National Dick's Sporting Goods CEO says company destroyed $5 million worth of weapons

[Member 34319]

Hard to say, but overall their stock is going in the negative direction.

 

[AMT]

Wonder how the stockholders and Board of Directors feel about the CEO flushing $5M down the crapper...

This is exactly what i was thinking too. How did he convince the shareholders/stockholders to flush 5 million worth of inventory?

 

[MannyGlocks]

I'm guessing he has assumed consent to ruin millions of dollars worth of inventory at will.

Perhaps, some of his influential shareholders knew nothing of his arbitrary destruction and they will move to remove him...hope springs eternal in the youthful (or old and plugged up) heart...

 

[Flymph]

Probably could get more in scrap than anyone would pay for a Dick's special...

 

[Dunes190203]

If someone finds a verifiable video of the destruction, I'd love to see it. Until then color me skeptical. Sounds like more publicity/virtue signaling.

 

[No_Regerts]

Follow the money. You got to wonder what billionaire associate covered these "losses".

 

[nammac]

Follow the money. You got to wonder what billionaire associate covered these "losses".

Soros or Bloomturd, I'm sure...

 

[teflon6string]

Maybe Dick's Country Dodge should destroy their inventory of cars and trucks because of 10,874 DUI fatalities in 2017.

How long would a rabid automobile-control lobby last if law abiding citizens everywhere were threatened (even incrementally) with bans and confiscation?

 

[bbbass]

Despite suggestions to the contrary, I'm thinkin there's no legitimate way to write that off on taxes claiming it as a "loss". Cost of doing business? Maybe. But I'm having a real hard time imagining some hard nosed IRS auditor saying "Oh, you voluntarily destroyed your inventory... no problem!" If I purposely run my company car into a tree and then claim it as a loss on my taxes, what would happen? We got any tax specialists here???

 

[Lilhigbee]

Despite suggestions to the contrary, I'm thinkin there's no legitimate way to write that off on taxes claiming it as a "loss". Cost of doing business? Maybe. But I'm having a real hard time imagining some hard nosed IRS auditor saying "Oh, you voluntarily destroyed your inventory... no problem!" If I purposely run my company car into a tree and then claim it as a loss on my taxes, what would happen? We got any tax specialists here???

My thoughts as well. Perhaps a few letters to the IRS suggesting they conduct an audit to make sure these aren't claimed as some kind of loss?? I'm sure Dick's has lots of accountants, might as well give them something to do...

 

[kisfish]

last name Ron, first name Mo this ceo is...…...

 

[ma96782]

Despite suggestions to the contrary, I'm thinkin there's no legitimate way to write that off on taxes claiming it as a "loss". Cost of doing business? Maybe. But I'm having a real hard time imagining some hard nosed IRS auditor saying "Oh, you voluntarily destroyed your inventory... no problem!" If I purposely run my company car into a tree and then claim it as a loss on my taxes, what would happen? We got any tax specialists here???

The inventory was lost in a "boating accident".

Aloha, Mark

 

[bbbass]

The inventory was lost in a "boating accident".

Aloha, Mark

Musta been a big danged boat!!!

 

[nammac]

Musta been a big danged boat!!!

Yep, the USS DICK...

 

[bolus]

This is exactly what i was thinking too. How did he convince the shareholders/stockholders to flush 5 million worth of inventory?

He's a billionaire who inherited his money and company from his dad, Dick Stack. The company pays him $9M a year on top of that. He could start 20 companies to virtue signal and run them all into the ground and still be a billionaire. He does not care about that $5M

If the company fails he is still a billionaire.

 

[bbbass]

Yep, the USS DICK...

USS Tricky Dick!!

 

[Ratfink]

Dick’s Sporting Goods Destroyed $5 Million Worth of Guns (Published 2019)

While promoting his new book, the chief executive said the retailer was reviewing gun sales chainwide. “If we do these things and it saves one life, don’t you think it’s worth it?” he said.

www.nytimes.com

Boycott Dick's !!!!!!

 

[xlsbob]

more like "if we do this is there publicity and a tax deduction in it"

 

[Rickenbacher39]

I tried to care just the tiniest bit about Dicks.
I tried hard. Even pulled a groin muscle.
I failed miserably.
I apologize.
Never been to Dicks, never going to Dicks, never going to care about Dicks
and unless ANOTHER thread about Dicks shows up, this must be the 50th one this week,
I won't even think about Dicks. If it's OK with everyone I'd like to keep it that way.
I hope that clarifies it for everyone.

 

[No_Regerts]

I tried to care just the tiniest bit about Dicks.
I tried hard. Even pulled a groin muscle.
I failed miserably.
I apologize.
Never been to Dicks, never going to Dicks, never going to care about Dicks
and unless ANOTHER thread about Dicks shows up, this must be the 50th one this week,
I won't even think about Dicks. If it's OK with everyone I'd like to keep it that way.
I hope that clarifies it for everyone.

Pulled your groin thinking about Dicks?