Wal-Mart resists pressure on gun sales
The retailer has withstood similar criticism for years. Many locations have sold out of semi-automatic rifles since last week's Connecticut school shooting.
Freedom Group, the corporate owner of Bushmaster, the maker of the weapon used by Sandy Hook Elementary killer Adam Lanza, gets about 13% of its sales from Wal-Mart, which is probably the one of the biggest sellers of firearms and ammunition in the country.
Many Wal-Mart locations have sold out of semi-automatic rifles since the school shooting, Bloomberg reports. The company's website says several guns are out of stock in five states. Prices for gun magazines were reportedly surging on eBay (EBAY), according to the news service.
Wal-Mart sells modern sporting rifles, the term the industry uses to describe weapons similar to the M-16 used by the military, in about 1,200 locations and does not sell high-capacity magazines for these weapons, according to Bloomberg. The news service quotes spokesman David Tovar as saying, "We remain dedicated to the safe and responsible sale of firearms in areas of the country where they are sold."
Sales of guns and ammunition have surged in the days after the Dec. 14 incident as buyers worried about a crackdown by President Barack Obama, who on Wednesday asked Vice President Joe Biden to lead a task force on gun violence that will issue recommendations by next month. It seems likely that a new assault weapons ban will head to a vote in the Congress in the coming months that the political powerful gun lobby will have difficulty stopping.
Gun control advocates can't overplay their hand. Attacking Wal-Mart too aggressively for selling guns to people legally able to buy them could turn the retailer into a martyr for the Second Amendment. Customers will rally around the retailer, like people did when Chick-fil-A was attacked for its views on gay rights, and buy even more firearms and ammunition. Gun critics should ask themselves whether they prefer that people buy weapons through a multinational company which is accountable for its actions or a gun show dealer where restrictions are not as stringent.
Wal-Mart has to be careful as well. Perhaps the company believes that pressure to curtail gun sales, which includes an online petition, will die down as the massacre at Sandy Hook Elementary fades from people's memories. That would be a mistake. The slaughter of 20 children and six educators is forever etched in the nation's consciousness.
--Jonathan Berr does not own shares of the listed stocks. Follow him on Twitter @jdberr.
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I will say upfront I am a proud gun owner. I do not believe an assault weapons ban will decrease mass shootings (statistics back my theory). I have never seen the movie "Hunger Games" or read any of the books. But I recently had a friend of mine who did watch the movie and said it was very graphically violent and had scenes of children killing other children in very gruesome ways.
So I am wondering where is the uproar over this type of movie? Where are the parents against gun violence protesting the movie studio and all it's advertisers? Seems kind of hypocritical to me. I don't care that they made the movie. I made a personal decision not to go see it, now especially knowing it is children killing other children.
I made a personal decision. The same should be asked of the people against gun violence. Nobody is forcing you to buy or own a gun. It is your second amendment right.
Bought me 2 last night as an early Xmas gift to myself... I even wrapped 1 and put it under the tree so I can have a "surprise" Xmas day.
"Bushmaster, the maker of the weapon used by Sandy Hook Elementary killer Adam Lanza "
Allegedly, this type of AR was not used during the massacre but 2 semi-auto pistols..get you story straight Berr.
SANATORIUM FOR THE SICK MINDED .!! - AND SPEEDY CAPITAL PUNISHMENTS FOR THE MURDERS !
BUT THIS WILL NEVER HAPPEN IN USA.
GUN CONTROL - hOW ???!! WHO CAN CONTROL 200 MILLION GUNS !!!???
Face it. We didn't pay into it nearly as much as we get out, although had we invested it on our own we'd no doubt have more. But then again, how many people would have saved?
What really ticks me is having to pay income tax on part of my SS when I paid in full when it was earned.
Oh yes I was born in a housing project in Atlanta and now I live on top of the Mountain. The games Our kids play now and Pills they take is part of the problem.
Some mentally disturbed person, steals a gun from his irresponsible mother whom if fact showed him how to use the weapons (illegally) and kills her. Then sets out on a killing spree, which was a tradatigy in itself. Now, supposedly over the coming end of the world 12-21-2012. Now all the doomsayers want all the guns taken away which is ridiculous. (more than likely Obama supporters) If the ill-fated TiTanic sunk last week, what would they seek? go out and blow up all the ice-bergs. Or, even outlaw ocean liners. I commend Wal-Mart, not to succumb to these chicken little doomsayers!
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[BRIEFING.COM] The stock market finished an upbeat week on a mixed note. The S&P 500 added just over a point, holding its weekly gain at 1.0% while the Nasdaq lost 0.4%.
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The solid report comes a month after the retailer closed all of its Canadian operations.
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