View Full Version : Several firearms retailers suspend sales
I just read where Cheaper than dirt and dick's are suffering from restless leg syndrome (knee-jerking). CTD has suspended all firearm sales online, and Dick's has removed "Certain semi-automatic firearms" from the shelves.
Dick's suspension (http://www.usatoday.com/story/money/business/2012/12/18/cerberus-freedom-group-bushmaster/1776997/)
Cheaper than dirt antics (http://www.thetruthaboutguns.com/2012/12/foghorn/breaking-cheaperthandirt-suspends-all-firearm-sales/)
These are just a couple of the reactions so far. I read somewhere where Cerberus capital is selling their stake in Freedom Group as well. Several gun shops in my AO have SOLD OUT of AR's to a greater extent than the 2008 and 2012 election sales combined! :eek: Get 'em while they're hot folks :munchin
Ret10Echo
12-18-2012, 13:48
From the Cerberus Press release:
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. We will retain a financial advisor to design and execute a process to sell our interests in Freedom Group, and we will then return that capital to our investors. We believe that this decision allows us to meet our obligations to the investors whose interests we are entrusted to protect without being drawn into the national debate that is more properly pursued by those with the formal charter and public responsibility to do so.
SomethingWitty
12-18-2012, 21:42
I am not too sad to see Cerebus go. Remington/DPMS/Bushmaster quality has left something to be desired.
Streck-Fu
12-19-2012, 08:22
Others will be happy to absorb their business.
Now the question stands. Will the Freedom Groups holdings be sold off as a whole, or like so many toy manufacturers state on their products "_____ sold seperately"?
DJ Urbanovsky
12-19-2012, 11:07
Don't let the door hit ya where the good lord split ya.
From the Cerberus Press release:
Money talks, especially progs with cash:
Cerberus Capital Management LP, the New York-based investment firm that owns the largest U.S. gunmaker, will put the company up for sale, acting four days after one of its rifles was used in the Connecticut school shootings that left 26 people dead, including 20 six- and seven- year-olds.
Cerberus said it will seek to sell Freedom Group Inc. just hours after California Treasurer Bill Lockyer said he’ll propose that the state’s public pension funds, the two largest in the U.S., divest investments in firearm manufacturers that make guns prohibited under state law. The firm’s announcement followed a day in which the White House reiterated President Barack Obama’s support for a new ban on assault weapons and lawmakers called for stricter gun-control laws.
...
Calsters Review
“Our role is to make investments on behalf of our clients who are comprised of the pension plans of firemen, teachers, policemen and other municipal workers and unions, endowments, and other institutions and individuals,” Cerberus said in the statement. “It is not our role to take positions, or attempt to shape or influence the gun-control policy debate. That is the job of our federal and state legislators.”
The California State Teachers’ Retirement System, which has $751 million overseen by Cerberus, said today it’s reviewing its $600 million investment in two Cerberus funds that are invested in Freedom Group. Calsters, with $155 billion in assets as of Oct. 31, is the second-largest U.S. pension fund. The largest is the California Public Employees’ Retirement System, with $241 billion.
Calsters “has established a thorough vetting process for potential investments that seeks to test not only their financial potential, but their social, human and environmental impacts as well,” the system said in a statement. “Moving forward, CalSTRS will work to ensure that all of our investments are taking these very important criteria into consideration.”
...
New York
The New York State Common Retirement Fund, which manages $150 billion, is also reviewing its investments in gunmakers, according to Eric Sumberg, a spokesman for State Comptroller Thomas DiNapoli.
“As investors, we support Cerberus Capital Management for taking action today to sell its stake in the Freedom Group,” Sumberg said today in an e-mail.
New York City pension funds are reconsidering about $18 million in the stocks of Smith & Wesson, Sturm Ruger and two other companies whose businesses include gun manufacturing.
“We are currently conducting a review of our holdings and aggressively exploring all options, including divestment,” Matthew Sweeney, a spokesman for Comptroller John C. Liu, said in an e-mailed statement.
http://www.bloomberg.com/news/2012-12-18/cerberus-outlay-reviewed-by-pension-after-school-massacre.html
Ret10Echo
12-19-2012, 13:43
Good for them... divest of those stocks... What's that thing Forest Gump used to say?
