Change in a Changing World: Remington Facing Bancrupcy Again

[Ozark mike]

Remington is a crap brand anymore but a history icon that should have been steadied by people who loved what they once was instead of ran through the mud and hung out to dry by bean counters kinda like what happened to international harvester, packard, evinrude and many others sad to see em go

[bedbugbilly]

Too bad but not unexpected. An old and well established company that at one time put out quality firearms . . . . funny how the technology of machining . . . CNC, etc. advanced precision but somehow instead increasing quality, it dropped. Bean counters get involved . . . "build 'em cheaper" but get a higher profit margin . . . . "creative accounting" to follow the completely overdone, confusing and loop-hole tax code that our Congress has created over the years . . . remember the promise by certain Congress members that they would re-write the tax code and our personal tax forms would be the size of a postcard? Yea . . right . . . . One has to wonder the actual make-up of the corporate structure of Remington . . . . how many overpaid upper white collar workers . . how many "corporate benefits" and "bonuses" . . . . all draining the cash assets of the company.

It's strange that Remington, Marlin, Colt, etc. have all had financial issues but Ruger . . . which I mean no disrespect when I say this . . . Tuger . . . which builds good working man/woman guns that function and last . . . yea . . . they have gone to the tupperware of the this time . . . they offer excellent customer service, etc. . . . and Henry . . . "Made u Anerica" . . . .which produces well built firearms that actually reminds you of the quality that Remington used to make . . . beautiful wood stocks, good fit and finish . . . excellent customer service, etc. . . . . how is it that they still are able to survive? Do you think they might be "doing something right"?

Unfortunately, if the Left Socialist Party of Democrats get isn office, one of their agendas is to dow away with the firearms industry in this country and they will make it a priority. Of course Americans will be put out of work if they do . . just like those in the fossil fuel industries as well as other industries that create jobs for Americans. Renenber that as well as the possible loss of Remington, Colt, etc. the next time you hear Pelosi say, "We are the only party that cares about the American citizens" . . . . .

[pietro]

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Although the Remington division where the stocks were made have already laid off over 60 workers in MO, , Remington is scheduled to close the Rockingham (Madison) NC facility on Sept 29, laying off over 800 more workers there.

https://www.wxii12.com/article/remin...kers/33548954#

https://www.wfmynews2.com/article/ne...b-090f6685eaf8

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[elmacgyver0]

This is Nothing New In the US Corporate business strategy . When I was working In corporate America, the main trick is to completely Run @ a loss but Yet show a Paperless profit. All major companies learn very quickly to expense all the profit or pay tax on it. This is a loop hole in the tax system for corporate america. Buy new Company Cars, Boats, and other perks to expend the cash rather that pay uncle sam. This is all legal . In simple terms, The guy driving around In his company truck, or leasing one having his company paying For it
This has been going on for years and nothing going to be done about
So the next time you see Your Construction pal driving his truck all Over , yes he screwing the government as well. so it's not only big Companies

So trying to keep a little more of your own money that you worked to own is screwing the government?
The loop holes that are in place that allow this screwing were put in place by the politicians to screw tax payers in the first place.

[1hole]

For the last 60-70 years the biggest obstacle big American business has faced is big American management. Every since big outfits started turning management over to university trained "Masters of Business Administration" (MBA) every big company I know of has fallen on hard times and most haven't survived and most of them due to a reduction in the quality of their products; I think there's a message to be found somewhere in that and you don't have to be a vastly overpaid MBA to find it!

Blaming the Chinese for the business impact of illogical errors of American management AND our deceptive Federal tax codes AND excessive government regulations AND the general reduction of the American work ethic is as silly as blaming Trump for Covid 19 ... but it still happens.

[ioon44]

Perhaps Trump will bail them out, after all, past a president has done similar.

Slim

Now that would make Lib heads explode, Go for it.

[Petrol & Powder]

Lawsuits cost money even when you prevail in the end.

Higher minimum wages result in companies either employing fewer people or passing that expense onto their customers.

Government regulations increase manufacturing costs, those costs get passed onto the customers.

When the government taxes a company the COMPANY doesn't pay those increased taxes - their CUSTOMERS do.
Companies don't pay taxes, companies COLLECT taxes. Consumers pay those taxes.

Remington moved their manufacturing to markets with lower labor costs but it was too late. Remington had a lot of debt and was banking on their name more than fixing their business. Remington had some mismanagement but they also had some tough competition. Between the lawsuits, high labor costs, increased acquisitions and increased competition - Remington was in trouble long before Cerberus acquired them. That ship had been sinking for some time.

Eastman Kodak was once a powerhouse in the world of photography. Between film sales and film developing, they had over 90% of the market. When digital photography came along, they declined to embrace it, instead they banked on their domination of the market. They blew it.
Like Kodak, Remington held a huge market share but they banked on their name to remain competitive. Some of that is mismanagement and some of that is just shear arrogance.