Month: May 2012

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FoxNews On Possible Contempt Citation Of Holder

May 3, 2012 by

William LaJeunesse, one of only two network reporters who have consistently followed Project Gunwalker, had a report earlier today on the draft contempt citation for Eric Holder that the House Oversight and Government Reform Committee has started circulating among House members. LaJeunesse says the draft lays out the case for the citation and notes that no documents have been received by the committee in 12 categories.

LaJeunesse speculates that Committee Chairman Darrell Issa (R-CA) would not have started to circulate this draft contempt citation unless he had the backing of Speaker John Boehner and the votes on the committee to pass the citation. He does note that others are saying that John Boehner and Majority Leader Eric Cantor are still not on board with the contempt citation. If the latter is correct, I say it is past time for them to get on board with it.

Watch the latest video at video.foxnews.com

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Grassley On Contempt Charges For Holder

May 3, 2012 by 1 Comment

With news that a draft contempt citation for Attorney General Eric Holder is circulating among members of the House of Representatives, Sen. Chuck Grassley (R-IA), who has been doggedly pursuing the facts in Project Gunwalker since it first came to light, released a statement concerning it.

From Sen. Grassley’s office:

Senator Chuck Grassley, Ranking Member of the Senate Judiciary Committee, released the following statement after information from the House Oversight and Government Reform Committee indicated a possible vote about holding Attorney General Eric Holder in contempt of Congress. Holder has refused to provide subpoenaed documents related to the congressional investigation of Operation Fast and Furious.

Grassley first began investigating alleged gunwalking in January 2011 after whistleblowers came forward to alert Congress about gunwalking in Arizona. The Justice Department and Attorney General Eric Holder initially denied gunwalking occurred, but have since withdrawn the denials and admitted that ATF whistlebowers were right to complain about the reckless tactic. Despite the constitutional responsibility of Congress to conduct oversight of the executive branch, the Justice Department has stonewalled every step of the investigation. In fact, the Justice Department has provided 80,000 pages of documents to the Inspector General in connection with its investigation of Operation Fast and Furious, but has provided only 6,000 pages of documents to Congress. The department has provided no legal justification for withholding each of those 74,000 pages.

“The subpoena authority of the House Oversight Committee, and the Chairman’s willingness to use it, helped shed light on Operation Fast and Furious and the Justice Department’s desire to allow guns to walk into the hands of Mexican drug cartels. Congressman Issa deserves credit for moving forward on contempt. The Attorney General and the Justice Department are thumbing their nose at the constitutional authority provided to the legislative branch to conduct oversight.

“The Attorney General is facing a real test of leadership here. He has a choice to make. He can force the department to come clean, or he can force a high-stakes political conflict between the legislative and executive branches. It’s past time to hold accountable those public officials responsible for our own government’s role in walking guns into the hands of criminals. The family of Agent Terry deserves more than what they’re getting from this administration.”

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Army Selects Manufacturers To Go Forward In Individual Carbine Competition

May 3, 2012 by 3 Comments

The US Army is taking a two-pronged approach to upgrading and ultimately replacing their current M4 carbine. As seen in the slide below, one prong is to update the current M4 with a heavier barrel, full auto trigger assembly, and an ambidextrous fire control assembly. Concurrently, the Army is also in the process of deciding on an eventual replacement for the M4 carbine.

The Army has just finished the first phase of the Individual Carbine competition. In the first phase, they evaluated the vendors who had expressed interest in competing on their production capacity. In other words, the Army weeded out those companies it felt could not deliver the goods.

According to a story in Military.com, the Army has started to send out letters to those manufacturers who will be invited to participate in Phase II.

Colt Defense LLC, Heckler & Koch, Remington Arms Company and Adcor Defense Inc., received letters from the Army telling them they have been selected to move on to Phase II of the IC.

FNH USA had not yet responded to Military.com as to whether it remains in the competition.

Army officials confirmed that Phase II letters have been sent out, but said that federal acquisition guidelines prevent the service from commenting on how many companies will advance to Phase II and which firms did not make the cut.

Phase II is scheduled to last into the 1st Quarter of 2013 and will involved the testing of prototype carbines submitted by the winners. Military.com notes that testing will involve “the shooting of hundreds of thousands of rounds through the test weapons to assess accuracy, reliability and durability.” At the end of this phase, three vendors will be selected to go forward.

Despite the competition to find a replacement for the M4 carbine, the Army may end up not going into production with any of the winners due to budget constraints. Indeed, there was much speculation earlier in the year that they would cancel the competition altogether due to forecast budget constraints over the next decade.

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A Hit To Carry Reciprocity In The Southwest (Updated)

May 2, 2012 by 16 Comments

The State of New Mexico has stopped honoring carry permits from 13 other states in the last two weeks according to a report on Handgunlaw.us. I don’t see much good that will come of this especially for the residents of the Land of Enchantment.

