Yes I heard the same thing Corsair, apparently they are having quite the time with Uncle Sam's red tape.
I listened to a taped interview with the new CEO of Ithaca USA, and they cannot even manufacture single shot rifles (even 22s) or handguns, due to the "insurance" rules they must follow according to the buy out agreement with the "old" Ithaca company.
What a pile of crap, but at least they are making M37s again......