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The
Below Comments Relate to this Newslink:
Is Remington Outdoor about to go bankrupt?
Submitted by:
jac
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What was once an upbeat mood in the gun industry, fostered by a multi-year rally in weapon sales, has now become a major hangover. The most obvious indicator of that change: Privately-held Remington Outdoor is now at risk of declaring bankruptcy after a collapse in sales and profits.
The rifle and shotgun manufacturer's third-quarter sales plunged 41% as demand for firearms dried up. That led Remington to report adjusted earnings before interest, taxes, depreciation, and amortization that were 78% lower year over year.
And with its credit rating in the trash bin, the future is bleak for "America's oldest gunmaker".
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Comment by:
MarkHamTownsend
(12/9/2017)
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Remington, now part of Cerburus , has become it's own enemy. A few years ago it produced the R51 automatic, a modern version of an old gun, but they royally scwewed the pooch on quality assurance, causing many returns and a 2.0 version. Many gun people are leery of its products....the model 700 rifle due to its trigger....less than stellar in the model 870 shotgun..... If they'd make good guns, and cater to their customers wants, they'd be in a better position to weather a downturn in purchasing. |
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QUOTES
TO REMEMBER |
I do believe that where there is a choice only between cowardice and violence, I would advise violence. Thus when my eldest son asked me what he should have done had he been present when I was almost fatally assaulted in 1908 [by an Indian extremist opposed to Gandhi's agreement with Smuts], whether he should have run away and seen me killed or whether he should have used his physical force which he could and wanted to use, and defend me, I told him it was his duty to defend me even by using violence. Hence it was that I took part in the Boer War, the so-called Zulu Rebellion and [World War I]. Hence also do I advocate training in arms for those who believe in the method of violence. I would rather have India resort to arms in order to defend her honor than that she should in a cowardly manner become or remain a helpless witness to her own dishonor. — Mohandas K. Gandhi, Young India, August 11, 1920 from Fischer, Louis ed.,The Essential Gandhi, 1962 |
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