General Electric’s (GE) financial arm has recently announced that the company will no longer be providing financial services to gun retailers. GE had previously offered loans to gun buyers through individual stores, but had limited the program in 2008 to existing customers only. According to USA Today, the move will affect 75 gun shops nationwide.

The decision was in part motivated by the shooting in Newtown, Connecticut. The tragic event happened not far away from GE’s headquarters in Fairfield, and many of the company’s employees called Newtown home. Adam Lanza, the shooter who took the lives of 27 people including his mother and himself, was the son of Peter Lanza, vice president of taxes for GE. Soon after, the company held several meetings to help employees affected by the shooting cope with the trauma.

GE spokesperson Russell Wilkerson wrote in an email that the new policy is a result of “industry changes, new legislation and tragic events that have caused widespread reexamination of policies on firearms.”

Wilkerson also added that the financing to gun shops from GE is “an immaterial part of our sales volume.”

Firearm retailers have already begun receiving letters notifying them of the program’s end. Stores that sell other merchandise in addition to firearms, such as Wal-Mart, will not be affected by the new policy.

General Electric is not the first major company to revise its relations with the firearm industry after Newtown. Earlier this year, Comcast Cable and online deal-and-coupon company Groupon announced they were pulling most firearm-related advertisements. Perhaps the largest stone in the pond is Cerberus Capital Management’s ongoing bid to sell the Freedom Group, a major player in the firearm industry that includes names like Bushmaster and Remington Arms.

Image from Blemo 23 on the Wikimedia Commons

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9 thoughts on “GE Capital Stops Funding Gun Shops

  1. Too bad, instead of funding to keep America strong, they chose to not fund why America became strong in the first place. Tragedies that happen with firearms, are just that, tragedies. Do companies stop loans for cars because a drunk driver used one to kill somebody? Of course not, same thing here. Where did the common sense go?

  2. Its not them its a strong arm by the government.. I can believe they have everything to do with it. They are trying every god damn thing they can to disarm the people. To enslave the people. Typical text book hitler, stalin, mau, dis are and destrying or genocide. Don’t believe me read the hisstory .. out government is tyranical and will stop at noght to disarm the people.

  3. If you are a gun owner and you witness any of the brass from GE Capitol being raped, robbed or killed, please do not use your gun to protect them.
    These pukes don’t deserve the protection that the second amendment affords normal citizens of this country.
    Every one who opposes the second amendment should be forced to put a sign in their yard or business stating that they are a constitution hating unarmed liberal!

    1. Isn’t this the same GE was still selling to Iran!!! I guess Americans are more dangerous then Iranians as far as Jeffy Imelt is concerned.

  4. We exist. We own ourselves. As self-owners we like to make choices to protect ourselves and enhance our lives and those of our loved ones. Placing as a high value adherence to this truth for both ourselves and others allows a balance. We have accepted that it is somehow useful to have others calling themselves “the state” control us, regardless of how peaceful our actions, against our will, and against our better judgement and interests in the belief that it is somehow helpful. Our beliefs contradict reality. You cannot protect your interests by being deprived of them by force. I would like people to realize that they can make their own choices. Please Google voluntaryism.

  5. So Adam Lanzas rampage continues as more people are hurt by his insanity and his murderous act. A small insignificant and demented person is now seen as an example of those who own guns. Millions of other innocent and non-violent gun owning citizens who have no murderous intent in their hearts are held to this little loser freak`s standard.

    Adam Lanza not only killed children and adults that day, he also killed the right of people to be judged as individuals and the right to live as free people.

    Had he instead used an automobile to run the children down outside at recess, killing them that way, would cars and trucks and those who own and use them be held responsible too? Would certain financial groups pull their funding from the automobile manufactures? Not likely. That is because the blame would be put on the real culprit, Adam Lanza and his irresponsible mother, not on the object that he used. Those who applaud this move by GE and who support it do not care about the real reasons behind this massacre. They just want to live in a world where there are no guns , period. They felt this way before this massacre and have used it to further their agenda

    1. I have the same thoughts as the FBI; they’re here, it’s just a matter of when they’ll take action. PS – It’s not just one specific group we need to be aware of.

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