Skip to comments.Cerberus to sell gunmaker Freedom Group after U.S. school shooting
Posted on 12/17/2012 11:17:30 PM PST by Tailgunner Joe
U.S. private equity firm Cerberus Capital Management said on Tuesday it will immediately begin selling its investment in gunmaker Freedom Group in light of last week's school shooting in Connecticut.
Cerberus acquired Bushmaster in 2006 and later merged it with other gun companies to create Freedom Group, which reported net sales of $677.3 million for the nine months ending September 2012, up from $564.6 million in the same period a year ago.
Bushmaster is the manufacturer of the AR 15 rifle used by the shooter in the Newtown killings that claimed 27 lives, including 20 school children.
"We do not believe that Freedom Group or any single company or individual can prevent senseless violence or the illegal use or procurement of firearms and ammunition," Cerberus said in a statement.
(Excerpt) Read more at reuters.com ...
Eliot Spitzer: It's time to target Cerberus, the private-equity firm that dominates the gun industry - December 17, 2012 - "While Cerberus, whose array of holdings is vast, is generally immune to public pressure and the opprobrium of trafficking in products that while legal may be marketed in a loathsome way, Cerberus would not be immune to pressure brought by its own investors. The irony is that it was tougher to rent a car from Cerberus when it owned Alamo than to buy a semi-automatic."
Well, crap, that’s no good. Freedom encompasses a LOT of makers and Cerberus has been a good steward of those companies to date.
Gunz are even worse.
(Too bad, I really liked my Remington 1100 until it wuz lost a few years ago.)
Hey Eliot, go bang a hooker, you momzer!
Soros is going to grab it.
Apparently Cerebrus doesn’t have much of a cerebrum.
California teachers fund reviewing private equity gun investment - December 17, 2012 - The California State Teachers' Retirement System (CalSTRS) said on Monday it was reviewing its investment with Cerberus Capital Management LP, the private equity firm that controls Bushmaster Firearms International, in light of last week's school shooting in Connecticut.
CalSTRS had invested $751.4 million with Cerberus by the end of March 2012, according to its website.
They wouldn’t hold stock in Cerebus, but they might have money being managed by Cerebus. Cerebus is a hedge fund/investment advisor, not a public company.
Can’t they figure out that guns sales are about to go parabolic? What idiots.
Yep. You can count on it.
Sounds like I need to buy another Bushie. Not to celebrate the senseless murder, but to tick off the commies.
Liberals are severely tarded.
IIRC, there were a fair number of political mediocrities and "former this-or-that" types who were Cerberus investors, but I can't recall where I saw the roll call. I believe Dan Quayle was one, but don't hold me to that. Of course Gyorgy "Spooky Dude" Schwartz's name comes up, but I would imagine he has an investment in everything but the kitchen sink.
(And he might be in that.)
CalSTRS is a good example of how much better the Democrats are at camouflaging their love of filthy capitalist money than are Republicans, and whenever they do get caught, they are absolved by the congregation regardless of how contorted the logic has to get. Much lIke the preacher who rants about the evils of extramarital sex yet practices a little of it on the side (and as H. Allen Smith once said, "Not for research purposes, either"). Well, whatever they can get away with, eh?
Cerberus (more specifically "Freedom Group") might have been a quick way to inject capital into firearms manufacturing, but their QC record is not good, what with them being more bean-counters and ISO/Six Sigma/Lean process & procedure slash-and-burn types than is optimal ("I don't need to know anything about guns, I just need to know how to manage people.") The story of what happened to the assets and quality of Marlin is a great "how not to do it" tale.
Check out Windham Weaponry.
Our nation has become a pile of mush. It is sad.
I know there’s been a lot of bad information the past few days but can you give me a source that the .223 rifle was not used?
My understanding is that it was the primary weapon.
I think they're anticipating the new wave of lawsuits that will be coming down the pike.....
Freedom Group companies include:
Advanced Armament Corporation
Bushmaster Firearms International
DPMS Panther Arms
H & R Firearms
The AR-15 remained in the trunk of the car owned by Adam's mom. IT WAS NOT USED IN THE SHOOTING.
Bill O'Reilly stated the same mistaken premise last night on his show.
Very true. Cerberus is coasting on Remington's fine old history and reputation. If you buy an 870 Express, be prepared to either send it back to the factory or do a little home gunsmithing before it will run smoothly.
Those are some heavy-hitter names on that list.
Heres the video:
Looks like a shotgun.
I would say this is good news. Cerberus doesn’t want to deal with all the fallout and they’re not primarily gun people. Remington, Bushie, DPMS and Para are nothing but financials to most of those guys.
