Shareholder democracy is a powerful instrument

Sturm Ruger shareholders approved a proposal from a coalition of religious women and health care networks that Ruger had for weeks urged investors to reject. Two years ago, members of the advocacy group, which includes the Sisters of the Holy Names of Jesus and Mary of Marylhurst (Oregon), purchased shares in Ruger hoping to influence the companies’ attitudes toward gun safety. Their proposal on Wednesday was backed by a majority of shareholders, including the asset manager BlackRock, Ruger’s largest investor. Now, Ruger must produce a report by February that addresses how it tracks violence associated with its firearms, what kind of research it is conducting related to so-called smart gun technology (such as using thumbprint readers, like those used on smartphones) and its assessment of the risks that gun-related crimes pose to the company’s reputation and finances.

Whoopi Goldberg: Sister Act by Emile Ardolino, 1992, pbe/dpa, 10.03.2018, Tiffany Hsu, 09.03.2018