Bailout Includes IRA Charitable Giving
November 30, 2008
The Wall Street Journal
By ANNE TERGESEN
If you’re age 70½ or older and are charitably inclined, the bailout package that President Bush signed into law in October contains some good news: Uncle Sam is temporarily resurrecting a tax break available to those who make donations from their individual retirement accounts to charity.
We mentioned this break in brief several weeks ago and — based on readers’ questions — decided to discuss it this week in greater detail. What follows is a look at the requirements involved, as well as a warning: Be careful how you transfer the money.
To be eligible, you have to be at least 70½ when you make the donation. You and your spouse can each give up to $100,000 from your respective accounts this year and next. The money can also come from two other types of retirement accounts — a SEP or a SIMPLE IRA — with the condition that you are no longer contributing to those particular accounts, says Ed Slott, an IRA consultant in Rockville Centre, N.Y. Employer-sponsored plans, such as 401(k)s, aren’t eligible.
You must give the donation to a public charity; a private foundation, supporting organization or donor-advised fund won’t work, says Blanche Lark Christerson, a managing director at Deutsche Bank Private Wealth Management in New York.
The charity has to acknowledge the gift, and you can’t receive anything in return — not so much as a chicken dinner, says Ms. Christerson. Moreover — and this is critical — the check must be payable to the charity. If you withdraw money first, you’ll get stuck paying income tax on the entire amount.
Under the law, any money you donate to charity from your IRA will count toward the annual withdrawals you’re required to take from these accounts after reaching age 70½. (Be aware, though, that if you already took your withdrawal this year, you’re out of luck. You can’t retroactively claim the tax break, even if you gave some or all of this money to charity.)
If you are able to take advantage of this tax break, you won’t get the tax deduction for your gift that you would normally be entitled to. But you are almost sure to come out ahead. To see why, consider what would happen if you were to donate $1,000 to your alma mater.
If when filling out your tax returns you don’t itemize deductions, you’d normally get no tax deduction for the gift. But under the new law, you would receive a nice tax break. That’s because under the new law, the charitable donations you make from an IRA don’t count toward your taxable income. As a result, a $1,000 gift would reduce your income by $1,000. That would save someone in the 25% tax bracket $250.
If you itemize your deductions, you’ll also come out ahead. That’s because taxpayers whose adjusted gross incomes exceed certain thresholds lose some of their deductions and personal exemption amounts. By not adding $1,000 to your income, this gift might help you keep your income below these levels.
“Without this provision, your required minimum distribution may trigger all these other stealth taxes,” Mr. Slott says.
A few states, including New Jersey, don’t allow residents to take deductions for charitable gifts on their state income-tax returns. Residents of these states would still have to pay state income tax on donations from an IRA, says Michael Steiner, a wealth manager at RegentAtlantic in Morristown, N.J. Residents of these states should realize they “won’t get the full tax break,” Mr. Steiner says.
Write to Anne Tergesen at anne.tergesen@wsj.com
Prepare for a Gruesome Retirement
November 30, 2008
The Motley Fool
November 30, 2008
But judging from startling statistics, you’re in danger of a retirement that’s quite the opposite. Picture gnawing on Salisbury steak microwave dinners, taking a bus down to the Git ‘n’ Go for a bag of chips, and bringing your grandchildren to the Salvation Army so you can shop for “new” clothes — all while living in a relative’s moldy basement.
Time for some tough love, Fools.
The facts
According to the 2008 Retirement Confidence Survey (RCS), many Americans will have gruesome retirements. In a separate survey, 31% of us said we’d rather scrub a bathroom than plan for retirement.
Rest assured: If you’ve been putting off planning for your retirement, you’re not alone. (I can’t speak for the scrubbing thing.)
Retirement Calculators
November 29, 2008
When I was in the treestand yesterday waiting on a big buck to come along my way, I was wondering how many bucks (the green kind) I was going to need when I retire. Then I got to thinking about the plan and how to get to the goal of an easy outdoor life during retirement. In order to live the easy life one needs money to pay the bills while one lays around or in my plan, hunts and fishes every day possible.
Try it out and see how easy it is. There are several different calculators and tools and they will be a great benifit to you when you are laying out your plan. You cant have a plan if you dont know what you goals are! Outlining a plan can be pretty easy if you have a few tools like the CNNMoney.com calculators. Start with how you want to retire and how much you will need a month to live on. Its a great and easy site to have in your arsenal and you prepare for retirement. No matter how far away it is.
Smith & Wesson Fills Orders for M&P Series Polymer Pistols
November 25, 2008
Three State Agencies Convert to M&P Pistols SPRINGFIELD, Mass., Nov. 25 /PRNewswire-FirstCall/ — Smith & Wesson Holding Corporation (Nasdaq: SWHC), parent company of Smith & Wesson Corp., the legendary 156-year old company in the global business of safety, security, protection and sport, announced today that it has recently filled orders from three state agencies for duty firearms for its Military & Police (M&P) Pistol Series. Smith & Wesson has filled an order from the Washington Department of Corrections for 500 M&P pistols chambered in 9mm. In addition, the company also recently shipped 555 M&P357 pistols to the Texas Department of Criminal Justice Services, as well as 100 M&P45 pistols to the Wisconsin Department of Criminal Investigations. Each of the three agencies converted to the M&P pistols from non-Smith & Wesson firearms.
Officials at the agencies indicated that the M&P pistol was selected for a variety of reasons, including its polymer frame construction, external safety, and striker fired design. It was also noted that the polymer pistol’s interchangeable grip sizes, ease of maintenance and ability to disassemble the firearm without pressing the trigger were all factors in their decision-making process. At all three agencies, the M&P pistol will serve as the primary duty sidearm.
“Since its introduction, pistols from the M&P Series have been selected for duty use in a variety of law enforcement, private security and military applications,” said Leland Nichols, Senior Vice President of Sales and Marketing for Smith & Wesson. “The ability of the M&P to adapt to diverse environments is a direct result of the pistol’s design and capabilities. We regularly communicate with top military, law enforcement and tactical units throughout the world, assessing their needs and soliciting their input on product improvements and new designs. We are especially pleased that these three recent wins represent adoption of the M&P by state level law enforcement agencies. They reflect our ability to reach beyond the traditional municipal police departments into diverse areas of law enforcement and thereby extend our reach to a broader audience of end-users. We remain dedicated to manufacturing products that are leaders in both quality and innovation, and we are honored to support the men and women in each of these state agencies as well as other law enforcement organizations.”
Engineered to become the handgun of choice for global law enforcement and military personnel, the M&P pistol design is based on input from numerous law enforcement and military organizations. Manufactured with a Zytel(R) polymer frame reinforced with a rigid stainless steel chassis and a through-hardened black Melonite(R) finished stainless steel barrel and slide for added durability, the M&P pistol benefits from enhanced shootability along with a reduction in felt recoil. Other standard features of the M&P pistol include three interchangeable grips sizes; a sear release lever that eliminates the need to press the trigger in order to disassemble the firearm; an ambidextrous slide stop; reversible magazine releases and a passive trigger safety to prevent the firearm from firing if dropped. The M&P9 has a 17+1 capacity, while the M&P45 is standard with a 10+1 capacity. The M&P357 pistol features a 15+1 round capacity magazine. Each M&P pistol comes standard with the Smith & Wesson lifetime service policy. The M&P pistol series is available in 9mm, .40S&W, .357SIG, and .45ACP calibers. Compact versions of the M&P pistol are also available for concealed carry and back-up use.
About Smith & Wesson
Smith & Wesson Holding Corporation, a global leader in safety, security, protection and sport, is parent company to Smith & Wesson Corp., one of the world’s largest manufacturers of quality firearms and firearm safety/security products and parent company to Thompson/Center Arms Company, Inc., a premier designer and manufacturer of premium hunting rifles, black powder rifles, interchangeable firearms systems and accessories under the Thompson/Center brand. Smith & Wesson licenses shooter protection, knives, apparel, and other accessory lines. Smith & Wesson is based in Springfield, Massachusetts with manufacturing facilities in Springfield, Houlton, Maine, and Rochester, New Hampshire. The Smith & Wesson Academy is America’s longest running firearms training facility for law enforcement, military and security professionals. For more information on Smith & Wesson, call (800) 331-0852 or log on to www.smith-wesson.com. For more information on Thompson/Center Arms, log on to www.tcarms.com.
Industry Contact: Gary Giudice
Blue Heron Communications
(800) 654-3766
gary@blueheroncomm.com
Liz Sharp, VP Investor Relations
Smith & Wesson Holding Corp.
(480) 949-9700 x. 115
lsharp@smith-wesson.com
SOURCE Smith & Wesson Holding Corporation
Economic News Not Improving
November 24, 2008
From today’s The Outdoor Wire
Berkshire Hathaway Inc.’s Forest River Inc. has acquired the RV assets of Coachmen Industries, Inc. (NYSE:COA). Those assets include its brands, product lines, central manufacturing operations in Middlebury, Indiana and the dealership in Elkhart, Indiana.
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Executives at Coachmen say the decision was all about securing the future of the company. For months, it was common knowledge in the industry that Coachmen was floundering, along with most of the rest of the recreational vehicle industry. Coachmen, however, has made a deal that will keep the company operating, maintain the corporate offices and facilities in Middlebury/Elkhart and provide what CEO Richard Lavers calls “sufficient cash liquidity to not just survive, but to build our profitable housing businesses and continue our diversification into the bus and specialty vehicle transportation industries.” In today’s struggling economy, those are goals simply out of the reach of many of Coachmen’s competitors.
It’s been a tough trip to this point for the RV manufacturer. This time last year, COA shares were trading at $6.40. Prior to the announcement of the acquisition, they had traded as low as forty-eight cents per share. Friday, Coachmen shares nearly doubled, closing trading Friday at $1.08/share.
According to a release issued by the company, full details of this transaction will be released “at the appropriate time” and the transaction is subject to shareholder approval. The company says it will seek that approval in December.
“There is still much to be done, but we look forward to a long and bright future for both these fine companies,” concluded Lavers.
Coachmen Industries, Inc. has been one of America’s leading manufacturers of recreational vehicles with Coachmen, Georgie Boy, Sportscoach and Viking. The company also produces “systems-built homes” through All American Homes and Modu-Kraf and commercial structures with All American Building Systems,
Berkshire subsidiary Forest River describes itself as the world’s largest manufacturer of towable and fifth-wheel trailers, but it’s holdings are considerably more extensive. With 60 manufacturing facilities and 5400 employees Forest River subsidiaries include Elkhart Coach and Glaval and Starcraft Bus, Rockport Commercial Vehicles, Forest River Marine (pontoon boats) and Forest River Housing subsidiaries Hart Housing and Sterling Homes.
And the RV industry isn’t alone in their suffering. The boat industry, despite reports to the contrary, is hurting. The Outdoor Wire has learned that many of the manufacturers of smaller sport and fishing craft are losing dealers nationwide. Some smaller dealers, faced with the challenge of meeting their obligations – including the technique known as floor planning their inventory from boat makers, are simply walking away. Their abandonment is making an already shaky industry worse as manufacturers find themselves faced with the task of bringing retrieving their inventory, and dealing with the loss of cash flow from the floor planned inventory.
We’re also hearing that financial challenges are biting deeply into the regional competition circuits. Many professional anglers have “memo boats” technically, they are purchased from the manufacturer on very favorable terms, but the anglers normally sell the boats at the end of their competition season, pay that money to the manufacturer and roll their memo into a new boat for the next season. It’s a practice that is being curtailed – drastically- according to professional anglers.
And there is the continuing challenge of finding financing for qualified buyers. We’re hearing that consumers who want to buy boats and have good credit scores (in some cases, excellent credit scores) just can’t get financing. At an industry meeting recently in Las Vegas, there were a couple of potential solutions offered, but we’ve yet to hear any of them taking definitive shape.
In the meantime, everyone watches as the economic conditions continue to worsen across the outdoor industry. Since our report on Friday concerning the acquisitions and stock prices at two major outdoor retailers, we’ve continued to get reports that indicate that small vendors and specialty service suppliers are finding themselves waiting longer – and in some cases, considerably longer – for their payments. That’s a frightening trend in the industry as these smaller suppliers don’t have the resources to either survive without timely payment, or pursue collection measures against their customers.
With staff cuts across the retail sector and the continued reluctance of consumers to spend beyond their means, we may be facing a very mediocre shopping day this coming Friday. Although there is an excessive amount of hyping of the significance of that first shopping day after Thanksgiving, it is one indicator of the type of holiday retail season ahead.
Meanwhile, this new frugality – by consumers and companies – is good news and bad news. Retail is suffering, but debt is slowing as consumers hold off on all but essential purchases. We’re hearing that bargain hunters, armed with figurative wads of cash (like Berkshire Hathaway) are shopping the outdoor and firearms industries for bargains.
They’re out there.
Less Than 60 Shopping Days Till the Big Gun Grab
November 19, 2008
It’s been a week and a half since Barack Obama was elected president. He won’t take office for another two months. But he’s already got one big group of Americans on their feet.
What is Barack Obama’s position on the rights to bear arms?
Sen. Obama’s campaign Web site says he “respects the constitutional rights of Americans to bear arms.” It promises he will “protect the rights of hunters and other law-abiding Americans to purchase, own, transport and use guns.”
Seeking to reassure gun owners, Obama told a campaign audience in Ohio in October: “I will not take your shotgun away. I will not take your rifle away. I won’t take your handgun away.”
But the crowds mobbing America’s gun stores this week say a large number of Americans – including first-time gun-buyers – don’t believe it.
In 2003, while serving in the Illinois State Legislature, Barack Obama voted in favor of a bill in the Judiciary Committee that would have made it illegal to “knowingly manufacture, deliver or possess” so-called “semi-automatic assault weapons,” reports Chris Cox, chief lobbyist for the National Rifle Association. “Under this bill, a firearm did not actually have to be semi-automatic to be banned. According to definitions in the bill, all single-shot and double-barreled shotguns 28-gauge or larger, and many semi-automatic shotguns of the same size, would be banned as ‘assault weapons.’
“Any Illinois resident who possessed one of these commonly used guns 90 days after the effective date would have had to ‘destroy the weapon or device, render it permanently inoperable, relinquish it to a law enforcement agency, or remove it from the state.’ Anyone who still possessed a banned gun would have been subject to a felony sentence.”
In an April television debate, Sen. Obama argued someone else on his staff improperly filled out a 1996 questionnaire stating support for a ban on the manufacture, sale, and possession of handguns – even after ABC News’ Charlie Gibson told Obama “Your writing was on the questionnaire.”
And the National Shooting Sports Foundation sent out mailers last month warning that – while in The U.S. Senate – Sen. Obama voted for versions of Senate Bill 397 that could have bankrupted gun manufacturers by allowing them to be sued for misuse of their products (“equivalent to holding car makers responsible for drunk driving”), as well as for a 500 percent tax increase on guns and ammo and a ban on virtually all deer-hunting ammunition.
Americans aren’t waiting to see which Barack Obama takes office in January. They’re voting with their feet, and their billfolds.
Glen Parshall of Bargain Pawn in North Las Vegas reported Wednesday that sales are “through the roof. I can’t get anything. I mean handguns, rifles, ammo, you name it. Ammo’s doubled in (wholesale) price in the past week if you can find it. I had a line of people waiting for me this morning when I showed up for work, waiting to buy AR-15s. Everybody’s fearful of the messiah, very, very much fearful, I mean hanging their heads and cannot believe he got elected fearful.
“We had that rush in ’94 when they passed the first so-called assault weapons ban, but that’s nothing compared to what we’ve got going on now. I mean, people come through the door asking me ‘If I buy this now, they won’t be able to confiscate it next year, will they’? I tell them ‘My crystal ball is in the shop.’
“My biggest distributors nationwide, they’ve got a strict allocation of two AR-15 rifles per week per dealer – if they get them. Everybody wants ’em. Brownell’s is out of everything: nuts and bolts and screws. I just got done ordering a few barrels and upper receivers a few nights ago, but they’re out of magazines. I can’t buy a Glock anywhere in the country except the oddball ones, weird calibers or the ones in green with orange slides, things like that. I did find a couple ARs last week, match rifles that go for $2,000, I’ve got those coming in for customers.
“In October before this all started, my sales were approximately double what they were last October. This week it’s up more than that, and it’d be a hell of a lot higher if I had anything. People are looking for handguns, looking for rifles, looking for magazines.
“Ammunition? 7.62-by-39 was $180 a case last month, now it’s $350 for a (thousand-round) case. .223 was $300 a case, I haven’t been able to find any, but it would run me over $400 if I could get any. A guy across town got in two pallets” (about 100,000 rounds) “of 9 millimeter, it lasted about a day and a half. It’s absolutely mind-boggling. I’m still selling a lot of revolvers. I can’t get short shotguns.”
But why do his customers believe Democrats impose more gun bans, we asked Mr. Parshall, who’s sold guns and gold in this town for decades. After all, aren’t crime rates highest precisely where law-abiding citizens are barred from carrying weapons for their own defense?
“That’s not what they care about. They’re socialists. They want to be in total control. They want to confiscate – that’s their word – all the IRAs and 401-Ks, put them in a government fund paying you 3 percent interest. People are afraid.”
“People are terrified of losing their right to protect themselves,” DeWayne Irwin, owner of Cheaper Than Dirt, a large gun store in Ft. Worth, Texas tells the Chicago Tribune. “The volume is ten times what we ever expected. It started with assault rifles, but at this point, people are buying ammunition, high capacity magazines, Glocks – it’s all flying off the shelf. With the economy the way it is, people are worried about instability. They are scared of civil unrest.”
“Why are white people buying assault weapons?” asks Ben Agger, a sociology professor at the University of Texas at Arlington who wrote a book about the Virginia Tech slayings. “I almost hate to say it, but there is a deep-seated fear of the armed black man, because Obama now commands the military and other instruments of the justice system,” Professor Agger told the Chicago Tribune, a newspaper which routinely refers to semi-automatic rifles as “assault rifles,” which they are not. “They are afraid Obama will exact retribution for the very deep-seated legacy of slavery,” Professor Agger figures.
Oh, please. What we’re seeing in the gun stores this week is not a nation arming itself for revolt, but Americans in a thoroughly defensive mode, stocking up now to avoid the Democratic gun bans they believe are coming. What many Americans fear is that Barack Obama – aided by congressional allies like Senators Dianne Feinstein of California and Charles Schumer of New York – will revert to his true, pre-campaign nature come Jan. 20, and once more move to take away Americans’ guns.
Obama “says he’s in favor of common sense gun laws,” says DeWayne Irwin. “Well, what people up north think is common sense is something different from us down here in Texas. The criminals have all this illegal stuff. I don’t want to fight them with a handgun if I can get an AK. I’m entitled to that. I should be able to defend my home.”
“We’ve had a lot of people concerned because our president-elect is extremely anti-gun and so is his running mate,” says Jerry Bricco, owner of First Class Firearms in suburban Zion, Illinois. “They’re afraid of future gun bans and what you will be allowed to get.”
After all, Democrats have tried before. In fact, a notable public figure said after Republicans recaptured Congress in 1994 that that happened precisely because Democrats tried to take away Americans’ guns.
Who was that insightful analyst?
Bill Clinton.
November 19, 2008
Vin Suprynowicz [send him mail] is assistant editorial page editor of the daily Las Vegas Review-Journal and author of The Black Arrow.
Copyright © 2008 Vin Suprynowicz
Bullet Points – Gander Mountain & Tax free gun days in SC
November 17, 2008
NOW YOU SEE IT . . . Last week, President-elect Obama’s transition Web site, change.gov, posted the administation’s agenda for curtailing Americans’ Second Amendment rights and then, oddly, took down the information after just two days. An NSSF news release responded to the Obama agenda and pointed out that gun owners were right to be concerned about the Obama-Biden team, given their past anti-gun records. The Web site’s original statement on semiautomatic rifles intentionally misled readers by referring to these commonplace firearms as “weapons that belong on foreign battlefields.” Interestingly, that reference has been eliminated in the agenda that has been re-posted to the site under Urban Policy, although the intention to make permanent the expired 1994 Assault Weapons Ban remains, among other troubling gun-control measures. NSSF encourages readers to read its release to stay vigilant on the President-elect’s agenda.
A HOLIDAY WORTH CELEBRATING . . . South Carolina will waive the state’s sales tax on purchases of handguns, rifles and shotguns Nov. 28- 29 during its first “Second Amendment Sales Tax Holiday.” The 48-hour tax break on firearm purchases begins at 12:01 a.m. Nov. 28 and continues through midnight Nov. 29. The tax exemption also applies to any local sales and use tax. The South Carolina Department of Revenue has posted a list of exempt and non-exempt items and answers to some of the most frequently asked questions at its Web site, www.sctax.org, under the “What’s New” section.
GANDER MOUNTAIN REPORTS THIRD-QUARTER PROFIT . . . Outdoor retailer Gander Mountain Co. (NASDAQ:GMTN) announced preliminary third-quarter results on Thursday, reporting a profit of $700,000. The St. Paul, Minn.-based company said retail segment income was $3.6 million, compared to a loss of $5.1 million in the third quarter last year. Third-quarter sales increased 4 percent to $270 million, however; same-store sales — or sales at stores open at least a year — declined 6.5 percent compared to the same period a year ago.
Under Armour contributes to Elk Foundation mission
November 16, 2008
Updated: November 13, 2008, 3:32 PM ET
“On behalf of the millions of loyal Under Armour customers who hunt and enjoy the outdoors, we’re proud to support the amazing conservation success of the Elk Foundation,” said Kip Fulks, Under Armour senior vice president, Outdoor Division.
The company’s contribution will help the Elk Foundation’s mission to ensure the future of elk, other wildlife and their habitat. Additionally, Fulks, an avid elk hunter, has joined RMEF as a new life member.
Since launching in 1984, RMEF has led habitat protection and stewardship programs impacting over 5.4 million acres, improving and expanding outdoor opportunities.
“We’re honored that a company of Under Armour’s stature views us and our work so favorably. In the outdoor marketplace, no company has rocketed to the top faster, and no company today has a greater ‘cool factor’ among the young people that we’d like to engage in conservation,” said David Allen, Elk Foundation president and CEO.
http://sports.espn.go.com/outdoors/general/news/story?id=3700867
November 11, 2008
OK I will admitt it now, I did the Million Dollar Portfolio Challenge last year and Im going to do it again this time. I think I did pretty good last time so I want to see if I can do any better since I have a better understanding of the market. At least better then the last time I tried the challenge.
I will also note that I did not do what alot of people do and set up multiple accounts and buy a million dollars worth of one stock. I went through and found a bunch of stocks that I thought would be going up and bought a few thousand dollars worth of each one. I did pretty good and infact I was shocked that I did as well as I did. So Im going try again but this time I’ll come up with a couple of strategies and we can follow along here on the Treestand Investor blog. I hope we can have some fun and track the progress of the challenge as it goes.
In case you dont know about the Million Dollar Portfolio Challenge you need to check out CNBC.com now cause the game starts Monday I think Nov 17.
Join with me and we can chat about it maybe even help each other out. Thats why we are here………. right?
Smith & Wesson Fills Law Enforcement Orders for M&P15 Rifles
November 11, 2008
| Smith & Wesson Fills Law Enforcement Orders for M&P15 Rifles |
| SPRINGFIELD, Mass., Nov 11, 2008 /PRNewswire-FirstCall via COMTEX News Network/ — Chicago Police Department Newest to Equip Officers with M&P15 Rifles
Minnesota State Patrol Converts to M&P15 Smith & Wesson Holding Corporation (Nasdaq: SWHC), parent company of Smith & Wesson Corp., the legendary 156-year old company in the global business of safety, security, protection and sport, announced today that it has recently filled orders for its Military & Police (M&P) tactical rifles. Among recent shipments is an order from the Chicago Police Department to equip the city’s officers with 275 M&P15 rifles. In addition, the Minnesota State Patrol also converted to Smith & Wesson firearms, receiving 90 M&P15 rifles. Officials at each of the agencies indicated that they selected the M&P15 based on the rifle’s accuracy and reliability during testing. The quality of the rifle’s components, production of the rifles in the United States, and the field sales and training support offered by Smith & Wesson were all cited as factors leading to the selection of the M&P15. During the selection process, the M&P15 was tested against other competing patrol rifles. Leland Nichols, Senior Vice President of Sales and Marketing for Smith & Wesson, said, “We are extremely pleased that the M&P15 tactical rifle was selected for use by the Chicago Police Department and the Minnesota State Patrol. Since its introduction in January 2006, the M&P Rifle series has won over 90 percent of all law enforcement contests in which it has competed. We believe the rifle’s performance in these sectors will demonstrate that it is highly suitable, not only for law enforcement divisions, but for military and security forces as well.” The M&P Rifle Series is based upon a combat-proven design and incorporates standard features designed to enhance ease of use and accuracy while in the field. The M&P15 is a rugged, lightweight, semi-automatic rifle with a 16-inch barrel. The rifle is chambered for 5.56mm NATO (.223) ammunition and features a single-stage trigger with a 7-pound trigger pull. Both the upper and lower receivers on the rifles are constructed with a tough 7071 T6 aluminum and each rifle is furnished with an A2 military flash suppressor. Reliability features of the gas-operated rifles include a chrome-lined gas key, bolt carrier and barrel. The M&P15 rifle is designed to accommodate a variety of shooting positions through the use of a six-position adjustable stock and each rifle features a barrel twist of 1 in 9 inches. The M&P15 incorporates a traditional AR-15 design featuring a removable carry-handle and adjustable rear and front post sights, allowing for quick target acquisition and convenient handling. The black anodized rifle measures 35 inches in length when fully extended and a compact 32 inches with the stock collapsed. The M&P15 has an unloaded weight of 6.74 pounds. About Smith & Wesson Smith & Wesson Holding Corporation, a global leader in safety, security, protection and sport, is parent company to Smith & Wesson Corp., one of the world’s largest manufacturers of quality firearms and firearm safety/security products and parent company to Thompson/Center Arms, Inc., a premier designer and manufacturer of premium hunting rifles, black powder rifles, interchangeable firearms systems and accessories under the Thompson/Center brand. Smith & Wesson licenses shooter protection, knives, apparel, and other accessory lines. Smith & Wesson is based in Springfield, Massachusetts with manufacturing facilities in Springfield, Houlton, Maine, and Rochester, New Hampshire. The Smith & Wesson Academy is America’s longest running firearms training facility for law enforcement, military and security professionals. For more information on Smith & Wesson, call (800) 331-0852 or log on to www.smith-wesson.com. For more information on Thompson/Center Arms, log on to www.tcarms.com. Industry Contact: Gary Giudice Liz Sharp, VP Investor Relations SOURCE Smith & Wesson Holding Corporation http://www.smith-wesson.com |
