Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Cerberus to sell gunmaker Freedom Group after U.S. school shooting
reuters.com ^ | December 18, 2012

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 ...


TOPICS: Business/Economy; Front Page News
KEYWORDS: banglist; cerberus; freedomgroup
Navigation: use the links below to view more comments.
first 1-5051-94 next last
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."

1 posted on 12/17/2012 11:17:39 PM PST by Tailgunner Joe
[ Post Reply | Private Reply | View Replies]

To: Tailgunner Joe

Well, crap, that’s no good. Freedom encompasses a LOT of makers and Cerberus has been a good steward of those companies to date.


2 posted on 12/17/2012 11:21:21 PM PST by Spktyr (Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Spktyr
Gas cans are a public menace. That's why Blitz was bankrupted.

Gunz are even worse.

(Too bad, I really liked my Remington 1100 until it wuz lost a few years ago.)

3 posted on 12/17/2012 11:34:00 PM PST by Paladin2
[ Post Reply | Private Reply | To 2 | View Replies]

To: Tailgunner Joe
HOW MANY CONGRESSMEN AND SENATORS HOLD STOCK IN CERBERUS?
4 posted on 12/17/2012 11:35:27 PM PST by Doogle (USAF.68-73..8th TFW Ubon Thailand..never store a threat you should have eliminated))
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tailgunner Joe

Hey Eliot, go bang a hooker, you momzer!


5 posted on 12/17/2012 11:36:00 PM PST by Frank_2001
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tailgunner Joe

Soros is going to grab it.


6 posted on 12/17/2012 11:48:14 PM PST by Stormdog (A rifle transforms one from subject to Citizen)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tailgunner Joe

Apparently Cerebrus doesn’t have much of a cerebrum.


7 posted on 12/17/2012 11:57:36 PM PST by TigersEye (Who is John Galt?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Doogle
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.


8 posted on 12/17/2012 11:59:20 PM PST by Tailgunner Joe
[ Post Reply | Private Reply | To 4 | View Replies]

To: Doogle

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.


9 posted on 12/18/2012 12:44:57 AM PST by NVDave
[ Post Reply | Private Reply | To 4 | View Replies]

To: Tailgunner Joe

Can’t they figure out that guns sales are about to go parabolic? What idiots.


10 posted on 12/18/2012 12:47:01 AM PST by chuckles
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tailgunner Joe
If Cerberus sells quickly at a below market price, they should be subject to a shareholder lawsuit.
11 posted on 12/18/2012 1:59:44 AM PST by Truth29
[ Post Reply | Private Reply | To 1 | View Replies]

To: Stormdog

Yep. You can count on it.


12 posted on 12/18/2012 4:00:50 AM PST by EdReform (Oath Keepers - Guardians of the Republic - Honor your oath - Join us: www.oathkeepers.org)
[ Post Reply | Private Reply | To 6 | View Replies]

To: Tailgunner Joe
Damn it, how many times to I have to say not to trust Cerberus.


13 posted on 12/18/2012 4:01:58 AM PST by KC_Lion (Build the America you want to live in at your address, and keep looking up.-Sarah Palin)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tailgunner Joe

Sounds like I need to buy another Bushie. Not to celebrate the senseless murder, but to tick off the commies.


14 posted on 12/18/2012 4:12:03 AM PST by meyer (Proud member of the 53%.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tailgunner Joe

Liberals are severely tarded.


15 posted on 12/18/2012 4:15:19 AM PST by shelterguy
[ Post Reply | Private Reply | To 1 | View Replies]

To: Doogle
HOW MANY CONGRESSMEN AND SENATORS HOLD STOCK IN CERBERUS?

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.

Mr. niteowl77

16 posted on 12/18/2012 4:16:01 AM PST by niteowl77 (Oh, crap.)
[ Post Reply | Private Reply | To 4 | View Replies]

To: EdReform
How Freedom Group Became the Big Shot
17 posted on 12/18/2012 4:20:09 AM PST by EdReform (Oath Keepers - Guardians of the Republic - Honor your oath - Join us: www.oathkeepers.org)
[ Post Reply | Private Reply | To 12 | View Replies]

To: meyer

Check out Windham Weaponry.


18 posted on 12/18/2012 4:22:23 AM PST by Jim Noble
[ Post Reply | Private Reply | To 14 | View Replies]

To: Tailgunner Joe

Our nation has become a pile of mush. It is sad.


19 posted on 12/18/2012 4:25:35 AM PST by ilgipper (Obama supporters are comprised of the uninformed & the ill-informed)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tailgunner Joe
The Bushmaster rifle remained locked in a trunk while the demon killed with 2 9mm semi auto handguns. You want to know who killed those kids? satan killed those kids... when GOD is driven from a place... satan will fill the vacuum. evilcrats have driven GOD from our schools and are trying to purge HIM from society.

