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  #11  
Old 02-12-2018, 02:31 PM
MajWatz MajWatz is offline
 
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Quote:
Originally Posted by tmark View Post
I think they need a Lee Iaccoca as CEO. Is not Remington diversified? Razors, etc????
Iacocca was fired from Ford for the deadly Pinto fiasco.
Iacocca when Chrysler CEO, and bought AMC, promised to keep nation's oldest assembly plant which was an AMC Plant open for at least another 3 years, saving 5,000 jobs. Instead, he shut it down in 1 year, laying off those workers. And as for people thinking Iacocca saved Chrysler, it was the Federal Government's bailout that saved it. And look who owns it now... FIAT!
Iacocca wrote how he would make his first millions by hook or crook.
Yeah, we need another Iacocca.
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Last edited by MajWatz; 02-12-2018 at 02:44 PM.
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  #12  
Old 02-12-2018, 03:25 PM
JS Esq. JS Esq. is offline
 
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I read elsewhere they've secured $100 million in DIP financing, so the filing is only a matter of time - but it's for restructuring, not liquidation.

Understand, this is all about debt. Their debt load has long been known to be unsustainable absent unrealistic revenue growth, and the first big chunk comes due next year.
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  #13  
Old 02-12-2018, 04:00 PM
10thmountain 10thmountain is online now
 
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So Said this in my local forum....I would make 2 Guns if I was Remington. Mil Spec USGI 1911's and brand new 1903's . I just fixed Remington. Send me a check.
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  #14  
Old 02-12-2018, 08:34 PM
SA1941 SA1941 is offline
 
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UPDATE:

Good news tonight!

https://www.cbsnews.com/news/remingt...or-bankruptcy/
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  #15  
Old 02-14-2018, 04:37 PM
motorcop motorcop is offline
 
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Quote:
Originally Posted by MajWatz View Post
Iacocca was fired from Ford for the deadly Pinto fiasco.
Iacocca when Chrysler CEO, and bought AMC, promised to keep nation's oldest assembly plant which was an AMC Plant open for at least another 3 years, saving 5,000 jobs. Instead, he shut it down in 1 year, laying off those workers. And as for people thinking Iacocca saved Chrysler, it was the Federal Government's bailout that saved it. And look who owns it now... FIAT!
Iacocca wrote how he would make his first millions by hook or crook.
Yeah, we need another Iacocca.
Wow!!! Someone that knows a little of the history regarding Chrysler's buyout of AMC. I am impressed!! What old Lee Iajerko did to AMC was an absolute shame and disgrace to everyone that worked at American Motors. I was a relatively new trooper and had to walk a line at AMC trying to help keep peace between all parties when the buyout took place. Lots of promises were made by good old Chrysler and none of them were kept. When it was all over good old Lee got exactly what he wanted for Chrysler and that was ownership of the Jeep name and holdings. Some smoke and mirrors were brought into Kenosha and a token AMC/Chrysler work force built Mopar junk a** small engines for a couple of years and then Chrysler/Lee shut the place down. A lot of people got hurt on that buyout but Lee and Chrysler came out smelling like a dozen roses. Ask me why I won't even ride in a Chrysler today let alone own one.

Rick H.
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  #16  
Old 02-15-2018, 04:24 PM
rubicon762 rubicon762 is offline
 
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Colt goes bankrupt about every 15 years, and they are still around...Remington will likely survive. Maybe they will come back stronger.
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