Make Lethal Cruelty a Criminal Act

If willful acts of lethal cruelty resulted in criminal charges, Alex Jones would be serving life with no possibility of parole. Not ever. Lethal cruelty, as evidenced by Jones’ lethal propaganda aimed directly at those who survived the massacre at Sandy Hook Elementary School.

Allegiance to honesty compels me to confess that if I were to allow my emotional and physical experience of Jones to handpick the jury, my response would be written by some form of violence, and I have had enough enough enough of violence. Jones he has no conscience. He does not care that his behavior is lethal on every front. Period.

It is hard but not impossible for me to live Dr. Martin Luther King Jr.’s guidance., not so much live up to that, as live that.

King said: “Let no man pull you so low as to hate him.”

For me this means, identify a choice that is just, and one that is not dehumanizing. Then, live it. Live the choice made.

One of the gifts life has given me is meeting and learning and knowing victims of violent crime. All forms of violence.  Loved ones of adults and children who’d been murdered.

There’s no bigotry in violence’s bloodstream.   

In late 1984, early 1985, I was attending a community meeting with actress Theresa Saldana, founder of Victims for Victims in California in 1982, at a college in New York City, allowed me one of the most powerfully intimate moment of my life. Theresa survived a knife attack by a stalker. She sustained several stab wounds. To say she barely survived is to engage in the act of understatement, and do so center stage.

If willful acts of cruelty (cruelty being a form of violence) resulted in criminal charges, Alec Jones would be serving life with no possibility of parole. Not ever. 

If I were to allow my visceral emotional and physical experience of Alec Jones to handpick the jury willful cruelty – he has no conscience. He does not care that his behavior is lethal on every front. Period. It is I tell you now hard for me to live Dr. Martin Luther King Jr.’s guidance.  

King said: “Let no man pull you so low as to hate him.”

It is hard for me to, not so much live up to that, as live that. Meaning, identify a choice that is just and not dehumanizing. Then, live it out. Live the choice you’ve made.

One of the gifts life has given me is meeting and learning and knowing victims of violent crime. All forms of violence.  Loved ones of adults and children who’d been murdered. There’s no bigotry in violence’s bloodstream.

In late 1984, early 1985, I was attending a community meeting with actress Theresa Saldana, founder of Victims for Victims in California in 1982, at a college in New York City, allowed me one of the most powerfully intimate moment of my life. Theresa survived a knife attack by a stalker. She sustained several stab wounds. To say she barely survived is to engage in the act of understatement, and do so center stage.

The meeting was not long after the airing of the movie, “Victims for Victims: The Theresa Saldana Story” in which Theresa played herself.  It aired on NBC, Monday, November 12, 1984. spoke and at some point, we went around the room to introduce ourselves. It was up to us if we wanted to share why we were there. 

For me, being in a room with adults of all ages, individuals who each who knew trauma in merciless form was, for me, to be with people whose presence  in this country’s history I treasure. Beyond words. 

When Theresa spoke a moment arrived when she invited those in the room to introduce themselves if they’d like and if they were a crime victim or a loved one of a crime victim, you’re more than welcome to share, but you don’t have too.

Most gave their first name and most were very open about what brought them there.  Survivors of rape, assaults, muggings, stabbing, survivors of adults and children who’ve been murdered. 

When it came to the row I was in, I was sitting just to the right of a woman I’d guess was in her forties. She spoke first. She stood up, gave her first name, and said, “My son was shot and killed in a hold up this year.” Then I stood up and said, “I was held up and shot in the head this year.”

We looked at each other and hugged. No words were needed.  As I remember it, I think everyone in the room would have hugged us both at that moment. They all got it.

Which brings me back to a lethal being named Alec Jones.  Think about something for a moment. The families of the children and adults slaughtered in Sandy Hook are just like the folks I just told you about. Those who lived through the trauma. Not those, like Jones, who live off the trauma.

I wish there was a way to criminally charge Jones and those like him. Their propaganda is cruel; cruel is violence, and a threat to life in so many ways. I choose not to hate him. And, hate the behavior, not the person.  But establish a law that allows someone to be criminally charged for abetting and promoting, you name it, acts of deadly violence and hate. It if his were a medicinal poison, a deadly product he handed out, sold, he’d be arrested and charged in the blink of an eye.

