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Remington bankruptcy and sale to Navajo Nation.
#7883008
06/27/20 03:58 PM
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Joined: Aug 2005
Posts: 20,928
Sniper John
OP
gumshoe
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OP
gumshoe
Joined: Aug 2005
Posts: 20,928 |
Must be pretty bad to go under while gun sales are at an all time high. "Firearms manufacturer Remington Arms Co. is preparing to file for chapter 11 protection for the second time since 2018 and is in advanced talks for potential bankruptcy sale to the Navajo Nation...." https://www.msn.com/en-us/money/com...-seeks-sale-to-navajo-nation/ar-BB160Dmj
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Re: Remington bankruptcy and sale to Navajo Nation.
[Re: Sniper John]
#7883011
06/27/20 04:04 PM
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Joined: Feb 2007
Posts: 26,548
JCB
THF Celebrity
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That's what happens when profits become your only focus. Adios Remington. Going to be hard to revive that name after all the hell they have been through for nearly the last 2 decades.
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Re: Remington bankruptcy and sale to Navajo Nation.
[Re: Sniper John]
#7883018
06/27/20 04:14 PM
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Joined: Nov 2004
Posts: 2,408
rickt300
Veteran Tracker
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Veteran Tracker
Joined: Nov 2004
Posts: 2,408 |
MSN, need to see if it's true, they are not a reliable news source.
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Re: Remington bankruptcy and sale to Navajo Nation.
[Re: Sniper John]
#7883020
06/27/20 04:18 PM
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Joined: Nov 2004
Posts: 2,408
rickt300
Veteran Tracker
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Veteran Tracker
Joined: Nov 2004
Posts: 2,408 |
Yep maybe. Have three Remingtons and I hope the Model 7 and 700 remain in production.
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Re: Remington bankruptcy and sale to Navajo Nation.
[Re: Sniper John]
#7883024
06/27/20 04:32 PM
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Joined: Apr 2007
Posts: 60,414
BOBO the Clown
kind of a big deal
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kind of a big deal
Joined: Apr 2007
Posts: 60,414 |
Liability defense probably
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Re: Remington bankruptcy and sale to Navajo Nation.
[Re: Sniper John]
#7883043
06/27/20 04:57 PM
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Joined: Oct 2012
Posts: 25,230
Creekrunner
THF Celebrity
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Posts: 25,230 |
Navajo Nation. Interesting. The article attributed the recent rush in gun purchases to the "pandemic". Yeah, right. Pay no attention to the burning buildings folks.
...and have dominion over the fish of the sea, and over the fowl of the air, and over every living thing that moveth upon the earth. Gen. 1:28
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Re: Remington bankruptcy and sale to Navajo Nation.
[Re: rickt300]
#7883053
06/27/20 05:18 PM
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Joined: Mar 2010
Posts: 12,102
ntxtrapper
THF Celebrity
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Joined: Mar 2010
Posts: 12,102 |
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Re: Remington bankruptcy and sale to Navajo Nation.
[Re: rickt300]
#7883063
06/27/20 05:27 PM
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Joined: Aug 2005
Posts: 20,928
Sniper John
OP
gumshoe
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OP
gumshoe
Joined: Aug 2005
Posts: 20,928 |
MSN, need to see if it's true, they are not a reliable news source. The MSN page was forwarding a Wall Street Journal article which is also sourced from Reuters. I could not post the Wall Street Journal one as it requires a subscription. I had already fact checked it. It's real.
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Re: Remington bankruptcy and sale to Navajo Nation.
[Re: Sniper John]
#7883071
06/27/20 05:41 PM
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Joined: Apr 2007
Posts: 60,414
BOBO the Clown
kind of a big deal
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kind of a big deal
Joined: Apr 2007
Posts: 60,414 |
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Re: Remington bankruptcy and sale to Navajo Nation.
[Re: Sniper John]
#7883072
06/27/20 05:42 PM
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Joined: Mar 2013
Posts: 5,037
jetdad
THF Trophy Hunter
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THF Trophy Hunter
Joined: Mar 2013
Posts: 5,037 |
Liability and lawsuits involving the Navajo Nation would be interesting to say the least.
