Category: Business

Smith & Wesson Sues Hawaii Over The High Cost Of Public Records
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The AG’s office wanted more than $20,000 for records related to firearms issues

Gun manufacturer Smith & Wesson is suing the state Attorney General’s Office over what it sees as an exorbitant amount of fees for public records related to firearms issues.

The AG’s office wanted as much as $27,000 for the records requested by the gun manufacturer and said it would take attorneys hundreds of hours to complete the request, the company says in a civil lawsuit filed Monday. The lawsuit says Smith & Wesson filed similar records requests in other states, but has not faced the same barriers to access.

“It appears to the client and it appears to us that the amount of time the state is claiming, and therefore the amount of fees, is an effort to discourage the public records request,” attorney Jeff Portnoy, who is representing Smith & Wesson, said.

In 2020, a third-party agency called Cogency Global filed three records requests on behalf of Smith & Wesson. The first request asked for communications between the department and the Firearms Accountability Counsel Task Force, a coalition of law firms that seek to prevent gun violence.

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Another Loss: NRA v. Oliver North

NRA’s “leadership” moved to expel its former president North from membership (yes, to cancel his life membership) in the NRA, he claimed protection under the “whistleblower” statute, and NRA sued him for a declaration that it had the right to expel him. He responded by moving to have the case “stayed” (put on hold) until the NY Attorney Generals lawsuit was decided, and Brewer opposed.

North won the motion. Add one more to NRA’s string of expensive losses. Among the court’s determinations are:

“Although the NRA’s damages claims are not directly at issue in the Dissolution Case, the AG’s Complaint is predicated on factual allegations that bear heavily on these claims. Thus, while the NRA seeks to recover damages for North’s alleged concealment of his lucrative employment relationship with Ackerman, the AG’s Complaint alleges, mirroring North’s Answer, that LaPierre himself “negotiated” the employment contract in order to persuade North to accept the “unpaid position” of NRA president (AG’s Complaint, ¶¶ 444-451, 465; see Answer, ¶ 11). Further, if North were found in the Dissolution Case to be a whistleblower who acted in good faith, the NRA’s allegation of “obstructive behavior” here (Amended Complaint, ¶ 109) would have to be viewed in a very different light.”

Of course.

“Moreover, this litigation may itself be part of the retaliation allegedly inflicted upon North for his whistleblowing activities.”

Of course.

This seems to be yet another case the attorneys created to generate legal fees. Is it important to anyone whether North keeps his NRA life membership? If it is, grow a pair, vote to expel him, don’t ask for a court’s advice. Let him sue, if he wants to. If you sue and he moves to stay the case, it’s obvious he is going to win that (does anyone seriously believe that his legal position won’t be much better or worse depending upon whether the AG wins or loses?), so agree to it and save NRA the cost of opposing.

This is just like the suit against Ackerman McQueen. In that lawsuit, NRA was attacking a written and grossly overpriced contract that LaPierre and its president and one vice-president had signed and the board had sheepishly accepted for many years. Here, NRA is complaining of a written arrangement made by LaPierre (the only one who would have known that Ackerman McQueen was available as the EVP’s slush fund, and that no one would complain if he diverted a million-plus via it). In both of the legal fights, the only ones who benefit are the attorneys.

‘Mega Emergency’ Unfolds For World’s Top Coffee Growers As Fertilizer Costs Spike.

Coffee farmers worldwide are feeling the pressure of sanctions, as the Russian invasion of Ukraine sent fertilizer prices soaring, prompting concerns of declining harvests this year.

Bloomberg reports coffee farmers in Brazil, Nicaragua, Guatemala, and Costa Rica, some of the largest coffee-producing countries in the world, are having trouble affording high fertilizer costs. Some farmers are substituting organic waste as a low-cost solution to nitrogen, phosphorous, and potash fertilizers. The move, however, will result in significantly reduced harvests of the bean.

Readers may recall we published a chart pack over the weekend of how the Ukrainian conflict and resulting sanctions by western countries on Russia have choked the world of natural resources, sending prices of commodities higher as traders fear shortages.

One chart shows that Russian fertilizer exports end up in South America, a top coffee-producing region.

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But the econuts demand that we stop using the petrochemical produced fertilizers and all the fuel needed to produce the needed extra to make up for this.

Agco CEO says Russia-Ukraine war’s potential consequences on global food supply is ‘a really big deal’

Diminished food supply resulting from Russia’s invasion of Ukraine has potential consequences beyond empty stomachs, Agco chief executive Eric Hansotia told CNBC’s Jim Cramer on Thursday.

