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 The end for Remington ? 
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Post The end for Remington ?
Remington is the largest manufacturer of rifles and the second largest manufacturer of shotguns. Its storied history stretches all the way back to 1816, nearly 40 years before Smith & Wesson or Colt Manufacturing.

Today, debt on the company's books has ballooned to almost $1 billion, the result of a failed IPO bid in 2011 and outrage over the Sandy Hook shootings a year later. That tragedy caused some of Cerberus' biggest investors to demand it sell the firearms company or cash them out, but it was unable to find a buyer. Remington ended up taking on debt to buy shares from Cerberus.

After this latest earnings disaster, the Standard & Poor's ratings agency cut Remington's corporate credit rating two full notches, from the already junk bond status of CCC+ to CCC-, a move that will force it to pay even more to borrow money, even as its high-yield debt becomes less attractive to investors.

With the firearms and ammunition manufacturer burning through cash as a result of falling sales, S&P expects it will undertake a restructuring within the next year.

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Fri Dec 01, 2017 7:20 am
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Post Re: The end for Remington ?
Ridiculous that they have been so poorly run that they are about to fold up. They just had 10 years of an incredible market and clearl6 should have positioned themselves better than this


Fri Dec 01, 2017 6:53 pm
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Post Re: The end for Remington ?
LB200 wrote:
Ridiculous that they have been so poorly run that they are about to fold up. They just had 10 years of an incredible market and clearl6 should have positioned themselves better than this


Cerberus took over and forced them to borrow money and buy Cerberus stocks... They were
making 190 million annually under Obama threats of gun laws and now down under 100 million
in profits annually...

Problem is big debt structure and junk bond rating - interest is now more that profits...

Could be cut up like beef and sold in chunks - pistols / rifles / shotguns / ammunition - etc...

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Fri Dec 01, 2017 7:10 pm
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Post Re: The end for Remington ?
Welcome to the liberal democrat way of getting their way(and of course George Soros). If the libturds have their way, firearms and ammo will be made for government purchase only, leaving out citizens!!! Think back a few years, Homeland Security under Obama bought like over 10 million rounds, Homeland Security?????Really???????

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Sat Dec 02, 2017 9:34 am
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Post Re: The end for Remington ?
wait... haven't the threats of gun laws caused record firearm sales across the country the last 10 years? I have gun shops popping up all over by me. These threats are only threats, and very few (if any) anti-gun laws have passed. I guess California is an exception....

where did you find this article?


Tue Dec 05, 2017 10:42 am
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Post Re: The end for Remington ?
And Obama caused the price of lead to triple, making ammo cost go up!

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Tue Dec 05, 2017 11:02 am
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Post Re: The end for Remington ?
Buckmark311 wrote:
wait... haven't the threats of gun laws caused record firearm sales across the country the last 10 years? I have gun shops popping up all over by me. These threats are only threats, and very few (if any) anti-gun laws have passed. I guess California is an exception....

where did you find this article?



You can find dozens of articles on several financial websites

https://www.bloomberg.com/news/articles ... rms-fervor

Here is an older article from Bloomberg

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Tue Dec 05, 2017 10:15 pm
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Post Re: The end for Remington ?
That sucks, considering how long they have been running and have made some good products over the years.

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Tue Dec 05, 2017 10:35 pm
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Post Re: The end for Remington ?
LB200 wrote:
Ridiculous that they have been so poorly run that they are about to fold up. They just had 10 years of an incredible market and clearl6 should have positioned themselves better than this


The concealed carry and AR15 market has been in the stratosphere for the last ten years and, somehow, Remington managed to market exactly ---zero--- products to capitalize on it. They bought Bushmaster, and the Bushmaster ACR/Masada fell on its face.

Then, inexplicably, they bought Marlin, a rifle company known for its lever actions. I LOVE lever action rifles but I'm in the minority; most people just aren't interested in one. Beyond buying Marlin, they moved the manufacturing facility for the lever actions and fired all the people who assembled them for 30 years, and the quality control of the new rifles was horrible. Even fewer people wanted those levers and the market for the older ones made in North Haven went through the roof, simply because Remington didn't make them.

The final straw was that they somehow managed to fail to bring one handgun model to the market that was worth a damn. The market was incredible and they managed to miss the entire opportunity.

The only thing they managed to do right was patent the VersaMax gas system, which they didn't even develop----Benelli did.


Wed Dec 06, 2017 7:13 pm
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Post Re: The end for Remington ?
Todays mega-corp management by Cerberus had them extending
themselves with aquisitions to buy other companies... Just so that
Cerberus could carve out their retirement programs and sell off
assets to benefit Cerberus shareholders topped off with forcing
Remington to borrow to buy stock shares in Cerberus has led to
their current problems...

Profits at Remington have been 90 - 120 million annually and this
is the first year of reduced profits... Not bad for a company that
Cerberus originally bought for just over 200 million... Sadly it seems
they plan to carve them up like sushi now...

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Thu Dec 07, 2017 8:28 am
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Post Re: The end for Remington ?
Those are tremendous numbers compared to Smith & Wesson...

The stock price for American Outdoor Brands plunged as much as 20% in pre-market trading following the gun company's dismal earnings report. American Outdoor Brands (AOBC), a major gun manufacturer which owns the Smith & Wesson brand, reported a 90% drop in quarterly profit when compared to the same period last year. Profits went from $32 million last year to $3.2 million.

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Fri Dec 08, 2017 10:05 pm
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