Actually, NO, #MarchForOurLives Didn't Bankrupt Remington. The Facts…
One of the hot news stories of this morning is gun manufacturer Remington filing for chapter 11 bankruptcy. A most unfortunate occurrence, unless of course you're a lefty who's triggered by things with triggers. In which case, it's celebration time. Unsurprisingly, the media is crediting Remington's decline to the post-Parkland anti-gun push. Leftists are hailing it as a major victory:
Remington Arms Co has filed for Chapter 11 bankruptcy amid mounting public pressure for greater gun control. https://t.co/1W8dFTPRaq— NBC News (@NBC News)1522056608.0
Remington is one of the largest U.S. makers of firearms https://t.co/3AAG6NzGoe— HuffPost (@HuffPost)1522032268.0
Gun manufacturer Remington filed for bankruptcy protection a day after global protests called for tighter U.S. gun… https://t.co/2Wk6biya1u— AJ+ (@AJ+)1522068588.0
Gunmaker Remington Outdoor has filed for bankruptcy protection in Delaware. The filing came after a weekend of marc… https://t.co/jNydQk0z8F— Bloomberg QuickTake (@Bloomberg QuickTake)1522064722.0
Reading these headlines, you would think the folks over at Remington saw the sea of chinless, shaven-headed haters of gats with their "your penis is small" signs and immediately threw in the towel. Out of fear.
Except that's not what's going on at all:
Reuters reported the company’s sales crashed in 2017, leaving it with a $28 million operating loss. Credit ratings agencies attributed the decline in part to “receding fears that guns will become more heavily regulated.”
Bloomberg, too, noted that Remington’s bankruptcy was tied to the vagaries of the nation’s gun control debate.
“The company’s fortunes took a hit after the election of Donald Trump,” Bloomberg wrote, “because Hillary Clinton’s defeat erased fears among gun enthusiasts about losing access to weapons. Sales plummeted, and retailers stopped reordering as they found themselves stuffed with unsold inventory.”
Ah, so it's largely the lack of gun-grabbing which led to Remington's bankruptcy. Under Trump, gun owners no longer felt the need to rush to the nearest Walmart and put half a dozen ARs on layaway. Which brought the demand for fresh boomsticks crashing down. Now, with the anti-gun Parkland kids vowing to "take us for a mile," methinks that trend is about to come to an end.
Hand-cannon enthusiasts like myself will also quickly point out that in terms of quality, Remington isn't really the bee's knees. At least right now:
- Gunmaker Remington recalls millions of rifles in $12.5m lawsuit settlement
- Remington addresses R51 pistol problems, offers replacement
There's also the matter of court costs from a bogus lawsuit. The families of victims from Sandy Hook are trying to hold Remington responsible for the shooting. Which is like suing the pants off of Ford because your ex-wife mows you down in an F-150. Or getting your litigation on against Little Debbie because your waist has the circumference of the planet Jupiter.
So really, we've got the combination of a lack of demand, a piss-poor product, and frivolous lawsuits keeping Remington down. That's hardly the narrative the media and the left are laying out right now.
Wait though, because it gets better. Wanna know the best part of all about that pull quote I just shared with you? It's from February 13th, the day before the Parkland shooting. This bankruptcy filing preceded not only the movement but the massacre itself.
You didn't really think David Hogg throwing his emaciated fist in the air and yelling "NO MORE" was going to bring a gun giant down overnight, did you? Nevertheless, these facts won't stop Hoggy and his comrades from break-dance celebrating this "victory."
Just one more media lie about guns.