Uncategorized

The Stock Market Is Down Today

March 22, 2012 by 2 Comments

The headline from the Wall Street Journal at midday is “U.S. Stocks on Track for Third Decline.”

U.S. stocks fell after weak economic signals from the euro zone and China raised fresh concerns about slowing global growth.

After rising to multi-year highs in recent days, major benchmarks extended their retreat into a third session on Thursday. The Dow Jones Industrial Average declined 65 points, or 0.5%, to 13060 in midday trade.

Standard & Poor’s 500-stock index shed 9.4 points, or 0.7%, to 1393. FedEx FDX -4.29%was among the biggest decliners, after delivering a disappointing earnings outlook and cutting its economic growth forecast. The Nasdaq Composite slid 13 points, or 0.4%, to 3062.

However, you would never know that the stock market was down if you were following firearms manufacturers Ruger and Smith & Wesson.

From Active-Investor.com on Ruger today:

Sturm, Ruger & Company, Inc. (NYSE:RGR) is up 8% today at $45.68. RGR has traded 428 thousand shares this morning, about double its average volume. RGR shares are up this morning after the company announced it was not taking any new orders at this time due to overwhelming demand. The company added that it will begin taking new orders again sometime in May. The company has a market cap of 873.65 million.

And this on Smith and Wesson Holding Corporation from Active- Investor.com under the headline “Market Down Despite Jobless Claims at Four-Year Low, NASDAQ Stocks to Watch”:

Smith & Wesson Holding Corporation (NASDAQ:SWHC) is up 10.85% this morning at $7.65. SWHC is up on heavy volume today with 2 million shares traded so far, well above its daily average of 931 thousand shares. Smith & Wesson shares are rallying alongside its rivals today after Sturm, Ruger & Co. announced it has stopped taking new orders due to overwhelming demand. The company has a market cap of 503.52 million.

Investors seem to be pushing up RGR and SWHC while ignoring CSGV and VPC. Go figure.

Uncategorized

More Confirmation Of The Vitality Of The Firearms Industry

March 22, 2012 by

Sturm, Ruger announced today that they were suspending the acceptance of new orders because they had already had orders for the first quarter of over 1 million units. If one needed more confirmation that gun sales are strong and that gun ownership is expanding, this is it. While there is no breakdown of the orders, sales of Ruger’s pistols for the concealed carry market such as the LCP, LCR, and LC-9 have been strong. As Michael Bane has noted many times, these pistols are very popular with Gun Culture v. 2.0 who want a pistol for personal protection.

Sturm, Ruger & Company, Inc. Reports Strong First Quarter Bookings

March 21, 2012

Sturm, Ruger & Company, Inc. (NYSE: RGR), announced today that for the first quarter 2012, the Company has received orders for more than one million units. Therefore, the Company has temporarily suspended the acceptance of new orders.

Chief Executive Officer Michael O. Fifer made the following comments:

The Company’s Retailer Programs that were offered from January 1, 2012 through February 29, 2012 were very successful and generated significant orders from retailers to independent wholesale distributors for Ruger firearms.

* Year-to-date, the independent wholesale distributors placed orders with the Company for more than one million Ruger firearms.

*Despite the Company’s continuing successful efforts to increase production rates, the incoming order rate exceeds our capacity to rapidly fulfill these orders. Consequently, the Company has temporarily suspended the acceptance of new orders.

*The Company expects to resume the normal acceptance of orders by the end of May 2012.

The Company will announce its results and file its Quarterly Report on Form 10-Q for the first quarter of 2012 on Tuesday, May 1, 2012, after the close of the stock market.

I know it borders on rudeness to keep poking the gun prohibitionists in the eye with the truth but I hope Josh Horwitz chokes on this press release.

(In the interest of full disclosure, I am a very happy shareholder in Sturm, Ruger and Company)

Uncategorized

You’d Think They Would At Least Get One Thing Right

March 22, 2012 by 1 Comment

You’d have to be deaf and blind not to know that the Trayvon Martin shooting has gone big time in the media. As such, it is playing everywhere including a site called The Root. I wasn’t familiar with The Root so I checked its “About Us” page.