LLS

20 posted on 12/18/2012 4:28:40 AM PST by LibLieSlayer (A child is born in Bethlehem KING of KINGS)
[ Post Reply | Private Reply | To 1 | View Replies]

To: LibLieSlayer

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.


21 posted on 12/18/2012 4:33:28 AM PST by TSgt (...voters discover that they can vote themselves generous gifts from the public treasury.)
[ Post Reply | Private Reply | To 20 | View Replies]

To: chuckles
Can’t they figure out that guns sales are about to go parabolic? What idiots.

I think they're anticipating the new wave of lawsuits that will be coming down the pike.....

22 posted on 12/18/2012 4:39:40 AM PST by Hot Tabasco (Jab her with a harpoon.....)
[ Post Reply | Private Reply | To 10 | View Replies]

To: Tailgunner Joe

Freedom Group companies include:
Advanced Armament Corporation
Barnes Bullets
Bushmaster Firearms International
Dakota Arms
DPMS Panther Arms
H & R Firearms
Marlin
Mountain Khakis
Para USA
Parker Gunmakers
Remington Arms
Remington Military
Remington LE
Remington PMPD
TAPCO


23 posted on 12/18/2012 4:39:44 AM PST by Repeal The 17th (We have met the enemy and he is us.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tailgunner Joe
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.

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.

24 posted on 12/18/2012 4:44:45 AM PST by DoughtyOne (Semi-automatic rifles weren't used, so lets ban semi-automatic rifles to stop the madness. /s)
[ Post Reply | Private Reply | To 1 | View Replies]

To: DoughtyOne


The two pistols were found inside the school and
a .223-caliber Bushmaster rifle was found in the back of his mother's car in the parking lot.

LINK


25 posted on 12/18/2012 4:46:20 AM PST by DoughtyOne (Semi-automatic rifles weren't used, so lets ban semi-automatic rifles to stop the madness. /s)
[ Post Reply | Private Reply | To 24 | View Replies]

To: TSgt

http://www.freerepublic.com/focus/news/2969802/posts?page=25#25


26 posted on 12/18/2012 4:47:31 AM PST by DoughtyOne (Semi-automatic rifles weren't used, so lets ban semi-automatic rifles to stop the madness. /s)
[ Post Reply | Private Reply | To 21 | View Replies]

To: niteowl77
Cerberus (more specifically "Freedom Group") might have been a quick way to inject capital into firearms manufacturing, but their QC record is not good,

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.

27 posted on 12/18/2012 4:55:12 AM PST by Texas Mulerider (Rap music: hieroglyphics with a beat.)
[ Post Reply | Private Reply | To 16 | View Replies]

To: Repeal The 17th

Those are some heavy-hitter names on that list.


28 posted on 12/18/2012 5:01:14 AM PST by 2111USMC (aim small, miss small)
[ Post Reply | Private Reply | To 23 | View Replies]

To: DoughtyOne

Here’s the video:

http://www.youtube.com/watch?v=wLrxSgkqJQc

Looks like a shotgun.


29 posted on 12/18/2012 5:07:03 AM PST by carriage_hill (Don't whiz on the electric fence. Awwwww-yeah!)
[ Post Reply | Private Reply | To 25 | View Replies]

To: Tailgunner Joe

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.


30 posted on 12/18/2012 5:11:38 AM PST by bereanway
[ Post Reply | Private Reply | To 1 | View Replies]

To: Repeal The 17th

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.


31 posted on 12/18/2012 5:14:07 AM PST by nin_kasi
[ Post Reply | Private Reply | To 23 | View Replies]

To: DoughtyOne
The AR-15 remained in the trunk
of the car owned by Adam's mom.

IT WAS NOT USED IN THE SHOOTING.

Shouted out, in case it was missed in the media.

32 posted on 12/18/2012 5:18:48 AM PST by MaxMax
[ Post Reply | Private Reply | To 24 | View Replies]

To: carriage_hill

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????

http://www.youtube.com/watch?v=ju_NllT1iDo


33 posted on 12/18/2012 5:23:24 AM PST by DoughtyOne (Semi-automatic rifles weren't used, so lets ban semi-automatic rifles to stop the madness. /s)
[ Post Reply | Private Reply | To 29 | View Replies]

To: nin_kasi

Remington won the most recent M4 contract.


34 posted on 12/18/2012 5:24:27 AM PST by Trailerpark Badass (So?)
[ Post Reply | Private Reply | To 31 | View Replies]

To: MaxMax; DoughtyOne
Don't trust me; do your own research until you convince yourselves.

