Wall Street opens down before talks on "cliff" deal


NEW YORK (Reuters) - Stocks fell at the open on Friday as President Barack Obama and top lawmakers planned to make a last-ditch attempt at a budget deal to prevent the United States from going over the "fiscal cliff."


The Dow Jones industrial average <.dji> dropped 76.30 points, or 0.58 percent, to 13,020.01. The Standard & Poor's 500 Index <.spx> dropped 8.93 points, or 0.63 percent, to 1,409.17. The Nasdaq Composite Index <.ixic> dropped 19.94 points, or 0.67 percent, to 2,965.97.


(Reporting By Edward Krudy; Editing by Kenneth Barry)



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Wade suspended game for action against Sessions


NEW YORK (AP) — Miami Heat guard Dwyane Wade was suspended one game without pay by the NBA on Thursday for flailing his leg and making contact with the groin of Charlotte Bobcats' Ramon Sessions.


The incident happened with 8:12 left in the fourth quarter of the Heat's 105-92 victory over the Bobcats on Wednesday night. Sessions was called for a foul on the play. Wade will serve the suspension Friday night when the Heat visit the Detroit Pistons, and return Saturday night in Milwaukee.


"I'm far from being a dirty player, (plus) my intent was never 2 kick Ramon Sessions. I just reacted to the contact that I got from him," Wade tweeted Thursday night. "More than anything, I think of my boys watchin me be4 retaliating 2ward any player."


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Temple – Detroit-Mercy Basketball Game Postponed Due to Weather






 Temple – Detroit Mercy Basketball Game Postponed Due to Weather

(File photo by Mitchell Leff, provided)





.






By Harry Donahue



PHILADELPHIA (CBS) — Temple basketball fans may be disappointed for a while: tonight’s basketball game against Detroit-Mercy, at the Liacouras Center, has been postponed.


Temple officials say the Detroit team was unable to get to Philadelphia in time for the game, due to yesterday’s rain, snow, and high winds which caused the cancellation of hundreds of flights in and out of Philadelphia (see related news story).


No makeup date for the game was immediately announced, but Temple indicated it could be as soon as tomorrow, so ticketholders should watch the Temple Basketball web site for updates.


More CBS Philly Sports




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2013: A year for big issues in the courts












By Jeffrey Toobin, CNN Senior Legal Analyst


December 27, 2012 -- Updated 1445 GMT (2245 HKT)







Chief Justice John Roberts re-administers the oath of office to Barack Obama at the White House on January 21, 2009.




STORY HIGHLIGHTS


  • Jeffrey Toobin: 2013 will see pivotal decisions in several key areas of law

  • He says Supreme Court could decide fate of same-sex marriage

  • Affirmative action for public college admissions is also on Court's agenda

  • Toobin: Newtown massacre put gun control debate back in the forefront




Editor's note: Jeffrey Toobin is a senior legal analyst for CNN and a staff writer at The New Yorker magazine, where he covers legal affairs. He is the author of "The Oath: The Obama White House and the Supreme Court."


(CNN) -- What will we see in 2013?


One thing for sure: The year will begin with Chief Justice John Roberts and President Obama getting two chances to recite the oath correctly.



Jeffrey Toobin

Jeffrey Toobin



After that, here are my guesses.


1. Same-sex marriage and the Supreme Court. There are two cases, and there are a Rubik's Cube-worth of possibilities for their outcomes. On one extreme, the court could say that the federal government (in the Defense of Marriage Act) and the states can ban or allow same-sex marriage as they prefer. On the other end, the Court could rule that gay people have a constitutional right to marry in any state in the union. (Or somewhere in between.)





CNN Opinion contributors weigh in on what to expect in 2013. What do you think the year holds in store? Let us know @CNNOpinion on Twitter and Facebook/CNNOpinion


2. The future of affirmative action. In a case pending before the Supreme Court, the Court could outlaw all affirmative action in admissions at public universities, with major implications for all racial preferences in all school or non-school settings.


