Free Republic
Browse · Search
General/Chat
Topics · Post Article

Skip to comments.

Cerberus: We want out of gun biz
CNNMoney, CNN ^ | December 18, 2012 | Dan Primack

Posted on 12/29/2012 1:17:02 PM PST by familyop

Private equity firm Cerberus Capital Management...Here is the firm's statement,..."Our role is to make investments on behalf of our clients who are comprised of the pension plans of firemen, teachers, policemen and other municipal workers and unions, endowments, and other institutions and individuals."

(Excerpt) Read more at finance.fortune.cnn.com ...


TOPICS: Business/Economy; Miscellaneous; Society
KEYWORDS: banglist; business; control; government; gun
That's the Cerberus that decided to divest in Freedom Group (Advanced Armament Corporation, Barnes Bullets, Bushmaster Firearms International, Dakota Arms, DPMS, Panther Arms, H & R Firearms, Marlin, Mountain Khakis, Para USA, Parker Gunmakers, Remington Arms, Remington Military, Remington LE, Remington PMPD, TAPCO).
1 posted on 12/29/2012 1:17:12 PM PST by familyop
[ Post Reply | Private Reply | View Replies]

To: familyop

Just trying to be politically correct this month. They’ll get over it.


2 posted on 12/29/2012 1:22:07 PM PST by FlingWingFlyer (Where can I pick up a 2013 Mayan calendar?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: familyop

Investing/divesting to control politics and government. It’s all the rage.

And while you’re reading, remember the demographics of the two recent mass murderers. And bear in mind as to where the economy is going (likely many more middle class layoffs). Much of the target demographic for “gun control,” perhaps?


3 posted on 12/29/2012 1:22:07 PM PST by familyop (We Baby Boomers are croaking in an avalanche of rotten politics smelled around the planet.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: familyop

They can probably see the writing on the wall regarding political action and potential legal action as well. Spin off that part while they can make a profit. It isn’t like those businesses will close, the divested company will still operate on its own.


4 posted on 12/29/2012 1:25:28 PM PST by mnehring
[ Post Reply | Private Reply | To 1 | View Replies]

To: familyop

The goal should be to make money.

Right now, gun stocks are performing very well.

So, you guys go ahead and cut off your nose to spite your PC face.

If I had investments with you, I’d drop you for getting out of firearm investments.

FIREARMS PROHIBITION HAS FAILED MISERABLY.
IT IS TIME TO REPEAL FIREARMS PROHIBITION AND ALLOW THE PEOPLE TO PROTECT THEMSELVES.


5 posted on 12/29/2012 1:27:11 PM PST by Ghost of Philip Marlowe (Prepare for survival.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Ghost of Philip Marlowe

After a 10% drop off, I bought some RGR and SWHC and will hold for two years.


6 posted on 12/29/2012 1:29:18 PM PST by BipolarBob (White , bitter, clinging to my Bible and AR-15.)
[ Post Reply | Private Reply | To 5 | View Replies]

To: familyop
"Our role is to make investments on behalf of our clients..."

...that make a PROFIT.

There should be no other consideration by Cerebrus unless directed by their clients to shift the makeup of their portfolio. No other consideration.

Idiots.

7 posted on 12/29/2012 1:33:21 PM PST by Bloody Sam Roberts (The best thing in life & the hardest thing in life is watching your children grow up.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: familyop; All

With the way gun sales are going I would divest from Cerebus immediately. What a stupid decision


8 posted on 12/29/2012 1:33:21 PM PST by SeminoleCounty (Fiscal Conservatives are Neither)
[ Post Reply | Private Reply | To 1 | View Replies]

To: familyop

I remember very well when S&W sold out, years ago —I’ve never again bought an S&W, and I know many others like me.

Anyone who doesn’t really want IN in the gun biz is someone I want OUT:

Just GO.


