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Cerberus to Sell Bushmaster Maker After Shootings (Pressured by Calif. Teachers Pension)
Reuters ^ | Tuesday, December 18, 2012 | Sakthi Prasad

Posted on 12/18/2012 9:44:44 AM PST by kristinn

Following pressure from a major investor, U.S. private equity firm Cerberus Capital Management is selling gunmaker Freedom Group, whose Bushmaster AR-15 rifle was used in the Connecticut school massacre last week.

The California State Teachers' Retirement System (CalSTRS) said on Monday it was reviewing its investment with Cerberus in the wake of Friday's shooting, in which a gunman killed 20 children and six adults at Sandy Hook Elementary School and then took his own life.

Before going to the school, the gunman, Adam Lanza, 20, shot dead his mother in the home they shared, according to law enforcement officials.

In addition to Cerberus, some gun retailers also took steps.

SNIP

CalSTRS, the second-largest pension fund in the United States, had invested $751.4 million with Cerberus by the end of March 2012, according to its website.

Cerberus said on Tuesday it would hire a financial adviser to sell its interests in Freedom Group and return the proceeds to investors.

The private equity firm expressed shock and grief at the killings in Newtown but added that Freedom Group was not responsible.

"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," it said.

(Excerpt) Read more at reuters.com ...


TOPICS: Business/Economy; Front Page News; News/Current Events; US: California
KEYWORDS: banglist; bushmaster; calstrs; cerberus; freedomgroup
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1 posted on 12/18/2012 9:44:49 AM PST by kristinn
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To: kristinn

Teachers union?


2 posted on 12/18/2012 9:46:58 AM PST by sarasota
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To: kristinn

Spineless jellyfish succumbing to brutal Alinskyite tactics.


3 posted on 12/18/2012 9:48:02 AM PST by Trapped Behind Enemy Lines
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To: sarasota

...getting out of the line of fire (so to speak) of upcoming lawsuits?..


4 posted on 12/18/2012 9:48:43 AM PST by telstar12.5 (...always bring gunships to a gun fight...)
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Comment #5 Removed by Moderator

To: kristinn

Somebody is going to get a good deal —


6 posted on 12/18/2012 9:51:02 AM PST by Uncle Chip
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To: kristinn

So...shall spoons be outlawed because they make people fat?

That makes as much logic as punishing gun manufacturers.


7 posted on 12/18/2012 9:51:02 AM PST by SatinDoll (NATURAL BORN CITZEN: BORN IN THE USA OF CITIZEN PARENTS.)
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To: kristinn

WHOA WHOA WHOA WHOA ....

751 million dollars ? And the stock is being sold off, with all proceeds going back ?

That’s not hard to follow that money. Guess who just made a (round about) BILLION dollars from the death of 20 kids.


8 posted on 12/18/2012 9:52:18 AM PST by Celerity
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To: kristinn

Sad part is, we have gun grabbers on FR.
Ran across one the other day.
And he had buddies.

They have a new refrain, and that it is ‘silly’ or ‘glib’ to point out the fact that if someone was armed, crazed gunmen would be less likely to kill.

SO, these idiots outlined above won’t see anything wrong with this.


9 posted on 12/18/2012 9:52:38 AM PST by Darksheare (Try my coffee, first one's free.....)
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To: kristinn

I heard the AR-15 was left in the car and not even used! True or false?


10 posted on 12/18/2012 9:52:44 AM PST by TheRhinelander
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To: All

Yea go ahead and sell them. Sell them to another firearms company like Rock River or LMT, or perhaps at least someone that knows how to make that ACR they make better.

I’m tired of this PC anti-gun crap. The AR and pistols didn’t decide to kill those kids, it was the possessed body with his finger on the trigger that did it.


11 posted on 12/18/2012 9:53:32 AM PST by InsidiousMongo
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To: TheRhinelander
I heard the AR-15 was left in the car and not even used! True or false?

The earliest reports were saying that, but then the Medical Examiner stated on Saturday that all victims were shot and killed with .223 ammunition.

12 posted on 12/18/2012 9:55:13 AM PST by IYAS9YAS (Rose, there's a Messerschmitt in the kitchen. Clean it up, will ya?)
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To: kristinn

I have to wonder if they are also upset about anything else left in car?

How much more upset would they be had he actually take the Bushmaster into the school & (mis)USED it?

Are thy also upset about the make/model vehicle he stole & drove to the school?

What about his “body armor”?

