Richard N. Cabela: Big-Time Retailer and Big-Game Hunter

Richard N. Cabela: Big-Time Retailer and Big-Game Hunter

SHELLY BANJO

Feb. 17, 2014 10:58 p.m. ET

Richard N. Cabela, a larger-than-life big-game hunter who was outspoken about the right to own guns and co-founded a chain of stores that capitalized on their sale, has died.

Mr. Cabela, 77 years old, died at his home in Sidney, Neb., his company, outdoor-gear retailer Cabela’s Inc., CAB 0.00% said Sunday.

He had served as chairman of the retailer’s board until June 2013, when his brother Jim Cabela took over the post.

Avid hunters and fishermen, the Cabela family started the company in 1961 when they purchased $45 worth of hand-tied fishing flies in Chicago and sold them through a mail-order offer placed in an advertisement in a sports magazine.

Along with his wife, Mary, Mr. Cabela produced a three-page mimeographed catalog that was mailed with each order. In the late 1980s, the company added Web sales and began opening sprawling storefronts resembling wildlife preserves that were known for displaying massive aquariums and taxidermied deer and lions. Cabela’s now has 50 stores in the U.S. and Canada. It also has a financial subsidiary called “The World’s Foremost Bank,” which it chartered in 2001 to serve its growing credit-card business.

The company became one of the largest sellers of firearms and ammunition in the U.S., benefiting from the guns and ammo-buying frenzy that followed President Barack Obama‘s re-election in 2012.

The election, as well as a series of violent shootings across the country, sparked gun purchases by people who feared a wave of increased regulation and the introduction of policies that would make buying a gun more difficult.

In 2013, about a fifth of Cabela’s $3.6 billion in sales came through guns and ammo.

Cabela’s and its founders were big supporters of the National Rifle Association, which honored the retailer in 2012 for being one of the few companies to donate more than $1 million to the gun-rights organization.

In an interview featured on the company’s website, NRA Chief Executive Wayne LaPierre asks Mr. Cabela what he would say to a hunter who isn’t a member of the NRA.

“I’d say, how are you going to hunt without a gun,” Mr. Cabela said, wearing a camouflage blazer and sitting with his wife at their Nebraska home, which is full of mounted animals from the couple’s big-game hunting trips clambering over rocky tableaus.

“Some of these countries have no freedom, and a lot of that comes down to the right to bear arms,” he said.

He leaves his wife, their nine children and their families.

Recounting a recent trip to Ethiopia, booked after he heard a rumor that elephant hunting would be shut down across Africa, Mr. Cabela said in the videotaped interview, “I told Mary, we’d better go shoot an elephant before we can’t do it anymore.”

 

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Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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