Cerberus to sell gunmaker Freedom Group after U.S. school shooting

reuters.com ^ | December 18, 2012

[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.

[TSgt]

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.

[Hot Tabasco]

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.....

[Repeal The 17th]

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

[DoughtyOne]

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.

[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

[DoughtyOne]

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

[Texas Mulerider]

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.

[2111USMC]

Those are some heavy-hitter names on that list.

[Carriage Hill]

Here’s the video:

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

Looks like a shotgun.

[bereanway]

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.

[nin_kasi]

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.

[MaxMax]

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.

[DoughtyOne]

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

[Trailerpark Badass]

Remington won the most recent M4 contract.

[Scoutmaster]

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.

[palmer]

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

[palmer]

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.

[longtermmemmory]

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.

[Erik Latranyi]

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.

[TSgt]

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.