All I keep hearing about is the unused, left in the car, Bushmaster.


13 posted on 12/18/2012 9:58:15 AM PST by ApplegateRanch (Love me, love my guns!©)
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To: kristinn

Gee....I hope in the hysterical melee of investor divestment that Bushmaster drops their prices some to stay afloat....I just might buy one.


14 posted on 12/18/2012 9:58:15 AM PST by Gaffer
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To: kristinn

Bushmaster is done as a brand. For that matter, most AR type rifles may be banned soon, so who bought them?


15 posted on 12/18/2012 9:58:26 AM PST by redgolum ("God is dead" -- Nietzsche. "Nietzsche is dead" -- God.)
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To: kristinn

Cerberus: from Greek mythology, the three-headed dog that stands at the entrance of the underworld. ???


16 posted on 12/18/2012 10:01:31 AM PST by sarasota
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To: kristinn; All

What I read from this decision : The fix is in. The AR15 is gone. There is no due process. It’s been phoned in.

The AR15 has already been banned. Prepare, those who need to only have a matter of days now.


17 posted on 12/18/2012 10:01:31 AM PST by Celerity
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To: kristinn
What a name for a company, Teacher’s Union doesn’t seem to concerned about that.

Photobucket

18 posted on 12/18/2012 10:05:01 AM PST by twistedwrench
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To: kristinn

Avoid schools, universities, and colleges in california. They have decided that any nutjob has the right to commit mass murder at will, and innocent students are not allowed to defend themselves, and will be prosecuted if they try. The uberliberals would rather die than admit being wrong.


19 posted on 12/18/2012 10:15:11 AM PST by factoryrat (We are the producers, the creators. Grow it, mine it, build it.)
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To: kristinn

“Never let a crisis go to waste”


20 posted on 12/18/2012 10:19:19 AM PST by bigbob
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To: All
Apparently it was Client #9, Eliot Spitzer, who got he ball rolling:

Eliot Spitzer, the former New York Governor, wants pension funds to exit their investment in Cerberus Capital Management, because of the firm’s connection to gun manufacturer Bushmaster.

New York-based Cerberus, which has more than $20 billion in assets, owns the Freedom Group, which calls itself the largest maker of commercial firearms and ammunition. Madison, N.C.-based Freedom owns Bushmaster, which makes the rifle used by Adam Lanza in the recent Connecticut massacre. (Spitzer calls it “the weapon that brought evil to Newtown.”) Freedom also owns Remington Arms Co., which is known for equipping U.S. soldiers, as well as Marlin Firearms Co., another rifle-maker.

Spitzer, in the Slate article, says it’s time to expose which pension funds have put money into Cerberus and pressure them to exit. Or, he wants Cerberus to alter how the gun industry operates. The former governor says it’s “ironic” that it was “tougher to rent a car from Alamo” when it was a Cerberus portfolio company than to buy a semi-automatic. “If a major union pension fund or university endowment has an investment with Cerberus, it surely doesn’t want to be tarred as a passive owner of the company that sells semi-automatic weapons with no background checks or concern for the use of the weapons,” Spitzer writes.

Ownership, Spitzer says, comes with both responsibility and power. “It is time for every comptroller and pension fund manager with an investment in Cerberus to use that power,” he says.

Spitzer called on those of us “on the outside” to identify Cerberus’s investors and make them act. The Term Sheet’s Dan Primack reports that CalSTRS committed to invest $500 million into a $7.5 billion Cerberus fund and could effectively own 6.67% stake in Freedom. CalSTRS is reviewing its investment in Cerberus in light of the Newtown school shooting,...SNIP

21 posted on 12/18/2012 10:19:40 AM PST by kristinn (Welcome to the Soviet States of Obama)
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To: Celerity; redgolum

redgolum:
“Bushmaster is done as a brand. For that matter, most AR type rifles may be banned soon..”

Celerity:
“What I read from this decision : The fix is in. The AR15 is gone. There is no due process. It’s been phoned in.
The AR15 has already been banned. Prepare, those who need to only have a matter of days now.”

I believe you are both right.

Looks like this is the “price”, the “bargaining chip” the Republicans will consent to in order to get the ‘rats off their backs on this issue in view of current events.

- The AR-15 and all variants will be banned from sale.
- Current owners may get to keep theirs, but will probably be banned from selling them or passing them to heirs.
- Folks who don’t own one will be banned from possessing one, period. They won’t even be able to buy (or be given or inherit) an older one.
- ALL magazines to fit AR-15’s, regardless of capacities, will be banned from sales or transfers.
- Probably restrictions on .223 ammo, too.

