Skip to comments.Cerberus: We want out of gun biz
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 ...
Just trying to be politically correct this month. They’ll get over it.
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?
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.
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.
After a 10% drop off, I bought some RGR and SWHC and will hold for two years.
...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.
With the way gun sales are going I would divest from Cerebus immediately. What a stupid decision
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:
Mystery company buying up U.S. gun manufacturers
BREAKING: Bank of America Reportedly Drops Gun Company for Political Reasons
Nation sees a sharp drop in gun dealers
March 22, 2006
New gun control: Shut down shops
Wed 27 Jun 2007
The New Gun Control for 2009- Make Them Too Expensive To Buy
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.
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.
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
How much of a loss are they willing to take to divest themselves of these stocks??? Their loss will be someone else’s gain.
Canada abolishes long gun registry
Russian Gun Lobby Seeks Right To Bear Arms
I’ll keep playing their game!
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
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
Do you have a link to the source of that list? I’d like to reference it going forward.
Do you have a link to the source of that list? I’d like to reference it going forward.
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?
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.
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!
I think it is possible. This is a kneejerk reaction by these people. I sure wouldn’t want them investing my money.
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.
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.
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 ;)
Well said. From the left,...
Freedom Group, a gunmaker ripe for an ethical takeover
......................In the summer of 2007 Cerberus purchased 80% of Chrysler for about $3 billion......... Cerberus lost its investment in Chryslers auto operations in the federal government directed bankruptcy/restructuring in early 2008.................
Correct, see my comment #23
given their track record with auto manufacturers, i would say they are not the investors to follow.
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.
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