National Last breath? Remington Arms.

[ma96782]

https://www.msn.com/en-us/money/com...tcy-seeks-sale-to-navajo-nation/ar-BB160Dmj

Aloha, Mark

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[Hueco]

A bid from the Navajo Nation? Really? What could they possibly want with Remington's assets?

 

[Bon Sauvage]

Hmmmmm.....perhaps I should get a Marlin 444 after all.

 

[GWS]

A bid from the Navajo Nation? Really? What could they possibly want with Remington's assets?

It's a great investment if you think a civil war is coming.

 

[2506]

This is how they got to where they are:

How America’s Oldest Gun Maker Went Bankrupt: A Financial Engineering Mystery (Published 2019)

When a secretive private equity firm bought Remington, sales were strong and the future bright. A decade later, the company couldn’t escape its debts.

www.nytimes.com

 

[Aero Denezol]

Damn, might have to overpay for one of those Marlin 1894c that I've been wanting.

 

[po18guy]

Chapter 11 is the elimination, reduction or re-negotiation of debt and the invitation to new owners. Chapeter 13 is the dying gasp when assets are parted out piecemeal to bidders.
Still very sad after they had been doing so well for so long.

 

[The Heretic]

A bid from the Navajo Nation? Really? What could they possibly want with Remington's assets?

Ideally, they would move the manufacturing local and employ tribal members in the plant. If they had the $ and the time, they could hire experts to train their people and provide them with jobs.

Unlikely though.

 

[gmerkt]

The article said, "Remington has continued to face high interest costs." That's pretty bad in such a low interest rate era. Means the company was viewed as being so flaky that no lender would go a loan under less than usurious interest rates.

Remington is one fine example of what often happens when a private equity firm takes contol. In this case, Cerberus. Which is the same private equity outfit that ruined Chrysler.

Do I need to add that buying products made by a dying industrial firm may not be the best choice? I've owned one recently-made Remington 700 rifle. I didn't have it long. As I've said in another post recently regarding quality issues, I won't keep a gun that I don't like.

 

[Xaevian]

Fixed it for you

C'mon man, probably not an excellent edit. Native Americans are disproportionately represented in our armed forces.

 

[Eveskcige28]

Damn, might have to overpay for one of those Marlin 1894c that I've been wanting.

Same...

 

[JRuby]

As of late there are not many guns that Remington makes that I would miss - I liked the 870 and the 1100 but that's about it. I don't think I will miss them if they do go south.

 

[The Heretic]

I think Remington/Marlin/et. al. have good designs (not that some could not be improved upon), and properly implemented (manufactured), there are still people who like them and the brand, if the QA/QC and service was done properly, and the org was managed correctly.

So I wish the new owners the best of luck and I hope they come at it with that in mind.

 

[Mark W.]

Well glad I have my R-51 and R-1 and 3 shotguns. and 572 pump .22 and and and and still want an 1100

 

[Snip]

Being on an Indian reservation and being within a separate country within a country, would liability laws be any different? I know that with some of the Indian casinos, if you win the big jackpot, they don't have to pay you the full amount. Take a settlement and leave.

 

[The Heretic]

Being on an Indian reservation and being within a separate country within a country, would liability laws be any different? I know that with some of the Indian casinos, if you win the big jackpot, they don't have to pay you the full amount. Take a settlement and leave.

I don't know the answer, but the corporation would almost surely still be a US corporation. The casinos are on tribal land, Remington would have to sell to entities outside the tribal land.

 

[66PonyCar]

If they manufacture on Indian land do they have to pay any excise taxes on firearms?

 

[gmerkt]

Being on an Indian reservation and being within a separate country within a country, would liability laws be any different? I know that with some of the Indian casinos, if you win the big jackpot, they don't have to pay you the full amount. Take a settlement and leave.

That's a good question. I think under the bankruptcy process, some of the existing liability goes away. Depending on what can be worked out with the courts and parties involved. Meaning the debt therefrom. If they are immune from future liability issues based on tribal sovereignty, that's another matter.

 

[GWS]

Being on an Indian reservation and being within a separate country within a country, would liability laws be any different? I know that with some of the Indian casinos, if you win the big jackpot, they don't have to pay you the full amount. Take a settlement and leave.

That's pretty bogus
Who would want to gamble with a bunch of welchers if word of that got out?

 

[Snip]

That's pretty bogus
Who would want to gamble with a bunch of welchers if word of that got out?

What would your recourse be if you didn't want to accept the settlement? Go to the tribal police? The BIA? How do you think your complaint would be handled? There's no state run gaming commission to keep the games square.