Gov't Attempting to Seize Smith & Wesson

[KathleenElsie]

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Gov't Attempting to Seize Smith & Wesson

http://jumpinginpools.blogspot.com/2...th-wesson.html
Marie Llosander
4/29/2009

Seemingly in line with other corporate seizures, the United States government appears to be attempting to gain a majority stake in prominent firearms company Smith & Wesson.

Smith & Wesson, one of the oldest weapons companies in the United States, is currently on sound economic footing. However, a clause in the 2009 Stimulus Bill calls for the federal government to seize industries and companies that are essential to the economy or 'government function.'

The Treasury Department contacted the company in March 2009, asking to buy shares at $10 above market price. However, this offer was sharply rebuffed. Similar offers have been made to Remington.

After this rejection, the Treasury Department has declared that it will use mechanisms in the Stimulus Bill in order to override the corporate decision. Smith & Wesson's board of executives have also been informed that this decision by the Treasury Department could not be appealed to any superior court.

[Rick O'Shay]

I can't find anything to substantiate that.

Right now there are 47.2 million shares in SWHC, and of those, 35.87% are held by institutional investors and 10.15% are held by company insiders.

[Glock Fan]

I can't find anything to substantiate that.

Right now there are 47.2 million shares in SWHC, and of those, 35.87% are held by institutional investors and 10.15% are held by company insiders.

Who holds the remaining 50% + shares?


gf

[Rick O'Shay]

Usually individual investors as well as the company holding onto some. A lot of companies like to buy up stock when they feel it is cheap because it is useful to give to key employees as incentives. The average volume traded is 1.35 mil/day so there are a lot of shares out there.

[CathyInBlue]

Tags: satire, Smith and Wesson, Stimulus Bill, Treasury Department

Note first tag. I missed it the first time through too.

[Rick O'Shay]

Note first tag. I missed it the first time through too.

Good catch.

[stumpjumper101]

i know us gun clinging bible holding people have been buying guns and ammo at an alarming rate, but with this move by the government it makes one think that the ammo shortage we are experiencing is really not a shortage at all , maybe the treasury dept is buying it up before it can leave the warehouse so it doesnt fall into our hands. for what reason would the government want to buy a firearms company i can think of only one, if he cant take them from us he can surely see to it no more are manufactured for us to buy..

[KathleenElsie]

LOL satire now yes. What happens when BHO is done with the health thing. Maybe then this won't be funny but true.

[cmblake6]

I saw no satire in it. I can believe that they would try. And please forgive me for being humorless, but cold anger can do that to a man. Slightly OT, but how's that pedophile hate crime protection sitting in your gut now, 52?

[KathleenElsie]

I saw no satire in it. I can believe that they would try. And please forgive me for being humorless, but cold anger can do that to a man. Slightly OT, but how's that pedophile hate crime protection sitting in your gut now, 52?

I have made it a point to make sure everyone knows what the "hate crimes" bill can do to us. Protecting the pedophiles just makes my skin itch.