9 posted on 12/29/2012 1:34:21 PM PST by gaijin
[ Post Reply | Private Reply | To 1 | View Replies]

To: familyop

Mystery company buying up U.S. gun manufacturers
http://www.freerepublic.com/focus/f-news/2815973/posts

BREAKING: Bank of America Reportedly Drops Gun Company for Political Reasons
http://www.freerepublic.com/focus/news/2875027/posts

Nation sees a sharp drop in gun dealers
March 22, 2006
http://www.freerepublic.com/focus/f-news/1602192/posts

New gun control: Shut down shops
Wed 27 Jun 2007
http://www.freerepublic.com/focus/f-news/1856857/posts


10 posted on 12/29/2012 1:45:01 PM PST by familyop (We Baby Boomers are croaking in an avalanche of rotten politics smelled around the planet.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: familyop

The New Gun Control for 2009- Make Them Too Expensive To Buy
http://www.freerepublic.com/focus/bloggers/2228698/posts


11 posted on 12/29/2012 1:45:52 PM PST by familyop (We Baby Boomers are croaking in an avalanche of rotten politics smelled around the planet.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: AdmSmith; AnonymousConservative; Berosus; bigheadfred; Bockscar; ColdOne; Convert from ECUSA; ...

Thanks familyop.
Our role is to make investments on behalf of our clients who are comprised of the pension plans of firemen, teachers, policemen and other municipal workers and unions, endowments, and other institutions and individuals.

12 posted on 12/29/2012 1:46:54 PM PST by SunkenCiv (Romney would have been worse, if you're a dumb ass.)
[ Post Reply | Private Reply | View Replies]

To: familyop

Goodbye COSTCO - Hello Sam’s Club

AMERICANS CAN NOW DETERMINE WHERE TO SHOP AND SPEND THEIR MONEY

Election Cycle political donations, as reported by the Center for Responsive Politics.

Shopping

Price Club/Costco donated $225K, 99% went to Democrats

Rite Aid donated $517K, 60% went to Democrats

Magla Products (Stanley tools, Mr. Clean) donated $22K, 100% went to Democrats

Warnaco (undergarments) donated $55K, 73% went to Democrats

Martha Stewart Living Omnimedia donated $153K, 99% went to Democrats

Estee Lauder donated $448K, 95% went to Democrats

Guess, Inc. Donated $145K, 98% went to Democrats

Calvin Klein donated $78K, 100% went to Democrats

Liz Claiborne, Inc. Donated $34K, 97% went to Democrats

Levi Straus donated $26K, 97% went to Democrats

Olan Mills donated $175K, 99% went to Democrats

WalMart/Sam’s Club donated $467K, 97% went to Republicans

K-Mart donated $524K, 86% went to Republicans

Home Depot donated $298K, 89% went to Republicans

Target donated $226K, 70% went to Republicans

Circuit City Stores donated $261K, 95% went to Republicans

3M Co. Donated $281K, 87% went to Republicans

Hallmark Cards donated $319K, 92% went to Republicans

Amway donated $391K, 100% Republicans

Kohler Co. (plumbing fixtures) donated $283K, 100% Republicans

B.F. Goodrich (tires) donated $215K, 97% went to Republicans

Proctor & Gamble donated $243K, 79% went to Republicans


13 posted on 12/29/2012 1:51:53 PM PST by Patriot365
[ Post Reply | Private Reply | To 1 | View Replies]

To: familyop

How much of a loss are they willing to take to divest themselves of these stocks??? Their loss will be someone else’s gain.


14 posted on 12/29/2012 1:54:37 PM PST by Uncle Chip
[ Post Reply | Private Reply | To 1 | View Replies]

To: familyop

Canada abolishes long gun registry
http://www.freerepublic.com/focus/f-news/2868893/posts

Russian Gun Lobby Seeks Right To Bear Arms
http://freerepublic.com/focus/f-news/2973237/posts


15 posted on 12/29/2012 1:54:49 PM PST by familyop (We Baby Boomers are croaking in an avalanche of rotten politics smelled around the planet.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: familyop

I’ll keep playing their game!

Spirits?

Southern Wine & Spirits donated $213K, 73% went to Democrats

Joseph E. Seagrams & Sons (incl. Beverage Business and considerable media interests) donated $2M+, 67% went to Democrats

Gallo Winery donated $337K, 95% went to Democrats

Coors & Budweiser donated $174K, 92% went to Republica

Brown-Forman Corp. (Southern Comfort, Jack Daniels, Bushmills, Korbel Wines, Lenox China Dansk and Gorham Silver) donated $644 K — 80% went to Republicans

Hungry?

