Sell outs. My friend drives truck, and he said he delivers Remington products across country. He stated that Remington is sitting on tons of ammo, and will hardly sell any of it. Probably been in cahoots with big brother for quite some time.
I will never buy any thing from them again.
Cerberus Capital Management LP has struggled to find investment banks to help sell Freedom Group Inc., the gun company whose rifle was used in the shooting spree in Newtown, Conn., said people with knowledge of the matter.
Banks including JPMorgan Chase & Co., Credit Suisse Group AG and Barclays Plc declined to advise New York-based private-equity firm Cerberus on the sale and also won’t represent a potential buyer, said the people, who asked not to be identified because the process is private. Many of the banks were concerned about potential damage to their reputations, the people said.
Cerberus is getting help from Lazard Ltd. on the sale, several of the people said.
It’s a rarity on Wall Street for so many banks to eschew an assignment, especially one potentially worth millions of dollars in fees. Freedom Group could fetch as much as $1 billion, according to data compiled by Bloomberg....
“Good investment banks will stay away from transactions where the company or management is not reputable,” said Elliott, a former investment banker. “It’s pretty rare that they will stay away because the public doesn’t like the industry.”.......
Cerberus may have to take a lower price or be unable to sell the business because so many banks are unwilling to work on the deal, said one of the people with knowledge of the matter.
didn't smith and wesson do this years ago to protect themselves? I seem to remember them doing something like being okay with limiting private citizens because they were angling for government contracts, maybe I'm wrong.
I suppose they could move the entire thing overseas.
I'm glad they are staying in the comunity where they have workers and their families to think about. The state is better off with gun manufacturing within it's borders as far as helping to keep pro-gun voters in the sate.