3. Gun control returns to the agenda. The Congress (and probably some states) will wrestle with the question of gun control, an issue that had largely fallen off the national agenda before the massacre in Newtown. Expect many invocations (some accurate, some not) of the Second Amendment.




4. The continued decline of the death penalty. Death sentences and executions continue to decline, and this trend will continue. Fear of mistaken executions (largely caused by DNA exonerations) and the huge cost of the death penalty process will both accelerate the shift.


5. Celebrity sex scandal. There will be one. There will be outrage, shock and amusement. (Celebrity to be identified later.)


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The opinions expressed in this commentary are solely those of Jeffrey Toobin.











Part of complete coverage on







December 27, 2012 -- Updated 1445 GMT (2245 HKT)



Jeffrey Toobin says key rulings will likely be made regarding same-sex marriage and affirmative action for public college admissions.







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Frida Ghitis says that after years in which conservative views dominated the nation, there's now majority support for many progressive stances.







December 28, 2012 -- Updated 0316 GMT (1116 HKT)



John MacIntosh says gun manufacturer Freedom Group should be acquired by public-spirited billionaires and turned into a company with ethical goals.







December 27, 2012 -- Updated 0237 GMT (1037 HKT)



Bassam Gergi and Ali Breland says we should mourn for Newtown's victims, but also take steps to stop the slaughter of young people in inner cities








Get the latest opinion and analysis from CNN's columnists and contributors.







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December 25, 2012 -- Updated 1252 GMT (2052 HKT)



David Frum says the National Rifle Association's "Death Wish" style vision of America as a land of armed civilians fending off criminals is a fantasy.







December 27, 2012 -- Updated 0207 GMT (1007 HKT)



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December 28, 2012 -- Updated 1044 GMT (1844 HKT)



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MADD started as a small grass-roots movement that grew and radically changed society's views on drunk driving, says Candace Lightner.







December 22, 2012 -- Updated 1706 GMT (0106 HKT)



David Gergen says the hope for cooperation is gone in the capital as people spar over fiscal cliff, gun control, and nominations







December 19, 2012 -- Updated 2054 GMT (0454 HKT)



William Bennett says having armed and trained people could help protect schools and other vulnerable places from gun violence


















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Putin signs ban on U.S. adoptions of Russian children










MOSCOW (Reuters) - President Vladimir Putin signed a law on Friday that bans Americans from adopting Russian children and imposes other sanctions in retaliation for a new U.S. human rights law that he says is poisoning relations.

The law, which has ignited outrage among Russian liberals and child rights' advocates, takes effect on January 1. Washington has called the law misguided and said it ties the fate of children to "unrelated political considerations."

It is likely to deepen a chill in U.S.-Russian relations and deal a blow to Putin's image abroad.

Fifty-two children whose adoptions by American parents were underway will remain in Russia, Interfax news agency cited Russia's child rights commissioner, Pavel Astakhov, as saying.

The law, whose text was issued by the Kremlin, will also outlaw some non-governmental organizations that receive U.S. funding and impose a visa ban and asset freeze on Americans accused of violating the rights of Russians abroad.

Pro-Kremlin lawmakers initially drafted the bill to mirror the U.S. Magnitsky Act, which bars entry to Russians accused of involvement in the death in custody of anti-corruption lawyer Sergei Magnitsky and other alleged rights abuses.

The restrictions on adoptions and non-profit groups were added to the legislation later, going beyond a tit-for-tat move and escalating a dispute with Washington at a time when ties are also strained by issues such as the Syrian crisis.

Putin's spokesman, Dmitry Peskov, said the Magnitsky Act had "seriously undermined" the "reset" -- the moniker for the effort U.S. President Barack Obama launched early in his first term to improve relations between the former Cold War foes.

Putin has backed the hawkish response with a mix of public appeals to patriotism, saying Russia should care for its own children, and belligerent denunciations of what he says is the U.S. desire to impose its will on the world.

