Author Topic: NRA files for bankruptcy protection  (Read 2469 times)

zxcvbob

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NRA files for bankruptcy protection
« on: January 15, 2021, 04:36:41 PM »
I thought we had a current NRA thread but I can't find it.  (maybe that was on TFL)  So here's a new one

https://www.washingtontimes.com/news/2021/jan/15/nra-files-bankruptcy-protection-will-seek-reorgani

I just let my membership (of over 20 years) lapse.  I gave an extra $50 to SAF instead, and it felt good.  If the NRA survives and if they get their *expletive deleted*it together I may join again, but I don't see that happening.  Wayne will go down with the ship, even if the ship could have righted itself with him gone.
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WLJ

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Re: NRA files for bankruptcy protection
« Reply #1 on: January 15, 2021, 04:50:12 PM »
Can't say I'm surprised
"Sometimes I think the surest sign that intelligent life exists elsewhere in the universe is that none of it has tried to contact us".
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Fly320s

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Re: NRA files for bankruptcy protection
« Reply #2 on: January 15, 2021, 05:00:07 PM »
Can't say I'm surprised

Can't say I'm saddened.  Lapierre shot himself and the NRA in the foot. 
Islamic sex dolls.  Do they blow themselves up?

WLJ

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Re: NRA files for bankruptcy protection
« Reply #3 on: January 15, 2021, 05:17:22 PM »
"Project Freedom"
Anyone aware what the NRA's actual  financial condition is beyond what this statement that reads like an "All is well" statement out of the Berlin bunker in April 45 states?

Quote
What did the NRA announce?
This is a transformational moment for the NRA. We announced a new strategic plan called Project Freedom.

The NRA’s new strategic plan involves pursuing reincorporating the Association from the State of New York to the State of Texas – home to more than 400,000 NRA members and site of the 2021 NRA Annual Meeting being held in Houston.

The NRA’s restructuring plan also aims to help the NRA streamline costs and expenses, proceed with pending litigation in a coordinated and structured manner, and realize many financial and strategic advantages.

We believe the restructuring plan positions our organization for the future – and ensures our continued success as the nation’s leading advocate for constitutional freedom.

It’s important to note that they’re not insolvent:

Is the NRA going “bankrupt?”
No. In fact, this move comes at a time when the NRA is in its strongest financial condition in years.

To facilitate its reorganization, the NRA and one of its subsidiaries filed voluntary chapter 11 petitions in the United States Bankruptcy Court for the Northern District of Texas, Dallas Division. The NRA is not insolvent.

We expect no impacts to NRA programming.

Nothing is more important to the NRA than protecting the Second Amendment rights of our law-abiding members. We will be as effective as ever in advocating for your rights, promoting firearms education and training, and engaging in public endeavors.

SORRY HATERS: The NRA *IS NOT* insolvent or going out of business
https://twitchy.com/gregp-3534/2021/01/15/sorry-haters-the-nra-is-not-insolvent-or-going-out-of-business/
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Ben

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Re: NRA files for bankruptcy protection
« Reply #4 on: January 15, 2021, 06:47:23 PM »
Well, even if they're not insolvent, it's not good optics, especially with the NY and other AGs saying they're going to put the NRA out of business. Also I guarantee 46/Harris will use this as a "we're winning". it might even give them a positive perception for new gun laws.

I don't know what they were ever doing in NY in the first place. Also, I do question their finances, because it seems to me that a lot of people have been like me, and holding off donations because of stupid Wayne.
"I'm a foolish old man that has been drawn into a wild goose chase by a harpy in trousers and a nincompoop."

Jim147

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Re: NRA files for bankruptcy protection
« Reply #5 on: January 15, 2021, 07:15:09 PM »
Wasn't there a rumor this summer that Trump jr was going to come in and run the NRA?
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kgbsquirrel

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Re: NRA files for bankruptcy protection
« Reply #6 on: January 15, 2021, 07:22:16 PM »
I thought we had a current NRA thread but I can't find it.  (maybe that was on TFL)  So here's a new one

https://www.washingtontimes.com/news/2021/jan/15/nra-files-bankruptcy-protection-will-seek-reorgani

I just let my membership (of over 20 years) lapse.  I gave an extra $50 to SAF instead, and it felt good.  If the NRA survives and if they get their *expletive deleted*it together I may join again, but I don't see that happening.  Wayne will go down with the ship, even if the ship could have righted itself with him gone.

