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Andrew Ross Sorkin's column today in the New York Times business section concerns the Wall Street Group least likely to support an efforts to contain gun ownership and use: The Private Equity Industry.

Here follows a summary of Sorkin's list:

Cerebus Capital Management owns the Freedom Group the manufacturer of the .233 Bushmaster semiautomatic rifle used by the gunman in the Newtown Massacre which Sorkin describes as a "gun behemoth."  We at Kos already are aware of this because the California Teachers Pension Fund has already prevailed upon Cerebus to get sell the company.  

According to Sorkin, there are more:  

Colt Defense, a spinoff from the manufacturer of the .44-40 Colt revolver is "jointly owned by Sciens Capital Managment, a fund advised by the Blackstone Group and another fund run by Credit Suisse.

Midocean Partners, a private equity firm controls Bushnell Outdoor products.  Bushnell manufactures accessories for gun and rifle use, among others, a laser scope for semiautomatic handguns, military grade night vision goggles, a loader for an AK 47.

 Accoroding to Sorkin, one of it's subsidiaries sell the Hot Lips 10 Round Magazine, which is marketed this way,"Put 10 round through your 10/20 faster than the blaink of an eye, and reload with amazing ease."

Sorkin also has a discussion of the Private Equity frims long history of 8investing in "sin" firms.
The link to his article is http://dealbook.nytimes.com/...

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Comment Preferences

  •  Tip Jar (1+ / 0-)
    Recommended by:
    ssgbryan

    WE must hang together or we will all hang separately. B.Franklin

    by ruthhmiller on Tue Dec 18, 2012 at 04:07:49 PM PST

  •  asdf (1+ / 0-)
    Recommended by:
    gramofsam1
    Hot Lips 10 Round Magazine
    Says all that one needs to know about their target audience.

    Pathetic really - it would be funny if the consequences of their business practices weren't so deadly.

  •  Wall Street and Firearms (0+ / 0-)

    Is some loon were to stroll into the Stock Exchange and shoot up a bunch of traders, I guarantee you there would be gun control legislation the very next day.  

    But since they're making money off guns, I doubt that will happen when 20 kids get shot.  The Private Equity Industry will support gun manufacturers so long as they make money off them.  Being that gun sales are going through the roof, I highly doubt many will be selling their share in those companies any time soon.

    This is your world These are your people You can live for yourself today Or help build tomorrow for everyone -8.75, -8.00

    by DisNoir36 on Tue Dec 18, 2012 at 04:20:16 PM PST

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