Update on the Member Intervention and the state of the NRA Board
3 director resignations - are more on the way?
Member Intervention Update - the Judge has scheduled a hearing on September 9. It should be interesting. The hearing will be remote so there should be some zoom like ability to watch. I will post the link as it becomes available.
David Codrea has a good summary of the status here.
Board Resignation Update - Ted Nugent, Susan Howard and most unfortunately Buz Mills have resigned from the NRA Board. Robert Wos has already been announced to replace Nugent. Based on the last election that should also put former board member John Cushman and Nominating Committee endorsed Craig Swartz on the board. Two more votes in support of Wayne :-( The Indispensable NRA in Danger Blog has summaries of the resignations here:
https://nraindanger.wordpress.com/2021/08/03/three-more-directors-resign/
https://nraindanger.wordpress.com/2021/08/06/buzz-mills-resigns/
There are rumors that other Directors have resigned or are planning to resign.
Directors and Officers Insurance Update - Speculation is that Lloyds of London declining to renew the NRA’s Directors and Officers Insurance, and the NRA’s lame attempt to set aside a paltry $5 million reserve to cover indemnification costs for Directors (with 76 directors and 5 executives - that’s less than $62,000 per person) is the reason behind some of these resignations. Wayne has spend millions with Brewer to protect himself - how long will that $5 million last….. Again the NRA in Danger Blog has good summaries:
https://nraindanger.wordpress.com/2021/08/04/nra-directors-insurance-coverage/
https://nraindanger.wordpress.com/2021/08/01/nra-self-insuring-directors/
Also a great post on whether the NRA Directors are getting the legal counsel that they need, or is the Board counsel conflicted… https://nraindanger.wordpress.com/2021/08/05/attorneys-duties/
As more information becomes available, I will post updates.
Remember that the voting for NRA Directors MUST be at the accountants by August 15. Please complete your ballots and mail them now!