Author Topic: S&W in trouble (Read 855 times)

LONGTOM · « **on:** January 20, 2010, 02:47:09 AM »

My dad saw just a blip of this on one of the stock market report channels yesterday.

A top S&W employee along with 21 others were indited in US COURT of violating the 1977 Foreign Corrupt Practices ACT.
He said it did give the name of the S&W top employee but he didn't recall what his name was.

A small article in the local paper this morning stated that they tried to bribe a foreign official in the defense ministry of a country in AFRICA in order to win a multi-million $ contract to supply the defense guard.
The paper did not name any names or any company.

Has anyone heard anything on this?

LONGTOM

Questor · « **Reply #1 on:** January 20, 2010, 04:35:21 AM »

I'll have to read the whole thing later, but in some countries bribery is a necessary way of doing business. It will be interesting to know the details.

http://www.foxbusiness.com/story/markets/smith--wesson-vp-charged-federal-bribery-scheme/

OR-E-Gun Bill · « **Reply #2 on:** January 20, 2010, 04:49:39 AM »

Here's the statement from the FBI website.

http://washingtondc.fbi.gov/dojpressrel/pressrel10/wfo011910.htm

No companies named, only individuals.

I believe this one is from Smith & Wesson:
"Amaro Goncalves, 49, the vice president of sales for a Springfield, Mass., company that designs and manufactures firearms, firearm safety/security products, rifles, firearms systems and accessories;"

Bill

rex6666 · « **Reply #3 on:** January 20, 2010, 05:32:03 AM »

Quote from: Questor on January 20, 2010, 04:35:21 AM

I'll have to read the whole thing later, but in some countries bribery is a necessary way of doing business. It will be interesting to know the details.

http://www.foxbusiness.com/story/markets/smith--wesson-vp-charged-federal-bribery-scheme/

+1
Mexico comes to mind, don't know much about African countries but suspect
most of them have a hand out.

SHOOTALL · « **Reply #4 on:** January 20, 2010, 05:38:26 AM »

Seems that's how you get votes for support of healthcare here also.

rio grande · « **Reply #5 on:** January 20, 2010, 07:09:21 AM »

I think they should be indicted for putting those worse than worthless 'safeties' on their revolvers!

Questor · « **Reply #6 on:** January 20, 2010, 07:28:19 AM »

What's wrong with the safeties? My S&Ws pre-date them. Is it like the Taurus "unlock the safety and throw the key away" safety?

MGMorden · « **Reply #7 on:** January 20, 2010, 07:47:39 AM »

Quote from: Questor on January 20, 2010, 07:28:19 AM

What's wrong with the safeties? My S&Ws pre-date them. Is it like the Taurus "unlock the safety and throw the key away" safety?

Sometimes that ain't good if it's poorly designed. I have a newer Remington 870 with a locking safety. I tossed the key long ago. A few years later I got bored while out hunting though and ran a "test" on that safety. Apparently, ANYTHING will turn that thing to lock. Once it clicks locked though, that "anything" you used to turn it to locked won't turn it back. Long story short, I was able to lock the safety just fine with a tiny screwdriver to turn it, but then I had to fully disassemble the thing to get the safety turned back off.

While it's somewhat unlikely that the safety will turn to the locked position over a period of time, it's not out of the realm of possibility. It should have just been left off.

Hopefully this won't drive S&W under though. We have too few gun companies in the US as it is.

williamlayton · « **Reply #8 on:** January 20, 2010, 12:50:32 PM »

I wish to hell I could get in on some of this bribery stuff---heck, I bribe cheap.

Blessings

1marty · « **Reply #9 on:** January 20, 2010, 03:34:28 PM »

That's the way business is done overseas and for that matter many ways here too.

Dee · « **Reply #10 on:** January 20, 2010, 04:19:13 PM »

I hope the Feds put Smith and Wesson out of business. They deserve to be brought down for puttin those stupid safeties on their revolvers, and makin us all look stupid. Just because their hardly even noticeable, are easily disabled, and don't affect the operation, and don't even have to be used, is no excuse. They should be run out the business, and then everyone can buy those great Taurus revolvers. Hell, maybe even Rossi can make some look a like Smiths like they do Winchesters.
Then every one can stop whinnin about a non-event safety that doesn't even have to be used. And they can send their dollars to Italy and Brazil. Then we won't have anything American made except over priced Colts. Yea, that's the ticket.

BENJAMIN FRANKLIN WAS RIGHT!

SHOOTALL · « **Reply #11 on:** January 21, 2010, 02:16:13 AM »

What was the problem ? none of the bribe money was issued local ?

LONGTOM · « **Reply #12 on:** January 21, 2010, 02:46:45 AM »

According to the newspaper article they violated the 1977 Foreign Corrupt Practices ACT.
In other words it is illegal to try and bribe a foreign official.

I guess you can only bribe the ones here in the US!!!

LONGTOM

buffgun · « **Reply #13 on:** January 21, 2010, 03:02:58 AM »

Quote from: williamlayton on January 20, 2010, 12:50:32 PM

I wish to hell I could get in on some of this bribery stuff---heck, I bribe cheap.

Blessings

i cant be bribed ! but i can be tricked

Dee · « **Reply #14 on:** January 21, 2010, 03:07:49 AM »

That about the size of it. Instead of criticizing Smith and Wesson over a "non-event" safety, everyone should recognize that the real enemy is the government whom is trying to put Smith out of business. Like the safety or not, the new design was not cheap, it works, and it was an effort on the part of AN "AMERICAN GUN MANUFACTURERER" TRYING TO STAY IN BUSINESS "HERE".
We should be supporting them, not taking shots at them like the government is. The government is trying to destroy them. When they do, you will wish you still had Smith and Wesson back, but they like Winchester will be gone for good.

blind ear · « **Reply #15 on:** January 21, 2010, 03:40:45 AM »

With all the consolidation in the gun industry and the demize of manufacturers this one puts more than a little fear in me. With one "government agreement" large segments of the firearms industry can be legislated out of exsistance.

If you ever contact a represenative about a problem this is a good time. Make them make a statement. They will probably identify it as "illegal activity" that they can't touch. Do they want to? Where do they stand?

What have the gun rights organizations said and what do they reccomend?

This one scares me like a I said. The government is useing this "law" to cripple the citizens freedoms indirrectly. It is just a foreshadow of how the "Homeland Security Laws" will be used in the future to take freedoms and incarcirate citizens.

eddiegjr

LONGTOM · « **Reply #16 on:** January 21, 2010, 05:42:48 AM »

No, it is just a simple case of a company or persons trying to cheat/bribe someone else in order to gain an advantage over other companies in order to win a very lucrative arms contract for the benefit of themselves.
Just the same as what our government does everyday in order to get the things they want.
Nebraska, Louisiana, the Unions, you get the picture.
Like I said, "I guess you can only bribe the ones here in the US!!!"
If it was our government doing this same thing,(which they do on a regular basis) nothing would have been said and nothing would come of it.
They are just as guilty of this as S&W will be if it is proven to be true.
Man, what a corrupt world we live in!
If I tried to run my business as they do I would be bankrupt in a mater of months.
Just goes to show that you have to be a pretty big fish to survive in a really big pond.

LONGTOM

blind ear · « **Reply #17 on:** January 21, 2010, 05:55:03 AM »

longtom, yep, that is what scares me. We have given up believeing we can make a difference. eddiegjr

Dee · « **Reply #18 on:** January 21, 2010, 12:38:00 PM »

Being a little fish, I tend to stay in the weeds and brush, where the bigguns can't get at me.