Seeking to dampen criticism of the move, Putin also signed a decree ordering an improvement in care for orphans.

Critics of the Russian legislation say Putin has held the welfare of children trapped in an crowded and troubled orphanage system hostage to political maneuvering.

"He signed it after all! He signed one of the most shameful laws in Russia history," a blogger named Yuri Pronko wrote on the popular Russian site LiveJournal.

BLOW TO RUSSIA'S IMAGE

The acquittal on Friday of the only person being tried over Magnitsky's death will fuel accusations by Kremlin critics that the Russian authorities have no intention of seeking justice in a case that has blackened Russia's image.

A Russian court on acquitted Dmitry Kratov, a former deputy head a jail where Magnitsky was held before his death in 2009 after nearly a year in pre-trial detention, after prosecutors themselves dropped charges against him.

Lawyers for Magnitsky's family said they will appeal and called for further investigation.

Magnitsky's colleagues say he is the victim of retribution from the same police investigators he had accused of stealing $230 million from the state through fraudulent tax refunds -- the very same crimes with which he was charged.

The case against Magnitsky was closed after his death but then was reopened again in August 2011.

In an unprecedented move, Russia is trying Magnitsky posthumously for fraud, despite protests from his family and the lawyers that it is unconstitutional to try a dead man. A preliminary hearing is scheduled next month.

Magnitsky's death triggered an international outcry and Kremlin critics said it underscored the dangers faced by Russians who challenge the authorities. The Kremlin's own human rights council said Magnitsky was probably beaten to death.

The adoption ban may further tarnish Putin's international standing at a time when the former KGB officer is under scrutiny over what critics say is a crackdown on dissent since he returned to the Kremlin for a six-year third term in May.

"The law will lead to a sharp drop in the reputation of the Kremlin and of Putin personally abroad, and signal a new phase in relations between the United States and Russia," said Lilia Shevtsova, an expert on Putin with the Carnegie Moscow Centre.

"It is only the first harbinger of a chill."

(Additional reporting by Alexei Anishchuk and Maria Tsvetkova; Editing By Steve Gutterman, Andrew Osborn and Roger Atwood)

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Syria opposition leader rejects Moscow invitation


ALEPPO PROVINCE, Syria/BEIRUT (Reuters) - Syria's opposition leader has rejected an invitation from Russia for peace talks, dealing another blow to international hopes that diplomacy can be resurrected to end a 21-month civil war.


Russia, President Bashar al-Assad's main international protector, said on Friday it had sent an invitation for a visit to Moaz Alkhatib, whose six-week-old National Coalition opposition group has been recognized by most Western and Arab states as the legitimate voice of the Syrian people.


But in an interview on Al Jazeera television, Alkhatib said he had already ruled out such a trip and wanted an apology from Moscow for its support for Assad.


"We have clearly said we will not go to Moscow. We could meet in an Arab country if there was a clear agenda," he said.


"Now we also want an apology from (Russian Foreign Minister Sergei) Lavrov because all this time he said that the people will decide their destiny, without foreign intervention. Russia is intervening and meanwhile all these massacres of the Syrian people have happened, treated as if they were a picnic."


"If we don't represent the Syrian people, why do they invite us?" Alkhatib said. "And if we do represent the Syrian people why doesn't Russia respond and issue a clear condemnation of the barbarity of the regime and make a clear call for Assad to step down? This is the basic condition for any negotiations."


With the rebels advancing steadily over the second half of 2012, diplomats have been searching for months for signs that Moscow's willingness to protect Assad is faltering.


So far Russia has stuck to its position that rebels must negotiate with Assad's government, which has ruled since his father seized power in a coup 42 years ago.


"I think a realistic and detailed assessment of the situation inside Syria will prompt reasonable opposition members to seek ways to start a political dialogue," Lavrov said on Friday.