Notice: New Mexico has stopped honoring 13 other states Permit/Licenses in the last Couple weeks. Many of those states will stop honoring a New Mexico Permit/License. If you are a New Mexico Permit holder Handgunlaw.us advises you to call ahead to make sure your New Mexico Permit is honored. Below is the list of states that New Mexico DPS is reporting they will honor.

Missouri
Nebraska
North Carolina
North Dakota
Oklahoma

Gary Slider, co-owner of Handgunlaw.us, posted a longer message on the SIGForum regarding the move by the State of New Mexico Department of Public Safety. It had been reposted on the NC Gun Owners forum.

New Mexico has dropped Arkansas, Colorado, Delaware, Kansas, Louisiana, Michigan, Ohio, Tennessee, Texas & West Virginia from the list of states they honored.

New Mexico will now only honor 5 states which are Missouri, Nebraska, North Carolina, North Dakota & Oklahoma.

Of the states they dropped.
Colorado, Delaware, Louisiana, Ohio and West Virginia will drop New Mexico for sure as these states require Signed Agreements or the other state must honor them before they will honor that state.

Arkansas and Texas will most likely drop New Mexico but I am not 100% positive on that but 99% sure they will from what both states have done in the past.

Kansas will continue to honor New Mexico as they list states they will honor based on a states law being similar to theirs without the other state honoring them.

Michigan & Tennessee honor all other states and will continue to honor New Mexico.

William Hubbard is the new man in charge of the NMPDS Concealed Carry Unit. He is the one making these decisions. From what I understand he is the one who is appointed by law to make the decisions. This major change by one person is most likely making huge waves in New Mexico. We will never learn just how big of waves but I believe there is a tsunami brewing.

Every state that boarders (sic) New Mexico except for Oklahoma which only has the Tip of its Panhandle touching New Mexico are now not welcome in New Mexico if they carry a firearm. All those citizens were welcome in the not to distant past. Also Colorado and most likely Texas will drop New Mexico and then citizens of New Mexico will not be welcome in those states if they want to carry their defensive firearm. That will cause a lot of calls, emails and letters to start flowing to politicians and an election is coming up. Those Politicians don’t want any waves right now that they don’t need. So it will be very interesting to see what happens in the coming weeks. I am hoping for the best. I also what to say I don’t know anymore about the Why’s of this any more than you do.

I am updating all the States pages at http://www.handgunlaw.us to reflect this change in who New Mexico Honors and who will honor them. It is a lot of work and hoping to get it all up late this evening. I have just returned from a weekend away. The Create a Map Application is the tough job. To make a state blue showing it honors another state is simple. To change it to show it doesn’t honor it any longer requires Steve to completely rebuild a new map for each state. That change will not happen for awhile and I will put that info on the Notice Page for the Create a Map Application.

FYI

NMDPS Concealed Carry Unit
6301 Indian School Rd NE Ste. 310
Albuquerque, NM 87110
(505) 841-8053

http://www.dps.nm.org/index.php/nm-concealed-carry/

UPDATE: Gary Slider, co-owner of handgunlaw.us, reports that New Mexico has reinstated 14 of the states dropped. I appreciate his updating us on the reinstatements.

 Here is what he says in the comments below:

New Mexico has reposted on their website most of the states they dropped and will honor them. There was a lot of pressure put on people to honor the states again. You can view what they are saying at their website at:
http://www.dps.nm.org/index.php/nm-concealed-carry/reciprocity-agreements/

As we continue our audit and make changes accordingly, this page will be updated to reflect the most current information. This information is current as of May 1, 2012

New Mexico currently recognizes concealed carry permits from or has reciprocal agreements with the following states: Arizona, Arkansas, Colorado, Delaware, Florida, Kansas, Louisiana, Michigan, Mississippi, Missouri, Nebraska, North Carolina, North Dakota, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.

Gary Slider
Co-Owner www.handgunlaw.us

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Ruger Has Stellar Quarter

May 2, 2012 by

The gun prohibitionists are desperate to promote the meme that the growth in NICS checks do not accurately reflect the growth in firearm sales. Unfortunately, they just cannot ignore financial statement releases from public companies such as Sturm, Ruger & Co. Financial statement releases from public companies are not only released to the public but filed with the Securities and Exchange Commission. They must be accurate unlike any statement made by the likes of CSGV and other gun prohibitionists.

Yesterday, after the close of the stock market, Ruger released its first quarter results and they were impressive. Their net earnings per share – profit – nearly doubled as compared to the same quarter in 2011. Moreover, they have orders in hand for 1.2 million firearms which exceed the number shipped in 2011.