I’d rather they all operate independently than under a common corporate umbrella. More innovation, better customer service and overall responsiveness to the US market that way.
Last week, we placed an order for a production run of upper receivers from LAR Grizzly, and they were talking about new paperwork requirements since they were purchased by Remington about 4-5 weeks ago. Pretty standard stuff, just tax exemption forms, but we found it interesting that Remington had bought an AR-15 machine shop, when they already build their own line, and have DPMS in their fold.
IT WAS NOT USED IN THE SHOOTING.
Shouted out, in case it was missed in the media.
If you look closely, you can see the clip on the AR-15. Thanks for the link. I downloaded it before it vanishes.
Check this link out.
The medical examiner says all wounds were made by the AR-15.
This is stated near the end. Say what????
Remington won the most recent M4 contract.
According to the medical examiner, the Bushmaster AR-15 .223 was the weapon used to kill all of the victims in the school, except for the suicide shot. It's wasn't in the trunk of the car - it was in the school.
Lanza had a semi-auto shotgun locked in the trunk of the car.
Shotgun in trunk. That’s clear on both videos.
There was an anonymous police source on Sunday talking about a rifle in the trunk (not a shotgun). Aside from that, no other stories. Also the first video clearly shows a shotgun taken from the trunk.
The advertisers is where we win.
Imus on fox business is on a kook rant against the second amendment.
His is an easier show to eliminate. In addition to being pointless in the am business news, he already has the kook factor working against him.
CNBC had mayor doooooomberg ranting. (should he be chasing somebody enjoying a soda pop?)
hit the advertisers and make an example.
We already have the rinos exposing themselves.
Freedom Group was created by Cerberus to be spun off as a publicly traded company.
With firearm sales still extremely high, Cerberus will make a nice profit on its investment (which is their job).
The timing is just for PR purposes, nothing more. This sale of Freedom Group was going to happen soon anyway.
A lot of conflicting information out there...
Two handguns were also found at the scene, but law enforcement officials described the Bushmaster as the primary weapon.
Police also found a semi-automatic Bushmaster .223 caliber rifle inside the car her drove to the school, his mother’s car, and shell casings inside the school.
stop the oprahfication of our citizens.
politicians need oprah weakness to keep their power.
More proof that if you let a "Conglomo" touch something, it will eventually turn to excrement.
(Federalizing is the government equivalent.)
Sorry, no reports to date place the AR-15 in the school. NONE!
U.S. private equity firm Cerberus Capital Management said on Tuesday it will immediately begin selling its investment in gunmaker Freedom Group .. ~ snip ~ Freedom Group, which reported net sales of $677.3 million for the nine months ending September 2012, up from $564.6 million in the same period a year ago.Uh.. unless my calculator broke that's a 20% Profit (19.96%) and if I was a major shareholder, investor, I'd be pretty ticked. Like Talk to my LAWYER ticked as their profit is only going to go UP now thanks to all the DemonRATS caterwauling about massive new gun control (cough) 'laws'.
And If I was someone with assets like Mitt Romney, or Glenn Beck (he's got some very RICH friends), I'd be looking to maybe get into the buying mode. Or better still the evil billionaire Koch Bros buy it! THAT would drive the Moonbats over the edge.
I don’t see a magazine in the rifle, I see what appears to be a hand grip on the stock. I also see the LEO is working the action from the right side of the receiver. That would be inconsistent with an AR-15 style rifle which has it’s charging handle on the top rear of the upper receiver and would be worked by pulling to the rear over top of the buttstock, not from the front of the receiver.
So, that could be a semi-auto shotgun (like a Saiga with an AK style receiver) or any other numerous semi-auto shotguns with a pistol grip buttstock added.
I saw his presser live; it was awful.
There are so many inconsistent “facts” out there, that it’s pathetic and very confusing.
I don’t see an AR-15 magazine in any frame in that vid; look at the size of the round he jacks-out. It looks larger than a .223/5.56... just saying.
Article says it was a shotgun:
Use your preferred search engine with a phrase or two such as "lanza shot with bushmaster." Or "lanza shot with long rifle."
You'll find it's been three days since Chief Medical Examiner Dr. H Wayne Carver and the police identified the AR-15 as the weapon that Lanza used to kill the victims, and the Sig to kill himself.
BINGO! Sort of looks like my Remy 1187 Autoloader...
Also have this 870 Tactical...
That is what Rush said yesterday... that the police reports say the shooting was done with two 9mm’s. Rush also said EVERYTHING that they reported in the first 24 hours was ALL lies.
I am not sure that what is understood to be the intent of Cerberus is what is planned.
It may turn out a bit different.