Wayne can't let anyone else take over the NRA; they would find his embezzlement.  He has no choice but to ride it into the ground.

Ben

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Re: NRA files for bankruptcy protection
« Reply #7 on: January 15, 2021, 07:54:03 PM »
Also, did I miss it, or did the NRA send zip to members about this? Seems if you're a member, you should have at least heard about it from the NRA via email at the same time they announced it to the press.
"I'm a foolish old man that has been drawn into a wild goose chase by a harpy in trousers and a nincompoop."

Fly320s

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Re: NRA files for bankruptcy protection
« Reply #8 on: January 15, 2021, 08:06:49 PM »
Also, did I miss it, or did the NRA send zip to members about this? Seems if you're a member, you should have at least heard about it from the NRA via email at the same time they announced it to the press.

Ha!  You think the NRA gives a flip about the members?  All the NRA cares about is the NRA.
Islamic sex dolls.  Do they blow themselves up?

Andiron

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Re: NRA files for bankruptcy protection
« Reply #9 on: January 15, 2021, 08:27:46 PM »
Also, did I miss it, or did the NRA send zip to members about this? Seems if you're a member, you should have at least heard about it from the NRA via email at the same time they announced it to the press.

Checked my spam trap,  nada.

Wayne needs deposed and prosecuted.
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Cliffh

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Re: NRA files for bankruptcy protection
« Reply #10 on: January 15, 2021, 08:35:22 PM »
I didn't receive any notice.

My membership has been spotty over the years.  I'd sign on for a couple/three years, let it lapse for a few years, sign on for a year - that sort of thing.  Last time I signed on for 2 years, since then I've found some unsettling things and am just riding out the expiration.

MechAg94

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Re: NRA files for bankruptcy protection
« Reply #11 on: January 15, 2021, 08:40:28 PM »
I got an email about the latest gun/truck raffle.  That is more important isn't it?   =D
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MechAg94

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Re: NRA files for bankruptcy protection
« Reply #12 on: January 15, 2021, 08:42:52 PM »
Looking at the original article, it sounds more like they are trying to get a bankruptcy judge to allow them to move to another state.  I had heard that the New York rules require them to get permission from NY to charter in another state.  I could be wrong on that. 
“It is much more important to kill bad bills than to pass good ones.”  ― Calvin Coolidge

MechAg94

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Re: NRA files for bankruptcy protection
« Reply #13 on: January 15, 2021, 09:03:01 PM »
I just got this email.  Are they reading our posts?  Maybe Mike Irwin called someone.

Quote
Dear NRA Members & Supporters:

Today, the NRA announced a restructuring plan that positions us for the long-term and ensures our continued success as the nation’s leading advocate for constitutional freedom – free from the toxic political environment of New York.

The plan can be summed up quite simply: We are DUMPING New York, and we are pursuing plans to reincorporate the NRA in Texas.

To facilitate the strategic plan and restructuring, the NRA and one of its subsidiaries filed voluntary chapter 11 petitions in the United States Bankruptcy Court for the Northern District of Texas, Dallas Division. As you may know, chapter 11 proceedings are often utilized by businesses, nonprofits and organizations of all kinds to streamline legal and financial affairs.

Under the plan, the NRA will continue what we’ve always done – confronting anti-gun, anti-self-defense and anti-hunting activities and promoting constitutional advocacy that helps law-abiding Americans. Our work will continue as it always has. No major changes are expected to the NRA’s operations or workforce.
It goes on at length.  I didn't want to post the entire thing.
“It is much more important to kill bad bills than to pass good ones.”  ― Calvin Coolidge

Hawkmoon

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Re: NRA files for bankruptcy protection
« Reply #14 on: January 15, 2021, 09:25:21 PM »
I'm an NRA life member. I didn't get an e-mail.

I've read a couple of articles on this. I'd say it's a Hail Mary play, at best. I very much doubt that it will succeed.

The answer is that Wayne LaPierre needs to resign, retire, or be fired -- along with several members of the board of directors. The NRA is supposed to be a membership organization, but the membership have been effectively cut out of any say in the operation of the organization since the by-laws revisions of several years ago. Until the cancer has been removed from the body, it will continue to eat away at the fabric of the organization.
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WLJ

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Re: NRA files for bankruptcy protection
« Reply #15 on: January 16, 2021, 10:00:26 AM »
Someone is doing the happy dance

Quote
Shannon Watts
@shannonrwatts
Let's be clear: The NRA is filing for bankruptcy in order to escape legal culpability for years of deception, decadence and disregard of non-profit law. This unprecedented maneuver should be considered an admission of guilt.
https://www.thetruthaboutguns.com/breaking-nra-shutting-down-in-new-york-state-moving-corporation-to-texas/
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Ben

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Re: NRA files for bankruptcy protection
« Reply #16 on: January 16, 2021, 10:05:48 AM »
I still haven't seen an NRA email on this.