The highlights of the results as pointed out by Ruger CEO Michael Fifer:

  • Our earnings nearly doubled from the first quarter of 2011, driven by the 49% growth in sales and our ongoing focus on continuous improvement in our operations.
  • New product introductions were a significant component of our sales growth as new product sales represented $40.8 million or 37% of sales in the first quarter of 2012. New product introductions in the first quarter of 2012 included:
    • Ruger American Rifle
    • SR22 pistol
    • 10/22 Take Down rifle
  • The estimated sell-through of our products from independent distributors to retailers in 2012 increased 62% from the first quarter of 2011. During this period, National Instant Criminal Background Check System (“NICS”) background checks (as adjusted by the National Shooting Sports Foundation) increased 23%.
  • On March 21, 2012, the Company announced that it temporarily suspended the acceptance of new orders. In the first quarter of 2012, orders for 1.2 million units were received by the Company, which exceeded the total units shipped during 2011. The Company anticipates resuming the acceptance of orders at the end of May 2012.
  • Cash generated from operations during the first quarter of 2012 was $21.8 million. At March 31, 2012, our cash, cash equivalents, and short-term investments totaled $95.8 million, an increase of $14.7 million from December 2011. Our current ratio is 3.1 to 1 and we have no debt.
  • In the first quarter of 2012, capital expenditures totaled $3.0 million. We expect to invest approximately $20 million for capital expenditures during 2012.
  • At March 31, 2012, stockholders’ equity was $149.8 million, which equates to a book value of $7.82 per share, of which $5.01 per share was cash and equivalents.
  • On March 31, 2012, the Company completed the fourth and final quarter of its “1.2 Million Gun Challenge to Benefit the NRA.” During this year-long challenge, Ruger donated a total of $1,253,700 to the NRA. We believe that Ruger is the first firearms manufacturer to build and ship more than one million firearms in one year.

The financial tables that accompanied this release can be found here.

I am not an accountant but I generally can understand balance sheets, income statements, and statements of cash flows. Just looking at a few key items you see that their cash from operations increased by over $1 million dollars as compared to the same quarter in 2011, their net inventories are down, and their allowance for obsolete or slow moving inventory fell by almost 60%. The last two items tell me that not only are firearms flying out the door but Ruger is making mostly what people want.

If you have the time and the inclination, you can listen in on Ruger’s Annual Meeting which is today and starts at 9am. I’m sure you will hear lots of cheers from shareholders. If I could have been in New Hampshire today, I would have been one of those cheering the loudest as the stock is trading near its all time high and the quarterly dividend just tripled.

For instructions on how to view or listen to the annual meeting, go here.

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Crimson Trace Announces Laserguard For The M&P Shield

May 1, 2012 by

Crimson Trace has unveiled a prototype Laserguard for the Smith and Wesson M&P Shield. They expect that production units will be ready to ship in the third quarter of this year.

From Iain Harrison:

(Wilsonville, OR) The hottest new pistol at the NRA Annual Meetings will soon have the ultimate in integrated laser sighting solutions for conceal carry and personal protection, befitting the M&P Brand. Crimson Trace today announced the newest prototype from their in-house design and engineering team – a Laserguard® for the single stack M&P Shield in 9mm and 40S&W. At a targeted MSRP of $219, the new sight features their patented instinctive activation that allows the use to activate the laser by simply taking a natural firing grip, with no additional switches to press. Available via their regular dealer network and other channels of distribution, the Shield Laserguard will be officially launched in Q3.

Matching the lines and contours of the Shield, while adding almost no bulk to the weapon, the Laserguard wraps around the pistol’s trigger guard and index on the frame for a seamless, no-gunsmithing fit. Each comes zeroed from the factory at 50 feet and is equipped with windage and elevation screws so that the user can fine tune the system to their own firearm and ammunition and the each unit offers a 4 hour run time on one user-replaceable battery. “We’ve been working with Smith and Wesson on the Shield since the early days of its development,” said Michael Caulk, Director of Engineering for Crimson Trace. “We’re excited to be able to offer Shield owners the industry’s best and most trusted laser sighting design for this excellent compact pistol.”

A picture of the prototype can be seen below.

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Women And Shooting…In Chicago

May 1, 2012 by

We don’t often associate positive media stories about women shooters with Chicago but CBS Chicago ran a story yesterday about the growth of women taking up shooting in the Chicagoland area.

Dianne McGrath used to spend her free time painting or doing needlework. But now her favorite pastime is shooting — something she thought she’d never do.

In fact, until last year, McGrath had never even touched a gun. It was her husband who encouraged her to learn to shoot for her own protection.

“You know, painting, needlework, guns. I don’t see what the problem is. It’s a really good progression,” she says of her new hobby. “It’s just another fun thing to do.”

McGrath says she’ll always remember the first time she fired a gun.

“It was a .22. I picked it up and I think I shook so bad I think the bullet went anywhere but where it was supposed to go,” she says, laughing.

But McGrath got better, and she was hooked. Now she says going to the range is actually more relaxing than needlework.

The only downside to this story is that CBS Chicago reporter Mai Martinez had to go to suburban DuPage County for it. I look forward to the not too distant future when we will see stories like this coming from within Chicago. When we do, it will be due to the legal work of attorneys Alan Gura and David Sigale and to courageous women like Rhonda Ezell and Colleen Lawson who paved the way.