Remington tells employees Do not come back to work

In any manufacturing endeavor, you need good management, engineering and employees.
It only take a handful of idiots to hurt badly a good company - look at Boeing.
 
Donny Fenn1 said:
That's pretty much my take. Why they didn't move to Arizona, Texas or one of the free states when they had the chance is beyond me.
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Cerberus moved operations to Huntsville Alabama. Between Cerberus and Remington was a holding company that borrowed hundreds of millions to buy back shares from Cerberus. Then Remington bought out the holding company, acquiring all that debt. So, yes, Cerberus basically looted Remington at a time when Remington's various brands/operations needed to finish re-organizing themselves.
 
rifleman762 said:
Cerberus moved operations to Huntsville Alabama. Between Cerberus and Remington was a holding company that borrowed hundreds of millions to buy back shares from Cerberus. Then Remington bought out the holding company, acquiring all that debt. So, yes, Cerberus basically looted Remington at a time when Remington's various brands/operations needed to finish re-organizing themselves.
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I met a guy from Huntsville once. He proudly described it as a technological Oasis in the middle of a red neck desert. He looked every bit like someone you would have write off as a red neck, but he held two PHDs in essentially Rockets and Surgery.

The business with Cerberus was classic vulture capitalism. Remington's brand could easily survive whatever quality control issues that people like to use to malign a company with centuries of experience making firearms. The bankruptcy is largely related to being stripped of its assets by its owners, and left unable to manage its operations. The fits and starts of the Obama era gun boom and the Trump era gun market crash didn't help things. Even healthy companies are struggling with that.

Sadly the government has allowed a lot of good and long standing companies get destroyed by these financial pirates masquerading as investors.
 
Cameron SS said:
I met a guy from Huntsville once. He proudly described it as a technological Oasis in the middle of a red neck desert. He looked every bit like someone you would have write off as a red neck, but he held two PHDs in essentially Rockets and Surgery.

The business with Cerberus was classic vulture capitalism. Remington's brand could easily survive whatever quality control issues that people like to use to malign a company with centuries of experience making firearms. The bankruptcy is largely related to being stripped of its assets by its owners, and left unable to manage its operations. The fits and starts of the Obama era gun boom and the Trump era gun market crash didn't help things. Even healthy companies are struggling with that.

Sadly the government has allowed a lot of good and long standing companies get destroyed by these financial pirates masquerading as investors.
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More often than not, private equity buys a struggling company, streamlines/turns it around (including necessary layoffs, unfortunately), and then sells it off at a profit. They're not all pirates but some of them give the entire industry a bad name.
 
Cameron SS said:
I met a guy from Huntsville once. He proudly described it as a technological Oasis in the middle of a red neck desert. He looked every bit like someone you would have write off as a red neck, but he held two PHDs in essentially Rockets and Surgery.

The business with Cerberus was classic vulture capitalism. Remington's brand could easily survive whatever quality control issues that people like to use to malign a company with centuries of experience making firearms. The bankruptcy is largely related to being stripped of its assets by its owners, and left unable to manage its operations. The fits and starts of the Obama era gun boom and the Trump era gun market crash didn't help things. Even healthy companies are struggling with that.

Sadly the government has allowed a lot of good and long standing companies get destroyed by these financial pirates masquerading as investors.
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"but he held two PHDs in essentially Rockets and Surgery" .... so 'Rocket Science' and 'Brain Surgery' ... sure he did. :) ... I image the legal fees and the 7.5 million rifles Remington had to retrofit with new triggers had some impact....
 
Freyr_255 said:
I would love to know how Remington keeps going bankrupt. You'd think this year would have been the one year a firearms company couldn't lose money.
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There was an article in the New York Times about it, which explains that really they are a victim of vulture capitalism's i.e Cerberus Capital Management. This company formed a holding company to buy Remington and basically made a lot of money off Remington before allowing it to go Bankrupt for a second time.
 
Cameron SS said:
Because Ilion New York is in New York.
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Im not sure that really had much to do with it, considering the parent company.

Fassteel said:
What Rem. ammo is pretty good...??
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The Rem Corelokt is often regarded as the best of the cheap factory hunting ammo from the big 3 makers - the others being your Federal Blue Box and Winchester Super X. I've only shot game with the Corelokt out of that list, but it did the job!
 
LouF said:
I put a deposit down with Dante Sports to order a Remington 1100 Competition .Wonder if I 'll ever see that shot gun?ovrecf:P:
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If it hasn't been made yet, probably not... If thats something that is sitting on the shelf at a distributor you might be in luck?
 
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