Pete Posted November 14, 2019 Share Posted November 14, 2019 About a mile up the street from here London (CNN Business)American Outdoor Brands has announced plans to split its firearms unit, Smith & Wesson, from its outdoor products business, citing "changes in the political climate." The firm said in a statement Wednesday that it would create two independent, publicly traded companies. The restructuring is expected to be completed in the second half of next year. Existing shareholders will receive stock in two companies: American Outdoor Brands, which will sell products including knives and fishing gear, and the guns business, Smith & Wesson Brands. "There have been significant changes in the political climate, as well as the economic, investing and insurance markets" since American Outdoor Brands began efforts to diversify away from guns, chairman Barry Monheit said in a statement. Shares in American Outdoor Brands (AOBC) have plummeted nearly 40% this year as US gun manufacturers face a backlash from consumers and investors over the use of their products in mass shootings. A rifle manufactured by American Outdoor Brands was used in a 2018 mass shooting that killed 17 people in Parkland, Florida. Read More Some consumers have boycotted Smith & Wesson products, denting sales. American Outdoor Brands has also been forced to defend its business practices against the likes of Blackrock (BLK), one of the world's biggest asset managers and a major shareholder in the company. The industry has also suffered a decline in sales prompted by the election of President Donald Trump, who is viewed as unlikely to support tighter restrictions on gun sales or ownership. Firearms accounted for more than 75% of American Outdoor Brands' revenue in the most recent quarter. <img alt="Supreme Court allows Sandy Hook families to sue Remington" class="media__image" src="//cdn.cnn.com/cnnnext/dam/assets/180326151837-remington-outdoor-brands-fabrica-armas-declara-bancarrota-rec-00000005-large-169.jpg"> Supreme Court allows Sandy Hook families to sue Remington Separating American Outdoor Brands into two companies will better enable each to deliver on its strategic and spending priorities, creating more value for shareholders, CEO James Debney said in a statement. Debney said the board had granted his request to lead the outdoor products business. Mark Smith, who currently leads the firearm manufacturing operations, would become CEO of Smith & Wesson Brands. The restructuring announcement comes one day after the US Supreme Court said it will not stop families of Sandy Hook victims from bringing a case against Remington Arms Co., the embattled manufacturer of the semi-automatic rifle that was used in the 2012 mass shooting at the elementary school. While a federal law protects gun manufacturers from wrongful death lawsuits brought by family members, the Sandy Hook families are seeking to hold Remington accountable for its marketing practices. The ruling opens the door to further cases against gun manufacturers. https://www.cnn.com/2019/11/14/business/smith-wesson-guns-american-outdoor/index.html Quote Link to comment Share on other sites More sharing options...
hayward Posted November 14, 2019 Share Posted November 14, 2019 people aren't buying guns right now because they already did buy them. These fucking things aren't disposable, you know. No one wears one out in a year or two, and needs to replace it. It was a fad, and the fad has run it's course. They've moved on to the newest thing now, and guns ain't it, at the moment. Quote Link to comment Share on other sites More sharing options...
Zambroski Posted November 14, 2019 Share Posted November 14, 2019 1 minute ago, hayward said: people aren't buying guns right now because they already did buy them. These fucking things aren't disposable, you know. No one wears one out in a year or two, and needs to replace it. It was a fad, and the fad has run it's course. They've moved on to the newest thing now, and guns ain't it, at the moment. Yep, market saturation is taking its toll on these manus. After we all have a half dozen or so, we’re all good! Quote Link to comment Share on other sites More sharing options...
hayward Posted November 14, 2019 Share Posted November 14, 2019 10 minutes ago, Zambroski said: Yep, market saturation is taking its toll on these manus. After we all have a half dozen or so, we’re all good! but CNN says politics is changing.... maybe, but i'm betting it has fuck-all to do with the lack of gun sales. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted November 14, 2019 Platinum Contributing Member Share Posted November 14, 2019 14 minutes ago, hayward said: people aren't buying guns right now because they already did buy them. These fucking things aren't disposable, you know. No one wears one out in a year or two, and needs to replace it. It was a fad, and the fad has run it's course. They've moved on to the newest thing now, and guns ain't it, at the moment. Put a dem in the white house with some talk about gun control and the things will be selling like hotcakes again. 1 Quote Link to comment Share on other sites More sharing options...
Sleepr2 Posted November 14, 2019 Share Posted November 14, 2019 5 minutes ago, hayward said: but CNN says politics is changing.... maybe, but i'm betting it has fuck-all to do with the lack of gun sales. I think the split has more to do with litigation making the manufacture responsible for,the actions of gangbangers and thugs. Quote Link to comment Share on other sites More sharing options...
MILFMAN Posted November 14, 2019 Share Posted November 14, 2019 18 minutes ago, Zambroski said: Yep, market saturation is taking its toll on these manus. After we all have a half dozen or so, we’re all good! Are you kidding me? I couldn't imagine only having 6. My 14 year old has that many... 1 Quote Link to comment Share on other sites More sharing options...
hayward Posted November 14, 2019 Share Posted November 14, 2019 6 minutes ago, Sleepr2 said: I think the split has more to do with litigation making the manufacture responsible for,the actions of gangbangers and thugs. manuf. covering their asses. Can't blame em for that, especially in a society like ours where god-forbid someone would practice personal responsibility for their own actions. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted November 14, 2019 Platinum Contributing Member Share Posted November 14, 2019 Yep , split the companies then make the gun one look broke. Quote Link to comment Share on other sites More sharing options...
Sleepr2 Posted November 14, 2019 Share Posted November 14, 2019 14 minutes ago, hayward said: manuf. covering their asses. Can't blame em for that, especially in a society like ours where god-forbid someone would practice personal responsibility for their own actions. 1 minute ago, steve from amherst said: Yep , split the companies then make the gun one look broke. Yup. Quote Link to comment Share on other sites More sharing options...
Zambroski Posted November 14, 2019 Share Posted November 14, 2019 1 hour ago, hayward said: but CNN says politics is changing.... maybe, but i'm betting it has fuck-all to do with the lack of gun sales. CNN is for complete imbeciles. 1 hour ago, steve from amherst said: Put a dem in the white house with some talk about gun control and the things will be selling like hotcakes again. Obama was one helluva gun salesman. Holy shit!!! 1 hour ago, MILFMAN said: Are you kidding me? I couldn't imagine only having 6. My 14 year old has that many... 2 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted November 14, 2019 Platinum Contributing Member Share Posted November 14, 2019 (edited) 4 hours ago, Sleepr2 said: I think the split has more to do with litigation making the manufacture responsible for,the actions of gangbangers and thugs. ^^^This^^^ Roberts is a wildcard. Edited November 14, 2019 by Highmark Quote Link to comment Share on other sites More sharing options...
Anler Posted November 14, 2019 Share Posted November 14, 2019 4 hours ago, hayward said: people aren't buying guns right now because they already did buy them. These fucking things aren't disposable, you know. No one wears one out in a year or two, and needs to replace it. It was a fad, and the fad has run it's course. They've moved on to the newest thing now, and guns ain't it, at the moment. Thanks Obama! Quote Link to comment Share on other sites More sharing options...
hayward Posted November 14, 2019 Share Posted November 14, 2019 1 hour ago, Anler said: Thanks Obama! precisely Quote Link to comment Share on other sites More sharing options...
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