Judge Harlin Hale has not rendered a decision yet in the NRA’s Chapter 11 bankruptcy case.
Every hour or so today I would check the Federal court’s online website called Pacer to see if anything new related to the case had been filed. The only filing today was by an attorney who wanted to be admitted before the court.
I will keep a watch going tomorrow and every day afterwards until a decision is released.
In the meantime, the blog NRA In Danger has three new posts that are worth reading. The first deals with Wayne, the second with the Board, and the third with the timing of the debacle. I don’t know who is writing that blog but their observations are spot-on.
From the first, LaPierre was in far over his head. He was educated in politics and made his living in lobbying. He had zero training and experience in lobbying, and now he the supreme leader of what became a $350 million a year corporation. It was as if you took a not-particularly-bright private and gave him command of a brigade. “What do I do now?”
La Pierre’s handlers, the real power. He reacted by relying on “handlers” and hoping they knew how to handle things. They made all his decisions. In theory the board elected LaPierre EVP, in fact they elected his handlers, Angus McQueen and later Bill Brewer. He became a figurehead while they dictated his decisions.
On the Board:
For most, it is the highest achievement of their life, their greatest boast, and so it is something to be protected at all cost.
Both of these observations perfectly correlate with what I’ve been told by former directors and other insiders. I don’t know what Judge Hale is going to rule but I really hope that he doesn’t accept the reorganization plan as it now stands nor does he leave Wayne in charge minus an overseer.