According to Hansotia, about “13% of the global calories came out of production” when Russian and Ukrainian borders shut down.

“This is a really big deal, because when that volume of calories comes out of the food chain, it triggers other things. Not only hunger, but unrest. The last time we had this kind of disruption, it was one of the major triggers for the Arab Spring,” he said in an interview on “Mad Money,” referring to the pro-democracy protests that took place in the Middle East and North Africa in the early 2010s.

The Russia-Ukraine war has put pressure on farmers globally to produce more crop to make up for a gap in supply left by the two countries. As prices of wheat rise, so do prices of fuel and fertilizer that drive up costs for farmers.

Cramer warned earlier this week that wheat and corn futures would continue to rise and urged investors to invest in a basket of agriculture stocks, with Agco earning a spot on the list.

Hansotia said that Agco is prioritizing helping farmers increase their crop without exhausting their limited supply or making purchases that could eat into their profits. He added that the company’s investment into technology firms like Apex.AI and Greeneye Technology, as well as its acquisition of Appareo Systems has helped in this mission.

As for the agriculture company’s business operations in Russia and Ukraine, the chief executive said that the company has prioritized the safety of its employees and dealers.

“We moved a lot of them out to the safer part of the country or across the border. Hundreds, in fact, have been part of that process,” he said, adding that the company tracks the employees and provides funds for them.

Another priority is “helping the farmers in that area stay productive,” Hansotia said. Agco has also helped provide housing for displaced Ukrainians and made donations to assist refugees, he added.

Fewer Americans Are Hunting, And That Raises Hard Questions About Funding Conservation Through Gun Sales

The Conversation – Gun and ammunition sales in the U.S. have skyrocketed in recent years. And although it may come as a surprise, this trend has supported conservation activities.

That’s because every firearm and bullet produced or imported into the U.S. is subject to an excise tax dedicated to wildlife conservation and restoration. In 1998, these taxes generated about US$247 million in inflation-adjusted apportionments to state fish and wildlife agencies from the federal U.S. Fish & Wildlife Service, which collects and manages these funds. By 2018, these revenues had more than tripled to $829 million.

These taxes on guns and ammunition sales provide a growing share of budgets for state fish and game agencies. But as scholars of environmental politics, conservation and wildlife management, we have found that the growth in conservation funding driven by exploding guns sales presents at least three critical moral and ethical issues.

First, the original argument for using gun taxes to fund conservation was that most gun users were hunters who used lands and wildlife, and should help to support those resources. But our research shows that gun use is increasingly unrelated to hunting.

Second, the recent spike in gun sales is linked to violence and social unrest. Even if most gun owners never commit a crime, this means that overall, conservation is benefiting from gun-related social strife and harm.

Finally, recent changes to the law allow the use of gun-related excise taxes to support activities with little or no connection to hunting, wildlife or outdoor recreation.

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Going through Basic Training – I kid you not – we had a four (4) hour block of instruction on how to write checks, write deposit slips, balance a check book and monthly statement. The Army was tired of cleaning up after soldiers got in financial straights and was trying to mitigate the problem.

Florida to soon require financial literacy class for high schoolers to graduate.

TALLAHASSEE, Fla. — With the flick of his pen, Gov. Ron DeSantis on Tuesday signed legislation into law that requires high school students to take a financial literacy and money management class to graduate.

“Financial literacy is providing a foundation for students that will be applicable in their lives regardless of what path they take,” DeSantis said during a news conference at the Innovation Preparatory Academy in Wesley Chapel.

SB 1054: “Financial Literacy Instruction in Public Schools” passed both the state House and Senate unanimously. The legislation applies to students entering high school in the 2023-2024 school year and thereafter.

The legislation revises the required credits for a standard high school diploma to require a half-credit in personal financial literacy and money management.

“Many young people in this state graduate from high school without having basic financial literacy or money management skills, and the Legislature finds that, in light of economic challenges nationwide, sound financial management skills are vitally important to all Floridians, particularly high school students,” the bill reads.

The class will teach students the following, among other topics:

  • Types of bank accounts offered.
  • Opening and managing a bank account.
  • Basic principles of money management.
  • Completing a loan application.
  • Local tax assessments.

In 2021, 25 states introduced legislation that would require financial literacy courses in high school curriculums, according to Next Gen Personal Finance’s bill tracker.

