Author Topic: Nra files chapter 11  (Read 2823 times)

Big Frank

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Re: Nra files chapter 11
« Reply #10 on: January 18, 2021, 06:55:45 AM »
Didn't Big Frank just point out in another thread that the head is 60% fat ?

Just the brain, Tom. :) And no one's accusing the head of the NRA of having much brains. But it's definitely past time to do some trimming. I've seen a lot of businesses file for Chapter 11 that weren't going out of business, but they ended up going out of business anyway, maybe 5 years later. The NRA isn't going away for good, YET. And I hope it never does. It would really say a lot about how screwed up things have become if the oldest civil rights organization in the country went belly up. The NRA isn't bankrupt but our country is, morally speaking.
""It may be laid down as a primary position, and the basis of our system, that every Citizen who enjoys the protection of a free Government, owes not only a proportion of his property, but even his personal services to the defence of it, and consequently that the Citizens of America (with a few legal and official exceptions) from 18 to 50 Years of Age should be borne on the Militia Rolls, provided with uniform Arms, and so far accustomed to the use of them, that the Total strength of the Country might be called forth at a Short Notice on any very interesting Emergency." - George Washington. Letter to Alexander Hamilton, Friday, May 02, 1783

THE RIGHT TO BUY WEAPONS IS THE RIGHT TO BE FREE - A. E. van Vogt, The Weapon Shops of Isher

tombogan03884

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Re: Nra files chapter 11
« Reply #11 on: January 18, 2021, 09:07:47 AM »
 ;D

TAB

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Re: Nra files chapter 11
« Reply #12 on: January 18, 2021, 10:59:13 PM »
I am free, they could put me in charge... salary of $1/ year.


I am sure with in 6 months I would either have it running like a well oiled machine, or I would quit because it was unfixable. 

I do have exp founding and running a non profit and running an 8 digit gross sales construction  company.

Ps, I really would not be a good choice.  I would pass off every one in Washington  in about 2 mins  flat for me calling out thier hyproacracy and corruption.  I would also most likely epstien myself with in a year as I would go after them.
I always break all the clay pigeons,  some times its even with lead.

PegLeg45

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Re: Nra files chapter 11
« Reply #13 on: January 19, 2021, 06:39:19 PM »
I read LaPierre's letter on Tom Gresham's Gun Talk site the other day. He said the Chapter 11 thing was solely for the move because it cut way down on the legal stuff. He stated the NRA was nowhere close to being insolvent and were in better financial shape than the organization had been in a long time.
Of course, that could just be wind.....and there was no mention of stepping down.



Quote
January 15, 2021
After hearing the news that the NRA has filed for Chapter 11 bankruptcy and plans to move to Texas, Tom read Wayne LaPierre's letter to the NRA Board of Directors. Below is Tom's initial take on Wayne still at the helm, and the letter from LaPierre.

"Wayne LaPierre's letter to the board. Not asking for guidance, or seeking approval. Just TELLING them what he has already done. They are a board of spectators. Until Wayne is gone, I have no use for the NRA." ~Tom Gresham



From Wayne LaPierre:

Dear Board of Directors:

I am pleased to announce some exciting news about the NRA.

The NRA announced it will reorganize the Association as a Texas nonprofit to abandon the corrupt political and regulatory environment in New York. This action will ensure our continued success as the nation’s leading advocate for constitutional freedom.

To facilitate the 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. As you may know, chapter 11 proceedings are often utilized by businesses, nonprofits and organizations of all kinds to streamline legal and financial affairs.

Subject to court approval, the NRA’s new strategic plan involves “dumping New York” and reincorporating the Association in the State of Texas – home to more than 400,000 NRA members and site of the 2021 NRA Annual Meeting being held in Houston.

As many of you have observed, New York is no longer a welcome home to our Association, as its leaders have demonstrated their hostility to the constitutional freedoms in which we believe. Our filing today allows us to wisely seek protection from New York officials who illegally weaponized the powers they wield against the NRA and its members.

The NRA is not financially insolvent. In fact, this move comes at a time when the NRA is in its strongest financial condition in years.

The Association will continue with the forward advancement of the enterprise – confronting anti-Second Amendment activities, promoting firearms safety and training, and advancing public programs across the United States. No immediate changes are expected to the NRA’s operations or workforce.

