While Congress wrestles with defusing the timebomb created by the Smith & Wesson Sellout, the British-owned gun maker that brokered the landmark cave-in to anti-gun extremists continues to make news. Recent reports that S&W was forced to close two manufacturing plants for the month of July (see FAX Alert Vol. 7, No. 24) have led many to speculate that the gun maker is facing serious financial hardship due to the negative reaction from potential customers who feel S&W has been colluding with enemies of the Second Amendment. Perhaps in an attempt to bolster its sagging bottom line, S&W recently unveiled a new "Summer Savings Promotion," offering customers a $50 rebate on every new S&W handgun they buy between July 15 and August 31. To motivate the sales staff of its stocking dealers, S&W is dangling a $10 cash bonus for every gun they sell, and there lies the rub. Quoting from a S&W letter to its dealers: "Sales Personnel will need to keep track of their sales on the attached claim form. All requested information must be completed. They will also need to attach a copy of the ATF Form 4473 for each sale." (Emphasis added) Fair warning -- this is the same company that agreed to furnish the Clinton-Gore Administration "full access to any documents related to the acquisition and disposition of firearms," as one of the terms of its surrender. Even if this promotion fails to revive what seems to be a company that is rapidly losing potential customers, the parent company is probably not too worried. Tomkins PLC, the British corporation that owns S&W, is looking to get rid of the beleaguered gun manufacturer. According to the Wall Street Journal Online, Tomkins' chief executive Greg Hutchings confirmed that S&W was up for sale, although he said no potential buyers had been contacted.
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