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javalos
05-19-2009, 3:05 PM
This was sent to me by a friend, I went to the Smith & Wesson website, but saw nothing mention, so far as I'm concerned, its a rumor, but can anyone verify this?

Gov’t Attempting to Seize Smith & Wesson
Written by Ed on May 14, 2009 – 10:05 pm -

Thursday, April 30, 2009
Gov’t Attempting to Seize Smith & Wesson
http://www.ourlighterside.com/2009/05/14/govt-attempting-to-seize-smith-wesson/

Seemingly in line with other corporate seizures, the United States government appears to be attempting to gain a majority stake in prominent firearms company Smith & Wesson.

Smith & Wesson, one of the oldest weapons company in the United States, is currently on sound economic footing. However, a clause in the 2009 Stimulus Bill calls for the federal government to seize industries and companies that are essential to the economy or ‘government function.’

The Treasury Department contacted the company in March 2009, asking to buy shares at $10 above market price. However, this offer was sharply rebuffed. Similar offers have been made to Remington.

After this rejection, the Treasury Department has declared that it will use mechanisms in the Stimulus Bill in order to override the corporate decision. Smith & Wesson’s board of executives have also been informed that this decision by the Treasury Department could not be appealed to any superior court.

bwiese
05-19-2009, 3:08 PM
Judging by the name in the link, and the fact gov't employees doesn't like functional profitable companies, I think not.

berto
05-19-2009, 3:14 PM
Only in the blosphere.

Vacaville
05-19-2009, 3:16 PM
I call FUD. Nut-job claiming the government is going to take over healthy private companies purely for the sake of socialization. Not in this economy, and not without a very public fight. :fud:

yellowfin
05-19-2009, 3:45 PM
I call FUD. Nut-job claiming the government is going to take over healthy private companies purely for the sake of socialization. Not in this economy, and not without a very public fight. :fud: Or not until they've taken over enough other companies to where the public is too used to it and/or the 2010 election has passed.

TheBundo
05-19-2009, 3:49 PM
If it's on the internet (and written by "Ed"), it has to be true