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Remington New York Factory closes
#4086597
02/18/24 07:14 PM
02/18/24 07:14 PM
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Joined: Aug 2001
Posts: 64,150
Luverne, AL
Skinny
OP
GUVNER
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OP
GUVNER
Joined: Aug 2001
Posts: 64,150
Luverne, AL
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They had already moved HQ down here and all, but the NY shop itself is closing its doors. That is how liberals achieve gun control. Can't have what you cant buy. https://twitter.com/Type07Safety/status/1759112718450082257
Never Trust Government
"You can be broke but you cant be poor." Ruthie-May Webster
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Re: Remington New York Factory closes
[Re: FreeStateHunter]
#4086611
02/18/24 07:32 PM
02/18/24 07:32 PM
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Joined: Mar 2003
Posts: 26,453
Helena
3toe
Talking Turkey
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Talking Turkey
Joined: Mar 2003
Posts: 26,453
Helena
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I thought I read they were moving to Georgia because of the restrictive gun laws in NY They moved to Huntsville.
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Re: Remington New York Factory closes
[Re: Skinny]
#4086614
02/18/24 07:36 PM
02/18/24 07:36 PM
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Joined: Apr 2022
Posts: 1,831
Chambers Cnty./Ft. Morgan Ala.
Buckwheat
8 point
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8 point
Joined: Apr 2022
Posts: 1,831
Chambers Cnty./Ft. Morgan Ala.
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Once they attempted a Gas Gun----Shotgun th' Quality sloooooowly went downhill due to mass production of "Stamped" Parts.....same with the 742 Rifle. A 50/50 Chance you were gonna get a good one. Bolt Rifles were okay.......hard to screw that up.....along with the 870 Pump. MADE a LOT of $$$$$$$ though as they were Blue-Collar Affordable......But th' Ship eventually crrrrrrrashed.
Last edited by Buckwheat; 02/18/24 07:38 PM.
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Re: Remington New York Factory closes
[Re: Swamp Monkey]
#4086634
02/18/24 07:58 PM
02/18/24 07:58 PM
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Joined: Aug 2001
Posts: 64,150
Luverne, AL
Skinny
OP
GUVNER
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OP
GUVNER
Joined: Aug 2001
Posts: 64,150
Luverne, AL
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Guys- Remington is actively building the plant in Lagrange, Ga. (Troup County) Thats even further down here. We almost have Auburn connected to Atlanta the way things are growing in that corridor.
Never Trust Government
"You can be broke but you cant be poor." Ruthie-May Webster
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Re: Remington New York Factory closes
[Re: 3toe]
#4086729
02/18/24 11:15 PM
02/18/24 11:15 PM
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Joined: Dec 2002
Posts: 51,973
Round ‘bout there
Clem
Mildly Quirky
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Mildly Quirky
Joined: Dec 2002
Posts: 51,973
Round ‘bout there
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I thought I read they were moving to Georgia because of the restrictive gun laws in NY They moved to Huntsville. Remington moved to Huntsville in the mid-2010s and then declared bankruptcy twice in three years. I think that was 2018 and 2021. It was sold off in pieces. Ruger bought two brands, Vista bought the ammo, others were sold. The holding company and board were idiots. They severely mismanaged things and almost killed a 200-yo American icon. The Hsv plant was hamstrung in so many ways and management constantly had to battle the union in New York at the original plant. The move to Hsv also was a financial farce; they basically lied to the city, county and state officials about job hires and many other things. The Remington name and assets were purchased by a small group that is doing the right things. They’re slowly rebuilding relationships and are putting out good products again.
"Hunting Politics are stupid!" - Farm Hunter
"Bible says you shouldn't put sugar in your cornbread." Dustin, 2013
"Best I can figure 97.365% of the general public is a paint chip eating, mouth breathing, certified dumbass." BCLC, 2020
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Re: Remington New York Factory closes
[Re: UncleHuck]
#4086893
02/19/24 11:54 AM
02/19/24 11:54 AM
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Joined: Apr 2000
Posts: 15,910
Elmore County
Frankie
Old Mossy Horns
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Old Mossy Horns
Joined: Apr 2000
Posts: 15,910
Elmore County
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Greatly simplified, but here's what really happened -
The only folks who benefited from Remington being sold to the venture capital folks were the venture capital folks.
They bought a company for a lot of money that had very little debt. They then forced the low-debt company to borrow a lot of money to fund expansions/acquisitions/etc. More money than the original transaction.
Then, the VC people ran it into the ground, as they had their money back plus a bunch. Reminton was unable to recover from the crippling debt and lost expertise of the previous senior management fired by the VC folks.
So what you're saying is , it was more money to be made by destroying the company than actually running the company
Last edited by Frankie; 02/19/24 11:55 AM.
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Re: Remington New York Factory closes
[Re: Frankie]
#4086909
02/19/24 12:32 PM
02/19/24 12:32 PM
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Joined: Aug 2001
Posts: 64,150
Luverne, AL
Skinny
OP
GUVNER
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OP
GUVNER
Joined: Aug 2001
Posts: 64,150
Luverne, AL
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Greatly simplified, but here's what really happened -
The only folks who benefited from Remington being sold to the venture capital folks were the venture capital folks.