That was immediately dismissed by the opposition: "The coalition is ready for political talks with anyone ... but it will not negotiate with the Assad regime," spokesman Walid al-Bunni told Reuters. "Everything can happen after the Assad regime and all its foundations have gone. After that we can sit down with all Syrians to set out the future."


BRAHIMI TO MOSCOW


Russia says it is behind the efforts of U.N. mediator Lakhdar Brahimi, fresh from a five-day trip to Damascus where he met Assad. Brahimi, due in Moscow for talks on Saturday, is touting a months-old peace plan for a transitional government.


That U.N. plan was long seen as a dead letter, foundering from the outset over the question of whether the transitional body would include Assad or his allies. Brahimi's predecessor, Kofi Annan, quit in frustration shortly after negotiating it.


But with rebels having seized control of large sections of the country in recent months, Russia and the United States have been working with Brahimi to resurrect the plan as the only internationally recognized diplomatic negotiating track.


Russia's Middle East envoy, Deputy Foreign Minister Mikhail Bogdanov, who announced the invitation to Alkhatib, said further talks were scheduled between the "three B's" - himself, Brahimi and U.S. Undersecretary of State William Burns.


Speaking in Damascus on Thursday, Brahimi called for a transitional government with "all the powers of the state", a phrase interpreted by the opposition as potentially signaling tolerance of Assad remaining in some ceremonial role.


But such a plan is anathema to the surging rebels, who now believe they can drive Assad out with a military victory, despite long being outgunned by his forces.


"We do not agree at all with Brahimi's initiative. We do not agree with anything Brahimi says," Colonel Abdel-Jabbar Oqaidi, who heads the rebels' military council in Aleppo province, told reporters at his headquarters there.


Oqaidi said the rebels want Assad and his allies tried in Syria for crimes. Assad himself says he will stay on and fight to the death if necessary.


In the rebel-held town of Kafranbel, demonstrators held up cartoons showing Brahimi speaking to a news conference with toilet bowls in front of him, in place of microphones. Banners denounced the U.N. envoy with obscenities in English.


DIPLOMATS IMPOTENT


Diplomacy has largely been irrelevant to the conflict so far, with Western states ruling out military intervention like the NATO bombing that helped topple Libya's Muammar Gaddafi last year, and Russia and China blocking U.N. action against Assad.


Meanwhile, the fighting has grown fiercer and more sectarian, with rebels mainly from the Sunni Muslim majority battling Assad's government and allied militia dominated by his Alawite sect, an offshoot of Shi'ite Islam.


Still, Western diplomats have repeatedly touted signs of a change in policy from Russia, which they hope could prove decisive, much as Moscow's withdrawal of support for Serbian leader Slobodan Milosevic heralded his downfall a decade ago.


Bogdanov said earlier this month that Assad's forces were losing ground and rebels might win the war, but Russia has since rowed back, with Lavrov last week reiterating Moscow's position that neither side could win through force.


Still, some Moscow-based analysts see the Kremlin coming to accept it must adapt to the possibility of rebel victory.


"As the situation changes on the battlefield, more incentives emerge for seeking a way to stop the military action and move to a phase of political regulation," said Dmitry Trenin, director of the Carnegie Moscow Center.


Meanwhile, on the ground the bloodshed that has killed some 44,000 people continues unabated. According to the pro-opposition Syrian Observatory for Human Rights, a monitoring group based in Britain, 150 people were killed on Thursday, a typical toll as fighting has escalated in recent months.


Government war planes bombarded the town of Assal al-Ward in the Qalamoun district of Damascus province for the first time, killing one person and wounding dozens, the observatory said.


In Aleppo, Syria's northern commercial hub, clashes took place between rebel fighters and army forces around an air force intelligence building in the Zahra quarter, a neighborhood that has been surrounded by rebels for weeks.