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Re: Remington bankruptcy and sale to Navajo Nation.
[Re: jetdad]
#7883076
06/27/20 05:43 PM
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Joined: Apr 2007
Posts: 60,414
BOBO the Clown
kind of a big deal
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kind of a big deal
Joined: Apr 2007
Posts: 60,414 |
Liability and lawsuits involving the Navajo Nation would be interesting to say the least. Probably why they are even in consideration really!
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Re: Remington bankruptcy and sale to Navajo Nation.
[Re: Sniper John]
#7883078
06/27/20 05:45 PM
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Joined: Oct 2009
Posts: 12,203
wp75169
THF Celebrity
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Once the Indians own it will the Feds be able to regulate them? Taxes?
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Re: Remington bankruptcy and sale to Navajo Nation.
[Re: Sniper John]
#7883089
06/27/20 05:55 PM
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Joined: Oct 2012
Posts: 25,230
Creekrunner
THF Celebrity
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The Navajo have always fascinated me. Only tribe that "we" didn't make move. And, as far as I know, hasn't allowed casinos yet on the big rez. I sold one piece of equipment to them up in the "checkerboard" of NW New Mexico years ago. I got along great with the guys.
...and have dominion over the fish of the sea, and over the fowl of the air, and over every living thing that moveth upon the earth. Gen. 1:28
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Re: Remington bankruptcy and sale to Navajo Nation.
[Re: Sniper John]
#7883101
06/27/20 06:12 PM
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Joined: Mar 2013
Posts: 5,037
jetdad
THF Trophy Hunter
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Posts: 5,037 |
Indian nations have sovereign immunity. I think the only way to sue them is with their permission or congressional approval, which is rarely given.
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Re: Remington bankruptcy and sale to Navajo Nation.
[Re: Sniper John]
#7883103
06/27/20 06:16 PM
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Joined: Oct 2012
Posts: 25,230
Creekrunner
THF Celebrity
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Posts: 25,230 |
They'd definitely provide some political cover for an old name in firearms that I'd hate to see disappear. But, in the end, that's capitalism. A business managed poorly shouldn't survive.
...and have dominion over the fish of the sea, and over the fowl of the air, and over every living thing that moveth upon the earth. Gen. 1:28
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Re: Remington bankruptcy and sale to Navajo Nation.
[Re: Sniper John]
#7883106
06/27/20 06:26 PM
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Joined: Mar 2013
Posts: 5,037
jetdad
THF Trophy Hunter
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THF Trophy Hunter
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Posts: 5,037 |
Hedge funds generally do not make good stewards of most businesses they acquire. Going after the quick buck rather than the long term appreciation. The brand usually winds up a casualty.
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Re: Remington bankruptcy and sale to Navajo Nation.
[Re: jetdad]
#7883111
06/27/20 06:37 PM
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Joined: Apr 2007
Posts: 60,414
BOBO the Clown
kind of a big deal
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kind of a big deal
Joined: Apr 2007
Posts: 60,414 |
Indian nations have sovereign immunity. I think the only way to sue them is with their permission or congressional approval, which is rarely given. Yelp, as much as I dislike Res Ideologies it actually a really smart business move. If they move all MFG to the res it will pretty much send a middle finger to the anti gun lobby
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Re: Remington bankruptcy and sale to Navajo Nation.
[Re: Sniper John]
#7883148
06/27/20 07:43 PM
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Joined: May 2019
Posts: 274
Graycard
Bird Dog
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Bird Dog
Joined: May 2019
Posts: 274 |
Let's call it what it is, poor management.
I would like to see the survival of a few of their products, but it would require relocation and a new management team.
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Re: Remington bankruptcy and sale to Navajo Nation.
[Re: Sniper John]
#7883156
06/27/20 07:50 PM
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Joined: Aug 2006
Posts: 11,657
colt45-90
Texas colt45
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Texas colt45
Joined: Aug 2006
Posts: 11,657 |
after their quality went to crap, could care less
hold on Newt, we got a runaway
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Re: Remington bankruptcy and sale to Navajo Nation.
