Bank of America Hates 2nd Amendment

[afterburn 549]

This was in a FWD to me from a pretty reputable guy
.................................................. ...............................................

"From the Owners of McMillan Mfg in Phoenix, Arizona"
This is very important reading.
It is a story that is very hard to believe
. . . . but is happening.

New Roman; "From the Owners of McMillan Mfg in Phoenix, Arizona

McMillan Mfg in Phoenix, Arizona, was contacted by Bank of America and
informed that they will no longer be allowed to use their services ( Bank of
America ) because they are in the firearms business and support the second
amendment.

McMillan Fiberglass Stocks, McMillan Firearms Manufacturing, McMillan Group
International have been collectively banking with Bank of America for 12
years.

Today Mr. Ray Fox, Senior Vice President, Market Manager, Business Banking,
Global Commercial Banking (Bank of America) came to my office.

He scheduled the meeting as an "account analysis" meeting in order to
evaluate the two lines of credit we have with them.

He spent 5 minutes talking about how McMillan has changed in the last 5
years and has become more of a firearms manufacturer than a supplier of
accessories.

At this point I interrupted him and asked "Can I possibly save you some time
so that you don't waste your breath? What you are going to tell me is that
because we are in the firearms manufacturing business you no longer want my
business."

"That is correct", he says.

I replied "That is okay, we will move our accounts as soon as possible. We
can find a 2nd Amendment friendly bank that will be glad to have our
business. You won't mind if I tell the NRA, SCI and everyone one I know that
BofA is not firearms-industry friendly?"

"You have to do what you must", he said.
"So you are telling me this is a politically motivated decision, is that
right? Mr. Fox confirmed that it was. At which point I told him that the
meeting was over and there was nothing left for him to say.

I think it is important for all Americans who believe in and support our 2nd
amendment "right to keep and bear arms" should know when a business does not
support these rights.

What you do with that knowledge is up to you. When I don't agree with a
business' political position, I cannot, in good conscience support them.

We will soon no longer be accepting Bank of America credit cards as payment
for our products.


I am fine with you re-posting it. . . . . . . . Thank for your support.

Kelly D. McMillan
Director of Operations
McMillan Group International, LLC
623-582-9635
1638 W Knudsen Dr
Phoenix, Arizona 85027
McMillan Integrity-Global Vision
__._,_.___

[MBAtarga]

an old SNOPES story - half accurate - half not:

snopes.com: Bank of America Gun Sales

[widebody911]

Originally Posted by afterburn 549

This was in a FWD to me from a pretty reputable guy

Do you guys do any sort of checking before blindly forwarding this crap?

I think you should test your bank's "firearm friendly" policies by taking one (or more!) guns with you up to the teller window. And you should wear a ski mask, because it can get chilly in there.

[gamin]

I think there is enough smoke at BoA to assume there is fire. Also, SNOPES is half accurate - half not.

[Amail]

There's one born every minute...

Let me snopes that for you

[Buckterrier]

Originally Posted by widebody911

I think you should test your bank's "firearm friendly" policies by taking one (or more!) guns with you up to the teller window. And you should wear a ski mask, because it can get chilly in there.

I bank at BofA and yes I carry when I go in. I'm sure you meant to type green when you state to wear a ski mask in the bank. Ours asks you remove your sunglasses and hat when you come in, common sense. Now the day they might see my concealed weapon and asks me not to carry WILL be the day I say later.

[Racerbvd]

A friend of mine is a BOA branch manager, I flat out asked him about the anti-gun BOA policy that I heard about.

Aaron CONFIRMED that BOA wasn't taking any new business from gun related business and that they(corporate) are looking to purge gun related accounts..

I trust a guy, that we trust with some of our business accounts (and enjoys shooting too) much more than snopes, and he did say it was a Non-Spoken policy)

[jyl]

Firearms related businesses are increasingly unattractive to investors and other financial entities.

It is not uncommon for institutional investors to require that their retained investment managers keep firearms related stocks out of the investor's portfolios. That currently means just gun manufacturers. In future I could see it including sporting goods retailers that derive a substantial amount of revenues from firearms and ammunition sales - though I haven't encountered that restriction myself (yet).

Interestingly, Cerberus has so far been unable to sell Bushmaster, a holding it decided to divest.

[Chocaholic]

I can't think of anything less relevant when choosing a bank.

[Rick Lee]

This is old news and BofA is most definitely anti-gun. I carry in there every time and am going again tomorrow to pay the mortgage in person. The one I usually go to has recently started putting an armed guard at the door, who acts more like a doorman and hold the door for everyone. If they hadn't bought my mortgage servicing, they'd never get a dime from me and I will be refinancing soon anyway.

