"So the group that caved to the lawsuits isn't in charge or profiting from sales anymore."
Except that when Saf-T-Hammer bought Smith & Wesson, they also bought the agreement, lock, stock, and barrel.
And, in the what, 5 years that they've owned the company, they've not lifted a finger to get out from under the agreement despite having a government far more inclined to do so than the Clinton administration.
Yes, Saf-T-Hammer is to be lauded for it's "Head In the Sand AND Up the ass at the same time" Award.
The agreement is dormant, not dead.
"Apparently (and this is the part I don't know the accuracy of) the parent co would have had to post ~$1 million bond for each lawsuit filed against it because they aren't located in the states. And there were dozens of lawsuits."
In the 7+ years since the agreement was signed, this is the FIRST time I've ever heard that claim. Simply put, I don't buy it.
Couple of reasons.
First, a $1 million bond has an actual cash purchase value of FAR less than that. You don't have to plop $1 million in cash into an escrow account.
Second, S&W had millions in tangible assets (buildings, stock, cyclical inventory, machinery, etc.) that would be more than enough collateral to secure bonds.
I've talked to quite a few company reps over the years for a wide variety of companies. On the whole, they know their products in and out, but they generally don't know crap about the companies for which they work.
I can't tell you how many piles of made up hooey I had to step over when I was working for American Rifleman and talking to reps on a regular basis. As often as not I was telling them what was going on with their companies simply because they didn't read their own damned press releases.