The Root is the leading online source of news and commentary from an African-American perspective. Founded in 2008 under the leadership of Prof. Henry Louis Gates Jr. of Harvard University, The Root offers a unique take on breaking news, provides solid analysis and presents dynamic multimedia content. The Root raises the profile of black voices in mainstream media and engages anyone interested in black culture around the world. The Root is owned by the Washington Post Company.

Prof. Gates you may remember was part of the Rose Garden Beer Summit involving Gates, President Obama, and the Cambridge policeman who had arrested Gates. Nonetheless, given the The Root is owned by the Washington Post Company you would expect that they would employ a fact checker or two. Alas, it is not to be.

In an op-ed by Steven Gray which combined discussion of the Trayvon Martin affair with a call for a discussion of gun policy in the United States, there was this tidbit. It is referring to S. 2188 – the National Right-to-Carry Reciprocity Act of 2012.

Here’s some contrast: On March 13 a trio of Republican senators, led by Alaska’s Mark Begich, introduced a measure to allow people to carry concealed weapons across state lines — even into states like New York and New Jersey, which don’t recognize out-of-state permits.

It gives the impression that those evil Republicans are cramming concealed carry down America’s throat right after a black teenager was shot by a concealed carry holder. But wait you say, isn’t Alaska’s Mark Begich the Democrat who beat Republican Ted Stevens? And you would be correct. Moreover, that trio of Republican senators is actually one Republican, Sen.Mike Crapo (R-ID), who is no longer a sponsor of the bill. The real sponsors of the bill are actually Democrats Joe Manchin (D-WV), Max Baucus (D-MT), and Jon Tester (D-MT) along with the aforementioned Mark Begich.

If Steven Gray is going to attack gun rights in the United States and is calling upon President Obama to veto S. 2188 if it ever gets to his desk, as a journalist he has the ethical responsibility to get his facts right. The party affiliation of Begich, Manchin, Baucus, and Tester is a fact and not an opinion. Mr. Gray can have whatever misguided opinions he wants and that is his right. However, he has no right to mislead on the facts.

Uncategorized

So Riddle Me This, Josh Horwitz

March 21, 2012 by 2 Comments

Josh Horwitz, the head of the Coalition to Stop Gun Violence (sic), is on this campaign to have you believe that, despite all the evidence to the contrary, gun ownership is declining.

The gun lobby is desperate to perpetuate its image as The Lobby That Cannot Be Crossed by Politicians in the face of a very harsh reality: Declining gun ownership in the United States.

As The Riddler used to say in the old Batman shows, “So riddle me this”. I think we can all agree that the economy is in recession. Moreover, small businesses are closing right and left due to the poor economy. So given that, why have the number of Federal Firearms Licensees been on the increase since January 2010?

According to data from the Bureau of Alcohol, Tobacco, Firearms, and Explosives, the number of 01 FFLs – dealers in firearms – has increased from 47,411 in January 2010 to 48,987 in February 2012. This is an increase of 1,576 dealers or a 3.3% increase during that time period. The days of the kitchen table FFL are, for the most part, long over due to the Clinton Administration. Thus, this means that 1,576 people thought the growth in the market for firearms was strong enough to invest their time and money into a storefront business.

You can see this in graphic form below.

So riddle me this Mr. Horwitz, if as you claim the number of gun owners is declining and that the new sales are only going to existing gun owners, why would anyone in their right mind open a new gun shop in a bad economy? The answer is that they wouldn’t. So either those 1,576 people getting new dealer licenses are delusional pawns of the gun industry or you are deliberately trying to minimize the real growth in the number of gun owners to mask the ineffectiveness of your arguments.

I vote for the latter.

Uncategorized

Hatchery-Supported Trout Waters Open April 7th In North Carolina

March 21, 2012 by

I know this has nothing to do with guns or money but I was the President of the Land O’ Sky Chapter of Trout Unlimited for a couple of years and love fly fishing. It reminds me I need to renew my license and do some more fishing this year. Given that a nice trout stream runs through the middle of The Town (My The Town), I really have no excuse other than the town father’s might consider it an athletic facility.

From the North Carolina Wildlife Resources Commission announcing the opening of trout season on hatchery-supported streams:

RALEIGH, N.C. (March 20, 2012) — The N.C. Wildlife Resources Commission will open approximately 1,100 miles of hatchery-supported trout waters in 25 western counties at 7 a.m. on April 7. The season will run until March 1, 2013.

