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Joined: Feb 2004
Posts: 10,125 Likes: 4
Campfire Outfitter
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Campfire Outfitter
Joined: Feb 2004
Posts: 10,125 Likes: 4 |
Didn't they just purchase Barnes Bullets? That could suck It happened 8 years ago. Has the suck sank in yet?
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Joined: Nov 2005
Posts: 6,168
Campfire Tracker
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OP
Campfire Tracker
Joined: Nov 2005
Posts: 6,168 |
Didn't they just purchase Barnes Bullets? That could suck It happened 8 years ago. Has the suck sank in yet? I was meaning that if Remington doesn't get funding to continue production through bankruptcy the supply of Barnes might get a little thin.
The collection of taxes which are not absolutely required, which do not beyond reasonable doubt contribute to public welfare, is only a species of legalized larceny. Under this Republic the rewards of industry belong to those who earn them. Coolidge
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Joined: Jun 2006
Posts: 16,437 Likes: 2
Campfire Ranger
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Campfire Ranger
Joined: Jun 2006
Posts: 16,437 Likes: 2 |
Too many MBA’s, not enough gun looneys ^^^^^^^THIS^^^^^^
I've always been a curmudgeon - now I'm an old curmudgeon. ~Molɔ̀ːn Labé Skýla~
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Joined: Apr 2011
Posts: 12,248 Likes: 13
Campfire Outfitter
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Campfire Outfitter
Joined: Apr 2011
Posts: 12,248 Likes: 13 |
I have worked for two companies owned by Private Equity firms (like Cerberus) in the past five years. A PE firm's typical M.O. is to bleed as much cash out of the company as possible, "polish the financial books" for a couple quarters and then flip it to another PE firm. Rinse and repeat... Mediocrity is a way of life in a company owned by a PE firm because all available cash is flowing directly to the PE "partner"... Stupid decisions that give a short term boost to cash flow that are not long term sustainable are common.
Think of a giant lamprey eel that is attached directly to your bank account...
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Joined: Jul 2007
Posts: 24,668 Likes: 6
Campfire Ranger
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Campfire Ranger
Joined: Jul 2007
Posts: 24,668 Likes: 6 |
I have worked for two companies owned by Private Equity firms (like Cerberus) in the past five years. A PE firm's typical M.O. is to bleed as much cash out of the company as possible, "polish the financial books" for a couple quarters and then flip it to another PE firm. Rinse and repeat... Mediocrity is a way of life in a company owned by a PE firm because all available cash is flowing directly to the PE "partner"... Stupid decisions that give a short term boost to cash flow that are not long term sustainable are common.
Think of a giant lamprey eel that is attached directly to your bank account... HUGE +1.
WWP53D
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Joined: Dec 2013
Posts: 14,848 Likes: 10
Campfire Outfitter
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Campfire Outfitter
Joined: Dec 2013
Posts: 14,848 Likes: 10 |
Ever watch the Sopranos? Remember when the guy who owned the sporting goods store got into heavy debt with Tony and his crew in a card game? They took over his store and made him take out huge loans which they gave to themselves. Then they sold a lot of his merchandise out the back door at a loss for quick cash. Then when the banks wouldn’t loan any more money and the creditors were coming to lock the doors, they burned it down and collected the insurance money.
That is pretty much what a PE firm does to a company. But instead of gaudily dressed overweight Italian guys, it is Wall Street MBAs in $3k suits. And of course, it is all legal.
Last edited by JoeBob; 02/08/18.
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Joined: Feb 2004
Posts: 19,288 Likes: 6
Campfire Ranger
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Campfire Ranger
Joined: Feb 2004
Posts: 19,288 Likes: 6 |
Ever watch the Sopranos? Remember when the guy who owned the sporting goods store got into heavy debt with Tony and his crew in a card game? They took over his store and made him take out huge loans which they gave to themselves. Then they sold a lot of his merchandise out the back door at a loss for quick cash. Then when the banks wouldn’t loan any more money and the creditors were coming to lock the doors, they burned it down and collected the insurance money.
That is pretty much what a PE firm does to a company. But instead of gaudily dressed overweight Italian guys, it is Wall Street MBAs in $3k suits. And of course, it is all legal.
When you can buy lobbyists and influence in swamp D.C. you can make anything you want legal. Why do you think medicine in America is so expensive. The stock holders want a return. A BIG return. kwg
For liberals and anarchists, power and control is opium, selling envy is the fastest and easiest way to get it. TRR. American conservative. Never trust a white liberal. Malcom X Current NRA member.
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Joined: Jun 2008
Posts: 6,090 Likes: 6
Campfire Tracker
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Campfire Tracker
Joined: Jun 2008
Posts: 6,090 Likes: 6 |
Ever watch the Sopranos? Remember when the guy who owned the sporting goods store got into heavy debt with Tony and his crew in a card game? They took over his store and made him take out huge loans which they gave to themselves. Then they sold a lot of his merchandise out the back door at a loss for quick cash. Then when the banks wouldn’t loan any more money and the creditors were coming to lock the doors, they burned it down and collected the insurance money.
That is pretty much what a PE firm does to a company. But instead of gaudily dressed overweight Italian guys, it is Wall Street MBAs in $3k suits. And of course, it is all legal.