Give him his room and board and no freedom for the rest of his life. Period. Take anything about him that’s of financial value, and allow its fate to be decided by the families of the children and adults that died or survived the merciless explosion of gun violence at Sandy Hook, in real time. Let them decide what happens to it.

That would be an act of justice.

Meet the Hedge Fund Managers Turning a Profit on the Sandy Hook Massacre

This post courtesy of The Sparrow Project

[New York, NY] It has been argued that capitalism, if given the opportunity, would devour its own legs and collapse upon itself.  Putting all hyperbole aside, what would you do if you learned that a US company was actively monitoring national tragedies like the shooting at Sandy Hook Elementary School, only to develop reflexive investment strategies designed directly to capitalize off the pain, suffering and hysteria, in the wake of those events?  Would you be in disbelief of such wanton disregard for life? Would you chalk it up to business as usual, for Wall Street’s most parasitic actors? Or, would you take action to stop it?

Enter, Stage Left — Two of the Worst People in the World…

While some of the nation’s largest hedge funds and money managers have paused in the wake of Sandy Hook to review their portfolios for exposure to gun stocks, and in some cases begin the process of selling off their gun assets, two hedge funds have done just the opposite. Jeffrey Altman, Founder and Portfolio Manager for Owl Creek Asset Management, and Robert Bishop, of Impala Asset Management, each seized an opportunity in the days following the Sandy Hook Shooting, to purchase millions of shares in gun stocks (1,616,300 shares [valued at $13,642,000] and 893,938 shares [valued at $27,787,000], respectively). Notice of Altman’s and Bishop’s purchases only became available when they disclosed their fund’s 4th Quarter 2012 holdings to the SEC, in February [HERE, and HERE]. Altman’s and Bishop’s intentions, as deduced by peers in asset management, are to turn the fears and murmurations of new gun regulations into profits, as a newly fabricated demand for firearms like the Bushmaster .223 Caliber Assault Rifle, the AR-15 and the Ruger Mini-14—each potentially at risk of regulations—outpaces their supply on shelves at retailers.

Jeffrey Altman: Chronically Single, Economically Depraved…

Jeffrey-Altman_Owl-CreekDepicted by his Bridgehampton neighbors as a man who is “chronically single” and meticulously decorates the walls of his 7.9 million-dollar Ambleside Lane home with “series of Warhol-esque prints of semi-nude women,” Jeffrey Altman is not just the ‘Fox of Finance’ flirtatiously depicted in his 2010 New York Magazine profile, he is also a deeply cynical person known for making morally bankrupt decisions for profit.  Altman began his career in 1985 as an assistant to Michael Price at Heine Securities. It was at Heine that Jeffery made a name for himself by profiting off of distressed assets. In 2001, just as he was about to make the transition to managing his own fund (Owl Creek), Jeffrey commented in a Forbes Magazine roundup titled ‘Let us Prey’ wherein he gave advice to fellow “vulture” capitalists…

“Even the smaller-time vultures, with $50 million to $100 million under management, have to focus on a smaller number of opportunities” — Jeffrey Altman

The fact that Altman uses the term “vulture” when referring to his peers should be telling in itself, but it is how he sees “opportunities” that is the most noxious. When most of the nation was drowning in grief in the days that followed the Sandy Hook shooting, Altman saw an “opportunity” to profit off the murder of the 6 Sandy Hook faculty and 20 elementary school children.

On Friday December 14th, 2012, at approximately 9:32am, just two minutes after the opening bell at the New York Stock Exchange, Adam Lanza exited his black Honda Accord outside of Sandy Hook Elementary School. Before entering he shoots out the school’s glass double-door entrance. As Lanza begins shooting children inside, 77 miles away on Wall Street, brokers are buying and selling shares of the Smith and Wesson Holding Company (SWHC) for $9.54 a share. By days end 28 people would die, including Lanza and his mother, and shares of SWHC would see a decrease to $9.13 per-share.

It would not be until after the weekend that SWHC would take their biggest hit.

During the weekend of December 15th, 2012 every media outlet was saturated with coverage of the massacre. By Monday morning many investors will express a crisis of conscience in owning shares of SWHC, the manufacturer of the AR-15 Assault Rifle (Lanza’s Bushmaster Rifle was modeled after the AR-15). By Tuesday, December 18th, 2012, SWHC would fall to a 6-month low of $7.79 per-share. This is where Jeffery Altman seizes his “opportunity.”


