Dicks destroys $15,000,000 worth of guns

[Logical1]

Dicks is making a big deal out of the fact they destroyed 15 million dollars of guns. Gun grabbers will think that is wonderful.

Think about it!!!

Dicks will write ofF the 15 million on their taxes. That means they are screwing the government, and in effect it is costing them NOTHING!!!!!!!!!!!!!!!!!!!!!

 

[bearpoker]

Dicks is making a big deal out of the fact they destroyed 15 million dollars of guns. Gun grabbers will think that is wonderful.

Think about it!!!

Dicks will write ofF the 15 million on their taxes. That means they are screwing the government, and in effect it is costing them NOTHING!!!!!!!!!!!!!!!!!!!!!

I saw that on Morning Joe this morning. It actually happened a few years ago, after Sandyhook. I don't know how much they could write off on their taxes. It's not exactly a business expense. But cynicism abounds, and you might be right. I'm sure we have some accountants here who could tell us for sure.

 

[bmr528]

Not saying that it can't be done,, but,, how do you destroy inventory ( on purpose ) and then take it off taxes..

djl

 

[SCrider]

Dicks is making a big deal out of the fact they destroyed 15 million dollars of guns. Gun grabbers will think that is wonderful.

Think about it!!!

Dicks will write ofF the 15 million on their taxes. That means they are screwing the government, and in effect it is costing them NOTHING!!!!!!!!!!!!!!!!!!!!!

Every source I've seen says it was $5 million. Why did you inflate the number?

 

[poweRob]

Dicks is making a big deal out of the fact they destroyed 15 million dollars of guns. Gun grabbers will think that is wonderful.

Think about it!!!

Dicks will write ofF the 15 million on their taxes. That means they are screwing the government, and in effect it is costing them NOTHING!!!!!!!!!!!!!!!!!!!!!

How about you put this in the right forum on this site instead of infecting other parts with this whiny tripe?

 

[Redress]

Moderator's Warning:

Thread moved.

 

[aociswundumho]

Not saying that it can't be done,, but,, how do you destroy inventory ( on purpose ) and then take it off taxes..

Who knows, but if they are anything like the typical progressive (full of self-hatred), then they probably like the idea of inflicting financial pain upon themselves.

Plus they get loads of virtue signalling street cred.

 

[washunut]

Not saying that it can't be done,, but,, how do you destroy inventory ( on purpose ) and then take it off taxes..

djl

If you destroy the inventory there is zero value thus the write off. So between state and local taxes they probably had something like $2 million in savings on their $5 million write off.

 

[akyron]

Every source I've seen says it was $5 million. Why did you inflate the number?

Dick’s Sporting Goods destroys $5 million worth of weapons

 

[Jay59]

Dicks is making a big deal out of the fact they destroyed 15 million dollars of guns. Gun grabbers will think that is wonderful. Think about it!!!
Dicks will write ofF the 15 million on their taxes. That means they are screwing the government, and in effect it is costing them NOTHING!!!!!!!!!!!!!!!!!!!!!

I agree that gun collectors will welcome the news. Scarcity tends to increase value.

They are not screwing the government and it is not costing them nothing. That's fake news.

 

[Lutherf]

Not saying that it can't be done,, but,, how do you destroy inventory ( on purpose ) and then take it off taxes..

djl

You don't. You can take expenses related to the destruction of the inventory and you're not going to pick up sales income from that inventory but you don't get to take a loss on it. It's kind of like if you decide to intentionally burn down the building you own. They don't let you take a loss on the intentional destruction of assets unless there's a really, REALLY good reason.

 

[Sabre]

I agree that gun collectors will welcome the news. Scarcity tends to increase value.

They are not screwing the government and it is not costing them nothing. That's fake news.

It's not fake news, it did not come from a media source rather from his own musings or opinion. You can say HE is wrong on that, but that is about it which will probably result in a "prove it" "no you disprove it" situation, but it's not news of any fashion.

Fake news (also known as junk news, pseudo-news, or hoax news ) is a type of yellow journalism or propaganda that consists of deliberate disinformation or hoaxes spread via traditional news media (print and broadcast) or online social media

 

[Jay59]

It's not fake news, it did not come from a media source rather from his own musings or opinion. You can say HE is wrong on that, but that is about it which will probably result in a "prove it" "no you disprove it" situation, but it's not news of any fashion.

I will concede that he are not a media source. I hereby amend it false statement instead of fake news.

Is that better?

 

[zsu2357]

Dicks is making a big deal out of the fact they destroyed 15 million dollars of guns. Gun grabbers will think that is wonderful.

