Gunmaker Remington Arms has stepped up to help coronavirus epicenter New York combat the contagion. Remington CEO Ken D’Arcy offered to manufacture ventilators, medical masks, and hospital beds to help the disease-infested state.
D’Arcy made the offer in a letter to New York Governor Andrew Cuomo and President Donald Trump, where he also agreed to provide “approximately one million square feet of unused and available manufacturing space” at Remington’s plant in Ilion, New York.
Gunmaker Remington Arms steps up to help disease-ravaged New York
We are historically in the biggest gun sale in the United States. All manufacturers are pumping product as fast as they can and month-long delay for shipments are the new norm. So how come Remington Arms has “approximately one million square feet of unused and available manufacturing space”?
Because according to the grapevine that seems to be very healthy, Remington is being dissembled for the inside and on its way to disappear.
We have a reader that is involved with Remington and sent me an email about this. Here is what he had to say.
I saw this. Darcy is the guy that shut down Bushmaster, Remington Defense, and AAC. He hates black rifles and tactical stuff. He killed the RM380 because he’s anti concealed carry. He’s allowed the 1911 only because the R1 is the best selling budget 1911 in stores and it makes a lot of money but he would have ended handgun production if he could.
He’s a Canadian Fudd hand picked by the anti gun bankers at BOA.He’d love nothing more than to stop gun production during a buying boom just to tank the company.I guarantee Remington is losing money right now with him at the helm, even as guns and ammo fly off the shelves.
He [Darcy] got his dream of a plausible reason to stop a gun company from making guns during a gun buying boom.
You take it for what is worth.
Darcy apparently also killed off DPMS. At least their website has been showing nothing for a month or two.
This is a perfect example why being publicly traded does some companies and industries no favors.
I don’t quite understand that. Being publicly traded obliges the company to act in a way that’s in the interest of its shareholders. Deliberately running a company into the ground is not in the interest of shareholders, and would make the management and directors liable for those acts.
It’s not publicly traded. Remington is privately owned by a group of banks and investors who got it as part of Remington’s bankruptcy under Freedom Group/Cerberus.
If you think about Remington on its own, it makes no sense. If you think about Remington as part of a portfolio, than letting Remington fail is a loss that the banks could use as a tax deduction against all the other profits they made in their portfolio.
The banks could fail Remington on purpose and make more money overall from the tax value of the loss. Literally killing off a gun company for profit.
Remington moved from NY to Alabama, because of unfriendly NY attitudes.
https://www.forbes.com/sites/frankminiter/2014/05/16/americas-oldest-gun-maker-thumbs-its-nose-at-a-two-faced-senator/#19442dfb2da2
Governor “Sonny” (Fredo’s older, smarter brother) will eschew anything made by Remington Arms because of that Arms thing.