Remington Outdoor Co., one of America’s oldest gunmakers, has filed for Chapter 11 bankruptcy, according to CNN Money. The company announced that it was planning to file for bankruptcy in February, and has officially begun the process of restructuring its debt. Remington, which will remain in business during the bankruptcy, plans on reducing its debt by $700 million and contributing "$145 million to its subsidiaries." Its current owner, Cerberus Capital Management, will give up ownership of the company once the bankruptcy process is over. Remington makes the Bushmaster AR-15-style rifle that was used in the 2012 Sandy Hook shooting. Family members of the 26 Sandy Hook victims sued the company in the wake of the massacre. This comes as the parent company of Smith & Wesson reported low earnings in March, and Sturm Ruger’s gun sales fell 27 percent at the end of 2017.
Gee without the Obama boogeyman in the White House I guess frightening people into buying unnecessary weapons is a whole lot harder.
And with all of this negative attention being directed at guns in America, I imagine that there are going to be a number of gun manufacturers who will be forced to tighten their belts a little.
Or possible quite a lot.
I read that the guns will continue to be made because that's what is really important. Right? But a case against the gunmaker will be stayed.
ReplyDeleteBeaglemom
It's simply a ploy so they do not have to pay Sandy Hook families.
ReplyDeletehttp://www.dw.com/en/remington-maker-of-sandy-hook-ar-15-files-for-bankruptcy/a-43137462
Deletehttp://www.cbc.ca/news/business/remington-bushmaster-guns-bankrupt-1.4592970
Again, simply a manuevering to avoid paying.
Delete"Robertson went on to reiterate his call for a ban on bump stocks, so shooters wouldn’t have “automatic weapons” (get ready for gunsplainers to be all over that one). Then Robertson veered straight over into Donald Trump territory, right down to the phrasing:
ReplyDeleteWhat has been suggested as probably the answer is to have people on the other side that are armed. These terrorists are cowards, and they only want to shoot unarmed people, and all of a sudden if the people start shooting back and they get killed, then they won’t want to do it as much. You know, we talk about “Peace Through Strength,” and if you want to have peace, the best way to do it is to have strength. But the idea of restricting gun purchases — it’s not going to do any good."
"I think there are men who are in a woman’s body,” he said. “It’s very rare. But it’s true — or women that are in men’s bodies — and that they want a sex change […] I don’t think there’s any sin associated with that. I don’t condemn somebody for doing that.
Yes, that really was a thing he said! Doesn’t make any of his other weird nastiness — like his warning against adopting orphans because they could be all warped and stuff — any less weird or nasty"
Read more at https://wonkette.com/631816/briefly-lucid-pat-robertson-likes-these-young-folks-marching-for-gun-reform-huh#phQ0QDLXA2pkMDGh.99
He is 88 earsold
Justice John Paul Stevens of the Supreme Court say repeal the 2nd amendment. It is the only way to stop the liars and scam NRA propaganda crime. Yea lets roll. Repeal it. And create the real deal. Americans are in.
ReplyDeletethey can make hunting rifles. nothing else is needed.
ReplyDelete