Altman’s process is to purchase equity in a distressed company if he feels its listing is undervalued or if he feels he can advocate for the companies listing to reach a higher value. Applying this process, Altman, on-or-around Tuesday December 18th, paid approximately $12,590,977 to acquire 1,616,300 shares of SWHC, the supposition being that it was only a matter of time until the national debate over gun control—reinvigorated by the tragedy at Sandy Hook— would trigger an avalanche of gun sales, specifically at-risk guns like SWHC’s AR-15. In practice, Altman’s morally bankrupt process has already turned a profit. Should Altman decide to sell his stake today, he could receive approximately $14,886,123, which would pay out an approximate profit of $2,295,146. The fact that Altman has not already sold his shares should indicate that he believes that SWHC will continue to appreciate in value, regardless of any investors jumping ship after Sandy Hook.

swhc graph

The Wolf in the ‘Riding Hood’ Stories…

On the evening of December 14th, 2012, while Sandy Hook Elementary School is cordoned off with yellow tape, 30 miles away in New Canaan, Connecticut, an exhibit at the town’s historical society, titled “Seeing Red” celebrates a piece of predatory folklore. The exhibit provides a historical overview of the many versions of the “Little Red Riding Hood” story, with gleeful emphasis on the older, lesser-told versions of the story wherein Little Red and her grandmother suffer a far more gruesome fate, each being ravaged by the wolf. The primary sponsor of the exhibit is Robert Bishop, a New Canaan resident and portfolio manager of Impala Asset Management (pictured holding an anthology of ‘Little Red Riding Hood’ below).

robert bishop

Robert Bishop belongs to the same predatory class of investors as Jeffrey Altman. Like Altman, on-or-around Tuesday, December 18th, 2012 Bishop pounced on an opportunity to purchase 346,252 shares of the Smith & Wesson Holding Company (SWHC) and 547,686 shares in Sturm Ruger & Co (RGR) [valued at $2,922,000 and $24,865,000, respectively]. Sturm Ruger, manufacturer of the Mini-14 semi-automatic rifle used by Anders Breivik in the 2011 youth camp massacre on Norway’s Utøya Island that killed 69 people and injured 110, also hit a 6-month low price of $40.60 per-share on December 18th, 2012 and has seen asteady increase in value thereafter. In the wake of the Norway massacre and the theatre shooting in Aurora Colorado the AR-15 and Ruger Mini-14 have been stigmatized as weapons of choice for deranged mass murderers. The fact that anyone—let alone someone who lives a short distance from Sandy Hook Elementary School—would seek to purchase positions in these manufacturers and hedge their bets on a future inflated value, means that they have to be able to either turn a blind eye to the horrific realities tied to those stocks, or that they are literally Wall Street’s own manifestations of the predatory monsters depicted in fairy tales. Any psychologist would have a field day attempting to analyze why a predatory investor like Bishop has such an affinity for a tale of a wolf brutalizing a young girl.

“Activist” Investing?

The term “activist investing” is used in Bishop’s and Altman’s “vulture” community, largely when referring to instances when a hedge fund like Owl Creek purchases a large portion of a company’s equity in an attempt to manipulate the boardroom workings of that company (install a board member, replace management, etc) but there is also a less talked about, media-related, element to hedge fund advocacy. In order to navigate tricky insider trading laws, hedge funds use a “heard it from a friend” style when scooping stock picks to the financial blogosphere. While Altman seldom responds to media requests, he does not think twice about scooping financial bloggers about a company he wants to send droves of investors to. In the example of SWHC, the scoop was picked up by Brian Nelson’s online financial analysis service, Valuentum, who on March 6, 2013, published a syndicated online report on SWHC’s momentum titled ‘Smith & Wesson Rides the Gun Boom’ the following is an except from Valuentum’s report…

“Gun manufacturer Smith & Wesson (SWHC) announced fantastic third quarter results, as demand outpaced supply. Revenue increased 39% year-over-year to $136 million, handily exceeding expectations. Earnings, adjusted to reflect continuing operations, more than tripled year-over-year to $0.26 per share, exceeding consensus estimates.