(Additional reporting by Omar Fahmy in Cairo, Dominic Evans in Beirut and Steve Gutterman and Alissa de Carbonnel in Moscow; Writing by Peter Graff; Editing by Giles Elgood)



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Wall Street flat as "fiscal cliff" talks eyed

To a black ESPN sports analyst, this is the critical question: Is Robert Griffin III, aka RG III, the black rookie sensation Washington Redskins quarterback, "a brother, or is he a cornball brother?" What has RG III done or said to raise a suspicion about his bona fides as a black person? More importantly, what does this have to do with appreciating — or choosing not to appreciate — Griffin as an athlete?
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Peyton Manning, Peterson make Pro Bowl


NEW YORK (AP) — Peyton Manning and Adrian Peterson want to cap their sensational comebacks with Super Bowl appearances. For now, they can be proud of Pro Bowl spots.


So can Redskins quarterback Robert Griffin III, one of two rookies chosen Wednesday for the Jan. 27 NFL all-star game.


Manning missed all of the 2011 season with neck and back problems that required several operations. He then signed with Denver as a free agent and has led the Broncos on a 10-game winning streak to take the AFC West.


"I know there's great players out there in the NFL, but there's some great players on this team this year that deserve to go," said Manning, whose 12th Pro Bowl is a record for quarterbacks. He ranks fourth in league passing this year, has thrown 34 touchdowns and 11 interceptions.


Four other Broncos made the AFC roster: DE Elvis Dumervil, linebacker Von Miller, CB Champ Bailey and tackle Ryan Clady. Bailey's 12th appearance is a record for defensive backs.


"My goal has always been to go out and help the team win and play at a high level," Manning added. "Anything that comes along with that, like being honored as a Pro Bowl selection, is very humbling."


Minnesota's Peterson tore up his left knee on Christmas Eve last year, underwent major surgery, then was back for the season opener. He's gone from uncertain to unstoppable, running away with the rushing title with a career-high 1,898 yards and lifting the Vikings toward an NFC wild card.


"Coming into the season after going through the rehab process, I just told myself that I wanted to lead my team to a championship and make sure that I contribute and do my part," Peterson said. "I've been doing it."


Griffin is one of three rookie QBs who had superb debut seasons, along with Andrew Luck of Indianapolis and Russell Wilson of Seattle. Luck and Wilson weren't voted to the Pro Bowl by players, coaches and fans, although their teams are in the playoffs; Griffin can get to the postseason if Washington beats Dallas on Sunday.


"You can't play down those kind of things," Griffin said. "I've always said my whole football career that you don't play for awards. They just come. You don't say you're going to win the Heisman. You don't say you're going to win MVP. You go out and you prove it on the field, and if everyone feels that way then they'll give you that award."


San Francisco had the most players selected, nine, including six from its second-ranked defense. Houston was next with eight, six on offense.


Kansas City, despite its 2-13 record that is tied with Jacksonville for worst in the league, had five Pro Bowlers, including RB Jamaal Charles, who like Peterson is coming back from a torn ACL.


One other rookie, Minnesota kicker Blair Walsh, was chosen. Walsh has nine field goals of at least 50 yards, an NFL mark.


The AFC kicker is at the other end of the spectrum: Cleveland's Phil Dawson earned his first selection in his 14th NFL season.


"I deliberately tried not to know," Dawson said. "We wanted to watch the show with my kids. I had a really good idea what was going on, but it was a pretty priceless moment when we saw the name flash up on the screen. My kids went nuts 'cause my wife went nuts. That makes these 15 years of waiting worth it."


Another record setter will be heading to Honolulu: Detroit WR Calvin Johnson.


Johnson broke Jerry Rice's single-season yards receiving record and has 1,892 yards with a game left.


Falcons tight end Tony Gonzalez set the record for Pro Bowls at his position by being chosen for the 13th time.


The league's top two sackmasters, DEs Aldon Smith of San Francisco and J.J. Watt of Houston, were first-time selections. Watt has 20 1-2 sacks, one ahead of Smith; the NFL record is 22 1-2.


Other newcomers, along with Griffin, Walsh and Dawson, were AFC players tackle Duane Brown and guard Wade Smith of Houston; safety LaRon Landry of the Jets; kick returner Jacoby Jones of Baltimore; and punter Dustin Colquitt of Kansas City.


For the NFC, first-timers were Giants WR Victor Cruz; Atlanta WR Julio Jones; Seattle tackle Russell Okung and center Max Unger; San Francisco guard Mike Iupati, linebacker NaVorro Bowman and safety Donte Whitner; Chicago cornerback Tim Jennings and defensive tackle Henry Melton; Washington tackle Trent Williams and special teamer Lorenzo Alexander; Minnesota fullback Jerome Felton; Tampa Bay DT Gerald McCoy; and New Orleans punter Thomas Morstead.


Eight teams had no Pro Bowl players: Carolina, Philadelphia and St. Louis in the NFC, Tennessee, Buffalo, Jacksonville, San Diego and Oakland in the AFC.


___


Online: http://pro32.ap.org/poll and http://twitter.com/AP_NFL


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US Airways Waives Change Fee For Customers Affected By Winter Weather






 US Airways Waives Change Fee For Customers Affected By Winter Weather

file photo (Chip Somdelvilla/Getty Images)





CHARLOTTE, N.C. (AP) — US Airways is waiving the change fee for customers who must alter their flights due to severe Christmas weather.






The airline is canceling the $ 150 charge for changing flights to and from 25 cities where there are flight delays and cancellations. The offer is available to travelers scheduled to fly Wednesday and Thursday. They must keep the same flight origin and destination. Their rescheduled flights must be by New Year’s Day.



The affected airports are in Canada, Indiana, Maine, Michigan, New Hampshire, New York, Ohio, Pennsylvania, and Vermont.


Travelers can change their trip online at http://www.usairways.com/manageyourtrip or call 800-428-4322.


Severe thunderstorms are forecast for the Carolinas while a line of blizzard and winter storm warnings stretched from Arkansas up the Ohio River to New York and on to Maine.


(© Copyright 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)




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A gunmaker ripe for an ethical takeover




Several .223 caliber rounds near a Bushmaster XM-15; the manufacturer's owner is putting its gun companies up for sale.




STORY HIGHLIGHTS


  • The owner of America's largest gunmaker is putting firm up for sale

  • John MacIntosh says billionaires should lead effort to acquire the gun manufacturer

  • He says they should change corporate practices to discourage violence

  • MacIntosh: One leading company could push gun industry in a more ethical direction




Editor's note: John MacIntosh was a partner at Warburg Pincus, a leading global private equity firm, where he worked from 1994 to 2006 in New York, Tokyo and London. He now runs a nonprofit in New York.


(CNN) -- In the 1970s and '80s, when corporate America was plagued with inefficiency, a new class of financially motivated takeover investor emerged to prey on the fattest in the corporate herd and scare the rest into line.


Today, as pockets of corporate America are plagued with immorality, we need a new class of socially motivated takeover investor to prey on the sociopaths in the corporate herd, turn them around and perhaps scare (or shame) others into line.



John MacIntosh

John MacIntosh



The upcoming sale by Cerberus Capital of the Freedom Group, the largest gun manufacturer in the United States, is a perfect opportunity to usher in this new era of muscular, socially responsible capitalism:


First, Michael Bloomberg, George Soros, David Geffen and the like should establish a nonprofit SPAC (Special-Purpose-Acquisition-Company) called BidForFreedom.org (BFF) with a mission to reduce needless deaths through gun violence in the United States and encourage the passage of sensible gun control regulations.



They should appoint George Clooney, Angelina Jolie and Matt Damon to the fundraising committee and recruit a loud-mouthed, poison-penned, but good-hearted activist hedge fund titan as chief investment officer (Bill Ackman? Dan Loeb?).


