Author Topic: NRA files for bankruptcy protection  (Read 2467 times)

Hawkmoon

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Re: NRA files for bankruptcy protection
« Reply #25 on: January 20, 2021, 11:09:57 AM »
Wasn't it Texas where Wayne wanted the NRA to purchase a mansion for him? Maybe there's more to this Texas thing than simply trying to get out from under the purview of the State of New York.

Companies do strange things. A couple of decades ago, the major company in the automotive parts industry relocated its corporate headquarters (not the state where it's legally incorporated, the physical headquarters) from Texas to Connecticut. The company bought a former private school in Greenwich, Connecticut, and spent many millions of dollars renovating it to the CEO's specifications. From any logical, business perspective the move made zero sense.

Come to find out, the CEO's wife was a horsewoman. Not into rodeos or barrel racing, she was big into the hoity-toity riding and showing circus, and she felt that Greenwich was THE place to be for that sort of thing. So the CEO talked the board of directors into uprooting the entire corporate HQ, spending millions of dollars, putting 'X' number of people in Texas out of work -- all so he and his wife could live in Greenwich.

That was in 1995. Just four years later -- 1999 -- the company split and the corporate headquarters was moved to Illinois. But the CEO retired, so he and his wife were able to continue to live in Greenwich.
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WLJ

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Re: NRA files for bankruptcy protection
« Reply #26 on: January 22, 2021, 10:31:36 AM »
This my shocked face

New York Court Denies Motion to Dismiss NY Attorney General’s Lawsuit Against the NRA
https://www.thetruthaboutguns.com/new-york-court-denies-motion-to-dismiss-ny-attorney-generals-lawsuit-against-the-nra/
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WLJ

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Re: NRA files for bankruptcy protection
« Reply #27 on: January 22, 2021, 03:16:49 PM »
In the video
The bankruptcy filing may get tossed out since they filed it in Texas and not NY
One of the NRA's largest donors is filing suit to block the bankruptcy filing because he wants Wayne to face the music in NY

NRA Bankruptcy Filing In Trouble
https://www.youtube.com/watch?v=nWw0YIs3XX0
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kgbsquirrel

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Re: NRA files for bankruptcy protection
« Reply #28 on: January 22, 2021, 04:48:46 PM »
In the video
The bankruptcy filing may get tossed out since they filed it in Texas and not NY
One of the NRA's largest donors is filing suit to block the bankruptcy filing because he wants Wayne to face the music in NY

NRA Bankruptcy Filing In Trouble
https://www.youtube.com/watch?v=nWw0YIs3XX0

Wayne deserves it.

Andiron

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Re: NRA files for bankruptcy protection
« Reply #29 on: January 22, 2021, 06:48:18 PM »
I've wanted to see the NRA and Wayne face a reckoning for a while,  but this is absolutely garbage timing.
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kgbsquirrel

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Re: NRA files for bankruptcy protection
« Reply #30 on: January 23, 2021, 02:08:32 AM »
I've wanted to see the NRA and Wayne face a reckoning for a while,  but this is absolutely garbage timing.

You're right, it should have happened decades ago.  But as it is killing the NRA now is better than letting them continue stabbing us in the back. 

Declaring it garbage timing only serves to help the NRA by implying we should give them some slack right now; is that what you are suggesting?

Andiron

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Re: NRA files for bankruptcy protection
« Reply #31 on: January 23, 2021, 09:03:29 AM »
You're right, it should have happened decades ago.  But as it is killing the NRA now is better than letting them continue stabbing us in the back. 

Declaring it garbage timing only serves to help the NRA by implying we should give them some slack right now; is that what you are suggesting?

Oh hell no, and I've been pilloried on this forum before for saying the NRA needs razed and rebuilt.   
 
Got a text from a lefty family member crowing about the "destruction" of the NRA  (She didn't actually read the article,  just saw "bankruptcy" and assumed).  They think it's Christmas again.  A successful coup and the end of a hated enemy?  They're pleased as punch,  and I hate it.  That's what I meant.

I actually think the NRA's troubles come at a good time.  The majority of the membership obviously isn't paying attention, maybe this will wake them up.
"Leftism destroys everything good." -  Ron

There is no fixing stupid. But, you can line it up in front of a wall and offer it a last smoke.

There is no such thing as a "transgender" person.  Only mental illness that should be discouraged.

Fly320s

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Re: NRA files for bankruptcy protection
« Reply #32 on: January 23, 2021, 09:56:21 AM »

I actually think the NRA's troubles come at a good time.  The majority of the membership obviously isn't paying attention, maybe this will wake them up.

And some percentage of the membership is rooting for their overhaul.  Like me.