The Bushmaster (AR-15) was the weapon of choice in this incident. To make it “go away” will be the sacrifice the Pubbies offer, in exchange for leaving everything else alone.

Don’t like it (as I’m sure you don’t), but that’s what I see coming down the pike...


22 posted on 12/18/2012 10:22:58 AM PST by Road Glide
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To: Darksheare

You should post a list of their user names, just as an FYI.


23 posted on 12/18/2012 10:23:39 AM PST by Salamander (If animals could speak, mankind would weep.)
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To: kristinn

What an opportunity for Freedom Group to go public. They would sell out an IPO in a heartbeat. Just look at how Ruger and S&W stocks have performed. I’d buy it.


24 posted on 12/18/2012 10:23:49 AM PST by facedown (Armed in the Heartland)
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To: Salamander

They’ll out themselves soon enough!
Especially if the yelping dog press keeps the drumbeat going.


25 posted on 12/18/2012 10:26:49 AM PST by Darksheare (Try my coffee, first one's free.....)
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To: kristinn

What car did Adam Lanza use to drive over to the school, because using the logic of this article, that car manufacturer must also be boycotted.


26 posted on 12/18/2012 10:27:18 AM PST by Flick Lives (We're going to be just like the old Soviet Union, but with free cell phones!)
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To: kristinn

Flash forward ten or fifteen years to when we’re all in the Theresa Ghilarducci National Pension Plan where the Federal Government controls the funds and is the de-facto largest shareholder in any public company.

NOW you can see why they want to do that.


27 posted on 12/18/2012 10:30:02 AM PST by Buckeye McFrog
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To: Darksheare

sad indeed..

some are content to live in a ‘secure’ state and accept the state of affairs and the limitations inherent..

in the stone age, they’d have taken away your club and spear.. these days , your login and firepiece.


28 posted on 12/18/2012 10:32:41 AM PST by NormsRevenge (Semper Fi)
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To: kristinn

Say goodbye to your pensions, you RAT hacks.


29 posted on 12/18/2012 10:35:16 AM PST by ozzymandus
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To: sarasota

Cerberus is John Snow’s outfit-—the old treasury secretary. Same guys who nearly sunk Chrysler. They have a record of wading in to companies and wadding them up. They have pieces of action in other gun makers also and have ridden the market up in their stocks. They don’t have the stomach to hang around for a long fight so you can expect them to take their money and run.


30 posted on 12/18/2012 10:35:28 AM PST by cherokee1 (skip the names---just kick the buttz)
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To: NormsRevenge

They can have my club, upside their pea brained skulls.


31 posted on 12/18/2012 10:39:02 AM PST by Darksheare (Try my coffee, first one's free.....)
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To: Darksheare

“...They have a new refrain, and that it is ‘silly’ or ‘glib’ to point out the fact that if someone was armed, crazed gunmen would be less likely to kill.”

Gentlemen, I say ye...Nick Meli.

Clakamas mall

Drew down on the shooter, did NOT take the shot (see Col. Cooper’s 4th rule) but made his presence known

Next shot the shooter took was into himself after running into a cross hall or stair well (not certain).

Point is, an armed citizen stopped any more innocents from being killed.

These kinds of things seldom get reported to the Police and those that do are usually only seen in the NRA magazines or here among the brethren.


32 posted on 12/18/2012 10:39:02 AM PST by petro45acp ( Merry Christmas !! Adeste Fidele!)
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To: petro45acp

Exactly.
And the gun grabbers ignore that.


33 posted on 12/18/2012 10:40:39 AM PST by Darksheare (Try my coffee, first one's free.....)
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To: kristinn

Did they sell their GM stock after Mohammed Reza Taheri-azar rammed a crowd with his Jeep Grand Cherokee? that would make just as much sense.


34 posted on 12/18/2012 10:42:09 AM PST by Pollster1 (Freedom is never more than one generation away from extinction. - Ronald Reagan)
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To: IYAS9YAS
The earliest reports were saying that, but then the Medical Examiner stated on Saturday that all victims were shot and killed with .223 ammunition.

That does not mean that Lanza's .223 Bushmaster was not found in his car.

That only means that all victim's were shot with .223 caliber ordnance.

Ballistics tests...if any are being done...will determine which rifle fired the rounds recovered at the scene.