As of 14:40 Eastern
Sturm Ruger & Company Inc (NYSE: RGR) 43.36 Up +2.76 +6.80%
Freedom Group, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2012. For the quarter, the company reported net sales of $237.9 million compared to $198 million a year ago. Operating income was $33.5 million compared to $18.5 million a year ago. Income before income taxes and noncontrolling interests was $20.1 million compared to $2.2 million a year ago. Net income attributable to controlling interest was $16.1 million or $94.48 per diluted share compared to $2.4 million or $10.43 per diluted share a year ago. Adjusted EBITDA was $42.7 million compared to $31.7 million a year ago. For the nine months, the company reported net sales of $677.3 million compared to $564.6 million a year ago.
What an empty gesture. Just like Hollywood stopping the opening of a violent film. Do they think the parents of the dead kids give a fuck right now
Ghost_Team
12-19-2012, 18:47
Just got an email from Cheaper than Dirt saying they were resuming online gun sales. The email said they were overwhelmed with orders, and it's currently taking 72 hours for an order to be shipped on pretty much anything.
Glad I got all my good stuff already... while prices were somewhat reasonable. Watch the mag prices go through the roof again. I lucked out during the first Obama election and got all the parts kits I ordered before they went through the roof and out of stock.
I think things are going to get much, much worse before we see daylight again.
Hey to all, take a look at Cheaper than Dirt, Sportsmans Guide, Midwest USA.... All of them have almost no bulk ammo...out of stock or back ordered....Prices are gonna go up.... Stock market be damned...buy ammo and guns, I say... :)
Going to the Dulles Expo VA. Gun Show on Dec 29th I am sure it will be a zoo with lots of media...if nothing else it will be something to see......wish me luck. CSM-H
Utah Bob
12-20-2012, 08:36
E mail from ctd.
Cheaper Than Dirt! will Resume Online Firearm Sales Pending Policy Changes
Cheaper Than Dirt! recently announced that it was temporarily suspending online sales of firearms pending a review of its order processing and procedures. Well-known for its ability to process and ship orders within 24 hours, online sales have skyrocketed to a point where it may take up to 72 hours for firearms and other items to ship.
"In light of recent events, we believe it is prudent to review our policies and procedures to ensure we can continue to provide the products and firearms our customers demand," said Chief Operations Officer Roberta Wilson. "We will resume online sales once we update our process and continue as we have always done by shipping firearms only to FFL dealers."
Ms. Wilson closed with, "As a long-time supporter of the Second Amendment, we will continue to serve the needs of the firearms community while ensuring our unsurpassed level of quality and customer service."
mark46th
12-20-2012, 11:49
"Cheaper Than Dirt! will Resume Online Firearm Sales Pending Policy Changes"
"Ammo supplies "Back ordered/Out of Stock"
Once again, money talks, Bull Sxxt walks...
Team Sergeant
12-20-2012, 18:44
Hey to all, take a look at Cheaper than Dirt, Sportsmans Guide, Midwest USA.... All of them have almost no bulk ammo...out of stock or back ordered....Prices are gonna go up.... Stock market be damned...buy ammo and guns, I say... :)
Going to the Dulles Expo VA. Gun Show on Dec 29th I am sure it will be a zoo with lots of media...if nothing else it will be something to see......wish me luck. CSM-H
I have cases and cases of Black Hills 5.56, maybe I should now "sell"? ;)
Masochist
12-20-2012, 18:52
This still doesn't excuse them raising prices on single PMAGs to $60+ shortly after that statement. I remember CTD doing the same price gouging shortly after the '08 election.
Their website now lists no price and states they are out of stock.
ZonieDiver
12-20-2012, 22:04
This still doesn't excuse them raising prices on single PMAGs to $60+ shortly after that statement. I remember CTD doing the same price gouging shortly after the '08 election.
Their website now lists no price and states they are out of stock.
You're opposed to free market economics? :D
frostfire
12-21-2012, 05:21
can't believe how many firearm, ammo, etc online stores are putting "order volume is at never before seen levels" disclaimer on their websites:D. Paul Howe is correct. The CIC is the most successful firearm seller in US presidential history:D
can't believe how many firearm, ammo, etc online stores are putting "order volume is at never before seen levels" disclaimer on their websites
TO OUR CUSTOMERS,
We want to thank you for your business. Due to high demand, we are behind in shipping. If you have ordered on line or over the phone and the items were in stock, you will get your order. Our current delay is about 15-24 days depending on the item ordered. The items are in stock and reserved for you. If you wish to cancel your order, please email your cancellation to wideners@wideners.com and your order will be cancelled and your credit card will be refunded for the entire amount. We regret the delay.
