This is interesting. I had the very strong impression that S&W's 'interpretation' of the agreement was almost surreal, and more likely a PR move. Hate to say it, but I think the government is 'right' in this case, that is, regarding the truth of the agreement.
I'm actually left with even less respect for S&W. How stupid can they be? Did they read this thing? Did they really think there would be little impact? Did they think the fed's would let them interpret it any way they wished?
I'm going to post your story below, because these newspaper sites change links all the time, and I suspect your link will die pretty quickly. Here is the text:
Smith & Wesson, government now disagree on settlement
Philadelphia Newspapers Inc
By Jonathan Weisman
BALTIMORE SUN
WASHINGTON - Smith & Wesson, America's largest manufacturer of handguns, has issued a "clarification" of its landmark pact with the federal government that would effectively eviscerate much of the gun controls trumpeted by the Clinton administration.
Smith & Wesson's interpretation - posted on its Web site - has forced the company back into talks with the administration that could lead to a protracted court battle.
Administration officials dismissed Smith & Wesson's interpretation as more of a public-relations gambit than a genuine change of heart, but said they would be willing to go to court to force Smith & Wesson into compliance.
"The deal speaks for itself," Neal Wolin, general counsel of the Treasury Department, said of the agreement that Smith & Wesson reached March 17 with federal, state and local officials as a way to settle lawsuits it had faced related to gun violence.
"I think the language of the deal is clear on all these points," Wolin said.
Contrary to the government's interpretation, the gun manufacturer says now, its agreement would compel Smith & Wesson dealers to impose background checks and other gun-sale restrictions only on buyers of Smith & Wesson products.
The government maintains that dealers who wish to sell Smith & Wesson's products must impose such restrictions on buyers of all guns.
Moreover, the company says, the criminal background checks to which it agreed for gun-show sales would not apply to guns sold by private citizens, only to those sold by licensed dealers.
Gun-show sales by licensed dealers are already subject to background checks.
"We can't agree to control things that we have no way to control," said Ken Jorgensen, a Smith & Wesson spokesman.
Federal officials touted Smith & Wesson's accord as a breakthrough, largely because it was supposed to have a broad effect on the firearms industry.
Under the government's interpretation, Smith & Wesson agreed that its products could be sold only by dealers who followed a strict "code of responsibility" for all gun sales, not just sales of Smith & Wesson products.
White House officials acknowledged that there were now stark differences between the administration's position and that of Smith & Wesson, which President Clinton hailed last month as a courageous and visionary company.
Since the deal was signed, Smith & Wesson has come under pressure from gun manufacturers, gun dealers and gun-rights activists, who have accused it of sabotaging the industry.