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WinstonSmith4740

(3,048 posts)
Sat Aug 4, 2018, 04:23 PM Aug 2018

OK, before we start celebrating Remington declaring bankruptcy...

https://www.theguardian.com/us-news/2018/feb/13/remington-bankruptcy-guns-trump-slump-sales

I need someone to explain this to me. How does a company go from an 8 year "golden era of sales under Barack Obama" to bankruptcy in less than two years, and have accumulated almost a billion dollars in DEBT? What kind of bonuses were they handing out? How much did they donate to rethugs?

Calling Robert Mueller...
11 replies = new reply since forum marked as read
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OK, before we start celebrating Remington declaring bankruptcy... (Original Post) WinstonSmith4740 Aug 2018 OP
Funny How NRA Also Says It's Out Of Money Me. Aug 2018 #1
I sent them my "warmest condolences" TheCowsCameHome Aug 2018 #4
not enuff. pls send them thoughts and prayers too :-) nt msongs Aug 2018 #6
I'm all "Thoughts and Prayered" out - TheCowsCameHome Aug 2018 #8
That article is from February oberliner Aug 2018 #2
Market saturation is one reason, but your question does make sense. dameatball Aug 2018 #3
Remington faces enormous liabilities from faulty triggers on their most popular rifles RockRaven Aug 2018 #5
Trumpers feel less paranoid under Trump and see no need to buy more bucolic_frolic Aug 2018 #7
Largely true Adrahil Aug 2018 #11
Maybe Remington Turbineguy Aug 2018 #9
Cerberus Capital Management, 2007 n/t sl8 Aug 2018 #10

dameatball

(7,380 posts)
3. Market saturation is one reason, but your question does make sense.
Sat Aug 4, 2018, 04:29 PM
Aug 2018

Guns have a long shelf life and are expensive. Most (normal) people reach a point where further purchases make no sense.

I may be wrong because I haven't researched it, but I am guessing that gun sales increased every time a Democrat was in office because of the "they wanna take my guns away" crowd. At least in the past several decades.

RockRaven

(14,784 posts)
5. Remington faces enormous liabilities from faulty triggers on their most popular rifles
Sat Aug 4, 2018, 04:32 PM
Aug 2018

which have been the most popular hunting rifles in the US for decades. They've done a series of not-really-recall recalls without actually solving the problem. Many people have died and there are many lawsuits about the matter, including a class action suit whose settlement involves replacing the trigger on every single one of these rifles they've ever sold (ruinously expensive if every gun owner actually did it).

I do wonder if they didn't managed their company in such a way to engineer an inevitable bankruptcy as one way to get out from under this enormous liability going forward.

https://en.wikipedia.org/wiki/Remington_Model_700#Misfiring

bucolic_frolic

(42,676 posts)
7. Trumpers feel less paranoid under Trump and see no need to buy more
Sat Aug 4, 2018, 04:39 PM
Aug 2018

Their minds were manipulated under Obama into believing he was going to take their guns.

Their childish emotions were used to spike gun sales and profits for those companies.

 

Adrahil

(13,340 posts)
11. Largely true
Sat Aug 4, 2018, 06:52 PM
Aug 2018

Some right wing nuts I am distantly related to took on a bunch of debt to buy guns under Obama and in anticipation of a Clinton Presidency. They are overleveraged and aten’t buying because they do jot fear gun restrictions under Trump. Remington is not the only company in trouble.

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