(Image source: Restless Adventurer)

BY KERRY LEARY

ANCHOR NEVILLE MILLER

The gun control debate surfaced once again in the wake of the Newtown, Connecticut shooting. But there is also news about the weapon believed to be used in the massacre — private equity firm Cerberus plans to sell its stake in firearms maker, Freedom Group. Here’s CNBC.


“It’s reconsidering its relationship with Cerberus. The reason being, Cerburus’ ownership of the Freedom Group,  the country’s largest gun manufacturer, second largest ammunitions maker and the maker of the assault rifle used in Friday's Newtown massacre.”

According to the BBC, the firm released a statement noting the decision to sell its stake is to protect investors without being drawn into the debate. The company also noted no single company or individual can prevent senseless violence.

The firm said it is shocked and deeply saddened by the shootings. CNN reports sporting goods stores closest to Newtown are stopping gun sales. In addition,

“You look on Walmart’s website and they’re no longer advertising Walmart is no longer selling the Bushmaster AR-15, yes that’s the one used in the Newtown shooting but the retailer says you can buy it at select locations.”

Many believe retailers are trying to distance themselves from the tragedy. However, Bloomberg reports, the private equity firm has a connection to Newtown.

“The father of Stephen Feinberg, the founder and chief executive of Cerberus Capital Management LP, the hedge fund and private-equity firm that said it will sell gunmaker Freedom Group Inc., lives in the town where a Freedom Group-manufactured rifle was used to kill 26 people.”

It is still unclear as to why the assault rifle was present in the Lanza home before the massacre occurred.
 

Cerberus Selling Bushmaster AR-15 Gunmaker

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Dec 18, 2012

Cerberus Selling Bushmaster AR-15 Gunmaker

(Image source: Restless Adventurer)

BY KERRY LEARY

ANCHOR NEVILLE MILLER

The gun control debate surfaced once again in the wake of the Newtown, Connecticut shooting. But there is also news about the weapon believed to be used in the massacre — private equity firm Cerberus plans to sell its stake in firearms maker, Freedom Group. Here’s CNBC.


“It’s reconsidering its relationship with Cerberus. The reason being, Cerburus’ ownership of the Freedom Group,  the country’s largest gun manufacturer, second largest ammunitions maker and the maker of the assault rifle used in Friday's Newtown massacre.”

According to the BBC, the firm released a statement noting the decision to sell its stake is to protect investors without being drawn into the debate. The company also noted no single company or individual can prevent senseless violence.

The firm said it is shocked and deeply saddened by the shootings. CNN reports sporting goods stores closest to Newtown are stopping gun sales. In addition,

“You look on Walmart’s website and they’re no longer advertising Walmart is no longer selling the Bushmaster AR-15, yes that’s the one used in the Newtown shooting but the retailer says you can buy it at select locations.”

Many believe retailers are trying to distance themselves from the tragedy. However, Bloomberg reports, the private equity firm has a connection to Newtown.

“The father of Stephen Feinberg, the founder and chief executive of Cerberus Capital Management LP, the hedge fund and private-equity firm that said it will sell gunmaker Freedom Group Inc., lives in the town where a Freedom Group-manufactured rifle was used to kill 26 people.”

It is still unclear as to why the assault rifle was present in the Lanza home before the massacre occurred.
 

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