They bought a company for a lot of money that had very little debt. They then forced the low-debt company to borrow a lot of money to fund expansions/acquisitions/etc. More money than the original transaction.
Then, the VC people ran it into the ground, as they had their money back plus a bunch. Reminton was unable to recover from the crippling debt and lost expertise of the previous senior management fired by the VC folks.
So what you're saying is , it was more money to be made by destroying the company than actually running the company Yes, that is exactly what he is saying. Even more annoying is that is was less than a dozen people who made money by killing the company.
Never Trust Government
"You can be broke but you cant be poor." Ruthie-May Webster
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Re: Remington New York Factory closes
[Re: Skinny]
#4086915
02/19/24 12:42 PM
02/19/24 12:42 PM
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Joined: Jul 2010
Posts: 9,172
B'ham
Goatkiller
14 point
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14 point
Joined: Jul 2010
Posts: 9,172
B'ham
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Hopefully they will figure out how to make a good rifle again they put some real POS guns on the market in the last 20 years which is why they went out of business.
Hope they get it figured out it's an iconic American company but when you produce garbage you go out of business. That's just how that works.
I'm still trying to figure out what all those people who bought $1,000+ POS Remington Shotgun produced in the last couple decades are going to do when they realize they made a stupid decision. Those will be worthless here soon hopefully given that their quality has to improve. Otherwise they will be bankrupt again here shortly.
No government employees were harmed in the making of this mess.
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Re: Remington New York Factory closes
[Re: Frankie]
#4086919
02/19/24 12:51 PM
02/19/24 12:51 PM
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Joined: Sep 2012
Posts: 18,112
North AL
AU338MAG
Old Mossy Horns
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Old Mossy Horns
Joined: Sep 2012
Posts: 18,112
North AL
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Greatly simplified, but here's what really happened -
The only folks who benefited from Remington being sold to the venture capital folks were the venture capital folks.
They bought a company for a lot of money that had very little debt. They then forced the low-debt company to borrow a lot of money to fund expansions/acquisitions/etc. More money than the original transaction.
Then, the VC people ran it into the ground, as they had their money back plus a bunch. Reminton was unable to recover from the crippling debt and lost expertise of the previous senior management fired by the VC folks.
So what you're saying is , it was more money to be made by destroying the company than actually running the company Yes. Remember the Brunos grocery stores? Same deal.
Dying ain't much of a living boy...Josey Wales
Molon Labe
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Re: Remington New York Factory closes
[Re: Skinny]
#4086958
02/19/24 02:47 PM
02/19/24 02:47 PM
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Joined: Jan 2003
Posts: 12,726
behind my Dillon
dave260rem!
Skinny’s Ex
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Skinny’s Ex
Joined: Jan 2003
Posts: 12,726
behind my Dillon
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Handled the new 870 the other day. Felt like the old 870.
Skinny is my EX.Alcohol was involved.
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Re: Remington New York Factory closes
[Re: Frankie]
#4086965
02/19/24 03:27 PM
02/19/24 03:27 PM
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Joined: Jan 2018
Posts: 4,144
GA
UncleHuck
10 point
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10 point
Joined: Jan 2018
Posts: 4,144
GA
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Greatly simplified, but here's what really happened -
The only folks who benefited from Remington being sold to the venture capital folks were the venture capital folks.
They bought a company for a lot of money that had very little debt. They then forced the low-debt company to borrow a lot of money to fund expansions/acquisitions/etc. More money than the original transaction.
Then, the VC people ran it into the ground, as they had their money back plus a bunch. Reminton was unable to recover from the crippling debt and lost expertise of the previous senior management fired by the VC folks.
So what you're saying is , it was more money to be made by destroying the company than actually running the company Maybe not more money, but certainly a faster payout.
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Re: Remington New York Factory closes
[Re: UncleHuck]
#4087010
02/19/24 04:22 PM
02/19/24 04:22 PM
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Joined: Aug 2001
Posts: 64,150
Luverne, AL
Skinny
OP
GUVNER
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OP
GUVNER
Joined: Aug 2001
Posts: 64,150
Luverne, AL
|
Greatly simplified, but here's what really happened -
The only folks who benefited from Remington being sold to the venture capital folks were the venture capital folks.
They bought a company for a lot of money that had very little debt. They then forced the low-debt company to borrow a lot of money to fund expansions/acquisitions/etc. More money than the original transaction.
Then, the VC people ran it into the ground, as they had their money back plus a bunch. Reminton was unable to recover from the crippling debt and lost expertise of the previous senior management fired by the VC folks.
So what you're saying is , it was more money to be made by destroying the company than actually running the company Maybe not more money, but certainly a faster payout. Sorta. The VC people went into the Remington investment with the sole purpose of making money by quickly killing the company. They also made money afterwards by showing off to their liberal friends that they killed a gun maker, and in return they got more access to deals like Remington. They also did the same thing with other outdoor and "gun" related businesses. Its a trendy money making model that the liberal wealthy have gotten into called "activist investing". The goal is to invest in a traditional American company (the kind of company without Unions that republicans like) and set the company up for failure. Then the "investors" start shorting the company while the board directors set the company up for fast failure.
Never Trust Government
"You can be broke but you cant be poor." Ruthie-May Webster
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