Sonic Corporation donated $83K, 98% went to Democrats

Triarc Companies (Arby’s, T.J. Cinnamon’s, Pasta Connections) donated $112K, 96% went to Democrats

Pilgrim’s Pride Corp. (chicken) donated $366K, 100% went to Republicans

Outback Steakhouse donated $641K, 95% went to Republicans

Tricon Global Restaurants (KFC, Pizza Hut, Taco Bell) donated $133K, 87% went to Republicans

Brinker International (Maggiano’s, Brinker Cafe, Chili’s, On the Border, Macaroni Grill, Crazymel’s, Corner Baker, EatZis) donated $242K, 83% went to Republicans

Waffle House donated $279K, 100% went to Republicans

McDonald’s Corp. Donated $197K, 86% went to Republicans

Darden Restaurants (Red Lobster, Olive Garden, Smokey Bones, Bahama Breeze) donated $121K, 89% went to Republicans

Heinz Republicans $64,000 Democrats $21,300! John Kerry’s wife’s company!!!

Traveling and/or dining

Hyatt Corporation donated $187K of which 80% went to Democrats

Marriott International $323K, 81% went to Republicans

Holiday Inns donated $38K, 71% went to Republicans


16 posted on 12/29/2012 1:55:55 PM PST by Patriot365
[ Post Reply | Private Reply | To 1 | View Replies]

To: Patriot365
"Home Depot donated $298K, 89% went to Republicans"

Thanks! Employees and investors of a company trying to compete directly against Home Depot have been projecting their own leadership problem on Home Depot for years. [Problem rhymes with years.]


17 posted on 12/29/2012 2:05:44 PM PST by familyop (We Baby Boomers are croaking in an avalanche of rotten politics smelled around the planet.)
[ Post Reply | Private Reply | To 13 | View Replies]

To: familyop

Pussies.


18 posted on 12/29/2012 2:10:13 PM PST by SoFloFreeper
[ Post Reply | Private Reply | To 1 | View Replies]

To: Patriot365

Do you have a link to the source of that list? I’d like to reference it going forward.


19 posted on 12/29/2012 2:16:37 PM PST by manic4organic (It was nice knowing you, America.)
[ Post Reply | Private Reply | To 16 | View Replies]

To: Patriot365

Do you have a link to the source of that list? I’d like to reference it going forward.


20 posted on 12/29/2012 2:16:59 PM PST by manic4organic (It was nice knowing you, America.)
[ Post Reply | Private Reply | To 16 | View Replies]

To: FlingWingFlyer

I wonder if in a few months they’ll sorta man up and admit this move had a negative impact on their bottom line, like Carbonite did after they pulled their ads from Rush’s show?


21 posted on 12/29/2012 2:21:24 PM PST by Impala64ssa (You call me an islamophobe like it's a bad thing.)
[ Post Reply | Private Reply | To 2 | View Replies]

To: Ghost of Philip Marlowe

It’s time to go on offense, and stop the drip, drip, drip of advancing socialism. It’s time for someone to introduce a bill to repeal the Gun Free Schools Act of 1990. It’s time to expand CCW in every state. It’s time to advance reciprocity in CCW from state to state. It’s time to allow citizens to carry loaded rifles and pistols in their cars so they can stop a crime, or protect themselves from feral gangs and criminals.


22 posted on 12/29/2012 2:23:27 PM PST by ez (When you're a hammer, everything looks like a nail.)
[ Post Reply | Private Reply | To 5 | View Replies]

To: familyop

That’s a fascinating business model statement

............”Our role is to make investments on behalf of our clients who are comprised of the pension plans of firemen, teachers, policemen and other municipal workers and unions.”....................

Cerberus was the prime financial investor in Chrysler Corp. before it recapitalized thru the government TARP program. It must have taken a huge hit on its equity investment as the stock got wiped out, but like GM, the unions made out like bandits setting new and illegal creditor priorities of bankruptcy laws.

Since Cerberus is in business to suck on the union’s teat, I wonder how much of the Chrysler UAW unions windfall payoff found its way back into the depleted pockets of Cerberus??

