DealBook Briefing: How Walmart Could Take a Stand on Guns

“Ethical Markets agrees with Andrew Ross Sorkin. We will wait to hear Walmart CEO Doug McMillon’s response.  time for the corporate sector to stand up!

Hazel Henderson, Editor”

August 6, 2019

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Doug McMillon, Walmart’s C.E.O. Gareth Patterson/Associated Press

An open letter to Walmart’s C.E.O.
In the wake of the weekend’s mass shootings — one of which took place at a Walmart in El Paso — Andrew urges the retail giant to take a stand on the rising tide of gun violence in America.
• In an open letter to Walmart’s C.E.O., Doug McMillon, Andrew writes that the company must use its economic clout “to help fix a system that is clearly broken, to solve a crisis whose costs are measured in lives, not just in profits and losses.”
• “You could threaten gun makers that you will stop selling any of their weapons unless they begin incorporating fingerprint technology to unlock guns.”
• “You have leverage over the financial institutions that offer banking and financing services to gun makers and gun retailers as well as those that lend money to gun buyers.”
• “The 22 people who died in your store this past weekend deserve more than words of consolation to their families. They deserve a leader who is going to work to make sure it never happens again.”
Walmart plays a central role in many crimes, given its huge presence throughout the U.S. For example, in some Kentucky cities, Walmart was tied to as many as 36 percent of all crime reports. Critics say the retailer must do more to improve security.
Other companies continue to grapple with the aftermath of the shootings:
• The website 8chan, where the man accused of the El Paso shooting posted a racist manifesto, has struggled to stay online after being dropped by service providers.
• The C.E.O. of Cloudflare, which stopped providing cybersecurity protection to 8chan, defended his decision to effectively kick the message board off the internet.
• Shares in video game makers like Activision Blizzard and Electronic Arts fell yesterday after President Trump blamed violent games for contributing to the problem of shootings. (Though “data on bananas causing suicide is about as conclusive,” one expert told the NYT.)
Today’s DealBook Briefing was written by Andrew Ross Sorkin in New York, and Michael J. de la Merced and Jamie Condliffe in London.