Edit: Oh - just checked the inbox and I do now have an NRA email. Asking me for money.  ;/
"I'm a foolish old man that has been drawn into a wild goose chase by a harpy in trousers and a nincompoop."

zxcvbob

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Re: NRA files for bankruptcy protection
« Reply #17 on: January 16, 2021, 10:06:26 AM »
Ms. Watts is probably not wrong in that statement, gleeful or not.

BTW, if someone wants to merge this thread with the "NRA going forward" I am fine with that.  For some reason I couldn't find that thread when I started a new one.  (I used the search function rather than just looking myself at the recent threads :doh: )
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WLJ

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Re: NRA files for bankruptcy protection
« Reply #18 on: January 19, 2021, 11:30:17 AM »
If they think the dems are going to call off the attack dogs then they are sadly mistaken.

Quote
“The NRA’s claimed financial status has finally met its moral status: bankrupt. While we review this filing, we will not allow the NRA to use this or any other tactic to evade accountability and my office’s oversight.”

— Press release from New York Attorney General Letitia James

New York Attorney General Pledges to Pursue the NRA to the Ends of the Earth
https://www.thetruthaboutguns.com/ny-attorney-general-pledges-to-pursue-the-nra-to-the-ends-of-the-earth/
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MechAg94

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Re: NRA files for bankruptcy protection
« Reply #19 on: January 19, 2021, 02:26:32 PM »
If they think the dems are going to call off the attack dogs then they are sadly mistaken.

New York Attorney General Pledges to Pursue the NRA to the Ends of the Earth
https://www.thetruthaboutguns.com/ny-attorney-general-pledges-to-pursue-the-nra-to-the-ends-of-the-earth/
It seems to me that she would still have jurisdiction over what they did up to the point they were able to move.  May not be able to end the NRA, but I figure she can still go after the leadership. 

Of course, that assumes a judge will actually let them leave NY.
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Brad Johnson

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Re: NRA files for bankruptcy protection
« Reply #20 on: January 19, 2021, 04:34:00 PM »
I honestly can't understand why any sane board of directors would keep a company in NY or Cali anyway, what with their confiscatory tax rates and dictatorial state governments. If it were my corp, there wouldn't be a NY AG witch hunt prompting departure because I'd have bailed long ago.

Brad
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zxcvbob

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Re: NRA files for bankruptcy protection
« Reply #21 on: January 19, 2021, 06:27:30 PM »
I honestly can't understand why any sane board of directors would keep a company in NY or Cali anyway, what with their confiscatory tax rates and dictatorial state governments. If it were my corp, there wouldn't be a NY AG witch hunt prompting departure because I'd have bailed long ago.

Brad

I don't know why they're not a Delaware corporation. (like KAOS)   =)
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Fly320s

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Re: NRA files for bankruptcy protection
« Reply #22 on: January 19, 2021, 07:27:07 PM »
It seems to me that she would still have jurisdiction over what they did up to the point they were able to move.  May not be able to end the NRA, but I figure she can still go after the leadership. 

Of course, that assumes a judge will actually let them leave NY.

Even if the NRA leaves NY, they are still liable for any crimes they committed in NY.  Right?
Islamic sex dolls.  Do they blow themselves up?

Ben

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Re: NRA files for bankruptcy protection
« Reply #23 on: January 20, 2021, 08:50:19 AM »
Finally got the NRA member email about it this morning. The usual positive language. Signed by Wayne, which I thought was interesting, because most of these kinds of emails I've gotten over the last year have been signed by one of the other guys, I was assuming to keep Wayne under the radar.

The email mentioned potentially leaving Virginia as well. Though that makes less sense to me. Seems like they would want an HQ office close to DC.
"I'm a foolish old man that has been drawn into a wild goose chase by a harpy in trousers and a nincompoop."

MechAg94

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Re: NRA files for bankruptcy protection
« Reply #24 on: January 20, 2021, 08:53:28 AM »
Another question:  If they do move, will they move their headquarters and/or museum? 
“It is much more important to kill bad bills than to pass good ones.”  ― Calvin Coolidge