as Firearms Manufacturer of the Year for the twelfth consecutive year and as Firearms Innovator of the Year for the third time.
Over 500 NASGW members met on October 16 in Pittsburgh at the Annual Awards Dinner and Reception for the presentation of awards.
The Firearms Manufacturer of the Year recipient is determined by NASGW members who evaluate the performance of manufacturers on four key criteria: distribution policy; marketing, promotions and sales; logistics and operations; and NASGW and industry support. This assessment of manufacturer performance is designed to provide a balanced appraisal that recognizes the best manufacturer in its category according to NASGW members.
The Firearms Innovator of the Year award is given to the company that is committed to developing unique products, services or strategies that set that company apart from its competitors; has made an outstanding contribution in furthering the image and development of shooting sports; enhances and increases significantly the growth and expansion of shooting sports; and actively supports NASGW and its wholesaler member firms.
Sig Sauer Inc. was honored with three awards at the NASGW dinner starting with a Leadership Award for “Innovator of the Year.”
The Sig Sauer Electro-Optics Ballistic Data Xchange System (BDX) and the SIG SAUER P365 pistol were each honored with a 2018 NASGW-POMA Caliber Award. The NASGW-POMA Caliber Awards are a partnership between the NASGW and the Professional Outdoor Media Association (POMA) to recognize new and innovative products within the sporting goods industry for the year. Products are submitted by manufacturers for each category and evaluated on the following criteria: uniqueness, market need, the value of the product, ingenuity, and presentation.
The Sig P365 pistol earned the highest honor amongst the 2018 NASGW-POMA Caliber Awards for “Best New Overall Product.” The P365 is an everyday, concealed carry pistol. The high-capacity, micro-compact pistol is smaller and lighter than other pistols in its class. It features a patented, modified double-stack magazine for a 10+1 full-size capacity, with a 12-round factory-made magazine available for 13-round capacity.
This is the first NASGW Leadership Award for Sig Sauer, and the second and third NASGW-POMA Caliber Awards for the company’s products. In 2017 the Sig Sauer P320 X-Carry received the NASGW-POMA Award for “Best New Handgun.”
Fallen officer program
Kahr Firearms Group has announced the launch of the Fallen Officer Program. Through the Fallen Officer Program, Kahr will donate a Thin Blue Line model PM9 customized with the fallen officer’s name on the side of the slide, and his or her badge number and “end of watch” date engraved on the top of the slide. The gun can then be used to raise money for the family or remain with the family as a keepsake.
Kahr Arms now has applications available for the 2018 program, honoring officers who have fallen during the 2018 calendar year. The application may be submitted by the law enforcement department or by family or friends of the fallen officer. To request an application, email fallenofficer@kahr.com. Applications will also be available on the website at kahr.com.
“At Kahr Firearms Group, we wanted to continue to show our support to the great men and women of law enforcement. This program is an opportunity for us to help the families of those officers who gave the ultimate sacrifice. We are pleased to announce the launch of the Fallen Officer program offered by Kahr Arms,” said Jodi DePorter, director of marketing for Kahr Firearms Group.
The “Thin Blue Line” PM9 slide is finished in durable Armor Black Cerakote. All other exposed metal parts are blacked out, and a blue line is added encircling the slide. This special model comes equipped with easy-to-see TruGlo Tactical Night Sights. Two flush mount six-round magazines and one seven-round extended magazine are included. Each of which have been blackened for concealability. As with all Kahr Premium Series firearms, a full limited lifetime warranty is included.
For more information about Kahr products or the Thin Blue Line program, visit online at: kahr.com.