That 4 line paragraph sums up perfectly what PE firms do to companies. Run up debt, HUGE bonuses for directors, sell off the scraps, move on.
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Joined: Dec 2002
Posts: 32,246 Likes: 2
Campfire 'Bwana
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Campfire 'Bwana
Joined: Dec 2002
Posts: 32,246 Likes: 2 |
Too many MBA’s, not enough gun looneys ^^^^^^^THIS^^^^^^ I'm both an MBA and a rifle looney, being either isn't that big a deal. Remington isn't doing a good job of building firearms that can successfully compete with Ruger and Savage on price and quality.
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Joined: Dec 2006
Posts: 3,612
Campfire Tracker
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Campfire Tracker
Joined: Dec 2006
Posts: 3,612 |
I'm still waiting for my $100 rebate on their neat RM 380 pistol. You and me both. Love the gun, though.
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Joined: Aug 2011
Posts: 6,519
Campfire Tracker
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Campfire Tracker
Joined: Aug 2011
Posts: 6,519 |
My, how times have changed. I remember when if you had a Remington anything you were in good shape. But that was fifty years ago. Sad!
If we live long enough, we all have regrets. But the ones that nag at us the most are the ones in which we know we had a choice.
Doug
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Joined: Jan 2004
Posts: 4,608 Likes: 5
Campfire Tracker
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Campfire Tracker
Joined: Jan 2004
Posts: 4,608 Likes: 5 |
I have worked for two companies owned by Private Equity firms (like Cerberus) in the past five years. A PE firm's typical M.O. is to bleed as much cash out of the company as possible, "polish the financial books" for a couple quarters and then flip it to another PE firm. Rinse and repeat... Mediocrity is a way of life in a company owned by a PE firm because all available cash is flowing directly to the PE "partner"... Stupid decisions that give a short term boost to cash flow that are not long term sustainable are common.
Think of a giant lamprey eel that is attached directly to your bank account... What I've seen is a slight variation. First, buy it with debt, then bleed as much cash as possible, take on more debt, give large bonuses and pay days to key people, then file for bankruptcy.
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Joined: Nov 2002
Posts: 33,826 Likes: 16
Campfire 'Bwana
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Campfire 'Bwana
Joined: Nov 2002
Posts: 33,826 Likes: 16 |
Didn't they just purchase Barnes Bullets? Yeah, about eight years ago.
Conduct is the best proof of character.
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Joined: Jan 2012
Posts: 45,040 Likes: 29
Campfire 'Bwana
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Campfire 'Bwana
Joined: Jan 2012
Posts: 45,040 Likes: 29 |
Didn't they just purchase Barnes Bullets? That could suck I pray to God they didnt.
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Joined: Jan 2001
Posts: 29,974 Likes: 11
Campfire Ranger
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Campfire Ranger
Joined: Jan 2001
Posts: 29,974 Likes: 11 |
One would think that the ammo flow alone could more than keep them afloat. Never researched the company. Could be they're separate entities.
1Minute
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Joined: Oct 2016
Posts: 8,109
Campfire Outfitter
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Campfire Outfitter
Joined: Oct 2016
Posts: 8,109 |
Did you ever hear of the guy selling gasoline for $.10 less per gallon than it cost him? He figured he would make up the loss in volume.....
An unemployed Jester, is nobody's Fool.
the only real difference between a good tracker and a bad tracker, is observation. all the same data is present for both. The rest, is understanding what you're seeing.
~Molɔ̀ːn Labé Skýla~
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Joined: Sep 2012
Posts: 18,243
Campfire Ranger
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Campfire Ranger
Joined: Sep 2012
Posts: 18,243 |
Big Green shutting down wouldn't effect me since my rifle buying days are about over and even if they weren't I wouldn't buy any of their new stuff and the only component of theirs I use are primers which I have a lifetime supply of but I hate the idea of loosing them. Shame but much like our country I fear the damage is done at this point.
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Joined: Nov 2002
Posts: 33,826 Likes: 16
Campfire 'Bwana
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Campfire 'Bwana
Joined: Nov 2002
Posts: 33,826 Likes: 16 |
Didn't they just purchase Barnes Bullets? That could suck I pray to God they didnt. Done eight years ago.
Conduct is the best proof of character.
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Joined: Aug 2015
Posts: 13,284 Likes: 4
Campfire Outfitter
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Campfire Outfitter
Joined: Aug 2015
Posts: 13,284 Likes: 4 |
Cerebus/Remington, formerly Freedom Group, owns Remington, Marlin, Bushmaster, DPMS, H & R, Dakota Arms, Para USA, Barnes Bullets, Tapco, Parker Gun, Mountain Khakis, Timber Smith.
Cerebus has been trying to sell Off Freedom Group/Remington since 2012 with no takers. Robert Nardelli, formerly of Chrysler, Home Depot, and GE and Freedom Group, was named by Conde Nast in 2009 as one of the worst CEOs of all time.
Let's Go Brandon! FJB
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Joined: Nov 2004
Posts: 7,132 Likes: 6
Campfire Tracker
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Campfire Tracker
Joined: Nov 2004
Posts: 7,132 Likes: 6 |
their stuff has been junk for a long time anyways. same thing with another company, vista outdoors.
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