[boba]

Originally Posted by jyl

Firearms related businesses are increasingly unattractive to investors and other financial entities.

It is not uncommon for institutional investors to require that their retained investment managers keep firearms related stocks out of the investor's portfolios. That currently means just gun manufacturers. In future I could see it including sporting goods retailers that derive a substantial amount of revenues from firearms and ammunition sales - though I haven't encountered that restriction myself (yet).

Interestingly, Cerberus has so far been unable to sell Bushmaster, a holding it decided to divest.

Did you just make that up? While it is true that some investors make their investment decisions on ideological basis, they are on both sides of every issue. As far as the viability of businesses in the 2ed amendment space, they have been outperforming. S&W just reported record numbers. Those who are interested in returns will continue to invest, those who wish to make a political statement are free to do so. That's what makes a market.
Good investing.

[nota]

more BIG LIEs from the rightwing

[jyl]

No, I did not make that up. I am in that business, some of our clients have those restrictions, as do many large institutional investors. As a result I do not own any firearms companies in the portfolios (there's only two such stocks in the US anyway). So far the restrictions haven't hit sporting goods retailer stocks, but it wouldn't shock me. As for SWHC, it is trading at just 8X forward earnings, a very steep (50%) discount to what other consumer product companies with similar growth and earnings are trading for. And you can look up the info on Bushmaster yourself.

Quote de jyl

Firearms related businesses are increasingly unattractive to investors and other financial entities.



It is not uncommon for institutional investors to require that their retained investment managers keep firearms related stocks out of the investor's portfolios. That currently means just gun manufacturers. In future I could see it including sporting goods retailers that derive a substantial amount of revenues from firearms and ammunition sales - though I haven't encountered that restriction myself (yet).



Interestingly, Cerberus has so far been unable to sell Bushmaster, a holding it decided to divest.

Did you just make that up? While it is true that some investors make their investment decisions on ideological basis, they are on both sides of every issue. As far as the viability of businesses in the 2ed amendment space, they have been outperforming. S&W just reported record numbers. Those who are interested in returns will continue to invest, those who wish to make a political statement are free to do so. That's what makes a market.

Good investing.

[Vintage Racer]

Originally Posted by Racerbvd

Aaron CONFIRMED that BOA wasn't taking any new business from gun related business and that they(corporate) are looking to purge gun related accounts..

What is Aaron's last name? Who constructed that ~sentence?

BOA seems to like me. I don't have a problem with them. Wells Fargo (Yes, the dudes from CA) treat me with the best costumer service.

[gprsh924]

i can't think of anything less relevant when choosing a bank.

+1

[onewhippedpuppy]

I can't think of anything less relevant when choosing a bank.

If choose to give your money to businesses that actively campaign against things which you believe in, then you aren't a very principled individual. Kinda like people who say that Walmart is evil, then shop there anyway. I don't know if the story is true and I don't deal with Bank of America (too many horror stories), but I definitely don't contribute to businesses that campaign against my beliefs.

[afterburn 549]

Originally Posted by onewhippedpuppy

If choose to give your money to businesses that actively campaign against things which you believe in, then you aren't a very principled individual. Kinda like people who say that Walmart is evil, then shop there anyway. I don't know if the story is true and I don't deal with Bank of America (too many horror stories), but I definitely don't contribute to businesses that campaign against my beliefs.

Thats why America is in so bad a shape today !
There is no core values anymore
No basic moral integrity of right and wrong .
If the founding Fathers could walk in they would kick anyone out tring to remove a piece of the Constitution !.
Most people have lost all track of what happened in the beginning.
No appreciation for freedom......Now were going to pay, because people forgot freedom cost..not money but blood
BoA sucks anyway.....
I could tell you several real horror stories about them, No rumors needed.
I boycotted them 5 years ago

[Baz]

Well.....my reason for not banking at BoA has to do with the negative vibe I get inside the building. My bank (TD) is the friendliest I have ever had experience with.

I go where I feel comfortable.

YMMV of course.....

[Joe Bob]

B of A sucks donkey balls......

Ten points to the one who can recall the bank's original name w/o Google.

[Racerbvd]

Originally Posted by afterburn 549

Thats why America is in so bad a shape today !
There is no core values anymore
No basic moral integrity of right and wrong .
If the founding Fathers could walk in they would kick anyone out tring to remove a piece of the Constitution !.
Most people have lost all track of what happened in the beginning.
No appreciation for freedom......Now were going to pay, because people forgot freedom cost..not money but blood
BoA sucks anyway.....
I could tell you several real horror stories about them, No rumors needed.
I boycotted them 5 years ago

Yep, if it wasn't for a business partner, I wouldn't either, but because of our relationship with the one guy, we get lots of perks..