We’re not surprised by the results, as other firms like Cabela’s (CAB) and Big 5 (BGFV) reported that gun sales have surged in the wake of the Sandy Hook tragedy and fears of new gun regulations. The trend looks durable at this point, and with the general lack of compromise in Congress, we think it could take awhile for any new national gun legislation to surface.”

Republicans Secretly Cheering for Gun Control?

We should be careful not to conflate Altman’s and Bishop’s intentions with the heated and largely partisan debate surrounding our nation’s abusive relationship with the gun industry. A review of the FEC’s records of 2012 political contributions shows that most of the principals of the 20 hedge funds that hold significant gun investments also contribute large sums of money to Republican candidates, but the fact that they identify as Republican does not, in all cases, spell blind allegiance to the gun industry.

Cerberus Capital Management, owner of the single largest portfolio of gun company assets and whose predominantly Republican board includes former Vice President Dan Quayle, made a statement to the press, four days after the Sandy Hook shooting, that they would begin the process of selling their 94% stake in “The Freedom Group,” a gun manufacturer portfolio valued at ~$700-957 million, which includes nearly the entire private equity of Bushmaster Arms (manufacturer of the .223 caliber assault rifle used by Sandy Hook shooter, Adam Lanza). Similarly, Tiger Global Management, CEO Chase Coleman, named the “hottest money manager on the planet” by Forbes Magazine, and a significant contributor to the GOP, showed no hesitance in quickly (albeit quietly) selling all of his 800,000 shares in Sturm, Ruger following Sandy Hook.

Similarly, both Jeffrey Altman and Robert Bishop donated significant amounts of money to Republican candidates in 2012, but unlike Cerberus Capital and Tiger Global, Altman and Bishop are both buying in when the largest players are bowing out, and a key ingredient in their profit making formula IS gun control (or at least a perceived threat in the marketplace of future gun regulations). Both Altman and Bishop need the looming specter of gun control to provide the momentum needed to watch their positions in SWHC and RGR steadily climb. Even more telling is the indication in Valuentum’s report that due to the dysfunction of congress, any regulations may take some time to manifest, and until then the price will steadily climb, unless someone steps in to do something about it…

Holding the Monsters Accountable…

As you read this Jeffrey Altman and Robert Bishop will have already made millions of dollars in profits from Sandy Hook. They are only able to do this because they are accustomed to having no one hold them accountable for their economic depravity. Utah Phillips, a celebrated singer-songwriter and environmental advocate once said, “the earth is not dying, it’s being killed, and those who are killing it have names and addresses.” Indeed Phillip’s words seem all too appropriate when applied to the case of these two hedge fund managers who have decided to turn a profit off of Sandy Hook. Altman and Bishop are proof positive that monsters are real …and they summer in the Hamptons.

These men should be viewed as no less a threat to our communities than sex offenders, and should be ostracized by their colleagues and neighbors no differently than sex offenders.

Compiled below is a list of contact information for Owl Creek, Impala, Jeffrey Altman and Robert Bishop, as well as ways you can contact their colleagues to politely inform them about Altman’s and Bishop’s efforts to turn Sandy Hook into a profit.

We demand nothing short of a complete sale of their positions in SWHC & RGR with any profits made from their sales donated to the families of Sandy Hook victims.

Gun violence, facts & a prayer

Damned if I understand why some seemingly decent people are about as responsive to facts as a cluster of tree stumps.  On top of that, there is a disturbing instinct in some to protect guns before children. On top of that, there are some who seem to think knives are as much if not more dangerous than  guns (that must be why so many of today’s modern armies are throwing away their firearms and replacing them with steak knives).

I do understand that we are a culture addicted to violence. We are a culture that has come to believe that an accurate measure of one’s strength is one’s capacity to inflict violence. We are also a culture that has taken the Second Amendment and morphed it into meaning something it doesn’t mean. The Second Amendment does not mean the founding fathers, had they known, would think it would be just peachy for citizens to own assault weapons, that it would be okay to buy thousands of rounds of ammunition at a time. They would no doubt be troubled by the fact it is easier in some areas of the country to buy an assault weapon and thousands of rounds of ammunition than it is to get a driver’s license.

As Bill Moyer’s said, and I quoted in a recent commentary for Independence Today, the NRA is “a killer instinct’s best friend.”

