rockstar famous and that is why he is almost certainly the average fireman in case you wonder if the system is rigged. tonight we went to tell you how paul singer does business. it begins in a small town called sydney, nebraska, population 6282. sydney is the longtime home of a sporting goods retailer which sells fishing and hunting gear. in october 2015 singer at hedge fund disclose 11% stake instead of pushing the board to settle the company. management apparently fearing a costly fight with singer announced it would look for a buyer. at the time, s was a relatively healthy company boasting $2 billion in gross profits while $4 billion in revenue, there didn t see to be an immediate need to sell but cabelas sold after being pushed. one year after singer entered the equation.
singer does business pick of the story begins in a small town called sydney nebraska, two hours outside denver. sydney is the longtime home of a sporting goods retailer, cabela s, which sells fishing and hunting gear. in october of 2015, singers hedge fund disclosed an 11% stake in cabela s and pushed the board to sell the company. cabela s management, fearing a long and costly fight with singer, announced they would look for a buyer.a at the time, cabela s was a relatively healthy company. it was posting nearly $2 billion a year in gross profits off t $4 billion in revenue. there didn t seem to be anel immediate need to sell, but cabela s sold, anyway, after being pushed. so one year after singer entered the equation, bass pro shops announced the purchase of cabela s. company s stock price searched. within a week literally a week paul singer cashed out. he bought the stock for $38 a share, sold it for $63 a share.
that did win back the house in 2018 and could win back the white house in 2020. bret: live in washington, thank you. up next, tributes to house oversight committee chairman elijah cummings after his unexpected death. first let s hear from some of our fox affiliates around the country. fox 5 in san diego is the coast guard off-loads more than 6800 pounds of cocaine confiscated from seafaring drug smugglers in the eastern pacific over the last several months. the drugs would have been worth an estimated $92 million on the market. fox san antonio as prosecutors say sporting goods retailer broke the law by selling a rifle and ammunition to a man who use them to kill more than two dozen worshipers at a texas church. devon kelley slaughtered 26 people and injured 20 in sutherlin springs in novembe november 2017. the retailer lanes he passed on the background checks necessary in that sale was lawful.
disgraceful. we saw him do the same thing with mccabe, sort of creating hostile work environment so that mccabe retires early. maybe that s what he s hoping for. former fbi director. deputy fbi director. yes, exactly. and maybe this is what he s trying to do. if he can t fire him, maybe he can humiliate him out of his job. jeff sessions has cesaid today, work for the department of justice, i have to protect the integrity of the department of justice. there are clear rules about communications between the white house and the justice department. you ve overstepped that boundary again. thanks, guys, very much. coming up, the survivors of the parkland, florida, shooting make an emotional return to school today. i ll talk to one of the students about his first day back and how he s keeping the memories of his classmates so close. plus, taking a stand. the nation s largest sporting goods retailer announcing it will stop selling assault-style rifles.