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KYIV / UKRAINE - OCTOBER 16, 2016: Automatic rifle at an arms fair. Automatic weapons hung in neat rows on the white wall. There are visitors and falling shadows. Guns in cars with lots of car stock on white walls. Cartridges in
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This stock vector image can be scaled to any size. You can buy in high resolution up to 4293x4500. Posted on: November 13, 2016 All white, all middle-aged, all male. A few live a lavish lifestyle, but most stay under the radar. They are rarely reported in the mainstream media or even in the trade press. If we are talking about the largest manufacturers of auto parts or heating systems, their uncertainty is not so important. But these are America's finest gunsmiths, the leaders of the country's most controversial industry. They put their heads down and thumb their noses at rules designed to protect their businesses, particularly laws that hold gun companies accountable for crimes committed with their products.
He set out to overcome the uncertainty surrounding the $8 billion arms industry and the men who control it. The three major companies disclose some financial information, while the rest remain private. Some are further covered by private equity funds or shell companies based in offshore tax havens. We extracted production data and import statistics from the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF). We also reviewed obscure Treasury Department press clippings, court documents, private department reports, and tax records. Together, the 10 companies we studied produce more than 8 million firearms a year for U.S. buyers, accounting for two-thirds of the total market. (Neither company responded to our requests for more information.)
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Many of these companies' top executives wear the coat given to members of the Liberty Gold Ring, a private club that has donated more than $1 million to the National Rifle Association. Many have become the focus of criminal investigations and prosecutions for weapons trafficking, fraud, and everything from armed robbery and robbery.
As the debate over gun laws intensified, so did sales. In the year after the New York, Connecticut massacre, the top three gun manufacturers—Sturm Ruger, Remington Outdoor and Smith & Wesson—collected a record $390 million. Shares of publicly traded Sturm Ruger and Smith & Wesson are up more than 70 percent that year, benefiting institutional investors such as Vanguard, BlackRock and Fidelity. A hedge fund owned by Remington Outdoor, a Newtown-based used-gun maker, has seen annual returns increase tenfold.
And after the deadliest mass shooting in modern American history, the picture is different today. After the Orlando massacre, President Barack Obama once again mourned Sig Sauer assault rifles designed for US special operations forces, whose civilian sales have made Sig Sauer the fifth largest firearms manufacturer in the United States. American market. Shares of publicly traded Sturm Ruger and Smith & Wesson rose more than 6% on Monday (a day when the overall market average fell).
As a result, even as gun ownership in American households has fallen from one-half to one-third, gun owners are keeping them in record numbers. As the head of the investment firm put it: “Mr. "Obama is the best arms dealer on the planet."
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The late William Ruger, co-founder of Sturm Ruger, told Tom Brokaw Jr. in 1992, "No honest person needs more than 10 rounds in any rifle." Magazines or my folding stock. By 1994, Congress had banned high-capacity magazines and assault rifles, and even Ronald Reagan supported it. But a decade later, lawmakers, under pressure from the gun community, allowed the ban to expire. By then, Old Roger had died, and the Connecticut-based company had resumed civilian sales of 30-round magazines. Since 2007, the company has sold more guns in the United States than any other manufacturer.
As the business grew, Sturm Ruger CEO Michael Pfeiffer lobbied against Connecticut's ban on high-capacity magazines commonly used in the company's semi-automatic rifles. In early 2011, Phifer wrote to state lawmakers that "regulating magazine capacity will not deter crime and will instead put law-abiding citizens at risk." At the NRA's annual corporate executives luncheon the following year, Phifer presented the group with a check for $1.25 million—more than $1 for each Sturm Ruger rifle purchased the previous year. Eight months later, 20-year-old Adam Lanza used a semi-automatic rifle and a 30-round cartridge to kill 20 children and six adults at Sandy Hook Elementary School in Newton, 43 miles from the epicenter of Storm Roger.
In the year after the crash, Sturm Roger's profits increased by 56%. That year, Phifer's compensation exceeded $2.6 million. He sits on the board of the National Shooting Sports Foundation, a New York-based lobbying group led by former Sturm Ruger executive Steve Zanetti. Sturm Ruger's largest shareholders are mutual fund tycoon Vanguard Group and Virginia London Inc., which has $10.6 billion in assets including ammunition, tobacco, missiles and coffins.
Shortly after Newton, Stephen Feinberg, CEO of $29 billion private equity fund Cerberus Capital Management, pledged to sell Remington Outdoor, maker of the Bushmaster XM-15 used in the massacre. The company quickly said it would not find a buyer, but Remington's profits nearly tripled the next year, with the biggest increase in sales coming from automatics. The company attributed the increase to "consumer concerns about more government restrictions." With stakeholders such as the California Teachers Pension Fund facing liquidation threats, Cerberus has distanced itself from politics. Our role is to invest on behalf of our clients, the company says. "It's not our role to shape or influence the policy debate about taking positions or gun control."
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In May 2013, the National Security Agency included three Remington executives (CEO George Collits, Vice President Wally McClellan, and President Scott Blackwell) in the Gold Ring of Freedom, awarded to those who have given at least $1 million to the NRA. Colitis also served on the nominating committee that controls who sits on the NRA's board of directors. "It's easy to blame an inanimate object," Colitis said of the Bushmaster rifle used in Newton.
After New York passed stricter gun laws in 2013, Remington laid off workers at its 200-year-old factory there and moved to Huntsville, Alabama, with $69 million in state and local subsidies, or $69 million for every Alabama resident. Around $14. . . Joining Remington and NRA executives on the new factory tour was GOP Sen. Richard Shelby, who in 2005 up for re-election sponsored legislation to protect gun companies from liability. The NSA executive supported Shelby's campaign, as current Remington CEO Jim "Marco" Marcotuli (formerly Cerberus executive) stood by Shelby's side and smiled.
In August 2013, more than 150 Smith & Wesson employees attended a hearing with Massachusetts lawmakers to denounce the proposed gun ban. The following year, CEO James Debney, already a member of the NRA's Gold Ring, presented NRA Vice President Wayne LaPierre with an additional $600,000 check. "His various programs, pro-gun reform legislation and the presence of the NRA are critical to protecting the shooting sports and the entire firearms industry," Debney said.
America's third-largest arms maker has come a long way since it struck a deal with the Clinton administration in 2000. At the time, Smith & Wesson was exempt from product liability lawsuits in the United States.
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