The penchant for some to blame the killings at Sandy Hook Elementary School solely on mental illness, or medication (anything but guns),  is disheartening. Yes, without question, the issue is more than simply guns and the desperate need for responsible  gun control measures, but the other elements of the issue must not be used as a reason  to turn our attention away from the need for gun control.

For those who cling to the utterly misguided belief that knives are just as dangerous as guns (assault weapons), consider this: knives are not want these mass murderers of our innocents are choosing, they are choosing assault weapons. (Note to reader: I do not expect this fact to make one iota of difference to those clinging to the knife-worse-than-gun myth. Nor do I expect the following facts to make a difference to those who seek to protect guns before people, but, perhaps in some cases, I’ll be wrong. Let’s hope.).

  • More Americans suffer gun deaths by homicide and suicide in a six-month span than have died by terrorist attacks in the last 25 years and the Iraq and Afghanistan wars combined.
  • In one year, 31,224 people died from gun violence and 66,769 people survived gun injuries (National Center for Injury Prevention and Control (NCIPC)). That includes:
    o 12,632 people murdered and 44,466 people shot in an attack.
    o 17,352 people who killed themselves and 3,031 people who survived a suicide attempt
    with a gun.
    o 613 people who were killed unintentionally and 18,610 who were shot unintentionally
    but survived.
  • Over a million people have been killed with guns in the United States since 1968, when Dr.  Martin Luther King, Jr. and Robert F. Kennedy were assassinated (Childrens’ Defense Fund, p.20).
  • U.S. homicide rates are 6.9 times higher than rates in 22 other populous high-income
    countries combined, despite similar non-lethal crime and violence rates. The firearm homicide rate in the U.S. is 19.5 times higher (Richardson, p.1).
  • Among 23 populous, high-income countries, 80% of all firearm deaths occurred in the United States (Richardson, p. 1).
  • The estimated  cost of gun violence U.S. citizens $100 billion annually
    (Cook, 2000).
  • An estimated 41% of gun-related homicides and 94% of gun-related suicides would not
    occur under the same circumstances had no guns been present (Wiebe, p. 780).
  • Higher household gun ownership correlates with higher rates of homicides, suicides, and
    unintentional shootings (Harvard Injury Control Center).
  • Keeping a firearm in the home increases the risk of suicide by a factor of 3 to 5 and increases the risk of suicide with a firearm by a factor of 17 (Kellermann, 1992, p. 467; Wiebe, p. 771).
  • Keeping a firearm in the home increases the risk of homicide by a factor of 3 (Kellermann, 1993, p. 1084)

For those who care about facts, you’re in my prayers. For those who don’t care about them or believe them, you’re in my prayers too, and that’s a fact.

With Love for Newtown, Ct – Children First

Four times I’ve faced a gun at close range.  In 1984 the trigger was pulled. I was shot in the head. The bullet is lodged in my brain. I do all I can not to remember the terror before the trigger was pulled and before, in the other instances, I escaped.

I’ve tried with all my heart and soul not to think (feel) about what those last moments were like for those innocent  people (20 children!) in Newtown, Connecticut.  I’ve tried and I failed. It dawned on me, as I was writing to a close friend this morning, that this may be a healthy thing. If we as people, people!, don’t really digest this horror, and decide that first and foremost we must do all we can to protect our children, nothing will happen, nothing will change, and we will all be accomplices in maintaining the heartbeat of this gun-soaked addicted-to-violence society we live in.

The lack of responsible gun control in this country plays a lead role in the 30,000 deaths a year by gun. As Nicholas Kristoff of the New York Times recently pointed out, “More Americans die in gun homicides and suicides in six months than have died in the last 25 years in every terrorist attack and the wars in Afghanistan and Iraq combined.”

One of the tragedies in all this is the instinct of some to protect guns before protecting children. As some have already pointed out,  if members of congress and community leaders and every citizen displayed a fraction of the courage the teachers and principal and school psychologist in Newtown displayed trying to protect the students of Sandy Hook Elementary School, what a difference we could make.

Connecticut Medical Examiner Dr. Wayne Carver said every one of the seven children he examined was shot from three to 11 times, some were shot while clinging to each other!  We must put children before guns. We must do something,  now. If we don’t, more children will die.