I agree that it is better to have the NRA crash now, under Biden, then crash under a pro-gun president where they won't actually learn their lesson.
Islamic sex dolls.  Do they blow themselves up?

kgbsquirrel

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Re: NRA files for bankruptcy protection
« Reply #33 on: January 23, 2021, 03:43:41 PM »
Oh hell no, and I've been pilloried on this forum before for saying the NRA needs razed and rebuilt.   
 
Got a text from a lefty family member crowing about the "destruction" of the NRA  (She didn't actually read the article,  just saw "bankruptcy" and assumed).  They think it's Christmas again.  A successful coup and the end of a hated enemy?  They're pleased as punch,  and I hate it.  That's what I meant.

I actually think the NRA's troubles come at a good time.  The majority of the membership obviously isn't paying attention, maybe this will wake them up.

Ah, thank you.  Let us pray they do wake up.

brimic

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Re: NRA files for bankruptcy protection
« Reply #34 on: January 23, 2021, 04:03:23 PM »
yay?
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WLJ

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Re: NRA files for bankruptcy protection
« Reply #35 on: February 16, 2021, 07:10:07 PM »
For a company filing bankruptcy they sure are spending money

NRA Bankruptcy Details...WOW!!
https://www.youtube.com/watch?v=NYKMy3uoSmE

NRA Reveals Assets From Charlton Heston Statue to Range Rover in Latest Bankruptcy Filing
https://freebeacon.com/guns/nra-reveals-assets-from-charlton-heston-statue-to-range-rover-in-latest-bankruptcy-filing/

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WLJ

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Re: NRA files for bankruptcy protection
« Reply #36 on: May 11, 2021, 09:16:44 PM »
Quote
In a lengthy opinion, United States Bankruptcy Judge Harlin DeWayne Hale has dismissed the Chapter 11 petition filed by the National Rifle Association.  The case was dismissed “without prejudice,” meaning the NRA could theoretically refile it.

BREAKING: Bankruptcy Court Dismisses NRA’s Chapter 11 Petition, Rules It Was Filed in Bad Faith
https://www.thetruthaboutguns.com/breaking-bankruptcy-court-dismisses-nras-chapter-11-filing-as-filed-in-bad-faith/

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230RN

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Re: NRA files for bankruptcy protection
« Reply #37 on: May 11, 2021, 09:41:17 PM »
Ben:

"I don't know what they were ever doing in NY in the first place. '

New York was not always so lock-stepped anti gun. The National Matches were held there for many years:

https://duckduckgo.com/?q=creedmoor+and+the+NRA&t=h_&ia=web

Quote
Creedmoor Rifle Range was sited on Long Island in what is now Queens Village, Queens, New York. The range was established after the New York Legislature and the newly formed National Rifle Association (NRA) combined in 1872 to acquire 70 acres of farmland from a Mr Creed for long-distance rifle shooting and the holding of shooting competitions.

As usual, Population Density being the Death Of Freedom, as the area got populated, objections to the range finally resulted in its closure.

(FWIW, I used to work at the Creedmoor State Hospital.)

Terry

PS.  That's "Creedmoor," not "Creedmore."  Thanks.




« Last Edit: May 11, 2021, 09:54:31 PM by 230RN »

Hawkmoon

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Re: NRA files for bankruptcy protection
« Reply #38 on: May 11, 2021, 10:55:07 PM »
BREAKING: Bankruptcy Court Dismisses NRA’s Chapter 11 Petition, Rules It Was Filed in Bad Faith
https://www.thetruthaboutguns.com/breaking-bankruptcy-court-dismisses-nras-chapter-11-filing-as-filed-in-bad-faith/



Yes, they could re-file, but ...

Quote
The Court is not dismissing this case with prejudice, but should the NRA file a new bankruptcy case, this Court would immediately take up some of its concerns about disclosure, transparency, secrecy, conflicts of interest of officers and litigation counsel, and the unusual involvement of litigation counsel in the affairs of the NRA, which could cause the appointment of a trustee out of a concern that the NRA could not fulfill the fiduciary duty required by the Bankruptcy Code for a debtor in possession.

I haven't read the full decision but this sounds to me like the judge saying, "Go ahead -- I double dog dare you to re-file."
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WLJ

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Re: NRA files for bankruptcy protection
« Reply #39 on: May 11, 2021, 10:57:32 PM »
Judge has the same concerns most of us do
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Hawkmoon

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Re: NRA files for bankruptcy protection
« Reply #40 on: May 11, 2021, 11:47:45 PM »
WOW!

So the board of directors (actually, just Carolyn Meadows) formed a "Special Litigation Committee" to handle the pending litigation without involving Wayne LaPierre because he is a co-defendant in the lawsuit, but (from the decision):

Quote
  Mr. LaPierre consulted the three members of the Special Litigation Committee about the decision to file bankruptcy before it was made, so their knowledge of the decision-making process is also relevant.  The only other person within the NRA who appears to have known about the decision to file bankruptcy prior to the actual filing was the NRA spokesman, ...

