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Gun industry execs admit business booms after mass shootings

NEW YORK DAILY NEWS

Thursday, December 3, 2015, 3:56 PM

At various gun industry events, some executives admitted that mass shootings, such as the one at Sandy Hook, create surges in gun sales.Seth Wenig/AP

At various gun industry events, some executives admitted that mass shootings, such as the one at Sandy Hook, create surges in gun sales.

The dirty little secret behind mass shootings across the country is that the gun industry is cashing in on them.

And the executives admit it.

“The gun business was very much accelerated based on what happened after the election and then the tragedy that happened at Sandy Hook,” said Ed Stack, the chief executive of Dick’s Sporting Goods, a leading gun and ammunition retailer.

“You can see after a tragedy, there’s also a lot of buying,” said Jeff Buchanan, the chief financial officer of Smith & Wesson.

The seemingly callous comments were made not to the public, but behind closed doors at various industry events, according to The Intercept.

Citing investor transcripts for gun companies, ammunition manufacturers, and sporting goods stores, the website quoted executives making some of the most heartless remarks about profit.

EDITORIAL: WHEN WILL AMERICA WAKE UP?

The CFO of Smith & Wesson admitted that “there’s a lot of buying” after a tragedy.Daniel Acker/Bloomberg

The CFO of Smith & Wesson admitted that “there’s a lot of buying” after a tragedy.

Last year, Tommy Millner, the chief executive of Cabela’s, a retailer that sells guns, boasted at an investor conference in Nebraska that his company made a “conscious decision” to stock additional weapons merchandise before the 2012 election, hoping Obama’s reelection would result in increased sales.

Not only was Obama reelected, but a gunman opened fire months later at Sandy Hook elementary school, and “the business went vertical.”

“I meant it just went crazy,” Millner said, according to a transcript of the event

Millner went on to describe the “tailwinds of profitability,” noting that Cabela’s “didn’t blink as others did to stop selling AR-15 platform guns.”

As a result, his company “got a lot of new customers.”

The AR-15 is a high-powered assault rifle based on the military’s M-16 model but without the full automatic capacity.

The comments were denounced by the Washington D.C.-based Coalition to Stop Gun Violence.

“Repugnant statements by gun industry executives saying mass shootings are good for business,” the organization said in a tweet.

Tags:
gun control ,
barack obama ,
mass murder


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