Dick's Sporting Goods - suspends gun sales

[QueEx]

Sporting goods chain suspends sale of
certain semi-automatic after shooting
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c a b l e n e w s n e t w o r k
By Susan Candiotti
December 18, 2012

CNN) -- Dick's Sporting Goods, one of the largest sporting goods retailers in the world, says it has removed all guns from its store nearest to Newtown, Connecticut, and is suspending the sale of certain kinds of semi-automatic rifles from its chains nationwide.

The move was made out of respect for the victims and families of last week's Sandy Hook Elementary School shooting "during this time of national mourning," the store said in a statement Tuesday morning.

"We continue to extend our deepest sympathies to those affected by this terrible tragedy," the statement said.

It was unclear how long the store will keep the suspension in place for the guns, known as 'modern sporting rifles.'

It's also not known whether this is the first time the store has taken such a step after a shooting that made national headlines.

A search of Dick's Sporting Goods website early Tuesday morning showed a blank page for "modern sporting rifles."

The move comes after reports that investigators were trying to determine whether the gunman in the Newtown shooting, Adam Lanza, tried to buy a gun from a Dick's Sporting Goods store in the city of Danbury, about 12 miles away.

"At this time, reports that the suspect visited one of our stores last week have not been confirmed by law enforcement," the sporting goods store said in a statement. "Based on our records, we can confirm that no firearms were sold to the suspect identified in this case."


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SOURCE: CNNhttp://www.cnn.com/2012/12/18/justice/connecticut-dicks-guns/

 

[dabushwackers]

Nobody who hunts does not need a rifle that shoots more than 10 rounds same goes for handguns if your trying to protect your business or home. There should ban all assault weapons immediately they do not have a place in this modern day society. Also purpose new gun laws anybody carries guns into public areas schools courts malls etc automatically will be sentenced to 20 years in prison. When you purchase a gun you must also register it with your local municipalities. Anybody who has any mental conditions or have a history of taken medications for mental conditions should not be allowed to purchase or own a firearm. Background checks need to be stiffer. Gun trafficking should hold a conviction of 20 years per firearm that someone has in their possession on top of the local state laws that they break. If you are caught with an assault weapon you will get 20 years in prison along with hefty fines and the place of purchase will also face criminal charges and also be shutdown for selling them. If you are a homeowner and have a gun to protect your home or business you it will mandatory that you purchase a firearm safe to keep it away from other household members children etc for their safety. People with past criminal history or have felonies in possession of a firearm would face the biggest charges 30 years to life if it used to kill or in a crime.


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[QueEx]

Shares of gun maker tumble

Smith & Wesson reported this month that its revenue surged 48% in the three months that ended Oct. 31. The company also indicated that retail sales of its weapons were strong on Black Friday.

But, Stock prices of gun makers have tumbled on Wall Street amid a surge in discussion about gun control in the aftermath of the devastating shooting at a Connecticut elementary school last week.

Shares of Smith & Wesson Holding Corp. fell as much as 5% on Monday after sinking more than 4% on Friday – the day that Adam Lanza opened fire at Sandy Hook Elementary School, in Newtown, Conn., killing 26 people, including 20 children.

Sturm Ruger & Co., another firearm maker, saw its stock price fall nearly 3% on Monday after dropping more than 4% on Friday

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SOURCE

 

[QueEx]

Cerberus selling stake in maker of
gun used in Connecticut shootings

Under pressure from the stakeholder California State Teachers Retirement System, New York-based private equity firm Cerberus Capital Management said it’ll sell its investment in the Freedom Group, the holding company for the manufacturer of the gun used in the shootings at Sandy Hook Elementary School in Newtown, Conn.

Freedom Group is the umbrella company for Bushmaster Firearms International. A Bushmaster AR-15 rifle was carried by Adam Lanza in his shooting rampage that killed 20 children last Friday.

In a statement on Tuesday, Cerberus said it’s role is to make investments on behalf of its clients, including pension plans of firemen, teachers, policemen and other municipal workers and unions, endowments, and other institutions and individuals.

“It is not our role to take positions, or attempt to shape or influence the gun control policy debate,” Cerberus said. “That is the job of our federal and state legislators. There are, however, actions that we as a firm can take. Accordingly, we have determined to immediately engage in a formal process to sell our investment in Freedom Group.”

The move comes after a Reuters report that the California State Teachers’ Retirement Systems (Calstrs) said it was reviewing its investment in Cerberus.

“At this point our investment branch is examining the Cerberus investment to determine how best to move forward given the tragic events of last Friday in Newtown, Connecticut,” a spokesman for the public pension fund manager said in an email to Reuters.

Calstrs, which manages about $155 billion in assets, invested $751.4 million with Cerberus as of March 30, according to its disclosures.

Cerberus bought Bushmaster in 2006 and combined it with other weapons makers to form the Freedom Group, a unit that recorded sales of $677 million in the nine months ended Sept. 30.

Meanwhile, gun makers continue to be on Wall Street’s radar as talk of gun policy changes continue. Shares of Smith & Wesson SWHC -8.61% shares fell 5%, and Sturm Ruger & Co. RGR -5.43% fell back by 3.5% in Tuesday trades.

No word yet on any buyer for the Freedom Group.

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http://stream.marketwatch.com/story/markets/SS-4-4/SS-4-17790/