The hope is for the bill to help better prepare students for adulthood. The bill will go effect on July 1, 2022.

Hang a few executives or burn them at the stake and they’ll feel differently. The market is, in the end, not the only thing that can hold people accountable. It’s unwise to forget that–Prof Reynolds

BLUF:
A deeper concern is what happens when private institutions like corporations, universities, and media exercise the same power without even the pretense of accountability. If the large financial institutions want to, they can act as gatekeepers to society and would be held accountable only by the market, to which they also hold the keys.

This push-button tyranny is real, and it represents a greater abuse of power than any that has been exercised before within the boundaries of liberal democratic government. It is new, it is breathtaking, and it is very dangerous.

We will delete you

Before beating a hasty retreat, Canadian Prime Minister Justin Trudeau went where no world leader has gone before. Last month, he became the first Western leader to wield the financial system as a push-button weapon of government enforcement against opinions and behaviors that he found politically distasteful or inconvenient. This is an entirely new form of power, which much of the world has not even begun to reckon with—but which may well define our politics in the years to come.

The unification of finance and technology has allowed for new forms of trade, commerce, and business. The ability to make purchases worldwide, bank from home, do taxes on your couch, and get faster approval for financial instruments like mortgages makes our lives easier. But all of this comes with a catch: The same technology that delivers instant banking and worldwide access to things we like also creates the possibility for abuse of power the likes of which we have never seen.

In order to understand the problem that faces us now, we first need to understand two concepts: real-world friction and financial centralization.

To grasp the idea of real-world friction, let’s take the example of arresting, convicting, and jailing a citizen in a democracy. In order to make an arrest, a police officer must be hired and given the authority to make the arrest. He must locate the individual he needs to arrest. He must identify that individual. He must physically perform the arrest by placing handcuffs on the individual, and take him to a holding facility where he must read the arrestee his rights. As you can imagine, finding people and taking them to jail is a time-consuming, tedious, and difficult process.

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U.S. history shows that many times we’ve gone to war over economic ‘disagreements’ that threatened the purported value of the dollar. As an exemplar;  a close inspection of why we hammered Libya was that KaDaffy was seriously working on an African monetary unit to bypass the dollar, a new dinar, backed by gold.

BLUF:
Far be it for me to be a harbinger of too many uncomfortable predictions at once, but, as I wrote last year, I also strongly believe that China will eventually back its forthcoming digital currency with gold to further strengthen its economic and monetary posture globally.

The contrast between a forthcoming divided global economy would be stark: nations like China and Russia seem genuinely interested in the idea of sound money backed by commodities, while the United States seems preoccupied with jargon filled academic circle jerks trying to convince ourselves that debt is money that “we owe to ourselves”, to quote Paul Krugman, and that money literally grows on trees.

If given the choice between the two ideologies, where do you think the world is going to wind up?

I’m not sure we’re ready to embrace the answer here in the United States, but we better get ready to.

The Dominance Of The U.S. Dollar Is Fading Right Before Our Eyes.

Saudi Arabia joins Russia as the latest oil-backed nation to eye defecting from the U.S. dollar in favor of China’s Yuan.

It was just a couple of weeks ago that I wrote an article arguing that the economic sanctions we have cast upon in Russia, due to its invasion of Ukraine, likely mark the beginning of a period where China and Russia would bifurcate the global monetary system, leading them to eventually challenge the U.S. dollar’s reserve status.

Now, Saudi Arabia is joining the fray, further threatening to tip the balance of the global monetary scales that have kept the U.S. dollar afloat for decades.

The fact that predictions of a “new economy” and “new monetary system” only exist on fringe blogs like mine and haven’t gone mainstream given the current economic situation with Russia (even amidst our abuses of printing the dollar over the last several decades) is baffling to me.

As I noted to Andy Schectman in a recent podcast, our quality of life in the United States and our nation’s entire economy is an elephant balancing, on one leg, on the toothpick of the U.S. dollar’s reserve status.

Our quality of life relies solely in our unique ability to import the goods and services that we use and need on a daily basis, while exporting US dollars. We’ve been able to print trillions of U.S. dollars into existence over the last couple of years – monetary policy that is anything but sound, regardless of whether or not your currency has global reserve status – because of the luxuries afforded to us by the dollar’s global reserve status.

But this reserve status, and the $30 trillion in debt we have accrued and convinced ourselves we will never have to pay, quickly go from being long-term liabilities that we can theoretically ignore to current liabilities that we must address if the dollar is ever legitimately challenged.