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.

35 posted on 12/18/2012 5:40:22 AM PST by Scoutmaster (You knew the job was dangerous when you took it)
[ Post Reply | Private Reply | To 32 | View Replies]

To: DoughtyOne

Shotgun in trunk. That’s clear on both videos.


36 posted on 12/18/2012 5:40:52 AM PST by palmer (Obama = Carter + affirmative action)
[ Post Reply | Private Reply | To 33 | View Replies]

To: DoughtyOne

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.


37 posted on 12/18/2012 5:43:57 AM PST by palmer (Obama = Carter + affirmative action)
[ Post Reply | Private Reply | To 25 | View Replies]

To: Tailgunner Joe

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.


38 posted on 12/18/2012 5:46:25 AM PST by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tailgunner Joe

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.


39 posted on 12/18/2012 5:48:43 AM PST by Erik Latranyi (When religions have to beg the gov't for a waiver, we are already under socialism.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: DoughtyOne

A lot of conflicting information out there...

http://abcnews.go.com/Blotter/connecticut-school-shooting-adam-lanza-mother-visited-gun/story?id=17992396#.UNBym3dstYA
Two handguns were also found at the scene, but law enforcement officials described the Bushmaster as the primary weapon.

http://www.cbsnews.com/8301-201_162-57559336/conn-school-shooting-what-we-know/
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.


40 posted on 12/18/2012 5:50:58 AM PST by TSgt (...voters discover that they can vote themselves generous gifts from the public treasury.)
[ Post Reply | Private Reply | To 25 | View Replies]

To: ilgipper

stop the oprahfication of our citizens.

politicians need oprah weakness to keep their power.


41 posted on 12/18/2012 5:57:04 AM PST by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
[ Post Reply | Private Reply | To 19 | View Replies]

To: Texas Mulerider
And Remington is just one of the companies that FGI/Cerberus has trashed. The Marlin line has become a quality control joke (they shut down 1894 production because of it), Barnes can't seem to fill an order correctly, DPMS is even worse than it was, etc.

More proof that if you let a "Conglomo" touch something, it will eventually turn to excrement.

(Federalizing is the government equivalent.)

Mr. niteowl77

42 posted on 12/18/2012 6:07:48 AM PST by niteowl77 (Oh, crap.)
[ Post Reply | Private Reply | To 27 | View Replies]

To: Scoutmaster

Sorry, no reports to date place the AR-15 in the school. NONE!


43 posted on 12/18/2012 6:11:35 AM PST by DoughtyOne (Semi-automatic rifles weren't used, so lets ban semi-automatic rifles to stop the madness. /s)
[ Post Reply | Private Reply | To 35 | View Replies]

To: Tailgunner Joe
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.

44 posted on 12/18/2012 6:17:12 AM PST by Condor51 (Si vis pacem, para bellum.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: DoughtyOne

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.


45 posted on 12/18/2012 6:20:07 AM PST by cidrasm
[ Post Reply | Private Reply | To 33 | View Replies]

To: DoughtyOne

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:

http://www.foxnews.com/us/2012/12/16/at-least-26-dead-in-shooting-at-connecticut-school/

Who knows?


46 posted on 12/18/2012 6:21:42 AM PST by carriage_hill (Don't whiz on the electric fence. Awwwww-yeah!)
[ Post Reply | Private Reply | To 33 | View Replies]

To: DoughtyOne
With due respect, your information is old.

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.

47 posted on 12/18/2012 6:26:07 AM PST by Scoutmaster (You knew the job was dangerous when you took it)
[ Post Reply | Private Reply | To 43 | View Replies]

To: cidrasm

BINGO! Sort of looks like my Remy 1187 Autoloader...

http://www.remington.com/products/firearms/tactical/shotguns/versa-max-tactical.aspx

Also have this 870 Tactical...

http://www.remington.com/products/firearms/tactical/shotguns/model-870-express-tactical-blackhawk.aspx


48 posted on 12/18/2012 6:26:59 AM PST by carriage_hill (Don't whiz on the electric fence. Awwwww-yeah!)
[ Post Reply | Private Reply | To 45 | View Replies]

To: TSgt

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.

LLS


49 posted on 12/18/2012 6:39:14 AM PST by LibLieSlayer (A child is born in Bethlehem KING of KINGS)
[ Post Reply | Private Reply | To 21 | View Replies]

To: Tailgunner Joe

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.


50 posted on 12/18/2012 6:39:28 AM PST by buffaloguy
[ Post Reply | Private Reply | To 1 | View Replies]


Navigation: use the links below to view more comments.
first 1-5051-94 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson