Smith And Wesson Clinton Agreement

Smith-Wesson and the National Rifle Association did not respond to requests for comment. Alphonso Jackson, a HUD secretary during the George W. Bush administration responsible for enforcing the arms security agreement, did not return a message left at home, asking for comment. And it worked. On March 17, 2000, shortly after the Columbine Massacre, the White House announced an agreement with Smith-Wesson, the oldest and largest arms manufacturer in the United States. In addition, some gun control advocates have raised acerbic questions about the importance of the agreement and noted that Smith-Wesson, which is headquartered in Springfield, Mass. London`s PLC tomkins, which has already sent trigger locks with its handguns and is in the process of developing smart gun technology. And they said the agreement, which excludes weapons sold to law enforcement or the military, could be almost impossible to enforce. On May 11, 2001, Saf-T-Hammer Corporation acquired Smith and Wesson Corp. from Tomkins plc for $15 million, a fraction of the $112 million originally paid by Tomkins. [19] Saf-T-Hammer took on a debt of $30 million, bringing the purchase price to $45 million. [20] [21] Saf-T-Hammer, a manufacturer of firearm locks and other security products, purchased the company with the aim of integrating its security products into all Smith-Wesson firearms, in accordance with the 2000 agreement.

“The agreement is the industry`s first major concession to growing public and political pressure for tighter gun control,” the Times wrote in an editorial. “It`s also a scathing defeat for the National Rifle Association, which is speaking out against the reforms that Smith-Wesson has just passed.” Today, Mr. Cuomo suggested that the heated oratory had helped create a climate that facilitated the Smith-Wesson agreement. And the agreement requires, within three years, a “smart gun” technology that allows each of its new handguns to be fired only by authorized users. The firearms agreement, which met over the past two days, was announced by Finance Minister Lawrence H. Summers and Housing Minister Andrew M. Cuomo, whose services assisted in the negotiations. New Orleans, which filed the first complaint, was one of the cities and counties that signed the agreement; St. Louis; Bridgeport, Conn.

Newark; Los Angeles; San Francisco; Miami-Dade County, Atlanta and Detroit. The agreement also provides a “code of conduct” for Smith and Wesson`s authorized distributors and distributors who, on pain of losing their franchise, prohibit them from selling weapons on weapons displays, unless the purchasers have passed substantive examinations. This issue is the main stumbling block in the legislation that is now stalled in Congress. But the broader impact of the deal will largely depend on the sequel to Smith and Wesson, which experts say produce about one-fifth of the 2.5 million handguns sold each year. Today, the president of the largest trade association for arms manufacturers issued a statement denouncing Smith and Wesson for breaking ranks. The agreement, negotiated with the help of the Clinton administration, resolved disputes in 15 cities that had sought damages from Smith and Wesson for gun violence. In addition, the administration and attorneys general of the State of New York and Connecticut signed the contract and agreed not to sue the company. The agreement does not end cities` disputes against other arms manufacturers.