Where a Hispanic Catholic, and a Computer Geek write about Gun Rights, Self Defense and whatever else we can think about.
Instead of boycott, why don’t several million gun owners decided to buy one or two shares a piece and then we have one representative go have a nice little chat with them about this dumb policy?
You reckon they would pay attention to somebody that represents 10 million shares?
Just a thought.
Semi-retired like Vito Corleone before the heart attack. Consiglieri to J.Kb and AWA. I lived in a Gun Control Paradise: It sucked and got people killed. I do believe that Freedom scares the political elites.
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You probably already own shares in one of your mutual funds.
In a word, no. They wouldn’t care. Not in the slightest.
Citigroup currently has, according to Yahoo Finance, 2.56 billion shares outstanding, 82.26% of which are held by institutional investors. That 10M shares is less than half a percent of the total shares. Even if you owned every single one of the non-institutional shares, you still wouldn’t have nearly enough to seriously contest any ballot issue if the institutionals decided to oppose it.
Too much power held by few assholes.
Yes, but a related problem is that most people don’t bother to vote their proxies on the shares they do own, nor do they look into how to instruct their mutual funds how to vote on the shares in their funds.
Voter apathy is even worse in the investing world, and yes, in the absence of direction, the folks running the institutional shares generally do what they want.
Securitas USA (the American branch of Securitas AB) uses a Citibank prepaid card to distribute pay to all of its officers. Securitas USA and its subsidiary groups like Pinkerton have about 18-20% of the marketshare for security services in the country… and many of its officers are armed.
Most of those armed officers carry “double stacked” 9 mm handguns and a few use AR-15s of various types with STANAG magazines. The company issues some of the equipment, but it’s pretty common for individual officers to supplement with privately purchased gear. Plus, many armed (and unarmed) officers are also firearm-owners in private life and enjoy shooting recreationally, hunting, and/or own guns for-l defense off-duty.
If I understand Citigroup’s new policy correctly, the new policy forbids the sale/purchase of “high capacity magazines.” But the policy does not define the term… But we’ve seen many states, like New York, set the arbitratry magic number at something like 10. Which means that your bog-standard 15-round 9 mm handgun is neutered and that the STANAG 30-round AR-15 is definitely going to be above the magic number.
(Full disclosure: I work for Securitas, although I am not an armed officer. Thanks be to John Moses Browning that I finally got HR to process my direct deposit paperwork last week.)
Thats the hard part Sir. Getting We the People organised and unified…
I have heard gun owners sayin dumb things like “why do you need an AR” GUN OWNERS!!!sayin that.. good idea Sir,lets do it..
Rule 308 is looking to be a self fulfilling prophecy
I’m in for 5 shares. Let me know who to assign my proxy to.
Two great quotes from an article about Citi’s wonderful virtue signaling. In other words, we can look like we are being brave in risking business to “do the right thing” when they really have absolutely no skin in the game.
“Corbat, who called himself “an avid outdoorsman and responsible gun owner,” said Citi also will start talks with other finance companies on possible additional steps to improve gun safety. It will also speak with clients that make guns, though the bank has few such relationships, he said.”
“Citi provides store-branded credit cards to various retailers. None currently sell guns but if Citi were in talks with such a retailer, Skyler said, “we would want to see these best practices used at their point-of-sale.”