Challenging the dollar’s reserve status would be an obvious and immediate catalyst that would flip everything we think we know about economics in our country on its head. Our monetary policy blind spots, that we have been willfully ignoring for decades, would instantly become leverage for the rest of the world.

The stage appears to remain set for this to happen. Globally, if you are an enemy of the United States, the situation hasn’t looked better to challenge the U.S. dollar, maybe ever, than it does now:

  • We have run up a mountain of debt and grossly expanded our money supply in an extremely short period of time
  • We are the most reliant we have ever been on other countries to import goods and services
  • We have a presidential administration that (1) doesn’t understand basic economics and (2) is limiting our nation’s ability to produce commodities, which act as a foundation for a country’s inherent wealth
  • We are about to enter into a economic recession
  • Inflation is setting records and is already bankrupting the middle and lower class of our nation, before even considering a potential challenge to the dollar

And while a week or two ago I was only worried about China and Russia, now that the world has been forced to pick economic sides, other nations are throwing their respective hats in the ring, too.

Saudi Arabia, which is a nation of major consequence economically due to its significant oil and gas reserves, has reportedly embraced the idea of accepting Yuan instead of dollars for Chinese oil sales.

Not unlike Russia and China’s plans to de-dollarize, that date back nearly a decade, the Saudis have been considering this idea for six years already. And not unlike Russia and China’s new economic tie-up, the catalyst for speeding up the process has been U.S. foreign policy:

Saudi Arabia is in active talks with Beijing to price some of its oil sales to China in yuan, people familiar with the matter said, a move that would dent the U.S. dollar’s dominance of the global petroleum market and mark another shift by the world’s top crude exporter toward Asia.

The talks with China over yuan-priced oil contracts have been off and on for six years but have accelerated this year as the Saudis have grown increasingly unhappy with decades-old U.S. security commitments to defend the kingdom, the people said.

The consideration by Saudi Arabia is consequential.

It shows that other nations, when forced to choose sides between the U.S. and its foes, don’t feel obligated to commit to the U.S. dollar, further undermining the world’s perception about the dollar’s strength.

Not unlike Russia, Saudi Arabia is a country that, regardless of how much its currency may “devalue” versus a fiat basket of currencies, is still backed by finite resources.

This gives the country and its currency intrinsic strength. Russia seems to understand this. In fact, just this morning, Russian Foreign Minister Sergei Lavrov, likely alluding to this fact, said that economic sanctions against Russia make the country “stronger”.

Saudi Arabia is now another serious name on the list of contenders who have the currency bite to back up the economic rhetoric bark of challenging the dollar.

As The Wall Street Journal notes, the Saudis have “traded oil exclusively in dollars since 1974, in a deal with the Nixon administration that included security guarantees for the kingdom.”

The U.S. dollar’s ties to oil have been crucial in helping prop up the currency’s demand globally. These ties have also helped drum up the psychological buy-in necessary for the world to collectively accept that “the next guy” is going to want their U.S. dollars.

But given the alliance between Russia and China – and the newfound alliance between Saudi Arabia and China – it looks as though that confidence game might be coming to an end right before our very eyes.

In other words, the dollar could be fading from the global picture like Marty McFly’s brother from that family photo in Back to the Future.

We may not notice it right away… …but eventually it’ll be clear.

Far be it for me to be a harbinger of too many uncomfortable predictions at once, but, as I wrote last year, I also strongly believe that China will eventually back its forthcoming digital currency with gold to further strengthen its economic and monetary posture globally.

The contrast between a forthcoming divided global economy would be stark: nations like China and Russia seem genuinely interested in the idea of sound money backed by commodities, while the United States seems preoccupied with jargon filled academic circle jerks trying to convince ourselves that debt is money that “we owe to ourselves”, to quote Paul Krugman, and that money literally grows on trees.

If given the choice between the two ideologies, where do you think the world is going to wind up?

I’m not sure we’re ready to embrace the answer here in the United States, but we better get ready to.

National gun control groups band together to show they aren’t serious

Nearly four dozen gun control groups sent a letter giving President Joe Biden an ultimatum: Get on the move with more gun control or else.

“As we made clear in our 2020 letter, gun violence is not acceptable,” the letter states. “The administration can, and must, do more in 2022 … We implore your administration to use the authority of the office.”

