Sata 4000 RP

General Electric's financial arm will no longer lend money to gun shops, The Wall Street Journal reported Wednesday afternoon.

GE Capital's decision is in response to the Dec. 14 school shooting in Newtown, Conn., the WSJ reported. The shooter killed 27, including 20 children and his mother, before killing himself.

The financial lending unit of GE, which is headquartered in Fairfield, Conn., has started sending letters to customers, notifying them that it had made "the difficult decision" to stop providing financial services to gun sellers, the WSJ story said.

GE Capital isn't the first company to distance itself from the firearms industry in the aftermath of the Newtown shooting as a heated debate over gun control rages in Congress.

Private equity firm Cerberus Capital Management has said it wants to sell Freedom Group, which manufactures Remingtons, Bushmasters, Marlins, H&R and other well-known firearm brands.

FDXLAG

No problem I have stopped doing business with GE capital.

Red Forman

Same here. Hopefully they will take a hit to their bottom line because of a loss of business too.

UnderOveur

Winged Wheeler

A fine opportunity to show how little we need the supervision of regulators. GE capital makes a decision that you are free to support with your money. You are also free to take your business elsewhere.

Order emerges without the direction of central planners. Liberty works.

WW

RhinoPherret

I would bet that very few gun shops are financed by GE Capital. Thus, they can afford this publicity stunt. I bet GE Cap would not drop gun shops if they were a major income source.

I wonder if GE Capital would drop its other (high revenue producing) controversial businesses customers?

Or……..could GE Capital just make this publicity seeking announcement stunt and keep financing gun shops behind the scenes?