The reorganization aims to help the NRA streamline costs and expenses, organize various litigation matters that involve related facts, and realize other financial and strategic advantages.

By exiting New York, the NRA abandons a state where elected officials have weaponized legal and regulatory power to penalize the Association and its members purely for political purposes.



The Battle in New York‍

As you will recall, in summer 2018, New York Attorney General candidate Letitia James vowed that, if elected, she would use the powers of her office to investigate the NRA. Without a shred of evidence supporting her claims, James called the Association a “terrorist organization” and a “criminal enterprise.” As promised, she commenced an “investigation” upon being elected to the Office of NYAG and, predictably, filed a lawsuit seeking to dissolve the NRA just prior to the November 2020 national election.

In response to the anti-freedom actions of the NYAG, the NRA filed a lawsuit in August 2020 against the NYAG similar to its lawsuit against New York Governor Andrew Cuomo and the New York State Department of Financial Services, filed in 2018. The NRA pursues the defendants for attempting to “blacklist” the organization and its financial partners in violation of their First Amendment rights. The NRA will continue those legal actions.

I firmly believe this strategic plan represents a pathway to opportunity, growth and progress. One important part of the plan is reincorporating in a state that values the contributions of the NRA, celebrates our lawabiding members, and joins us as a partner in upholding constitutional freedom. This is a transformational moment in the history of the NRA.

The NRA’s day-to-day business operations will continue uninterrupted.

This proven mechanism is a positive for us, allowing our advisors to pursue strategic advantages for the NRA as our leadership team continues to advance our mission.

We will continue to promote our Second Amendment advocacy, firearms education and training, and public endeavors. We do not anticipate any measurable impacts to our staffing, public programs or Second Amendment advocacy.

We are forming a special committee to study the possibility of relocating key segments of our business operations to Texas or other states.

A new committee, under the direction of First Vice President Charles Cotton, will study opportunities for relocating segments of NRA business operations to Texas or other states. We are exploring any option that may work in the best interests of the NRA and its members.

In the meantime, the NRA’s general business operations will remain in Fairfax.



Building Our Strengths

I have added Marschall Smith as our Chief Restructuring Officer. Marschall is a former Senior Vice President and General Counsel of 3M Company and ADM, among others, and has more than 35 years of legal and business experience with an emphasis on compliance, corporate finance, and corporate governance.

A native Texan, Marschall served 10 years as a Marine Corps officer, including four years of active duty with combat service in Vietnam. He left the Marines with the rank of major. He was a member of the Carter/Mondale presidential transition team and served as a special assistant to the Director Designate of Central Intelligence. He received his bachelor’s degree, cum laude, from Princeton, followed by a Juris Doctor degree from The University of Virginia and an MBA from The University of Chicago.

Marschall will work closely with the NRA senior leadership team. I know he looks forward to meeting all of you – as we embark upon this journey together.

Do not believe everything you hear in the media. We fully expect our adversaries to try to gain some sort of perceived advantage over the NRA by mischaracterizing this strategic plan. They will portray a socalled “bankruptcy” as a negative and, once again, predict our demise.

The liberal media, anti-gun gadflies, and left-wing politicians will desperately try to advance another distorted truth about the NRA.

The NRA is financially strong and well-positioned on all fronts. I am confident our members, employees, and most loyal stakeholders will appreciate the extraordinary benefits of this plan and realize the value of the NRA charting its own path forward – on its own terms. (We are making immediate outreach to our members, instructors, donors, and other key stakeholders.)

Again, this plan allows us to streamline our legal and business affairs, escape a radicalized New York political environment, and position ourselves for the long-term. It is the first step of an ambitious and exciting blueprint for the future.

We will stay in regular communication with the board. In the meantime, please visit www.nra.org/forward for more information. If you receive any public inquiries, please refer them to Andrew Arulanandam, managing director of NRA Public Affairs, at aarulanandam@nrahq.org.

Thanks in advance for your loyalty and partnership. I’m confident we have never been better positioned in the history of our organization – or more prepared to keep winning the fight for freedom.

