Remington To Sell?
BY Herschel Smith
4 years, 4 months ago
Remington Arms, America’s oldest gun maker, is preparing to file for Chapter 11 bankruptcy protection and is in advanced talks for a potential sale to the Navajo Nation, The Wall Street Journal reported on Friday.
Remington is making preparations for the Native American tribe to serve as the lead bidder to purchase its assets out of Chapter 11, the Journal reported here, citing people familiar with the matter.
The report added that the filing could come with in days.
I think everyone in the gun community expected Remington to go down the toilet, especially after being bought by Cerberus with financial “engineers” skimming money from profits.
But this is odd – Navajo Nation? I wonder what that’s all about? What does Navajo Nation intend to do with Remington?
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On June 28, 2020 at 9:47 pm, Frank Clarke said:
I trust the Navajo more than I trust Cerberus…
On June 28, 2020 at 10:06 pm, Pete said:
I recall them making an offer a few years ago when Cerberus was looking to divest. The Navajo Nation said they wanted to cease AR sales to the public and put a bunch of money into “smart gun” R&D. I’m not sure they’ve changed their intentions.
On June 28, 2020 at 10:29 pm, Herschel Smith said:
@Pete,
Hahahahaha … so then let them dump money into that pit.
On June 29, 2020 at 12:17 am, Ned said:
I grew up on the edge of the Navajo Nation. I do not understand this at all.
On June 29, 2020 at 6:25 am, Sid Checkado said:
I’m a contractor for one of the “Nations” aviation divisions and they are regular bidders on government contracts.
On June 29, 2020 at 8:26 am, Fr. John+ said:
I just had that 1960’s song pop into my old head. I have no idea….
“Will return, will return, will return…..”
https://www.youtube.com/watch?v=caCvDB9ivOE
Yes, the song was ‘Cherokee Nation’…. but somehow, I wouldn’t put it past certain ‘tribes’ (not THE (((Tribe))) ) to hold a grudge, for some reason.
On June 29, 2020 at 2:52 pm, FiftycalTX said:
one reason is the Navajo nation is exempt from personal injury lawsuits. So the Brady Bunch and Bloomberg’s stooges can go pound sand.
On June 29, 2020 at 4:25 pm, Ozark Redneck said:
FiftycalTX is exactly right, I know you don’t like links but you can check ‘Native American tribes are immune from civil law suits says the Supreme Court’, article by Porter Law Group. The article says businesses the Indian Nation’s own. Of course, Firearm businesses were supposed to be protected from civil lawsuits under the S.397 law passed in 2006. So, just because the Supreme Court said NO in the past, it is a gamble that they will say NO today. Down is up, and up is down. You guys know the drill…
On July 5, 2020 at 7:47 pm, TRX said:
The Navajo have bid on several gun companies that went bankrupt, going back to 1970-ish that I know of.
They’re not a bunch of blanket-asses. They have their own TV and radio stations, and their annual Star Wars convention, and there’s an official Lucasfilm version of Star Wars in Navajo… they probably don’t even *want* Remington, just putting in an offer to tweak noses at the BIA and FBI.