Author Topic: Remington’s Rumored Sale To Navajo Nation Could Spell Big Changes For Company  (Read 3685 times)

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Offline mountaineer

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 Remington’s Rumored Sale To Navajo Nation Could Spell Big Changes For Company
Posted at 5:00 pm on June 26, 2020
 by Cam Edwards

The Wall Street Journal reported on Friday that firearms industry giant Remington is likely to enter into Chapter 11 bankruptcy protection in the next few days, and is in discussions with the Navajo Nation to purchase the iconic brand. If that happens, there’ll likely be some big changes coming, starting with an end to all AR-style products, at least for the consumer market.

Back in 2018, as the company was last emerging from bankruptcy, the Navajo Nation offered to buy Remington for somewhere around $500-million. The company rejected the offer at the time, but now they appear to be willing to make a deal.  ... Bearing Arms - must subscribe
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Offline mountaineer

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Here's a non-subscription story:
Quote
Remington Arms preps for bankruptcy sale to Navajo Nation
By Reuters
June 26, 2020 | 4:35pm

Remington Arms, America’s oldest gun maker, is preparing to file for Chapter 11 bankruptcy protection and is in advanced talks for a potential sale to the Navajo Nation, The Wall Street Journal reported on Friday.

Remington is making preparations for the Native American tribe to serve as the lead bidder to purchase its assets out of Chapter 11, the Journal reported here, citing people familiar with the matter. ...
NY Post
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Offline mountaineer

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Here's what was going on two years ago:
Quote
Bid to purchase Remington sparks conflict within Navajo leadership
President's office and speaker's office at odds over $525 million dollar bid for gun manufacturing company
 By Katherine Locke
Originally Published: July 24, 2018 10:21 a.m.

WINDOW ROCK, Ariz. — An article in The New York Times July 16 that said the Navajo Nation had offered to buy Remington Arms Co., LLC for approximately $525 million cash spurred conflicting statements from the Nation's executive and legislative branches.

Andrew Ross Sorkin reported in The New York Times that the proposal made by the Nation was novel.

“It intended to shift the company [Remington] away from its consumer business, including curtailing the sale of AR-15-style weapons frequently used in mass shootings, to focus on police and defense contracts,” Sorkin said in the article. “The tribe planned to use the profits from those businesses to invest in research and development of advanced ‘smart guns’ — those with fingerprint or other technology intended to prevent anyone but the gun’s owner from using the weapon.”

Sorkin added that the only guns the Navajo Nation planned to sell to consumers were long guns like rifles and shotguns used by hunters and that Remington rejected the bid.  ...
Navajo-Hopi Observer

That publication has not yet reported on today's developments.
« Last Edit: June 26, 2020, 11:22:48 pm by mountaineer »
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Offline txradioguy

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You would think that an Indian nation would be the last group to want to limit what kind of guns people have access to.  :shrug:
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Offline mountaineer

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Remington has declared bankruptcy. I did all I could to increase their bank account, and would buy more 9mm ammo if only I could find it!
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Offline txradioguy

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Remington has declared bankruptcy. I did all I could to increase their bank account, and would buy more 9mm ammo if only I could find it!

IMHO they bought up too many other manufacturers and quality control issues with Marlin rifles after they bought the company as well as the disaster that was their R51 pistol.

I like their ammo too...especially their stuff for shotguns and yes their 9mm as well.

Even the PX is running out of the stuff these days.
« Last Edit: August 06, 2020, 12:43:03 pm by txradioguy »
The libs/dems of today are the Quislings of former years. The cowards who would vote a fraud into office in exchange for handouts from the devil.

Here lies in honored glory an American soldier, known but to God

THE ESTABLISHMENT IS THE PROBLEM...NOT THE SOLUTION

Republicans Don't Need A Back Bench...They Need a BACKBONE!

Offline roamer_1

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You would think that an Indian nation would be the last group to want to limit what kind of guns people have access to.  :shrug:

I would pick up the whole thing, lock, stock, and barrel, and set it down on the rez. Remington's problem is it's location. Away from unions and gun-hating regulations, That's a money maker.

And I doubt very much they will limit, once they see the bang for buck.

Offline txradioguy

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I would pick up the whole thing, lock, stock, and barrel, and set it down on the rez. Remington's problem is it's location. Away from unions and gun-hating regulations, That's a money maker.

And I doubt very much they will limit, once they see the bang for buck.

That's not a bad idea.  It would diversify a reservations income from either oil or gambling.
The libs/dems of today are the Quislings of former years. The cowards who would vote a fraud into office in exchange for handouts from the devil.

Here lies in honored glory an American soldier, known but to God

THE ESTABLISHMENT IS THE PROBLEM...NOT THE SOLUTION

Republicans Don't Need A Back Bench...They Need a BACKBONE!

Offline mountaineer

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Remington Asset Bids Revealed: Ruger Gets Marlin, Vista Gets Remington Ammo, Franklin Armory Gets Bushmaster, Sierra Gets Barnes
by Dan Zimmerman
Sep 27, 2020


The bidding process for the sale of most of the assets of Remington Outdoor, Inc. is now complete. The debtors — Remington — have selected the successful bidders for each asset or asset bundle, along with backup bidders, and you can read the complete court filing here which details all of the assets purchased.

The bankruptcy court still needs to approve the successful bids, but they are as follows:  ... 
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Offline sneakypete

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You would think that an Indian nation would be the last group to want to limit what kind of guns people have access to.  :shrug:

@txradioguy

You kidding? All the reservation Indians care about is "more free stuff". Chances are the is not a single tribal member on the management or planning team for anything more than drawing a check.

The tribe may own it,but management controls it.

Given that it is an Indian tribe that is going to be the supposed owners,you can bet there will be all sorts of government minority  grants and tax breaks that come with the deal.
« Last Edit: September 28, 2020, 03:03:12 am by sneakypete »
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Offline sneakypete

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Remington has declared bankruptcy. I did all I could to increase their bank account, and would buy more 9mm ammo if only I could find it!

@mountaineer

I have to admit this is the first I heard of it,and can't even begin to guess how it happened. They had a VERY successful product line and were well-established.

Did somebody steal all the money and run?
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Offline sneakypete

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I would pick up the whole thing, lock, stock, and barrel, and set it down on the rez. Remington's problem is it's location. Away from unions and gun-hating regulations, That's a money maker.

And I doubt very much they will limit, once they see the bang for buck.

@roamer_1

The only problem I see with that is there HAS to be some sort of agreement to have a majority Navajo
workforce,and were are they going to get them? Remington ain't a mom and pop sized business.
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Offline Smokin Joe

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@mountaineer

I have to admit this is the first I heard of it,and can't even begin to guess how it happened. They had a VERY successful product line and were well-established.

Did somebody steal all the money and run?
Judge allowed the suit against Remington owned Bushmaster over Sandy Hook.

Next, farmers will be sued for growing corn used to make whiskey because some drunk ran someone over.
How God must weep at humans' folly! Stand fast! God knows what he is doing!
Seventeen Techniques for Truth Suppression

Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

C S Lewis

Offline txradioguy

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Judge allowed the suit against Remington owned Bushmaster over Sandy Hook.

Judge did that despite federal law preventing this kind of lawsuit from happening.  However it IS one of the cornerstones of Progeressive gun control they don't say that loudly or that often.

Quote
Next, farmers will be sued for growing corn used to make whiskey because some drunk ran someone over.

Give them time...they'll do that.  They are too busy suing the bartender and the bar owners right now.
The libs/dems of today are the Quislings of former years. The cowards who would vote a fraud into office in exchange for handouts from the devil.

Here lies in honored glory an American soldier, known but to God

THE ESTABLISHMENT IS THE PROBLEM...NOT THE SOLUTION

Republicans Don't Need A Back Bench...They Need a BACKBONE!

Offline Cyber Liberty

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Judge did that despite federal law preventing this kind of lawsuit from happening.  However it IS one of the cornerstones of Progeressive gun control they don't say that loudly or that often.

Give them time...they'll do that.  They are too busy suing the bartender and the bar owners right now.

At the moment the gun-grabbers are busy beating a drum for a non-sensical insurance scam, to make firearms very expensive to bear, and as a bonus get the arms back-door registered.
For unvaccinated, we are looking at a winter of severe illness and death — if you’re unvaccinated — for themselves, their families, and the hospitals they’ll soon overwhelm. Sloe Joe Biteme 12/16
I will NOT comply.
 
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Offline txradioguy

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At the moment the gun-grabbers are busy beating a drum for a non-sensical insurance scam, to make firearms very expensive to bear, and as a bonus get the arms back-door registered.

Hmmm I wonder where I've heard that before???   :pondering:
The libs/dems of today are the Quislings of former years. The cowards who would vote a fraud into office in exchange for handouts from the devil.

