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Editor's note: This article was submitted by a reader, and published by special request. Please refer to our disclaimer page. Not too long ago, I read an article regarding the gun maker Taurus agreeing to $30 million class action settlement over a trigger defect. In this article by Courtney Coren, two major items stand out to me... The first major thing that concerns me is the idea that a gun maker allegedly knew they were selling a defective gun since 2007. Eight years ago? Really? It took eight years before they're forced to do anything about it. I wonder how many of these guns were sold in the eight years they knew about the defect? My guess is it's way more than the 200,000 that are allotted for in the settlement. I doubt Taurus is worried about the $30 million settlement, because - if you do the math - the company had a gross revenue of $70 million from those 200,000 pistols (average cost of $350 per pistol). Now, stop and think for a second... What if they actually sold one million of these nine types of guns involved with the settlement? Then their gross revenue would be more likely $350 million. At that quantity, the settlement is more like a "cost of goods sold" rather than a penalty. They still made $320 million off of selling potentially lethally defective handguns. |
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