GE Capital Cuts Off Lending to Gun Shops

[Sakobav]

many of the leading banks and financial institutes in US have stopped loaning money to Gun Shops/businesses
From Wall street journal
http://online.wsj.com/article/SB1000142 ... 81232.html
This month, Glenn Duncan, owner of Duncan's Outdoor Store in Bay City, Mich., said he received a letter from GE Capital Retail Bank in which the lender said it had made "the difficult decision" to stop providing financing services to his store. Other gun dealers have received similar notices.

Rex McClanahan, co-owner of Buds Gun Shop in Lexington, Ky., remembered first meeting GE representatives at an outdoor trade show called Nation's Best Sports in Fort Worth, Texas.

GE is at least the second big financial firm to retreat from the gun business following the school shootings, which claimed the lives of 20 first-graders and six adults in December.

[timmy]

Yes, GE believes in promoting wholesome, uplifting things for society, like the programming on NBC.

To paraphrase their slogan from yesteryear: "Progress is our most important problem."

[essdee1972]

What better could you expect from a company whose most celebrated CEO signed off on a super-deluxe golden handshake for himself.

[nagarifle]

signs of times, no loan =no gun dealers=no guns=easy takerover by the big boys. here comes Mr. HITLER

[Katana]

Don't know if people are aware of this, but in India, PSU and private banks do not, as a matter of policy, offer cash credit and current account facilities to licensed arms and ammunition dealers. Insurance firms do not insure their premises or stock either.