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If You Could Collect Insurance Money …

… for running your company into the ground, like you can for grease fires in restaurants, I’d be looking at the CEO of Dick’s really close if I were the underwriter. And yet, I’m sure there are still people out there who will shop at, even buy ammunition at Dick’s. You now have your answer: Dick’s wasn’t pressured. They caved because their CEO supports gun control. Stop shopping there. Seriously. Stop.

17 Responses to “If You Could Collect Insurance Money …”

  1. Jeff the Baptist says:

    Citibank as well. Ed Skyler on their leadership team is one of Bloomberg’s old political associates.

  2. JustJohn says:

    Is Dick’s a company that offers stocks? If so why isn’t this A-hole being sued for failure to act under the fiduciary law that indicates the company is to see that it is doing the best for it’s stockholders.

  3. eriko says:

    The term you are looking for is ‘credit default swap’ .

  4. Ian Argent says:

    Gambling? In Rick’s Casino?

  5. Fred says:

    Virtue signalling to the WASPy soccer moms and OFWG golfers that really drive receipts there

  6. Mike says:

    I think there’s probably a little bit of regulatory capture there. He thinks that gun laws will drive out his small business competition leaving him on top.

  7. GP1935 says:

    Last year I spent close to 2 grand at Dick’s/F&S as they are the closest shooting supply store to me. I bought a fairly big safe and a bunch of little things. No more. Internet for supplies from here on, and I guess I’ll get guns sent to the little shop that’s harder to get to.

    • Texas Charlie says:

      I buy most of my guns, gun kits and accessories online now. (Buy AR 15 kits and parts online and then buy lower receivers at my local FFL who I also use to receive and do background checks on the few complete guns I buy anymore). This is why actions like that by Citibank are so threatening – it would devastate the online business

      • Tirno says:

        My thoughts are more along the lines of the NSSF starting up a credit union.

      • Arizona Rifleman says:

        Out of curiosity, which kits do you get and where? I just ordered some PSA M4-style kits for some 80% lowers I’m making. They were on sale and incredibly priced, but I’m always looking for options.

        I’m moving to CA for work (hooray, oh wait) and none of the local dealers sell cheap stripped lowers. Those that do sell stripped lowers sell relatively spendy ones like Spike’s and other such brands. They’re fine lowers, but ultimately it’s the same forged lower made to GI specs as sold by other brands for half the price. Thus, I’ve stuck to 80% lowers for the time being. Less paperwork, too.

    • Robert says:

      Just thinkin, you might look into their returns policy. If you’re willing to go that route.

  8. Patrick Henry, the 2nd says:

    Not surprising. But we need to spread the word. Just like Bitter said, say it at local gun clubs and groups.

  9. dwb says:

    Actually, you CAN sell insurance on your own company. With complex derivatives like credit default swap (CDS), or equity or bond total return swaps, you can get an investor (bank or hedge fund) to pay you based on your own companies return, which means if your company’s equity price goes to zero, the hedge fund owes your company a lot.

    If this sounds exotic and strange, in the financial world its pretty common. CDS and derivatives, misused, are way more dangerous and usual than my 308 bullpup. Every recession, lots of people go bankrupt and kill themselves, quickly or slowly through drugs. I feel quite confident that derivatives are more dangerous when misused than my AR15.

    Speaking of Dicks, their own stock performance is pretty poor. With management like that, they will be out of business soon. You cannot afford to kill traffic when your traffic is already getting eaten by Amazon.

    Hammer them hard and kick them while they are down. and good riddance.

  10. Jonathan says:

    I used to shop at Dick’s often, but haven’t in years due to higher prices and lower selection. The one closest to me just started carrying handguns again, but their prices are high and their selection is limited, so I hadn’t started buying there again.
    As others have said, guns are not their focus; I’m actually surprised they haven’t stopped selling them altogether.

  11. Roger says:

    I would really like to stop shopping at Dick’s. Unfortunately I never started.

  12. John says:

    A corp board has two jobs.

    1. Hire and fire the CEO
    2. Know when to sell the company.

    This guy is making moves that are:

    1. Hurting sales
    2. eroding shareholder value

    It’s time for the board to act and fire him.

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