So the committee that was created for the purpose of handling the litigation without involving LaPierre were the only three people aside from the NRA spokescritter with whom LaPierre discussed the bankruptcy that was intended to get them out of the litigation.

Nope, there's nothing wrong here.
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MechAg94

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Re: NRA files for bankruptcy protection
« Reply #41 on: May 11, 2021, 11:51:07 PM »
WOW!

So the board of directors (actually, just Carolyn Meadows) formed a "Special Litigation Committee" to handle the pending litigation without involving Wayne LaPierre because he is a co-defendant in the lawsuit, but (from the decision):

So the committee that was created for the purpose of handling the litigation without involving LaPierre were the only three people aside from the NRA spokescritter with whom LaPierre discussed the bankruptcy that was intended to get them out of the litigation.

Nope, there's nothing wrong here.
The NRA's lawyers seem to be worth all that money they are paying them don't they?  Of course, they appear to be smarter than their clients.
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Hawkmoon

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Re: NRA files for bankruptcy protection
« Reply #42 on: May 12, 2021, 12:14:53 AM »
The NRA's lawyers seem to be worth all that money they are paying them don't they?  Of course, they appear to be smarter than their clients.

That's another issue. The Brewer law firm handled this boondoggle. IIRC, Brewer charges his own time at a couple of thousand dollars per hour, and no attorney goes into a trial like this without assistants. The trial lasted a month. I don't know if the court was in session all day, every day, but let's assume that was the case. So basically 20 days times 8 hours is 160 hours. At $2,500 / hour, Brewer alone would have racked up $400,000 in fees for the trial. Figure a similar amount for the rest of the team, and this boondoggle cost the NRA (which is to say US -- the members) about a million dollars.
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Ben

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Re: NRA files for bankruptcy protection
« Reply #43 on: May 12, 2021, 07:53:46 AM »
On a side note, I have been watching a lot more Youtube, including the gun channels. It was of note to me that none of the popular channels (e.g., Garand Thumb, Mrgunsngear, Warrior Poet Society), when discussing gun rights and supporting gun organizations, ever mention the NRA.

They will say, "Support gun rights organizations like...", then go on to mention just about everyone except the NRA. These are all younger guys (relative to me anyways) with large followings that are influencing gun owners. One can't help but think that the NRA may be losing its relevance. At least unless it gets its *expletive deleted*it together.
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Hawkmoon

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Re: NRA files for bankruptcy protection
« Reply #44 on: May 12, 2021, 06:29:46 PM »
One can't help but think that the NRA may be losing its relevance. At least unless it gets its *expletive deleted*it together.

At this point, I don't think the NRA has any relevance left to lose. And that's not going to change unless/until LaPierre and most of the current board of directors are gone.
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WLJ

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Re: NRA files for bankruptcy protection
« Reply #45 on: May 12, 2021, 06:36:10 PM »
At this point, I don't think the NRA has any relevance left to lose. And that's not going to change unless/until LaPierre and most of the current board of directors are gone.

+1
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Jim147

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Re: NRA files for bankruptcy protection
« Reply #46 on: May 12, 2021, 07:31:39 PM »
I left the NRA years ago. I will never leave the RTBA community ever.
Sometimes we carry more weight then we owe.
And sometimes goes on and on and on.

BAH-WEEP-GRAAAGHNAH WHEEP NI-NI BONG

MechAg94

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Re: NRA files for bankruptcy protection
« Reply #47 on: May 12, 2021, 09:21:15 PM »
I haven't left the NRA, but my membership is paid up through 2045 or further.  I just stopped sending them money.

I think they still have relevance in the industry and with politicians.  At the NRA show in 2019, there were still a lot of people there and lots of tables with manufacturers.  I have heard one or two people mention coming to Houston for the NRA show in Houston that is supposed to be in September.  That is close to me so I plan to go.  IMO, the NRA can still recover, but only if the current leadership is kicked out (assuming New York is not successful in abolishing it)
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JTHunter

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Re: NRA files for bankruptcy protection
« Reply #48 on: May 12, 2021, 09:39:22 PM »
I haven't left the NRA, but my membership is paid up through 2045 or further.  I just stopped sending them money.

I think they still have relevance in the industry and with politicians.  At the NRA show in 2019, there were still a lot of people there and lots of tables with manufacturers.  I have heard one or two people mention coming to Houston for the NRA show in Houston that is supposed to be in September.  That is close to me so I plan to go.  IMO, the NRA can still recover, but only if the current leadership is kicked out (assuming New York is not successful in abolishing it)

As an "endowment" member and retired senior, I haven't sent any organization money in years, but that membership is "life".
When times were better, I went to the two conventions they had in St. Louis in 2007 and 2012.  Enjoyed both except for the public transit train ride through East St. Louis as I didn't want to mess with parking.  I haven't ridden MetroLink since then either.
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