Less than an hour after The Wall Street Journal reported GE Capital was going to stop providing retail lending services to gun shops, a few people decided to threaten GE with boycotts.
The Journal quoted gun store owners in other states who received letters from GE stating the company would no longer provide lending services for gun purchases. People could, at some stores, take out a small loan issued through GE Capital to buy guns or ammunition. The article confirmed the move with a GE spokesman who said it was a tiny part of the business, also said the decision was made due to changes in the law and tragic events.
The company intends to continue to provide retail lending services to major sporting goods stores that sell guns, including Dick’s.
Peter Lanza, the father of the Sandy Hook Elementary School shooter who killed 20 children and six adult in December, is a GE Capital executive.
GE also held its annual meeting Wednesday and the company’s shares gained 2.14 percent, or 46 cents, to close at $21.96 Wednesday.
Just moments after the article popped up on the WSJ website, GE’s corporate Facebook page attracted several comments.
While the number of people who found GE’s stance objectionable piled up on its Facebook page, there appeared a smattering of others who supported the move.