[Re: Sniper John]
#7883183
06/27/20 08:32 PM
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Joined: Jan 2019
Posts: 3,670
10 Gauge
Extreme Tracker
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Extreme Tracker
Joined: Jan 2019
Posts: 3,670 |
The biggest shareholders forced the sale and bankruptcy of Remington to turn a big profit fast, and left them holding the debt. I am not 100% certain but I would not be suprized if it had something to do with Paul Singer, who basically did it to Cabela's.
Remington have been digging in deep and doing everything they can to remain in business ever since. And whether they are primarily profit driven, or not, as far as I know there is not another gun maker that is as involved in conservation efforts, who also is creating American jobs and offering American made rifles.
And the guns are really not poor quality as some have said. Stop comparing the 783, ADL, or SPS to Tikka. It's not apples to apples.
Instead, pick up a CDL and look it over, work the action, see what you get for $800-$900. Nice walnut, nice steel sights, etc.
I am not a fan boy by any means, I have owned altogether in my lifetime maybe two Remington rifles, and have bought and sold dozens of others over the years.
I think we may be selling them short. I hope that they can strike a deal with the Navajo and that Remington and the Navajo will prosper.
Last edited by Bryan C. Heimann; 06/27/20 08:33 PM.
1 Thessalonians 4:11-14
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Re: Remington bankruptcy and sale to Navajo Nation.
[Re: Sniper John]
#7883195
06/27/20 09:00 PM
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Joined: Mar 2013
Posts: 5,037
jetdad
THF Trophy Hunter
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THF Trophy Hunter
Joined: Mar 2013
Posts: 5,037 |
Could be a very positive thing if it comes about. Not having to worry so much about civil liability is a monumental plus. I've owned 1100's since I bought one as a kid in 1967. Just bought a .410 1100. I hope they are hugely successful and they make it happen.
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Re: Remington bankruptcy and sale to Navajo Nation.
[Re: Sniper John]
#7883218
06/27/20 09:34 PM
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Joined: Nov 2008
Posts: 9,952
LFD2037
THF Trophy Hunter
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Joined: Nov 2008
Posts: 9,952 |
How do you claim bankruptcy, twice, much less in 2 years, in one of the greatest economic times in history?
R.I.P. CPO Matt Mills-(DEVGRU)- You will NEVER be forgotten! 10-25-75 / 8-6-11 *K.I.A.*
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Re: Remington bankruptcy and sale to Navajo Nation.
[Re: LFD2037]
#7883225
06/27/20 09:43 PM
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Joined: Apr 2007
Posts: 60,414
BOBO the Clown
kind of a big deal
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kind of a big deal
Joined: Apr 2007
Posts: 60,414 |
How do you claim bankruptcy, twice, much less in 2 years, in one of the greatest economic times in history? Simple the backdoor to the safe was unlocked
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Re: Remington bankruptcy and sale to Navajo Nation.
[Re: 10 Gauge]
#7883343
06/28/20 12:27 AM
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Joined: Dec 2008
Posts: 41,157
J.G.
THF Celebrity
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THF Celebrity
Joined: Dec 2008
Posts: 41,157 |
And the guns are really not poor quality as some have said. Stop comparing the 783, ADL, or SPS to Tikka. It's not apples to apples.
Instead, pick up a CDL and look it over, work the action, see what you get for $800-$900. Nice walnut, nice steel sights, etc.
700, you might get misaligned scope base holes, no threads in them, damn sure not a square action face, and it may or may not shoot well, after you address the screw holes. Oh, and they haven't been able to make a trigger worth a damn for over 20 years. You paid $800 for maybe a P.O.S., or maybe a nice rifle. It depends on what day it was built, and who was in charge of Q.C. This is the hole they have dug, they can lie in it.
800 Yard Steel Range Precision Rifle Instruction Memberships and Classes Available
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Re: Remington bankruptcy and sale to Navajo Nation.
[Re: Sniper John]
#7883362
06/28/20 12:49 AM
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Joined: Dec 2009
Posts: 473
killen
Bird Dog
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Bird Dog
Joined: Dec 2009
Posts: 473 |
i have owned lots of remingtons never had a problem
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