Opinion: Forgotten victims of gun violence


To be credible, BFF will probably need to start with at least $250 million in cash and commitments (no problem given the billionaire status of the sponsors) with additional firepower raised as needed from well-heeled individuals, foundations and through a broad-based Internet solicitation to an outraged-by-Newtown public.


Second, BFF should lobby all public pension funds that are part owners of the Freedom Group (by virtue of their investment in Cerberus) to roll their investment into BFF to reduce the need for outside funding, naming and shaming any unwilling public investors.


Newtown shooter's guns








Third, BFF should pay "whatever it takes" to acquire control of the Freedom Group in the upcoming auction by Cerberus (which has a fiduciary obligation to sell to the highest bidder) and then immediately implement a "moral turnaround" plan under which the Freedom Group:


(i) Appoints a high-profile CEO with impeccable credentials as a hunter and/or marksman who is nevertheless in favor of gun-control.


Opinion: Guns endanger more than they protect


(ii) Elects a new board of directors including representatives from the families of victims killed in Newtown (and/or other massacres perpetrated with Freedom Group weapons), military veterans and trauma surgeons with real experience of human-on-human gunfire, and law enforcement and mental health professionals.


(iii) Operates the business as if sensible gun laws were in place (this may turn out to be a wise investment in future-proofing the company): discontinuing sales of the most egregious assault weapons and modifying others as necessary so they cannot take huge-volume clips; offering to buy back all Freedom Group assault weapons in circulation; micro-stamping weapons for easy tracking; and providing price discounts for buyers willing to go through a background check and register in a database available to law enforcement.


(iv) Voluntarily waives its rights to support the NRA and other lobbying groups.


(v) Creates a fund to compensate those who, despite its best efforts, are killed or wounded by its weapons.


(vi) Agrees that if the effort to provide moral leadership in the weapons industry doesn't succeed within a year, BFF should consider corporate euthanasia, even though it entails a risk of allowing more retrograde manufacturers to fill the void in the market left by the then-deceased company.


Opinion: The case for gun rights is stronger than you think


In the face of horrors like Newtown, BFF would recognize that it's time to take a stand by acknowledging the impossibility of reaching closure after such a monstrous act while an unreconstructed Freedom Group continues to sell a huge volume of guns and ammunition rounds each year even if it is operating under new owners.


Like any Trojan Horse strategy, this is a long shot, but it must be tried. History suggests that only after the first company "turns" will an industry gradually return to the realm of the human (think of big tobacco). And without the tacit agreement, if not the outright support, of at least one important insider, policymakers seem utterly unable to pass tough regulations in the face of the predictable, but withering, assault by industry lackeys shrieking that any such regulation would be "impossible, impractical or too expensive."


In the face of a recalcitrant industry, we have to acknowledge that it is only the market for corporate control -- the real possibility that an outsider will take over one of the companies -- that puts limits on the behavior of board members and executives who, while perhaps decent enough in their family lives, display a limitless tolerance for the "banality of evil" at the office.


Opinion: Not man enough? Buy a gun


We must accept that the conventional, kid-gloves approach to socially responsible investing -- divesting shares in "bad" companies that nevertheless continue to exist -- is too weak an instrument to force change and its well-meaning practitioners too soft to enter the fray when emotionally and politically charged battles need to be fought.


And regardless of the viability of socially motivated takeovers in general, the Freedom Group looks like a great target. Cerberus is a motivated seller, the political macros look favorable, and it's a bite-sized company compared with many of the larger sociopaths in the corporate herd.


I'm even cautiously optimistic that the current impasse over gun regulation is a bad-equilibrium that few consumers actually want, and that a reconstructed Freedom Group, fighting for sensible change as a fifth column from within the industry, might well find that many people -- even a significant portion of the NRA's members -- would buy from a truly responsible (and high quality) gun maker if given the chance.


All in all, it's a pretty exciting deal, so if Mike and George are up for it, count me in.



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The opinions expressed in this commentary are solely those of John MacIntosh.






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