Wayne

https://www.guntalk.com/post/nra-filing-and-move-toms-initial-reaction

"I expect perdition, I always have. I keep this building at my back, and several guns handy, in case perdition arrives in a form that's susceptible to bullets. I expect it will come in the disease form, though. I'm susceptible to diseases, and you can't shoot a damned disease." ~ Judge Roy Bean, Streets of Laredo

For the Patriots of this country, the Constitution is second only to the Bible for most. For those who love this country, but do not share my personal beliefs, it is their Bible. To them nothing comes before the Constitution of these United States of America. For this we are all labeled potential terrorists. ~ Dean Garrison

"When it comes to the enemy, just because they ain't pullin' a trigger, doesn't mean they ain't totin' ammo for those that are."~PegLeg

Jim Kennedy-ar154me

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Re: Nra files chapter 11
« Reply #14 on: January 20, 2021, 08:14:42 AM »
I also have not heard anything about LaPierre stepping down. I don't think the greedy SOB will. He will ride the money and power all the way down until the NRA IS gone.

The time for action is upon us and the enemy is at our gates. Let us not allow them one more inch of advancement but instead throw them through the gates of Hell.

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Re: Nra files chapter 11
« Reply #15 on: Today at 07:29:58 AM »

billt

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Re: Nra files chapter 11
« Reply #15 on: January 20, 2021, 08:17:36 AM »
I also have not heard anything about LaPierre stepping down. I don't think the greedy SOB will. He will ride the money and power all the way down until the NRA IS gone.

I must agree. I'll only believe LaPierre is gone when I see it for sure and for certain.... And I'm not holding my breath.

tombogan03884

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Re: Nra files chapter 11
« Reply #16 on: January 20, 2021, 08:28:48 AM »
I am free, they could put me in charge... salary of $1/ year.


I am sure with in 6 months I would either have it running like a well oiled machine, or I would quit because it was unfixable. 

I do have exp founding and running a non profit and running an 8 digit gross sales construction  company.

Ps, I really would not be a good choice.  I would pass off every one in Washington  in about 2 mins  flat for me calling out thier hyproacracy and corruption.  I would also most likely epstien myself with in a year as I would go after them.

You'd probably wind up in prison for strangling Fudd's.

Big Frank

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Re: Nra files chapter 11
« Reply #17 on: January 20, 2021, 05:45:23 PM »
Questions & Answers.

What did the NRA announce?


https://www.nraforward.org/questionsanswers
""It may be laid down as a primary position, and the basis of our system, that every Citizen who enjoys the protection of a free Government, owes not only a proportion of his property, but even his personal services to the defence of it, and consequently that the Citizens of America (with a few legal and official exceptions) from 18 to 50 Years of Age should be borne on the Militia Rolls, provided with uniform Arms, and so far accustomed to the use of them, that the Total strength of the Country might be called forth at a Short Notice on any very interesting Emergency." - George Washington. Letter to Alexander Hamilton, Friday, May 02, 1783

THE RIGHT TO BUY WEAPONS IS THE RIGHT TO BE FREE - A. E. van Vogt, The Weapon Shops of Isher

PegLeg45

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Re: Nra files chapter 11
« Reply #18 on: January 20, 2021, 06:26:19 PM »
Questions & Answers.

What did the NRA announce?


https://www.nraforward.org/questionsanswers

Quote
Can you guarantee member donations will be used to protect our Second Amendment rights?

All donations are used for the purpose of advancing the NRA’s mission, period.


I guess part of the NRA's mission was to make LaPierre a multi-millionaire.
"I expect perdition, I always have. I keep this building at my back, and several guns handy, in case perdition arrives in a form that's susceptible to bullets. I expect it will come in the disease form, though. I'm susceptible to diseases, and you can't shoot a damned disease." ~ Judge Roy Bean, Streets of Laredo

For the Patriots of this country, the Constitution is second only to the Bible for most. For those who love this country, but do not share my personal beliefs, it is their Bible. To them nothing comes before the Constitution of these United States of America. For this we are all labeled potential terrorists. ~ Dean Garrison

"When it comes to the enemy, just because they ain't pullin' a trigger, doesn't mean they ain't totin' ammo for those that are."~PegLeg

tombogan03884

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Re: Nra files chapter 11
« Reply #19 on: January 21, 2021, 09:00:20 AM »
I guess part of the NRA's mission was to make LaPierre a multi-millionaire.

Read that carefully.
It doesn't actually SAY that ANY of it is going to "Defend gun Rights".
Just that they will spend it.
 
Sorry Wayne, my money is going to GOA.
Kind of a PITA too.
I thought I was on the GO NH site .   :D
Oh well, I'll get them next.    ;D

 

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