Posted on 12/04/2011 11:18:08 AM PST by thecodont
Scarborough, Maine --
[...]
In recent years, many top-selling brands - including the 195-year-old Remington Arms, as well as Bushmaster Firearms and DPMS, leading makers of military-style semiautomatics - have quietly passed into the hands of a single private company. It is called the Freedom Group - and it is the most powerful and mysterious force in the U.S. commercial gun industry today.
Never heard of it?
You're not alone. Even within gun circles, the Freedom Group is something of an enigma. Its rise has been so swift that it has become the subject of wild speculation and grassy-knoll conspiracy theories. In the realm of consumer rifles and shotguns - long guns, in the trade - it is unrivaled in its size and reach. By its own count, the Freedom Group sold 1.2 million long guns and 2.6 billion rounds of ammunition in the 12 months ended March 2010, the most recent year for which figures are publicly available.
Behind this giant is Cerberus Capital Management, the private investment company that first came to widespread attention when it acquired Chrysler in 2007. (Chrysler later had to be rescued by taxpayers). With far less fanfare, Cerberus, through the Freedom Group, has been buying big names in guns and ammo.
From its headquarters in Manhattan, Cerberus has assembled a remarkable arsenal. It began with Bushmaster, which until recently was based here in Maine. Unlike military counterparts like automatic M-16s, rifles like those from Bushmaster don't spray bullets with one trigger pull. But, with gas-powered mechanisms, semiautomatics can fire rapid follow-up shots as fast as the trigger can be squeezed. They are often called "black guns" because of their color. The police tied a Bushmaster XM15 rifle to shootings in the Washington sniper case in 2002.
Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/12/03/BUJ91M4HL0.DTL#ixzz1favHTgT0
(Excerpt) Read more at sfgate.com ...
It sounds like the same kind of name that the District of Criminals gives to legislation. The names of laws always are the exact opposite of what they actually do.
My bet is that the "Freedom Group" is owned by George Soros himself.
Not Soros, Dan Quayle is one of the principles.
http://www.cerberuscapital.com/Biographies.aspx
I can hardly think of a better hedge against economic turmoil than guns guns guns.
You’re sure right about that! Brilliant move.
And if Cerebrus ever takes this company public, the IPO will make Googles look cheap.
You would be wrong about that ownership. Freedom Group has been good for the gun industry. Remington was an aging tired worn out company, filled with hanger ons and people that should have been let go a decade prior. Freedom Group has turned it and the others around. The gun industry is thriving today. Sales are up 25 to 50% for wholesalers and retailers.
Ubama has more to do with that than anybody.
Not owend by Soros...that’s an urban legend. Its owned by conseravatives. I believe Dan Qualte sits on the board.
I wonder why Natasha threw that in there. It is irrelevant to this article. General Motors "also had to be rescued by the taxpayers" and I don't think that they are out there buying up firearms manufacturers. Baseball bat companies maybe, but not firearms.
IMHO I don’t like all guns and ammo sold by one corporation. First they will outprice and put out of business the small main street dealers. Then the CEO will be pestered by his associates in an elite cocktail party about the evils of guns and all we need is one major massacre by a lone gunman the CEO might eliminate certain guns from the production list. Happened with Sports Authority in my area. They had the best prices for guns. Then during the Clinton years, the CEO decided not to sell handguns, then not to sell ammo and then got rid of all the guns altogether. Talked to the clerk at the store who had the FFL to conduct the sales. She told me that the gun sales were brisk and brought substantial profits to the store. All those years they caused many small gun stores to close, only to stop selling guns after most of the small dealers quit.
Lesson learned. Have multiple sources for gun sales. If one decides to not sell guns, the rest will swoop in and take over the market. Never concentrate the decision to sell guns on one person (CEO) who controls thousands of stores.
No, not Soros. And
Cerebrus is no more mysterious than any private company. I think we’re for private capital on the right, Occupiers, the 0.1% of the population who claim to represent 99% won’t do it. Not political that I know of, but along with Quayle, John Snow, Treasury Secutary under GWB.
I don't either, that's why we have anti-trust laws, but Bushmaster, Remington (Marlin) is probably a ways off from a firearms monopoly. It's good someone is investing in the industry.
I don't either, that's why we have anti-trust laws, but Bushmaster, Remington (Marlin) is probably a ways off from a firearms monopoly. It's good someone is investing in the industry.
Left out Panther, still short of a monopoly.
I don't either, that's why we have anti-trust laws, but Bushmaster, Remington (Marlin) is probably a ways off from a firearms monopoly. It's good someone is investing in the industry.
This is all good.
Good to maintain multiple companies that might otherwise struggle under Obamanism, good that Freedom Group will find cost synergies that will help hold prices down, and good for America that they are investing during a horrible economic period. This is how capitalism works, folks.
A part of every acquisition is Dept. of Justice signoff that it doesn’t violate anti-trust laws. That’s big gummint at work “for us”.
Don’t like it? Go start your own gun or ammo company. It’s still (mostly) a free country. But don’t bitch when capitalism does what it’s supposed to do, at least not around here.
Not true. We saw a run up of 25% to 35% starting November 2008 (virtually the day after the election) and through 2009 because of Obama and rumors he would attempt legislation that would harm the industry. That belief died down in 2010 as it appeared the GOP would take the House but sales kept near pace with 2009 largely due to handgun sales. Now in 2011 laregly handgun sales are pushing the level of sales up 25 to 35% over 2010. The gun industry is on a banner year again.
Not true. We saw a run up of 25% to 35% starting November 2008 (virtually the day after the election) and through 2009 because of Obama and rumors he would attempt legislation that would harm the industry. That belief died down in 2010 as it appeared the GOP would take the House but sales kept near pace with 2009 largely due to handgun sales. Now in 2011 laregly handgun sales are pushing the level of sales up 25 to 35% over 2010. The gun industry is on a banner year again.
IMHO I don’t like all guns and ammo sold by one corporation. First they will outprice and put out of business the small main street dealers.
They’re big, but they have ample competition.
Leftists or even a government front buying them all so they can shut them all down, is my bet.
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.