35 posted on 12/18/2012 10:44:44 AM PST by Bloody Sam Roberts (Political correctness does not legislate tolerance; it only organizes hatred.)
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To: Road Glide

Maybe yes, maybe no, but now is not the time to lie down and give up.

Make ‘em fight for every inch of ground.


36 posted on 12/18/2012 10:46:31 AM PST by absalom01 (You should do your duty in all things. You cannot do more, and you should never wish to do less.)
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To: Flick Lives

“What car did Adam Lanza use to drive over to the school, because using the logic of this article, that car manufacturer must also be boycotted.”

It appears Adam drove a black Honda Civic, the auto of choice for mass killers!


37 posted on 12/18/2012 10:52:48 AM PST by 2harddrive
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To: Bloody Sam Roberts
That does not mean that Lanza's .223 Bushmaster was not found in his car.

That only means that all victim's were shot with .223 caliber ordnance.

Ballistics tests...if any are being done...will determine which rifle fired the rounds recovered at the scene.

All true. No arguments from me. I was just reporting that they were killed with .223 ammo, which would have ruled out the Glock and Sig Saur handguns.

38 posted on 12/18/2012 11:05:26 AM PST by IYAS9YAS (Rose, there's a Messerschmitt in the kitchen. Clean it up, will ya?)
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To: IYAS9YAS

Saur - Sauer


39 posted on 12/18/2012 11:06:00 AM PST by IYAS9YAS (Rose, there's a Messerschmitt in the kitchen. Clean it up, will ya?)
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To: IYAS9YAS; Bloody Sam Roberts

I’ve seen some not so kosher medical examiners that would say whatever they were told to say.
It could be that the victims all died from pistol rounds, but someone with an agenda told him to claim .223 rounds.

We won’t know for awhile.
Unless video of the perp in the school is known somewhere showing what he had in his hands.


40 posted on 12/18/2012 11:13:22 AM PST by Darksheare (Try my coffee, first one's free.....)
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To: IYAS9YAS

It’s not an AR-15. I saw a cop carrying it. It was a wooden stock hunting rifle with a scope. I’ve held an AR-15. Our police Chief handed it too me. I know what it looks like up close.


41 posted on 12/18/2012 11:14:06 AM PST by massgopguy (I owe everything to George Bailey)
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To: Celerity

those letters will go but the item will continue.


42 posted on 12/18/2012 11:14:29 AM PST by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: IYAS9YAS

It’s not an AR-15. I saw a cop carrying it. It was a wooden stock hunting rifle with a scope. I’ve held an AR-15. Our police Chief handed it too me. I know what it looks like up close.


43 posted on 12/18/2012 11:14:38 AM PST by massgopguy (I owe everything to George Bailey)
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To: cherokee1

Good to know. Thanks.


44 posted on 12/18/2012 11:15:41 AM PST by sarasota
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To: twistedwrench

Isn’t there a forward in a book authored by a liberal radical who gives credit to Lucifer?


45 posted on 12/18/2012 11:18:10 AM PST by sarasota
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To: massgopguy

so the media mob is lying about the type?


46 posted on 12/18/2012 11:21:13 AM PST by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: massgopguy
It’s not an AR-15. I saw a cop carrying it. It was a wooden stock hunting rifle with a scope.

Any chance you may have a link to a photo?

So much is being said by the evil press that we need to have some of their lies broken, and what better place to start breaking them than here at FR. Dan Rather found that out the hard way.

47 posted on 12/18/2012 11:29:11 AM PST by OldMissileer
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To: sarasota

“Lest we forget at least an over-the-shoulder acknowledgment to the very first radical: from all our legends, mythology, and history... the first radical known to man who rebelled against the establishment and did it so effectively that he at least won his own kingdom — Lucifer.”

Saul Alinsky

Something tells me you know of this author :)


48 posted on 12/18/2012 11:32:32 AM PST by twistedwrench
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To: Darksheare

we have significant trolls here.

when it is likely the Media Mob will be lurking, the troll post the kook religion threads or nutcase creationism threads. It is no surprise outfits like poedesta’s media matters and the like would psy op here.


49 posted on 12/18/2012 11:40:58 AM PST by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: longtermmemmory

Yuppers.
Patience is the key to catching them.
They’ll get progressively bolder if the media drumbeat continues.


50 posted on 12/18/2012 11:43:58 AM PST by Darksheare (Try my coffee, first one's free.....)
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