Cerberus to sell Freedom Group after school shootings

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Wicked
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Cerberus to sell Freedom Group after school shootings

Post by Wicked » Tue Dec 18, 2012 9:08 am

Looks like pressure from the state teachers retirement fund in Cali has forced the hand of money managers to divest their firearms holdings.


http://news.yahoo.com/cerberus-sell-gun ... ector.html


Reuters) - 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. Pressure mounted on Cerberus as the California State Teachers' Retirement System (CalSTRS) said on Monday it was reviewing its investment with the private equity firm after the Connecticut school shooting.

CalSTRS had invested $751.4 million with Cerberus by the end of March 2012, according to its website. Cerberus acquired firearms maker 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, Connecticut killings that claimed 27 lives, including 20 school children. The private equity firm said it will retain a financial adviser to sell its interests in Freedom Group, and will then return that capital to investors.

Founded in 1992 by Stephen Feinberg and William Richter, New York-based Cerberus has over $20 billion under management invested and shares its name with a mythical three-headed dog that in Greek mythology guards the entrance to the underworld.


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ronin111
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Re: Cerberus to sell Freedom Group after school shootings

Post by ronin111 » Tue Dec 18, 2012 9:41 am

It was fine when they were making money. :roll:

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MV10
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Re: Cerberus to sell Freedom Group after school shootings

Post by MV10 » Tue Dec 18, 2012 10:27 am

New Yorkers playing ball with California unions? Say it ain't so!
Modern American political discourse: http://www.youtube.com/watch?v=tpAOwJvTOio

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Re: Cerberus to sell Freedom Group after school shootings

Post by rimshaker » Tue Dec 18, 2012 10:38 am

AAC should remain independent again...maybe with Kevin Brittingham back on the reigns.

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Re: Cerberus to sell Freedom Group after school shootings

Post by Solothurn » Tue Dec 18, 2012 10:50 am

Prolly be the best thing to happen to Freedom Group.

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Re: Cerberus to sell Freedom Group after school shootings

Post by jeepjon » Tue Dec 18, 2012 11:54 am

Interesting...I believe they aren't even sure if the Bushmaster fired a shot in Conn.

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Re: Cerberus to sell Freedom Group after school shootings

Post by renegade » Tue Dec 18, 2012 11:58 am

Country is in full blown panic mode right now and could not make an non-emotional decision if it tried.

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Re: Cerberus to sell Freedom Group after school shootings

Post by DarkPhoenix » Tue Dec 18, 2012 3:39 pm

AWB renewal = loss of jobs
So much for fixing the economy in the next 4 years...

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Re: Cerberus to sell Freedom Group after school shootings

Post by MV10 » Tue Dec 18, 2012 6:56 pm

I love Drudge's spin on this one:

"CA Teachers' Retirement Fund Invested In Assault Rifle Manufacturer..."

:lol:
Modern American political discourse: http://www.youtube.com/watch?v=tpAOwJvTOio

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Re: Cerberus to sell Freedom Group after school shootings

Post by J Krammes » Tue Dec 18, 2012 11:09 pm

renegade wrote:Country is in full blown panic mode right now and could not make an non-emotional decision if it tried.
Panic mode would be nice right now. Everyone went full retard at ludicris speed this time... This is freaking nuts.
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Re: Cerberus to sell Freedom Group after school shootings

Post by OJB4 » Wed Dec 19, 2012 3:03 pm

J Krammes wrote:
renegade wrote:Country is in full blown panic mode right now and could not make an non-emotional decision if it tried.
Panic mode would be nice right now. Everyone went full retard at ludicris speed this time... This is freaking nuts.

Is that a Spaceballs reference?? IF so then kudos!!!! I love that movie!
I've gotta stop this habit.

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Re: Cerberus to sell Freedom Group after school shootings

Post by 700PSS » Wed Dec 19, 2012 3:20 pm

OJB4 wrote:
J Krammes wrote:
renegade wrote:Country is in full blown panic mode right now and could not make an non-emotional decision if it tried.
Panic mode would be nice right now. Everyone went full retard at ludicris speed this time... This is freaking nuts.

Is that a Spaceballs reference?? IF so then kudos!!!! I love that movie!
I think we just went plad!

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Re: Cerberus to sell Freedom Group after school shootings

Post by OJB4 » Wed Dec 19, 2012 3:57 pm

That's it......I'm watching it tonight!!!

Comb the desert!...... "Man, we ain't found s--t!"
I've gotta stop this habit.

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Re: Cerberus to sell Freedom Group after school shootings

Post by 700PSS » Wed Dec 19, 2012 4:05 pm

Dark Helmet: Before you die there is something you should know about us, Lone Star.
Lone Starr: What?
Dark Helmet: I am your father's brother's nephew's cousin's former roommate.
Lone Starr: What's that make us?
Dark Helmet: Absolutely nothing! Which is what you are about to become.

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Re: Cerberus to sell Freedom Group after school shootings

Post by OJB4 » Wed Dec 19, 2012 5:23 pm

Paaaa haaaaa haaaaa.......I love it!
I've gotta stop this habit.

iso
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Re: Cerberus to sell Freedom Group after school shootings

Post by iso » Wed Dec 19, 2012 8:09 pm

renegade wrote:Country is in full blown panic mode right now and could not make an non-emotional decision if it tried.
Agree!