While fishing on hatchery-supported trout waters, anglers can harvest a maximum of seven trout per day, with no minimum size limits or bait restrictions.

Hatchery-supported trout waters, marked by green-and-white signs, are stocked from March until August every year, depending on the individual stream. A list of numbers and species stocked by month and county can be found on the Commission’s website. Many of these waters are stocked monthly, although some heavily fished waters are stocked more frequently.

Balsam Lake, which was drained by the U.S. Forest Service to repair a leak in the spillway, remains closed and will not receive stockings this year.

Commission personnel will stock nearly 877,000 trout, with 96 percent of the stocked fish averaging 10 inches in length and the other fish exceeding 14 inches.

Stocked trout are primarily produced in two Mountain region fish hatcheries operated by the Commission and are distributed along hatchery-supported streams where public access for fishing is available. While hatchery-supported waters are open to public fishing, many of those miles are privately owned.

“Opportunities to fish on many of these hatchery-supported trout streams are only available through the support and generosity of landowners,” said David Deaton, fish production supervisor for the Wildlife Commission. “It’s important for anglers to respect the property that they’re fishing on and remember that landowners can take away access if they feel their property is being misused.”

Deaton said that anglers can help prevent the loss of public access to fishing by:

• Respecting private property and landowners at all times;

• Removing all trash and litter from fishing and parking areas;

• Parking only in designated areas and leaving driveways open for pass-through traffic;

• Closing and/or locking gates after use;

• Reporting wildlife violations by calling 1-800-662-7137.

For a detailed list of all hatchery-supported trout waters and regulation information, as well as trout maps and weekly stocking summaries on hatchery-supported trout waters, visit the Commission’s website, www.ncwildlife.org/fishing. Weekly stocking information appears online for seven days, and updates are posted on Fridays after fish are stocked.

Uncategorized

Senators Thune And Vitter Introduce Another Reciprocity Bill

March 21, 2012 by 1 Comment

It looks like Senators John Thune (R-SD) and David Vitter (R-LA) have made good on their intention to introduce a national right-to-carry reciprocity bill. They have introduced S. 2213 today. The title of the bill is the Respecting States’ Rights and Concealed Carry Reciprocity Act of 2012.

From their joint press release:

Mar 20 2012

Thune, Vitter Concealed Carry Reciprocity Bill Would Balance Rights of States, Individual Gun Owners

Bill would allow concealed carry in-line with state law without requiring new federal permit

Washington, D.C. –

U.S. Sens. John Thune (R-S.D.) and David Vitter (R-La.) today introduced their Respecting States’ Rights and Concealed Carry Reciprocity Act, which would guarantee the rights of gun owners to carry concealed weapons across state lines in accordance with the laws of individual states. The bill balances the constitutional rights protected by the Second Amendment with the rights of each state to enforce its own laws regarding concealed firearms.

“I am pleased to introduce legislation that strikes a balance between state’s rights and individual’s Second Amendment rights outlined by the Constitution,” said Thune. “Rather than establish a national standard, our bill will ensure that law-abiding citizens are able to carry concealed firearms while at the same time respecting the laws of the respective states they visit.”

“I think we’ve succeeded in striking an effective balance here with a bill that expands our right to bear arms but doesn’t institute a heavy-handed federal permitting system,” said Vitter. “Instead, we’re returning power to individuals and to the states by allowing Americans to carry concealed firearms in accordance with local laws. This doesn’t force states to change their laws and it doesn’t force individuals to go through yet another permitting process – the best solution to streamline a complicated problem.”

The Thune-Vitter bill would guarantee that persons who are legally permitted to have a concealed firearm according to the laws of their home state may carry such a firearm in any other state that allows concealed carry. The bill would not force Illinois and the District of Columbia, which currently prohibit concealed carry, to change their laws. The bill would also respect individual state laws regarding specific locations where firearms are prohibited.

The bill does not establish national standards for concealed carry, and it does not provide for a national carry permit, nor does it allow individual gun owners to circumvent the laws of their home states.

