GE Capital, is cutting off lending to guns shops, according to a report Wednesday in the Wall Street Journal that cited letters sent by the company to several gun shop owners. “Industry changes, new legislation and tragic events” led GE Capital to reexamine its policies on financing firearms, spokesman Russell Wilkerson told the Journal
via GE Capital stops lending to gun shops: WSJ – MarketWatch.
Not a word from GE about cancelling the Military Contracts such as the General Electric T700 engine used in the Apache and Blackhawk Helicopters, the F414-GE engine for the EA-18G Growler, the F414-GE engine for the F-18, repairs of T-64 engines used in CH53 and MH53E and many other contracts valued in the billions of dollars.
Hat Tip to Guns Save Lives.
This commentary from my money guy…………Some real twist and turns around the GE board table were likely to have made this decision that GE Capital (subsidiary of GE) stop lending to gun stores because of Sandy Hook shooting…but continue their business relationship with the largest gun seller in the country, Wal Mart.
Interestingly, Adam Lanza, mass murderer at Sandy Hook, is the son of GE Capital executive, Peter Lanza. GE also was a recipient of the government stimulous/bailout, a relationship that may have influenced GE’s decision to stop lending to exclusive gun stores. Of course one can’t overlook that GE’s CEO, Jeffrey Immelt, was joined at the hip with Obama for presidential campaigning and the Obama Care legislation. All this really indicates to me is the likelihood that gun stores are a small percentage of GE’s business. Walmart on the other hand is a substantial relationship they can’t afford to lose. Follow the money…
Follow the money……….
Doesn’t GE make the M134 mini-gun?
Just sayin’