Smith & Wesson Is Fighting Its Way Back

NY Times ^ | April 11, 2006 | LESLIE WAYNE

[neverdem]

SPRINGFIELD, Mass. — It is hard to imagine a company sinking as low as Smith & Wesson, the legendary arms maker that equipped soldiers from the Civil War to Vietnam and 98 percent of American police forces.

Just two years ago, the company's chairman was found to be a convicted felon: he had failed to disclose spending 15 years in jail for armed robbery. Federal investigators were looking into accounting irregularities, and the company's stock was stuck at $1.50 a share.

Adding to the company's woes, American soldiers for the last decade have carried Italian-made Berettas, while most police forces long ago switched to handguns from Glock, an Austrian company.

But now, with new owners and a new chief executive, Michael P. Golden, who once sold power tools for Black & Decker and bathroom fixtures for Kohler, Smith & Wesson is coming back to life — thanks to an expanding Pentagon budget and growing spending by the Homeland Security Department.

With consumer sales of rifles, shotguns and handguns remaining flat for the last decade, Smith & Wesson is casting its lot with Washington, where it is making headway with a new "Buy America" pitch in Congress and at the Pentagon.

The company recently won contracts to supply pistols to the fledgling Afghan security forces, its first Pentagon award in 15 years. Next, it wants to put a Smith & Wesson back into every American soldier's hand — a major contract worth up to $600 million.

Smith & Wesson was not the only American gun maker whose fortunes fell in recent years. Just last month, in nearby New Haven, the Winchester firearms factory — where the "gun that won the West" was made for 150 years — closed its doors. Another neighbor, Colt's Manufacturing, is a shadow of its former self...

[neverdem]

Jodi Hilton for The New York Times
At the Smith & Wesson plant, Armand Dacruz inspecting parts.

Jodi Hilton for The New York Times
Several dies for forming revolvers.
Audio Slideshow: Smith & Wesson, Past and Present (in a sidebar equivalent)

IMHO, this was pretty good for a business article.

[neverdem]

I thought I recognized the weasel's name.

"Repealing the assault weapon bans opened a new market for military-style and exotic weapons for consumers," said Robert A. Ricker, executive director of the American Hunters and Shooters Association, a membership group. "A lot of guys delight in having the biggest and most nasty-looking guns. That's one of the industry trends."

MAYOR MCCOLLUM, FORMER GUN INDUSTRY EXEC URGE OPPOSITION TO LEGAL IMMUNITY FOR GUN INDUSTRY

Robert A. Ricker, former Executive Director of the American Shooting Sports Council and former Assistant General Counsel for the NRA described a "see-no-evil, hear-no-evil, speak-no-evil" mentality within the gun industry when it comes to business practices that aid criminal access to guns.

[Beagle8U]

Smith and Wesson sold their soul to the devil when they sided with the gun-banners.

They can kma and go out of business for all I care.

[eastforker]

They might rebound with new leadership. I hope they do.

[Pistolshot]

Smith and Wesson sold their soul to the devil when they sided with the gun-banners.

That was when Tomkins owned S&W. I returned about $6000 worth of parts to them when they did that. After Tomkins sold them to the conglomerate I recieved a number of calls from S&W about the changes they were making, one of them was to dispose of the deal they made with the Clintoon administration.

Skeptical? Yes, however they have been good to their word about dealing with me and records of parts sales. So don't hold past actions with present management. S&W might just be keeping the Winchester name going too. Watch, listen, learn.

[oldenuff2no]

I will never buy another S&W. I'm a smith and a collector but they sold themselves to the Klinton gungrabbers and they can go down the drain as far as I'm concerned. They sold me out and I will never forget it!
Every time I buy another Ruger I send them an E-Mail telling them about it.

[neverdem]

I will never buy another S&W. I'm a smith and a collector but they sold themselves to the Klinton gungrabbers and they can go down the drain as far as I'm concerned. They sold me out and I will never forget it!

The management that sold their souls to gain the good graces of the abominable bent one's administration is long gone. Where have you guys been, sleeping?

[2ndClassCitizen]

A more logical approach is to find out where that management is today, and to boycott and otherwise legally take actions against them where they are currently located.

Only legal actions, like boycotting their present companies. No harrassment, no violence, etc.

[Beagle8U]

"The management that sold their souls to gain the good graces of the abominable bent one's administration is long gone. Where have you guys been, sleeping?"

I know they have new management, but the stockholders of the company have to pay a price for ever letting those nitwits have control.

Thats the bad thing about making stupid company decisions, and boycotts, they last for many years afterwords.

If they do everything right from now on, it still may take a generation to get their reputation back.

[liliesgrandpa]

So Bush helps out his brother Clinton again by having the military buy Smith & Wesson.

[The Duke]

It's almost as if Clinton has the confidential FBI files on everyone in power. Ooops...been there...done that!

[Erik Latranyi]

Those that want to harbor hatred against the Smith & Wesson brand name are as foolish as those that would not buy a Sony TV today because of the Japanese attack on Pearl Harbor.

[wastoute]

I feel the same about S&W but I also remember Ruger making a deal with the gun grabbers about "self-imposed" magazine capacity limits and the Old Man made very public pronouncements that private citizens didn't need hi-cap mags. It'll probably be a while before I buy S&W OR Ruger...

[redgolum]

It'll probably be a while before I buy S&W OR Ruger...

Which is why I buy Kimber and the ugly but accurate Savage.

[KoRn]

I've absolutely detested S&W ever since they jumped in bed with the Clinton Administration To reduce gun violence" back during the Left's last big push to destroy The 2nd Amendment.

For your Reading enjoyment:

http://clinton5.nara.gov/WH/New/html/20000317_2.html

[NonValueAdded]

Keep in mind that was when the Brits owned the company and those folks are long gone. Unlike people, companies do change when the leadership is swapped out.

[OXENinFLA]

As far as handguns goes I own.

2 Glocks
3 Rugers (Mark II,III)
1 Taurus

I guess I still hold a bias against S&W cause of their sellout w/ the Toon. I guess if they've changed their policies I may reconsider buying one, but I've never found myself thinking "yeah, I'm going to go buy a S&W today."

While I'm bitching a bit here I will say that Ruger ticked me off with the changes they may to the MKIII. A mag. disconnect and the LCI? Give me a freaking break!!

[Shooter 2.5]

Kimber frames were made by Smith and Wesson. I guess you might as well give that pistol away.

Smith is under new management. The morons who would boycott an American company for past agreements don't seem to have a problem buying ChiCom AK's. Go figure.

[redgolum]

Nah, I like the Kimber. When did Kimber start making their own frames?

As to S&W, a good portion of the "bad" management was replaced. I personally don't like their guns for unrelated reasons (although the new M&P pistol looks interesting). S&W has a long way to go to rebuild their reputation, and I imagine that a number of loyal customers have left for good.

Ruger's haven't really appealed to me either (beyond my old 10/22!). Beautiful guns, but I have had bad luck getting them to shoot well.

[sergeantdave]

I'm looking at S & W again. The idiot gun-grabbing Brits are gone. If I find a piece I like that fits a need and carries an attractive price, I'll buy from S & W.