In July 2009, a similar version of the Thune-Vitter bill received 58 votes – two shy of passage. The current version of the bill has attracted 29 original co-sponsors in the Senate, including: Senators Kelly Ayotte (R-N.H.), John Barrasso (R-Wyo.), John Boozman (R-Ark.), Richard Burr (R-N.C.), Saxby Chambliss (R-Ga.), Tom Coburn (R-Okla.), Thad Cochran (R-Ms.), John Cornyn (R-Texas), Mike Crapo (R-Idaho), Jim DeMint (R-S.C.), Mike Enzi (R-Wyo.), Lindsey Graham (R-S.C.), Chuck Grassley (R-Iowa), Orin Hatch (R-Utah), Jim Inhofe (R-Okla.), Johnny Isakson (R-Ga.), Ron Johnson (R-Wis.), Mike Lee (R-Utah), Dick Lugar (R-Ind.), Mitch McConnell (R-Kent.), Jerry Moran (R-Kan.) Rand Paul (R-Kent.), Rob Portman (R-Ohio), Jim Risch (R-Idaho), Pat Roberts (R-Kan.), Marco Rubio (R-Fl.), Jeff Sessions (R-Ala.), Pat Toomey (R-Pa.), and Roger Wicker (R-Ms.).

The bill is supported by numerous groups including the National Rifle Association, Gun Owners of America, National Shooting Sports Foundation, Passenger-Cargo Security Group, and Women Against Gun Control.

 The text of the bill is not up yet but I imagine it will be nearly identical to the bill introduced in 2009 that almost passed the Senate. The text of S. 845 from the 111th Congress can be found here.

 In the original release regarding the competing bill, S. 2188, it listed the sponsors as Senators Mark Begich (D-AK), Joe Manchin (D-WV), and Mike Crapo (R-ID). You will notice that in the list of co-sponsors above – all Republicans – that Mike Crapo is listed as a co-sponsor. When I checked the Library of Congress’s Thomas legislative information site, the only sponsors and co-sponsors of S. 2188 are Begich and Manchin as well as the two pro-gun Democrats from Montana, Tester and Baucus. Mike Crapo’s name does not appear as a co-sponsor.

This is just speculation on my part but I imagine Crapo’s arm was twisted in the name of party solidarity. If a bill such as this is going to pass – and I’m not sure it will get through the Senate – it will need to have support from both Democrats and Republicans. It will also need some support from the Senate leadership to get out of the Judiciary Committee and to the floor of the Senate. That is also iffy.

Uncategorized

Why Does The Brady Campaign Want To Keep Gays Defenseless?

March 19, 2012 by 2 Comments

The oral arguments before the 10th Circuit Court of Appeals in the case Peterson v. Garcia et al are being held this afternoon in Denver. The case involves the attempt by Gray Peterson to obtain a concealed carry permit in Colorado as that state does not recognize his Washington State permit. For those that are unaware of Mr. Peterson and this case, he is gay and is a strong advocate of Second Amendment rights.

While the primary oral arguments will be made by John Monroe, attorney for Mr. Peterson, and the Colorado Attorney General’s Office, the Court of Appeals has allowed extra time for oral arguments by certain amici (friends of the court) in this case. Alan Gura will be representing the Second Amendment Foundation and a whole host of groups which include among others Illinois Carry, ISRA, and CalGuns. The NRA Civil Rights Defense Fund will be represented by Matt Bower of the NRA and the Brady Campaign will be represented by Jonathan Lowy.

As might be expected from the gun prohibitionists, they are portraying this as a battle between the good Brady Campaign and the evil NRA to prevent “guns in the streets.” From their press release:

Attorneys for the Brady Center and the NRA (National Rifle Association) will face off in a first-in-the-nation case before the U.S. Court of Appeals for the 10th Circuit in Denver, Colorado Monday, March 19. The case, Peterson v. Garcia, will decide whether the Constitution allows Colorado to protect public safety by continuing its policy of regulating who can carry loaded and concealable guns in public.

Senior Judge Walker D. Miller of the U.S. District Court for the District of Colorado dismissed the original case on March 8, 2011.The gun lobby then appealed to the 10th Circuit.