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Re: Cerberus to sell Freedom Group after school shootings

Post by Bendersquint » Wed Dec 19, 2012 8:23 pm

jeepjon wrote:Interesting...I believe they aren't even sure if the Bushmaster fired a shot in Conn.
Yes the Bushy was used to shoot out the glass on the front doors of the school, but wasn't used on any humans.

This was on the nightly news so don't have a verifiable source.

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Re: Cerberus to sell Freedom Group after school shootings

Post by jeepjon » Wed Dec 19, 2012 11:02 pm

Would it make the gun grabbers happier if he used a crowbar on the windows???

The same thing happened in China on the same day, except that guy used a knife...which to a leftist would be why we need even MORE rules against weapons (don't confuse them with the facts). That wouldn't point to the fact that guns aren't the problem in our country...no...that would mean people would actually have to stand up for morals, stand against evil, and "label" something for what it is. OR...even worse...take responsibility for something happening.

We learned from Benghazi (spelling anyone?) that our government doesn't take responsibility.

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Re: Cerberus to sell Freedom Group after school shootings

Post by MV10 » Thu Dec 20, 2012 9:06 am

Bendersquint wrote:
jeepjon wrote:Interesting...I believe they aren't even sure if the Bushmaster fired a shot in Conn.
Yes the Bushy was used to shoot out the glass on the front doors of the school, but wasn't used on any humans.

This was on the nightly news so don't have a verifiable source.
I got a laugh (a bitter laugh, naturally) out of a description I heard from a CNN talking-head -- something like:
"This weapon is so powerful, he was able to literally create an opening by shooting his way inside."

As if to imply (I thought, anyway) that he shot his way through a wall all Neo-Matrix-style...
Modern American political discourse: http://www.youtube.com/watch?v=tpAOwJvTOio

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Re: Cerberus to sell Freedom Group after school shootings

Post by JasonM » Thu Dec 20, 2012 12:20 pm

OJB4 wrote:
J Krammes wrote:
renegade wrote:Country is in full blown panic mode right now and could not make an non-emotional decision if it tried.
Panic mode would be nice right now. Everyone went full retard at ludicris speed this time... This is freaking nuts.

Is that a Spaceballs reference?? IF so then kudos!!!! I love that movie!
Spaceballs and Tropic Thunder. double kudos
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Re: Cerberus to sell Freedom Group after school shootings

Post by twodollarbill » Thu Dec 20, 2012 1:31 pm

AAHHH.....Tropic Thunder!!!!

Les Grossman: Now I want you to take a step back... and literally F--k your own face!

Kirk Lazarus: Yo asshole! This motha' fucka's dead. Ain't no Chris Angel Mindfreak, David Blane trapdoor horse s--t jumpin' off here!

Kirk Lazarus: I'm just like a little boy, playin' with his dick when he's nervous.

Tugg Speedman: This is insane. Are you really going to abandon this movie? We're supposed to be a unit!
Kirk Lazarus: Suck my unit.

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Re: Cerberus to sell Freedom Group after school shootings

Post by J Krammes » Thu Dec 20, 2012 2:19 pm

JasonM wrote:Spaceballs and Tropic Thunder. double kudos

Jason nailed it... I was just trying to bring a little levity to all this crazyness.
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Re: Cerberus to sell Freedom Group after school shootings

Post by mj30wilson » Sat Dec 22, 2012 5:02 pm

They would be quite stupid to sell now but the process of finding a multi billions doller buyer may take a while. But the ar market is skyrocketing right now so they are going to be hard pressed to find a buyer after the ban goes into effect. They will be hung with the company and it probably will not last long post ban. If they ban ar's totally (highly unlikely) the brand will die. Bushmaster without ar's not very profitable.
I'm a reasonable guy most of the time but i must insist factory rifles now come with 1/8 m.o.a guarantee to support my fly wing shooting pastime.

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Re: Cerberus to sell Freedom Group after school shootings

Post by Historian » Sat Dec 22, 2012 5:19 pm

"Cerberus has over $20 billion under management invested and shares its name
with a mythical three-headed dog that in Greek mythology guards
the entrance to the underworld."

In keeping with Ancient Greek Mythology: The devilish media slime,
with their rampant marxist America hate STYX ( Στύξ ) to high heaven.

Where is SPAWN now that we need him!

And does not George Soros remind you of The Violator Clown from Hell? :)

Out of respect for the Season I shall not identify officials of Government and make
the humorous and further obvious comparisons.

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Re: Cerberus to sell Freedom Group after school shootings

Post by continuity » Sun Dec 23, 2012 6:46 am

Historian wrote:"Cerberus has over $20 billion under management invested and shares its name
with a mythical three-headed dog that in Greek mythology guards
the entrance to the underworld."

In keeping with Ancient Greek Mythology: The devilish media slime,
with their rampant marxist America hate STYX ( Στύξ ) to high heaven.

Where is SPAWN now that we need him!

And does not George Soros remind you of The Violator Clown from Hell? :)

Out of respect for the Season I shall not identify officials of Government and make
the humorous and further obvious comparisons.
And I thought my SSNcN was hard to understand at times... Have another drink brotha. Relax. You're gonna drive yourself into a stroke.
What amount of a man is composed of his own collection of experiences... and the conclusions that those experiences have allowed him to "know" for certain as "Truth"? :Ick

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