Here lies in honored glory an American soldier, known but to God

THE ESTABLISHMENT IS THE PROBLEM...NOT THE SOLUTION

Republicans Don't Need A Back Bench...They Need a BACKBONE!

Offline Cyber Liberty

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Hmmm I wonder where I've heard that before???   :pondering:

For unvaccinated, we are looking at a winter of severe illness and death — if you’re unvaccinated — for themselves, their families, and the hospitals they’ll soon overwhelm. Sloe Joe Biteme 12/16
I will NOT comply.
 
Castillo del Cyber Autonomous Zone ~~~~~>                          :dontfeed:

Offline sneakypete

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Judge allowed the suit against Remington owned Bushmaster over Sandy Hook.

@Smokin Joe

Some days it seems like I took a nap and woke up in "Bizarro World".

Quote
Next, farmers will be sued for growing corn used to make whiskey because some drunk ran someone over.


Wasn't it Shakespeare that said in reference to taking over a government,"The first thing we will do will be to hang all the lawyers."

He was a wise man.
Anyone who isn't paranoid in 2021 just isn't thinking clearly!

Offline Smokin Joe

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@Smokin Joe

Some days it seems like I took a nap and woke up in "Bizarro World".
You and me, both.
Quote
Wasn't it Shakespeare that said in reference to taking over a government,"The first thing we will do will be to hang all the lawyers."

He was a wise man.
Yep, and people should have listened.
How God must weep at humans' folly! Stand fast! God knows what he is doing!
Seventeen Techniques for Truth Suppression

Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

C S Lewis

Offline sneakypete

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You and me, both.Yep, and people should have listened.

@Smokin Joe

It's still not too late.

It is never too late to hang lawyers.
Anyone who isn't paranoid in 2021 just isn't thinking clearly!

Offline skeeter

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@Smokin Joe

Some days it seems like I took a nap and woke up in "Bizarro World".


No kidding. Now indians are selling rifles to the white man.

Paul Revere and the Raiders warned us this would happen.

Offline Cyber Liberty

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No kidding. Now indians are selling rifles to the white man.

Paul Revere and the Raiders warned us this would happen.

It would be interesting to see how a "sovereign" like the Navajo Nation gets dealt with as an arms manufacturer.  What are the implications for the 2nd Amendment?
For unvaccinated, we are looking at a winter of severe illness and death — if you’re unvaccinated — for themselves, their families, and the hospitals they’ll soon overwhelm. Sloe Joe Biteme 12/16
I will NOT comply.
 
Castillo del Cyber Autonomous Zone ~~~~~>                          :dontfeed:

Offline roamer_1

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No kidding. Now indians are selling rifles to the white man.

Paul Revere and the Raiders warned us this would happen.

I would very happily entrust arms manufacturing to the natives, rather than anyone east of Michigan and North of the Mason Dixon Line...

Offline roamer_1

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It would be interesting to see how a "sovereign" like the Navajo Nation gets dealt with as an arms manufacturer.  What are the implications for the 2nd Amendment?

Well, put it this way... I can STILL go down to the rez and buy M-80s by the box full, right over the counter.

Offline Elderberry

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Roundhill Group purchases Remington Arms’ Ilion plant

My Little Falls Oct 2, 2020

https://mylittlefalls.com/roundhill-group-purchases-remington-arms-ilion-plant/


Quote
Roundhill Group, LLC, an investment company with headquarters in Pennsylvania and Florida, announced that it is purchasing Remington Firearms. The purchase includes all long guns, shotguns, pistols, the firearms manufacturing facilities, museum, and gift shop.

With the acquisition, Roundhill Group LLC partner and spokesman, Jeff Edwards stated, “As is known, Roundhill Group LLC and a group of experienced firearms manufacturing and hunting industry professionals is in the process of purchasing Remington Firearms. Our intent with this acquisition is to return the company to its traditional place as an iconic American hunting brand. We intend to maintain, care for, and nurture the brand and all of the dedicated employees who have crafted these products over the years for outdoorsmen and women both here in the USA and abroad. More than anything we want to make Remington a household name that is spoken with pride.”

Edwards added, “The Roundhill Group is comprised of a group of individuals all of whom have years of experience in engineering, manufacturing, and marketing both in and outside of the firearms space. They are all life-long hunting advocates and staunch Remington brand loyalists. They will work tirelessly to ensure that this company takes its rightful place as the iconic American brand that it was and still is.”

More at link.