Cerberus Capital with the blood of innocents in their hands?
"Trace the semiautomatic assault rifle used in Friday’s slaughter in Newtown, Connecticut, to its origin—back to the store where it was bought, the factory where it was produced, and the companies that profited from its sale—and you’ll end up in the Midtown Manhattan headquarters of a private equity firm named after a mythical three-headed dog that guards the entrance to the underworld."
"Cerberus quietly dominates the American gun industry, selling more firearms and ammunition in the US than anyone else. In 2008, by its own account, Cerberus’s Freedom Group sold half of the nation’s semiautomatic rifles along with 37% of traditional rifles, 31% of shotguns, and 33% of ammunition. All told, Freedom Group says it sold 1.2 million long guns and 2.6 billion bullets in the 12 months between April 2009 and March 2010, the most recent year for which data is available, generating $846 million in revenue."
http://qz.com/37276/meet-the-private-equity-firm-that-dominates-the-us-…
I think they should have hell to pay for what they have caused. They are, in part, responsible for what happened in CT. (I'm sure they support the NRA). I hope any monkeys that work there lose sleep over this.
Are you seriously going to lose sleep over this? Someone has to own the company that created the gun. Why vilify the private equity firm? They have no control over the demented freaks that find a way to purchase their products.
Someone has to own it? you make it sound like they plotted on funding this roll-up simply to inflict mass casualties...if they didn't someone else would have.
You're a dumbass.
Throw all the LPs in prison!
Even Chait, the OWS loving liberal at NYMag, points out that virtually all gun violence in the USA is carried out with handguns, not rifles. This was an anomaly.
I'm definitely pro gun-control (which to me means things like waiting periods, mental health checks, limits on ammunition, etc), but Bushmaster's aren't generally being used to mow down people...but have fun trying to ban handguns.
I see that the evil capitalist pigs are out in force today.
End yourself. If you want to live somewhere where handguns are illegal, move to England and enjoy your Orwellian paradise. Enjoy the CCTV.
It's also pretty insensitive to troll and laugh at the results when the subject matter is the death of children.
http://www.bloomberg.com/news/2012-12-18/cerberus-outlay-reviewed-by-pe…
"Cerberus Capital Management LP, the New York-based investment firm that owns the largest U.S. gunmaker, will put the company up for sale, acting four days after one of its rifles was used in the Connecticut school shootings that left 26 people dead, including 20 six- and seven- year-olds."
Hahahaha.
I was just trolling yesterday, but it seems like it even got to them.
This isn't something you troll about
Let me say first that I support an assault weapons ban, but this is ridiculous. Whether or not you were trolling I think anyone reading who has Huffington Post on the other tab needs to listen.
The company overtaken by Cerberus legally sold those guns.
The killer's mom was the buyer. So don't act like some Charles Manson figure walked in the store at 4 AM and they gave him an assault rifle.
Cerberus didn't sell those guns, nor did they kill those kids. I know that seems obvious but in the era of OWS and the likes, it's best I just get that out there.
Yes, Mitt Romney is a douche, but that is completely independent of his career in private equity. He would still be as big a douche if he was a nurse practitioner or construction worker.
If you're one of those people who loves finding someone to blame, there are tons of credible people to take a swin at. Cerberus Capital isn't one of them.
i second this.
Why would you support an assault weapon ban? Do you really think a weapon having a bayonet lug or a grip that protrudes from its bottom actually makes it deadlier than any other type of rifle?
Saw this this morning: (http://www.privateequityinternational.com/article.aspx?article=70879):
Cerberus announces plans to exit gunmaker The tragic massacre at Sandy Hook Elementary School has led the New York-based private equity firm to initiate the process of divesting from Freedom Group, which manufactured a rifle used in the shooting. Sam Sutton Cerberus Capital Management will exit its stake in firearm manufacturer Freedom Group, citing the horrific tragedy at Sandy Hook Elementary School as motivation for the firm’s decision.
On Friday, a semiautomatic rifle manufactured by Freedom Group company Bushmaster was used in a mass shooting at Sandy Hook that left 27 dead – including 20 children between the ages of 6 and 7.
“We cannot comprehend the losses suffered by the families and friends of those killed by the unthinkable crimes committed that day,” Cerberus said in a statement on Tuesday. “It is apparent that the Sandy Hook tragedy was a watershed event that has raised the national debate on gun control to an unprecedented level. Accordingly, we have determined to immediately engage in a formal process to sell our investment in Freedom Group.”
Cerberus will retain a financial advisor to design a sale process of its interests in Freedom Group, at which point capital generated by the sale will be returned to investors, according to the statement.
On Monday, a spokesman for longtime Cerberus limited partner the California State Teachers’ Retirement System indicated that its staff would review Cerberus’ investment in Freedom Group in light of the shootings, according to a Reuters report.
Cerberus formed Freedom Group in 2006 after acquiring Bushmaster and several other firearm and ammunition manufacturers, such as Remington, DPMS Firearms and Marlin Firearms. The firm had planned to take Freedom Group public through a $200 million offering, which it filed in 2009 but later requested to withdraw in 2011, according to reports. Cerberus did not indicate why Freedom Group withdrew its IPO.
Whether or not Cerberus owns Freedom Group, guns will continue to be made and sold. Gun control isn't the answer. Every right we have in this country (2 Amendment included) comes with responsibility. If someone abuses their right and has a lack of responsibility, they should be punished accordingly. What happened in Conn. makes me sick, but don't take guns away from the responsible. The issue is much deeper than the availability of guns.
Seeing guns as the problem is like saying the spoon made the person fat.
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