Category: Business

Taurus Fires US CEO Mark Kresser

Ex-Taurus CEO Mark Kresser (courtesy The Truth About Guns)

“Taurus International Manufacturing, the US division of Forjas Taurus [has] fired multi-year CEO Mark Kresser,” gunnuts.net reports. “Based on the information received, Mark’s firing was a sudden change for a company that had been attempting to re-invent its image under his leadership in the past several years.” Last week, Brazilian ammo maker CBC/Magtech upped their stake in Taurus, purchasing a controlling interest. No doubt Kresser’s departure is tied to the takeover. TTAG’s sorry to see him go . . .

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Smith & Wesson Settles Foreign Bribery Charges for $2M

National Rifle Association Holds Annual Meeting In St. Louis

Firearms manufacturer Smith & Wesson has agreed to pay $2 million to settle U.S. government charges over bribes the company allegedly paid out to foreign officials between 2007 and 2010.” So reports fortune.com. The payment stems from accusations that Smith reps bribed military and police brass in India and Pakistan as long ago as 2007. “Smith & Wesson’s alleged actions violated the Foreign Corrupt Practices Act (FCPA), the SEC said Monday, adding that the company ‘profited by more than $100,000′ from the one contract to be completed before the authorities caught wind of the activities.” While admitting no wrongdoing, Smith’s canned its entire foreign sales staff so draw your own conclusions. 

Shooting Illustrated on Their Remington R51 Review: Oops

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Shooting Illustrated had been pimping the Remington R51 hard. They put it on their cover, they gave it a glowing review, and even after a plethora of negative reviews of the firearm started coming out they issued a full-throated defense of their actions and conclusions. As I noted, this situation is the clearest illustration of the lack of integrity among dead tree publications. But there’s now a problem: even Remington admits the R51 was a debacle. In light of that new development, Shooting Illustrated had this to say . . .

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Miles of Aisles: TTAG Tours Smith & Wesson

072214_D7C_1748I had the chance to visit the heart of gun valley for the first time last week. I was in Springfield, Massachusetts with a clowder of other gun guys courtesy of Smith & Wesson. The real reason for the trip was to give us some trigger time with three new guns. The first two are really updates; Smith has now made their .380 pistol and .38 revolver Bodyguards part of the M&P line. They’ve also replaced the integrated Insight lasers in the original versions with new Crimson Trace pointers that they say are more reliable and easier to maintain. They also showed us a new gun that we can’t talk about until it’s released in a couple of weeks. But in between the shooting and the sharing, we took some time to tour Smith’s massive 480,000 square foot production facility. Their media relations director, Paul Pluff, showed us around and I’m pretty sure we walked a good 479,000 of those square feet . . .

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Remington Engineers: R51 Launched Over Our Objections

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We have been chronicling the incredible failure that is the Remington R51 for quite some time now. The story took its latest turn yesterday when Remington recalled offered to replace all R51s sold to date. The story started with such promise, but as the rosy marketing hype gave way to the terrible reality of the finished product there was one question we kept asking ourselves: how did this thing ever get made? According to our sources, it looks like production may have started over the fervent objections of the people who designed the gun . . .

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BREAKING: Remington to Replace All R51s

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Were you as excited by the original announcement of the R51 as we were? Were you then equally as horrified that a company with the history and tradition of Remington would release a QC-free POS like that upon the gun-buying public? If you were an early adopter (or just missed Nick’s review) and laid down some cold hard cash for one, Remington’s finally acknowledging the debacle and they’re trying to make things right. Friday afternoons are when everyone releases bad news so Big Green’s just let it be known that they’re offering to replace your R51 (with one that, you know, works, we presume) and will throw in two new mags and a custom Pelican case for your trouble. Their announcement after the jump . . .

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