Gun Business: GM IPO could open the door for Firearms IPO’s
General Motors has completed the initial filing of paperwork to begin its initial public offering. The auto company recently reported positive quarterly results and the IPO is expected to raise between $15 and $20 billion making it one of the largest IPO’s in history.
So what does this have to do with firearm IPO’s? GM’s pending IPO could be another signal of economic recovery and stability in a two-year stock market roller coaster. Generally, companies don’t initiate IPO’s in a rocky market because it tends to undervalue the IPO and generate less financing for the company. Thus a successful GM offering could be a strong signal for other company’s considering an IPO. Read more
United States Department of Education Buys Shotguns
WLS News7 in Chicago is reporting that the United States Department of Education is filling its arsenal:
“On Monday, the US Department of Education began soliciting bids, not for books or laptops, but for guns, Remington shotguns decked out with all the combat trimmings, such as short barrels for concealment and modified sights.”
So are schools locking and loading? According to the investigation, this isn’t exactly the case:
“In an e-mail, a spokesperson told the I-Team that their special agents work waste and fraud cases involving education funds and programs, and they have full law enforcement authority and training, and they sometimes conduct search warrants and make arrests.”
While we agree that law enforcement should have adequate arms, it isn’t interesting that the Department of Education spent $35,000 on guns that are described by some as being fitted with “combat trimmings.” The shotguns in question are high quality as well as powerful:
“According to the bid solicitation, the department is purchasing 27 Remington Model 870 pump-action shotguns with 14-inch modified choke barrels. They are custom-made for law enforcement and have shorter barrels than required for purchase by private citizens.”
Let’s hope none of those guns aren’t mentioned in a future “Who Guards the Guards” post by us.
