Gov't Attempting to Seize Smith & Wesson
Page 1 of 2 12 LastLast
Results 1 to 10 of 14

Thread: Gov't Attempting to Seize Smith & Wesson

  1. #1
    Join Date
    Apr 2009
    Location
    Somewhere in Western Pennsylvania
    Posts
    226

    Thumbs down Gov't Attempting to Seize Smith & Wesson

    --------------------------------------------------------------------------------

    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.

  2.   
  3. #2
    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.
    The Avatar is my Great-Great Grandaddy, CPL Samuel Francis Bondurant, Co. D, 4th Alabama, Law's Brigade, Benning's Division, 1st Corp, Army of Northern Virginia, shot through right thigh 2 JUL 1863.

  4. #3
    Join Date
    Jan 2008
    Location
    Honolulu, HI & Salt Lake City, UT
    Posts
    2,797
    Quote Originally Posted by Rick O'Shay View Post
    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
    "A few well placed shots with a .22LR is a lot better than a bunch of solid misses with a .44 mag!" Glock Armorer, NRA Chief RSO, Pistol, Rifle, Shotgun, Muzzleloading Rifle, Muzzleloading Shotgun, and Home Firearm Safety Training Counselor

  5. #4
    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.
    The Avatar is my Great-Great Grandaddy, CPL Samuel Francis Bondurant, Co. D, 4th Alabama, Law's Brigade, Benning's Division, 1st Corp, Army of Northern Virginia, shot through right thigh 2 JUL 1863.

  6. #5
    Join Date
    Mar 2009
    Location
    Indiana
    Posts
    993
    Note first tag. I missed it the first time through too.
    When they "Nudge. Shove. Shoot.",
    Don't retreat. Just reload.

  7. #6
    Quote Originally Posted by CathyInBlue View Post
    Note first tag. I missed it the first time through too.
    Good catch.
    The Avatar is my Great-Great Grandaddy, CPL Samuel Francis Bondurant, Co. D, 4th Alabama, Law's Brigade, Benning's Division, 1st Corp, Army of Northern Virginia, shot through right thigh 2 JUL 1863.

  8. #7
    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..
    We would be better off with BORAT as PRESIDENT!!!!

  9. #8
    Join Date
    Apr 2009
    Location
    Somewhere in Western Pennsylvania
    Posts
    226
    LOL satire now yes. What happens when BHO is done with the health thing. Maybe then this won't be funny but true.

  10. 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?

  11. #10
    Join Date
    Apr 2009
    Location
    Somewhere in Western Pennsylvania
    Posts
    226
    Quote Originally Posted by cmblake6 View Post
    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.

Page 1 of 2 12 LastLast

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Quantcast