Inquiring minds are wondering about the potential size of the vig!


23 posted on 12/29/2012 2:33:26 PM PST by Noob1999 (Loose Lips, Sink Ships)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Impala64ssa

I think it is possible. This is a kneejerk reaction by these people. I sure wouldn’t want them investing my money.


24 posted on 12/29/2012 2:36:11 PM PST by FlingWingFlyer (Where can I pick up a 2013 Mayan calendar?)
[ Post Reply | Private Reply | To 21 | View Replies]

To: gaijin

S&W was purchased by a pro-2 Amendment Co. I don’t know all the details, but I’m looking at their entry level AR.


25 posted on 12/29/2012 2:38:47 PM PST by stevio (God, guns, guts.)
[ Post Reply | Private Reply | To 9 | View Replies]

To: FlingWingFlyer

Dan Quayle, Republican Vice President of the United States, under George H.W. Bush, joined Cerberus in 1999 and is Chairman of the company’s global investments division. Based on his title he likely played a key role in making the decision to sell the weapons business.

In the summer of 2007 Cerberus purchased 80% of Chrysler for about $3 billion. It then proceeded to pile $20 billion of new debt on the company, a typical private equity play. By the end of 2008 Chrysler, crushed by the weight of its debt and declining auto sales due to the 2008 financial collapse, was insolvent. Cerberus lost its investment in Chrysler’s auto operations in the federal government directed bankruptcy/restructuring in early 2008.


26 posted on 12/29/2012 2:59:18 PM PST by Soul of the South
[ Post Reply | Private Reply | To 2 | View Replies]

To: familyop

If the current and future retirees get screwed as a result of this idiotic decision, I could see why the fund mgrs. would advocate for stricter gun laws ;)


27 posted on 12/29/2012 3:00:55 PM PST by Impala64ssa (You call me an islamophobe like it's a bad thing.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Noob1999

Well said. From the left,...

Freedom Group, a gunmaker ripe for an ethical takeover
http://www.cnn.com/2012/12/27/opinion/macintosh-gun-firm-takeover/


28 posted on 12/29/2012 3:04:03 PM PST by familyop (We Baby Boomers are croaking in an avalanche of rotten politics smelled around the planet.)
[ Post Reply | Private Reply | To 23 | View Replies]

To: Soul of the South

......................In the summer of 2007 Cerberus purchased 80% of Chrysler for about $3 billion......... Cerberus lost its investment in Chrysler’s auto operations in the federal government directed bankruptcy/restructuring in early 2008.................

Correct, see my comment #23


29 posted on 12/29/2012 3:07:52 PM PST by Noob1999 (Loose Lips, Sink Ships)
[ Post Reply | Private Reply | To 26 | View Replies]

To: FlingWingFlyer

given their track record with auto manufacturers, i would say they are not the investors to follow.


30 posted on 12/29/2012 4:25:30 PM PST by Chickensoup (Leftist Totalitarian Fascism coming to a country like yours.)
[ Post Reply | Private Reply | To 2 | View Replies]

To: familyop
Freep this poll, I didnt want to make a original post so the libtards could see it!
The poll is a bar right under the picture.
31 posted on 12/29/2012 5:45:41 PM PST by 45semi (A police state is always preceded by a nanny state...)
[ Post Reply | Private Reply | To 10 | View Replies]

To: manic4organic; Patriot365

Interesting. The Center for responsive Politics fails to open after a search. It is a part of Open Secrets.Org (opensecrets.org) which also fails to open from a search. I too would like verification of the source info.


32 posted on 12/29/2012 6:29:02 PM PST by chulaivn66 (Semper Fidelis in Extremis)
[ Post Reply | Private Reply | To 20 | View Replies]

To: 45semi
"Freep this poll, I didnt want to make a original post so the libtards could see it!
The poll is a bar right under the picture.
"

Thanks.

"A blanket ban on assault weapons and high-capacity magazines?

Yes 39%
No 61%"


33 posted on 12/30/2012 6:33:02 PM PST by familyop (We Baby Boomers are croaking in an avalanche of rotten politics smelled around the planet.)
[ Post Reply | Private Reply | To 31 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
General/Chat
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson