Have we gloated about the hardships besetting the death merchant sector and their industry lobbying group lately?
After NRA reports massive drop in contributions, gun stocks take a hit https://t.co/wR7HN83rSs
— FORTUNE (@FortuneMagazine) December 3, 2018
From the Fortune article:
Share prices for some gun manufacturers dropped after the National Rifle Association released that it had lost more than half a billion dollars in income last year.
The gun-rights organization reported $98 million in contributions in 2017, down $55 million from the year prior, according to a report on the organization’s tax records by the Daily Beast.
In the wake of the news, stock prices for gun companies fell…
These companies have typically seen a bump in stock after mass shootings, including a February shooting at a Parkland, Fla. high school that left 17 dead and a shooting at a concert venue in Las Vegas in October 2017 that left more than 50 dead.
But many are also reporting a drop in sales during the Trump presidency…
And as gun manufacturers are seeing a decrease in sales, the NRA is hurting from a loss in dues. The $55 million drop in contributions during 2017 includes a $35 million downturn in dues collected, a sign that hints at dwindling support, the Daily Beast reports.
Looks like at least some NRA execs are riding the grift all the way down. From an 11/28 report at The Trace:
The National Rifle Association paid more than $100,000 in personal expenses for an official who is now leading an austerity campaign within the organization, new tax filings show.
The official, Josh Powell, is the NRA’s executive director for general operations. The Trace and Mother Jones reported two weeks ago that Powell, along with the NRA’s new treasurer, Craig Spray, is seeking to impose steep cuts to the gun group’s budget. The effort is so stringent that the NRA did away with free coffee and water coolers at its Fairfax, Virginia, headquarters, causing consternation among NRA staffers. Today, NRATV staffer Cameron Gray announced on Twitter that he and “several colleagues” had been laid off.
We’re ass-deep in guns in America, and our twisted gun culture will continue to be a deadly problem for the rest of our lives — and probably our children’s and grandchildren’s lives too. A drop in NRA contributions and decline in gun maker profits won’t change that, at least not right away.
But did anyone see this coming — NRA contributions tanking and House Republicans driven from power in a wave election, inspired in part by activists young folks who demand sensible gun safety regulations? The Parkland kids believed they could change things — and they were right. Let us savor the NRA’s cordite-scented tears, comrades.