[JT]

Bushmaster has been bought out by Cerberus Capital Management, L.P.

"Cerberus Capital Management LP is large, politically-connected, privately-owned hedge fund. The firm is based in New York, NY and run by 45 year old financier Steve Feinberg. "

Things may be business as usual at Bushmaster, but the thought of them being owned by a NY based investment firm makes me nervous. How friendly are they going to remain to private ownership?

This type of firm specializes in buying companies, increasing their value, and selling them in a few years at a profit. Hopefully they will realize it is in their best financial interest to remain friendly to private gun owners.


http://www.bushmaster.com/documents/news/bushmaster_continues_to_grow_.asp

 

[BCurry1]

This could have some bad reprecussions(sp). I dont know about a large poltically connected new york based company. Hopefully they will just leave things alone and let them continue to produce a fine product!!

 

[srfl]

....stay tuned.

 

[gddyup]

I can envision people at Bushmaster going to their lockers to get their lifejackets on. Now that this has happened, it might be time to jump ship.....

Sad.

 

[Colin]

likely making copies of designs and drawings and keeping them at home.

 

[cmidkiff]

From some quick googling, Steve Feinberg, the guy that ownes Cerberus, seems like a good guy. The only firearm specific infromation I found about Mr. Feinberg was in a businessweek article, Here's the interesting bit...

To relax, he goes hunting, usually for pheasants and partridges on weekend trips to upstate New York with money-manager buddy T.K. Duggan. But last fall he raised the stakes by traveling to Colorado and scaling an 11,000-foot mountain in pursuit of bull elk.

http://en.wikipedia.org/wiki/Cerberus_Capital_Management

http://www.businessweek.com/magazine/content/05_40/b3953110.htm

Oh, and Dan Quayle is there spokesperson, he's on the council for the Citizens Committee for the Right to Keep and Bear Arms, and always had an 'A' rated by the NRA.

Don't jump to conclusions, there are good people in New York, they're just outnumbered

 

[JT]

I didn't jump to conclusions. I expressed concern. After all, Kerry was a "hunter". And when it comes down to it, you have to be concerned about what Steve Feinberg will put first. His beliefs on gun rights (which we don't know), or what he thinks is the best way to turn a profit. He did not get in the position he did (heading a major hedge fund), without making hard decisions when it comes to profits.

And I had read the part about Quayle, but it is hard to know what former politicians will do, when it comes to making money by lobbying for companies or countries. Just look at Bob Doyle.

 

[cmidkiff]

Didn't mean to be critical, just that from what I've seen so far, it doesn't look like a bad thing. Time will tell.

At least it appears that Steve Feinberg is a real hunter, rather than a polititician posing with a borrowed shotgun.

I'm sure they intend on making a profit... after all, that's what corporations do. I would think that keeping the good reputation of Bushmaster intact would be good business, no matter if they own it long term, or try to cash out in a few years. Let's hope the new owners see it that way.

 

[JT]

Didn't mean to be critical, just that from what I've seen so far, it doesn't look like a bad thing. Time will tell.

At least it appears that Steve Feinberg is a real hunter, rather than a polititician posing with a borrowed shotgun.

I'm sure they intend on making a profit... after all, that's what corporations do. I would think that keeping the good reputation of Bushmaster intact would be good business, no matter if they own it long term, or try to cash out in a few years. Let's hope the new owners see it that way.

I didn't take your post as being overly critical...I was just clarifying my position on the subject. I hope everything works out ok, and it just might. But we just don’t know how this will be handled, and we have been screwed by gun manufacturers in the past, so it is worrisome when an "outsider" buys out a company that has been very pro-2nd in the past. Hopefully they realize how important the private market is to their profitability.