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Just heard Remington filing chapter 11 selling to the Navajo Nation
- Thread starter Buckshot Hall
- Start date
Something stinks here,well beyond the owners name of "Freedom group",probably the very opposite!
Just how in the heck,in an environment where Joe public is buying anything and everything GUN,that you would expect only the galacticly stupid to believe that, Americas oldest gun maker is in financial ruins?????Someone is getting robbed and there is a thief in the ranks or this has been the plan all along(elite group of billionaires to buy up gun and ammo manufacturers;bankrupt smaller biz;then close the doors.)Sota a backdoor approach at gun control.Something very wrong with this news,along with 99% of the OTHER info. that doesnt pass the smell test for the past 2 decades.Excuse me while I put my mask back on,and grab my rose colored glasses and finish watching the rest of todays portion of pure propaganda at 5:00.
Just how in the heck,in an environment where Joe public is buying anything and everything GUN,that you would expect only the galacticly stupid to believe that, Americas oldest gun maker is in financial ruins?????Someone is getting robbed and there is a thief in the ranks or this has been the plan all along(elite group of billionaires to buy up gun and ammo manufacturers;bankrupt smaller biz;then close the doors.)Sota a backdoor approach at gun control.Something very wrong with this news,along with 99% of the OTHER info. that doesnt pass the smell test for the past 2 decades.Excuse me while I put my mask back on,and grab my rose colored glasses and finish watching the rest of todays portion of pure propaganda at 5:00.
I can't wait to buy a No Wipey 700 - cost is 2 scalps and 1 bottle of fire water.
Oh yea.....fogot about the demonic eyed POS gov. up there whom single handedly caused more deaths than most countries combined,by the worst decisions ever made by anyone ever besides maybe Joseph Mengela(Dr. Death) in Germany's WW II
Ya'll aware people have had their lives ruined for posting **** like this on social media right?
I hope it works out -- the rez could use a good manufacturing business --
They will do a better job than Freedom Group.
Hard to do worse....
In reality, Remington hasn't had owners that cared about guns for probably 50 years now.
Just like Colt, they are owned by hedge funds and bankers who would rather play golf than shoot a gun.
This purchase was floated when they took themselves ch 11 a few years back. Just like the recent Colt Ch 11 this was a financial engineering tactic that extracted almost every bit of liquid assets the company owned and left it with a boatload of debt.
I was actually expecting Colt to descend into a forced sale first, but I think the main driver here is to short-circuit the CT case brought by the Sandy Hook parents against them.
While they would win in Federal court under the LCIA Act, there's enough doubt on how the CT law is written to be different from the federal laws that it's possible they could lose in state court and be subject to a billion dollar award that would take decades to extract themselves from.
More than anything else this makes the continuance of that lawsuit almost impossible.
The new owners obviously have no liability for what the previous owners did, and the optics of suing a Native American tribe would cause every CT Liberal to completely freak out.
It also explains why Remington recently closed down the DPMS and Bushmaster brands. Since they don't exist at the time of the sale, there's no way the Navajos can be tied to those products, further insulating them from the lawsuit.
In reality, Remington hasn't had owners that cared about guns for probably 50 years now.
Just like Colt, they are owned by hedge funds and bankers who would rather play golf than shoot a gun.
This purchase was floated when they took themselves ch 11 a few years back. Just like the recent Colt Ch 11 this was a financial engineering tactic that extracted almost every bit of liquid assets the company owned and left it with a boatload of debt.
I was actually expecting Colt to descend into a forced sale first, but I think the main driver here is to short-circuit the CT case brought by the Sandy Hook parents against them.
While they would win in Federal court under the LCIA Act, there's enough doubt on how the CT law is written to be different from the federal laws that it's possible they could lose in state court and be subject to a billion dollar award that would take decades to extract themselves from.
More than anything else this makes the continuance of that lawsuit almost impossible.
The new owners obviously have no liability for what the previous owners did, and the optics of suing a Native American tribe would cause every CT Liberal to completely freak out.
It also explains why Remington recently closed down the DPMS and Bushmaster brands. Since they don't exist at the time of the sale, there's no way the Navajos can be tied to those products, further insulating them from the lawsuit.
If any court or jury that can rule against or hold liable, Remington or Bushmaster for what transpired in CT.,is a group of people or a system that I cant even begin to recognize anymore.Its like a messy pile of goo and fur you sometimes see in the middle of the road and you ask yourself"What is that?" You know it was an animal of some sort,but what kind?
Sadly, the crazy law that CT put in place that addresses liability for the 'marketing' of firearms was supported by the CT Supreme Court. It's complete and total BS, but it did the job they wanted, and side-stepped the federal law that protects companies from BS like this.
It would have eventually gone to Federal court, where CT may have lost in the end, since it directly contradicts the federal law, but again, Remington is owned by bankers, not 2A advocates.
They would rather dodge the whole thing than spend millions and years trying to get this law repealed.
Unfortunately, the anti-gunners now have a big stick to use. If they can get other states to adopt the same law CT had on the books, it'll give them a way to intimidate gun companies state by state.
It would have eventually gone to Federal court, where CT may have lost in the end, since it directly contradicts the federal law, but again, Remington is owned by bankers, not 2A advocates.
They would rather dodge the whole thing than spend millions and years trying to get this law repealed.
Unfortunately, the anti-gunners now have a big stick to use. If they can get other states to adopt the same law CT had on the books, it'll give them a way to intimidate gun companies state by state.
