Skip to comments.Dick's Sporting Goods CEO says company destroyed $5 million worth of weapons
Posted on 10/08/2019 7:36:33 AM PDT by rightwingintelligentsia
The CEO of Dick's Sporting Goods said the company destroyed more than $5 million worth of assault-style rifles following its decision to stop selling the weapons amid pressure on retailers from gun control groups.
Ed Stack told CBS News during an interview that aired Sunday that the millions of dollars worth of inventory was turned into scrap metal.
"I said, 'You know what? If we really think these things should be off the street, we need to destroy them,'" he said.
It was not clear how much destroying the weapons cost the sporting goods giant.
Stack announced the Coraopolis, Pennsylvania-based chain would stop selling assault-style rifles and high-capacity magazines following the 2018 mass shooting at Marjory Stoneman Douglas High School in Parkland, Fla. The shooter killed 17 students and school staff with a weapon purchased from a Dick's location.
"We found out that we sold this kid a shotgun," Stack said. "That's when I said, 'We're done.'"
(Excerpt) Read more at foxnews.com ...
So they stopped selling insult rifles again?
YAWN , who cares , the companies that made them already have their money
Perhaps laundering weapons, too.
Why should we believe they destroyed them?
I wonder if they found a buy back program to help pay fo the guns.
There is a *ick’s SG about 3 blocks up the street in my small town. I routinely drive 50 miles away to Huntsville to avoid doing business with *ick’s.
Dicks, the name fits.
That is why they call the company DICK’s....short for Dickhead’s.
It’s no different than destroying 5 million dollars worth of wrenches or lawnmowers or electric saws...
It’s 5 million dollars worth of tools/hobby items/self defense items destroyed and wasted.
Any other item and people with a financial interest in the company would be appalled
Is this a public traded company?.............
Now were all safe! Thanks Dick!
Should the IRS allow a Company to purposefully destroy something of inherent value and then claim it as a Loss??? The way I see it that $5 Million should be fully TAXABLE
He’s virtue signalling and not telling the truth. A CEO doesn’t have the power to just destroy 5 million dollars of assets owned by the company. THe board has to make that decision and its a dereliction of their fiduciary duty to do so. You basically just threw 5 mill out the window with nothing to show for it - which means that they would be sued by the share holders for it and would be held personally liable for it. And they would lose in court. The only way this happened is if the CEO bought the weapons himself and then chose to destroy them. Doing so on such a large volume of weapons would require that he obtain an FFL from the government. No one can buy 5 million dollars of firearms without being top of the list for the ATF to investigate.
Photos or it didn’t happen.
Youre a dick ,dick
Should be renamed DICKLESS.
Why hasn’t the board already removed this anti-business idiot?. They are probably SJWers themselves. This situation just screams for a stockholder lawsuit as well as collective action to drive the company into the ground.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.