Think about it!!!

Dicks will write ofF the 15 million on their taxes. That means they are screwing the government, and in effect it is costing them NOTHING!!!!!!!!!!!!!!!!!!!!!

True, but it did cause a lot of costumers to shop elsewhere.

 

[Airyaman]

Dicks is making a big deal out of the fact they destroyed 15 million dollars of guns. Gun grabbers will think that is wonderful.

Think about it!!!

Dicks will write ofF the 15 million on their taxes. That means they are screwing the government, and in effect it is costing them NOTHING!!!!!!!!!!!!!!!!!!!!!

Can you prove that they will write it off on their taxes? Because that would be fraud.

 

[Sabre]

I will concede that he are not a media source. I hereby amend it false statement instead of fake news.

Is that better?

Much.

 

[Chillfolks]

Good for Dicks. This will not effect me in the least when it comes to avoiding their stores. I find their goods to be overpriced and inventory on items I would go there for to be limited.

 

[BahamaBob]

This move has caused Dick's a $250 million dollar loss. Kinda like blowing up your car to protest gas prices. This CEO should have been sent packing by the Board of Directors. It certainly cost a lot of their employees their jobs.

By the way, Dick's still sells guns. They also sell mock AR weapons to children.

Dick’s Sporting Goods CEO feels fine about losing $250 million following gun-sale restrictions | News | Pittsburgh | Pittsburgh City Paper

 

[Outlook]

Dicks is making a big deal out of the fact they destroyed 15 million dollars of guns. Gun grabbers will think that is wonderful.

Think about it!!!

Dicks will write ofF the 15 million on their taxes. That means they are screwing the government, and in effect it is costing them NOTHING!!!!!!!!!!!!!!!!!!!!!

The left will now have another corporation to criticize for lowering their tax burden.

 

[TurtleDude]

This move has caused Dick's a $250 million dollar loss. Kinda like blowing up your car to protest gas prices. This CEO should have been sent packing by the Board of Directors. It certainly cost a lot of their employees their jobs.

By the way, Dick's still sells guns. They also sell mock AR weapons to children.

Dick’s Sporting Goods CEO feels fine about losing $250 million following gun-sale restrictions | News | Pittsburgh | Pittsburgh City Paper

If I were on a company board and a CEO lost the company 250 million I know I'd vote to fire his sorry ass

 

[Noodlegawd]

Dick’s Sporting Goods destroys $5 million worth of weapons

They're getting a lot more than $5M worth of free advertising out of it.

 

[BahamaBob]

They're getting a lot more than $5M worth of free advertising out of it.

Yeah, it worked so well the lost $250 million. What is the next step, advertise for bankruptcy lawyers?

 

[dogboy49]

If I were on a company board and a CEO lost the company 250 million I know I'd vote to fire his sorry ass

As a consumer, I stopped patronizing Dick's when they came up with their absurd gun policies.

Also as a consumer, I recently divested myself of any mutual funds which were holding Dick's equities. I didn't do this because I don't like their gun policies, I did this because I believe Dick's equities will tank again as they re-attempt to reach out to the anti-gun crowd.

 

[BahamaBob]

As a consumer, I stopped patronizing Dick's when they came up with their absurd gun policies.

Also as a consumer, I recently divested myself of any mutual funds which were holding Dick's equities. I didn't do this because I don't like their gun policies, I did this because I believe Dick's equities will tank again as they re-attempt to reach out to the anti-gun crowd.

View attachment 67265879

That was a good financial move. Any corporation that alienates half their customer base is just plain stupid. This is like GM burning all their Corvettes because 3 guys were caught speeding.

 

[beerftw]

Dicks is making a big deal out of the fact they destroyed 15 million dollars of guns. Gun grabbers will think that is wonderful.

Think about it!!!

Dicks will write ofF the 15 million on their taxes. That means they are screwing the government, and in effect it is costing them NOTHING!!!!!!!!!!!!!!!!!!!!!

Truthfully dicks sporting goods is about worthless to begin with, their sporting goods are only better than anyone else in a tiny area, like for me kayaking goods, but for nearly everything else everyone else has them beat. Add to that I have never once in my life seen an ar-15 they claimed to have stopped selling in their stores either tells me it was from the field and stream brand or they had a secret handshake into a backroom to buy an ar-15 no one but a few people knew of.'


Now they claim to destroy them which is utter stupidity anyways, technically if they willingly destroyed them over political reasons the govt should not give squat over a recorded loss since they could have sold them to another vendor.