Went to three gunshops yesterday. All three had empty racks where the semi-auto weapons were stacked. Pistol cases were scant also. Each one had a clerk on the phone eplaining to potential customers that incoming orders were almost non existent.
In this area components are almost impossible to find.
Destrier
12-21-2012, 06:49
I can hear it now...
in a week or so he will claim he is stimulating job growth.
IMHO it is a BS move. They are waiting for the proces to skyrocket to pad their wallet.
Business 101 would call that a SB (Smart Business) move.
frostfire
12-21-2012, 13:23
Business 101 would call that a SB (Smart Business) move.
yep, price gouging is rampant here...sig516 for $3k:eek: magpul mag for $30+:eek: and they fly right out of the shelves too! Are we really this nut?
yep, price gouging is rampant here...sig516 for $3k:eek: magpul mag for $30+:eek: and they fly right out of the shelves too! Are we really this nut?
Capitalism
Free Market System
Supply and Demand
Maximizing Profits
ROI
I would recommend that you never attempt to start your own business.
yep, price gouging is rampant here...sig516 for $3k:eek: magpul mag for $30+:eek: and they fly right out of the shelves too! Are we really this nut?
Has it not been said here and other BBs, time and time again, to "stock up", "buy now", "get 'em while they're cheap" ???
Those that are buying in the above post, are getting them before they're gone (ie ... illegal to buy). There has been a ban before, and the recent event in CT might just bring that ban back. Whose to say. It very well may come back. If that be the case, are they really nuts for buying now?
$0.02
Capitalism
Free Market System
Supply and Demand
Maximizing Profits
ROI
BINGO !!!!
The Reaper
12-21-2012, 17:52
I ordered Magpuls and Springfield standard (non-reduced) capacity mags on Monday from Brownells and Midway, both were on sale and in stock, shipped quickly and came in today.
Those paying too much now should have worked and spent the extra money they are paying now to get the POTUS out of office.
Or seen the handwriting on the wall and ordered as soon as it was clear the Dims intended to make political points off this tragedy.
And why would somone who has these items and may not get any more sell them for the same price as before? If people are paying the price asked and quickly buying all that are offered, how can the price be excessive?
TR
Those paying too much now should have worked and spent the extra money they are paying now to get the POTUS out of office.
Or seen the handwriting on the wall ...
Yup, exactly. I actually bought most of everything I wanted/felt I needed during his first 4 years after the prices returned to normal. I had two items that I had been posponing, but ordered them when I knew things were going badly for the Republicants. If he gets to appoint new SCOTUS Judges, we are truly hosed for a long time.
Those who were Boy Scouts think ahead and remember the motto.
SomethingWitty
12-23-2012, 00:50
There is an outfit selling "ASSHOLE PROOFED P-Mags" for $40, and then donating the extra profit to the NRA or SOWF.
TO OUR LOYAL SKD CUSTOMERS: These mags will not be made available at our normal price so they can be flipped to take advantage of the current buying frenzy. Nor will we be profiteering off of this current panic like some vendors in our community. In order to make these mags "ASSHOLE-PROOF", we will sell them at or near current market pricing, and donate the difference from our normal price to either the National Rifle Association or the Special Operations Warrior Foundation. If you take issue with this move on our part, please do not write, email, or call to complain- we will not respond. Just take a deep breath, do a little yoga, and channel your energy into doing something productive.
Went in yesterday in Germantown MD. rack were about half empty AND the order catalog had little yellow stickies on anything resembling a M4/Offensive shotgun etc... and almost forgot a six box limit on ammo sales.... Just thought I'd pass it on... CSM-H
I ordered Magpuls and Springfield standard (non-reduced) capacity mags on Monday from Brownells and Midway, both were on sale and in stock, shipped quickly and came in today.
You must have been a part of this epicness --> LINK (http://www.huffingtonpost.com/2012/12/23/worlds-largest-firearms-supplier-sells-3-half-years-worth-ar15-clips-3-days_n_2356286.html) ;)
Brownell's says they sold 3.5 years of AR-15 mags in 3 days! The best part is getting to read it on Huff Post.
tom kelly
12-23-2012, 21:55
NEVER SHOP FOR ANYTHING THERE. HOPE THEY GO OUT OF BUSINESS....TK
500 Proof
12-24-2012, 03:18
edit
What kind of sheep(dog) is behind that curtain? :munchin
Utah Bob
12-25-2012, 18:56
A friend of mine bought a 10 pack of Magpuls last month. He sold 2of them yesterday for $400!:eek:
Streck-Fu
01-16-2013, 13:27
I will let these images speak for themselves.