The Brady Center filed an amicus brief on July 19, 2011, in the U.S. Court of Appeals for the 10th Circuit, urging dismissal of the appeal. The Brady Center’s brief highlights the severe danger posed by concealed weapons, with studies showing that the carrying of guns in public does not make one safer, but instead increases the risks of death and injury. Brady believes that communities should be able to decide who can carry loaded guns on their streets, and in their parks and playgrounds.

Dangerous legislation has been introduced in Congress to force states like Colorado to honor concealed weapon licenses granted by other states, even by states with virtually no standards for concealed carry, and that allow carrying by people with violent pasts.

Notice that there is no mention in this release – and I presume none in their brief – that this case is really about a gay man wishing to protect himself from predators. I’d like to think that at least some of the the Brady Campaign’s donors might be appalled – and rightfully so – if they knew this.

Uncategorized

I Think The Tool Is the Assemblywoman

March 18, 2012 by 1 Comment

I stumbled across a pro-microstamping op-ed by NY State Assembywoman Michelle Schimel today. She was the primary sponsor of A.01157 which would require any semi-automatic pistol manufactured or delivered to an FFL in the State of New York to be capable microstamping ammunition. This act passed the New York State Assembly in 2011, died in the State Senate, was returned to the Assembly, and has been passed again.

Assemblywoman Schimel wrote on the bill:

Microstamping allows law enforcement to trace firearms through shell casings found at crime scenes, even if the crime gun is never found. In passing microstamping, the Assembly heeded the call of gun violence victims and their families, anti-crime advocates, and law enforcement who have called for microstamping to be enacted in the budget due to be completed by the end of the month.

Microstamping is about public safety and placing criminals behind bars. This technology will save taxpayers’ dollars by enabling law enforcement to solve gun crimes quicker. At a time when government has to save money and be more efficient, microstamping will help reduce the number of man-hours needed to solve gun crimes. I praise my Assembly colleagues for realizing the urgent need for microstamping in New York State, and I strongly urge the State Senate and Governor to join us and include it in the final budget.

 In her official Assembly biography, she calls this her proudest legislative accomplishment. Given her background, I’m guessing she would.

A lifelong community activist, Michelle serves on the board of New Yorkers Against Gun Violence (NYAGV), the largest citizens’ group in New York State dedicated to reducing gun-related violence. In 1995, as Vice President and member of the Executive Board of NYAGV, Michelle and Congresswoman Carolyn McCarthy co-founded the Long Island Chapter.

Independent, peer-reviewed research has shown that this so-called tool for law enforcement is unreliable. The University of California-Davis Forensic Science Graduate Group stated in reference to California’s law that “a mandate for implementation of this technology in all semiautomatic handguns in the state of California be made. Further testing, analysis and evaluation is required.”

The NSSF has called this “a flawed concept that is being pushed as a backdoor way to ban handguns” and I would agree.

After looking at the research, I would have to conclude that the tool in question is Assemblywoman Schimel and those who have voted in favor of this bill.

Uncategorized

Hey, Eric! Did You Really Say “Brainwash”?

March 18, 2012 by 1 Comment

Yes, he did.

Thanks to Breitbart.com and their “Vetting” project, we have video proof that then-U.S. Attorney (and current Attorney General) Eric Holder actually did say that there needs to be a campaign to “really brainwash people into thinking about guns in a vastly different way.” He made these comments in 1995 during a speech to the Woman’s National Democratic Club.

Holder was calling upon the media and advertising community to help build a campaign to treat firearms like cigarettes.

“What we need to do is change the way in which people think about guns, especially young people, and make it something that’s not cool, that it’s not acceptable, it’s not hip to carry a gun anymore, in the way in which we changed our attitudes about cigarettes.”

Holder added that he had asked advertising agencies in the nation’s capital to assist by making anti-gun ads rather than commercials “that make me buy things that I don’t really need.” He had also approached local newspapers and television stations, he said, asking them to devote prime space and time, respectively, to his anti-gun campaign.

Local political leaders and celebrities, Holder said, including Mayor Marion Barry and Jesse Jackson, had been asked to help. In addition, he reported, he had asked the local school board to make the anti-gun message a part of “every day, every school, and every level.”

Frankly, I found his call to indoctrinate children by bombarding them with this message rather chilling. It is reminiscent of efforts by every totalitarian regime – from Hitler to Stalin to Mao – to use the educational system as a means for control.