Buried in the groups’ anti-Second Amendment screed was a broadside against the organization that regulates the firearm industry, the Bureau of Alcohol, Tobacco, Firearms, and Explosives. They demanded the ATF sever ties with the firearm industry and, in doing so, proved how unserious they are about addressing the criminal misuse of firearms and keeping firearms away from people who shouldn’t have them.

Buried in the letter is a shocking reveal: The groups demand the White House “stop funding, partnering, or co-branding programs with the National Sports Shooting Foundation via the Department of Justice and other Federal Agencies” and “no longer should the ATF hold private briefing and training sessions at NSSF’s annual SHOT SHOW.”

The National Shooting Sports Foundation, the firearm industry trade association, has long-standing partnerships with the Department of Justice and the ATF. These have led directly to safer communities through programs such as Don’t Lie for the Other Guy and Operation Secure Store, both part of the firearm industry’s Real Solutions. Safer Communities initiative, and Project ChildSafe, a component of the DOJ’s Project Safe Neighborhoods.

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Well, WallyWerld has been doing this for a couple of years, so…News?

How companies are hiding inflation without charging you more.

Do consumers notice when their everyday products get smaller? Often they don’t and companies are taking advantage by reducing the amount of product they sell while keeping prices the same. Shrinking product sizes to pad profits is not a new tactic but it grows in popularity during periods of shortages and inflation. Some consumers are noticing and documenting their shrinking groceries on the shrinkflation subreddit.

Even with today’s release of US inflation figures from the Bureau of Labor Statistics showing prices increased 7.9% in the last 12 months, consumers may not realize they’re paying more for some of their regular purchases because companies are reducing sizes while keeping prices the same.

What is the meaning of shrinkflation

Downsizing a product while keeping its price the same is sometimes called “shrinkflation”—a combination of the words shrink and inflation. Companies face higher prices for their supplies and may try to pass that onto the consumer. Downsizing a product reduces costs for manufacturers.

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Federal Appeals Court Revives Smith & Wesson Suit Against New Jersey

One of the nation’s leading gun companies will be able to argue its case against New Jersey after a panel of federal judges reinstated their suit on Thursday.

The Third Circuit Court of Appeals ruled Smith & Wesson’s claims New Jersey violated its First and Second Amendment rights could be heard in federal court. That reverses last year’s ruling from District Court Judge Julien X. Nealsm, a Biden appointee, which threw the case out. Federal courts will now decide whether the gunmakers claim New Jersey’s attempt to subpoena its advertising records are a violation of the Constitution hold water.

The appeals court unanimously found Judge Neals should not have dismissed the case because the case did not meet the requirements for federal courts to defer to New Jersey state courts on the Constitutional questions. It said the case did not fall into the carve-outs created by previous decisions,

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SloJow and his lackeys bald face lie?
Cue the meme.

“It’s Appalling:” In Hilarious Reversal, Biden Admin Now Slams Shale For Not Raising Output

It was just last June when we asked if “ESG will trigger energy hyperinflation“, explaining that the progressives’ ESG agenda, “is unwinding the shale oil revolution. As recent events at Exxon and Shell have shown, the pressure on oil companies to reduce oil and gas exploration and adapt their business models has increased significantly over the past few months” (incidentally the answer to our rhetorical question was “yes”).

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Rep. Jack Bergman Introduces Bill Targeting ‘Boardroom Gun Control’

Rep. Jack Bergman (R-Mich.) introduced legislation Tuesday targeting financial institutions’ use of “boardroom gun control” to stifle the Second Amendment.
In a press release sent to Breitbart News, Bergman’s office explained that the legislation, the Firearm Industry Non-Discrimination (FIND) Act, would “prevent any businesses that discriminate against firearm businesses or associations from contracting or subcontracting with the federal government – ensuring that federal funding is not used to further these harmful policies.”

Bergman noted that federal funding is tax-payer funding, then observed:

Taxpayer dollars should not benefit the bottom line of corporations actively working to erode our Second Amendment rights. While the federal government cannot and should not force mandates on the private marketplace, we must ensure we are responsibly spending tax dollars and holding those we do business with to a high standard. I’m proud to be joined by more than fifty of my fellow Members of Congress in introducing this important legislation.

National Shooting Sports senior vice president Larry Keane commented on the FIND Act, saying:

Corporations, in particular financial institutions, have been dictating public policies from boardrooms that throttle firearm businesses, which are Constitutionally protected. This bill will no longer allow those corporations to benefit from taxpayer dollars while at the same time using those funds to deny Americans their Second Amendment rights. We thank Congressman Bergman for his leadership to ensure fairness in business, reasserting Congress’s role in ensuring the federal government isn’t picking winners and losers in the marketplace based on politics, and protecting the ability of a lawful industry to compete for services without artificial and agenda-driven barriers.

