Remington attempts to move south, take two.

[herrwalther]

Remington posted a picture of some Remington 700 actions a couple days ago to Facebook. And a picture of an "870 Fieldmaster" today. Maybe my hope/prediction won't be so far off.

 

[Turkeytider]

870 Fieldmaster ?

 

[Detritus]

870 Fieldmaster ?

Looks to have the Express style, matte metal and stock finish, but with slightly slicked innerds and better checkering on the stock. in other words an express with non-cosmetic upgrades to bridge the gap between the express and current gen Wingmasters

 

[herrwalther]

870 Fieldmaster ?

This is what they are calling the Fieldmaster.

 

[Phaedrus/69]

This is an extraordinary moment. We are watching the government literally underwrite a new industry before our eyes, steering capital to EV makers come what may. In post-capitalist America, you can still become a billionaire overnight—if you’re in a business favored by politicians.

Welcome to end-stage capitalism! The gov will shovel money at you provided you're already a billionaire. What is Telsa trading at now, 3000x earnings? Their cap is a $T despite making a handful of cars. Of course, Elon was rich from daddy's blood diamond mine before he even got started. Rivian? Backed by billions of dollars including a big stake from Bezos/Amazon. Of course none is this is new. Fossil fuel companies have been the beneficiaries of hundreds of billions of tax dollars over the last five decades (OCI says around $20B per year), and billions more have gone to pharma companies, automakers and defense contractors. It's pay-to-play and has been at least since WWII. Walmart couldn't have had near the success they have if they had to pay their taxes, and why wouldn't Remington want in on the grift? They can probably wring out millions of dollars in local tax breaks, selling a big fat dream sandwich of jobs and tax breaks they claim they're bring in. None of it will materialize of course. The jobs will probably be low paying non-union and will only last til their next banko. Then they're restructure and take the show on the road again looking for the next dupe.

I've been a fan of "Big Green" for many decades. Took my first deer with a 700 BDL ought-six sometime in the late 70s or early 80s. A Nylon 66 was my first .22 and I dreamt of getting an XP100 pistol in .221 Fireball for years but never managed to. It broke my heart when they went bankrupt the first time but by now...there's no point in just rooting for the name. All the history is lost. The IP is probably still worth something but who would want a new 870 now? They might as well be made by KitchenAid for all the "expertise" left over from the "real" Remington.

Maybe they'll right the ship and we'll see another era of greatness from Big Green. I'll certainly be watching, but I won't be holding my breath watching.

 

[MAKster]

Looks to have the Express style, matte metal and stock finish, but with slightly slicked innerds and better checkering on the stock. in other words an express with non-cosmetic upgrades to bridge the gap between the express and current gen Wingmasters

Meh. I see this purely as marketing gimmick. They can now raise the price significantly higher than the previous Express price and try to dodge criticism by saying it is a "new" model.

 

[Detritus]

Meh. I see this purely as marketing gimmick. They can now raise the price significantly higher than the previous Express price and try to dodge criticism by saying it is a "new" model.

No argument from me.

The noted upgrades from the Expess, ie better checkering and slightly slicked action bars, ARE the two biggies that folks have noted as being most desirable, and neither one jumps production cost up all that much.
So yeah, they'll likely raise the price $100-150, for upgrades that cost them $20 in labor cost.

 

[0ne3]

When you have bad management, you have bad management. I put 35 years in one bulding, 4 differnt company's. With each new CEO, we watched the company being run in the ground. Management did not care what any one had to say. Even the people that has been there for years, and years. Management, wanted to do things there way. Un less you have gone through that or saw it , you would not belive. After I, retired in 2010, the fifith company was the one, in 2014 that shut the door for ever.

 

[mcb]

Remington had four CEO's in five years between 2015 and 2020 when it ended.

 

[alsaqr]

The best manager in the world could not have saved Remington from machinations of the raiders at Ceberus Capital Management. .

"In order to buy Remington, Cerberus, as most private-equity firms would, created a new entity, a holding company. Instead of Cerberus buying a gun company, Cerberus put money into the holding company, and the holding company bought Remington. The entities were related but — and this was crucial — each could borrow money independently. In 2010, Cerberus had the holding company borrow $225 million from an undisclosed group of lenders, most likely hedge funds. Because this loan was risky — the lenders would be paid only if Remington made a lot of money or was sold — the holding company offered a generous interest rate of around 11 percent, much higher than a typical corporate loan. When the interest payments were due, the holding company paid them not in cash but with paid-in-kind notes, that is, with more debt. These are known as PIK notes.

The holding company now had $225 million in borrowed cash. Cerberus, meanwhile, owned most of the shares of the holding company’s stock, basically slips of paper they acquired when they created the holding company. The handoff happened next: The holding company spent most of the $225 million buying back its own stock, effectively transferring all the borrowed cash to Cerberus. Cerberus would keep that money no matter what. Meanwhile Remington continued rolling along as though nothing had happened, because Remington itself was not responsible for the holding company’s debt. Remington was just an “operating company” that the holding company owned, something that allowed the holding company to borrow money, the way you would take a necklace to a pawnshop. These were garden-variety maneuvers in a private-equity buyout. In the trade, this is called “financial engineering.” People get degrees in it."

The Captain's Journal » How Cerberus Drove Remington Out Of Business (captainsjournal.com)

 

[0ne3]

The best manager in the world could not have saved Remington from machinations of the raiders at Ceberus Capital Management. .

"In order to buy Remington, Cerberus, as most private-equity firms would, created a new entity, a holding company. Instead of Cerberus buying a gun company, Cerberus put money into the holding company, and the holding company bought Remington. The entities were related but — and this was crucial — each could borrow money independently. In 2010, Cerberus had the holding company borrow $225 million from an undisclosed group of lenders, most likely hedge funds. Because this loan was risky — the lenders would be paid only if Remington made a lot of money or was sold — the holding company offered a generous interest rate of around 11 percent, much higher than a typical corporate loan. When the interest payments were due, the holding company paid them not in cash but with paid-in-kind notes, that is, with more debt. These are known as PIK notes.

The holding company now had $225 million in borrowed cash. Cerberus, meanwhile, owned most of the shares of the holding company’s stock, basically slips of paper they acquired when they created the holding company. The handoff happened next: The holding company spent most of the $225 million buying back its own stock, effectively transferring all the borrowed cash to Cerberus. Cerberus would keep that money no matter what. Meanwhile Remington continued rolling along as though nothing had happened, because Remington itself was not responsible for the holding company’s debt. Remington was just an “operating company” that the holding company owned, something that allowed the holding company to borrow money, the way you would take a necklace to a pawnshop. These were garden-variety maneuvers in a private-equity buyout. In the trade, this is called “financial engineering.” People get degrees in it."

The Captain's Journal » How Cerberus Drove Remington Out Of Business (captainsjournal.com)

That is what I, am trying to say. does not matter who, is in charge, some one is. Either you want a company to run well or not. Does not matter if it is a holding co. or what it is.

 

[Turkeytider]

Cerberus and the banks neither one wanted to be in the gun business per se. That`s 2 3/4 strikes against any company`s survival when the owners don`t give a damn about it. Remington really never had a chance.

 

[0ne3]

Cerberus and the banks neither one wanted to be in the gun business per se. That`s 2 3/4 strikes against any company`s survival when the owners don`t give a damn about it. Remington really never had a chance.

Playing with all those peoples lives. All those employees, there family's. Corpreate is real durty. They do not care about any one, but the bottom line. Shoot they will even cut one another. I, have seen it. That is anouther example of real greed. Call it want you want, seen it first hand.