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.