Also on Tuesday, Breitbart News pointed out that Rep. Michael Cloud (R-TX) was introducing legislation to force the ATF to delete information it has stockpiled on firearm sales / transfers.

Cloud’s goal to end the compilation of data for any de facto gun registry.

 

Beretta Holding signs a binding agreement to acquire RUAG Ammotec

Beretta Holding is pleased to announce that it has signed a binding agreement to acquire 100% of RUAG Ammotec – the leading European provider for small caliber ammunition manufacturing and distribution, owner of prestigious brands such as RWS, Norma, Rottweil, Geco.

Pietro Gussalli Beretta, President and CEO of Beretta Holding, stated: “This is a very special moment in the history of our Group. We warmly welcome the more than 2,700 employees of RUAG Ammotec to our Group having worked almost three years on this project”. During this time, we have clearly recognized that RUAG Ammotec is a very good cultural fit with our group and a strong, competent, and experienced management is in place. This will tremendously help to integrate RUAG Ammotec into our group.

As Pietro Gussalli Beretta also pointed out, there is an excellent strategic fit between RUAG Ammotec and the Beretta Holding Companies. “We have the firearms and the optics, RUAG Ammotec has the ammo, there is almost no overlap”. Also, in the field of R & D and distribution we will see strong synergies – especially in the long run that is for our group always most important. Having RUAG Ammotec within Beretta Holding Group will also strengthen our European business and further increase our global footprint. “This new addition to our group will add a substantial number of high-end brands to our existing portfolio of premium brands”, Pietro Gussalli Beretta said. mWith this acquisition Beretta Holding Group will grow to over 6,000 people. Turnover will reach close to 1.5 bn Euro. At the same time, we are adding five manufacturing sites and a total of 16 new companies in 12 different countries. After this acquisition Beretta Holding will have 50+ subsidiaries all over the world. Under our ownership Ruag Ammotec is still fully committed to deliver high quality ammunition to the Bundeswehr and the Swiss Army. As requested by the Swiss Government, Beretta Holding will fully support and maintain the existing locations.

Beretta Holding and RUAG International started to apply for the mandatory governmental approvals. It is expected that Beretta Holding will take full ownership of RUAG Ammotec within the next six months. No terms and conditions of the transaction are disclosed. mBeretta Holding would like to thank our financial advisors, BNP and Mediobanca. Pietro Gussalli Beretta said: “We have been very pleased by the deep understanding, full dedication, and high professionality of Mediobanca, always so close to worldwide operating traditional family-owned businesses”.

Now, if the moron doesn’t go back and also revoke all his anti-energy executive orders he signed on his first day in office, this won’t help one bit.

BREAKING: Biden to finally ban Russian oil imports.

Joe Biden has once again led from behind on Western policy regarding Russia. Well, to be fair, this time he’s more leading from the middle — between the private sector and the governments in the EU. Bloomberg reports that Biden will finally sanction Russian oil imports to the US, although most of Europe will take a pass on such action:Biden should have made that move at the beginning of the invasion. Russia funds its war efforts by selling its oil and natural gas to the world. Buying Russian imports of energy products directly pays for Vladimir Putin’s war against the Ukrainians.And let’s face it — Biden got pushed into this by both parties in Congress:

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I hope the bullets have been loaded into gunpowder filled and primed cartridge cases…..’journalists’.

Arizona ammo company to send 1 million bullets to Ukraine

An ammunition company in Scottsdale, Arizona, has pledged to send one million bullets to the Ukraine Armed Forces as Russian President Vladimir Putin continues his deadly invasion into the country.

AMMO, Inc., which produces high-performance ammunition and components, will send 1 million bullets free of charge to Ukraine after Volodymyr Zelenskyy, the nation’s president, issued a recent plea for additional aid.

“Ammo Inc., and we as Americans stand firmly in support of Ukraine’s sovereignty and independence, as we stand for freedom and democracy everywhere,” AMMO Inc. CEO Fred Wagenhals said in a statement. “While we fervently hope for a quick and peaceful resolution to the crisis and that diplomacy will win the day, we condemn the Russian aggression and its threat to Ukraine’s territorial integrity and freedom.”