| A particularly depressing bit of news from my old stomping grounds growing up crosses our desk today. Remington Arms, one of the nations most venerable manufacturers of firearms, is in serious financial trouble and has reached an agreement to file for bankruptcy protection. And according to Bloombergs coverage of this story, the main reason theyre citing for their fiscal woes is
Donald Trump.
This particular case of assigning blame is probably different from ones youve seen in the past, however. Normally wed hear about Washington passing some new regulation which harms businesses. In this case, theyre saying that President Trump is such a fan of protecting Second Amendment rights that people arent in as much of a rush to run out and buy firearms because, unlike during Obamas tenure, theyre not worried that the government will be coming to take them away.
At most I suppose we could call this the Reverse Trump Effect. The President is a big supporter of not just gun rights, but gun manufacturers as well. The one thing he cant do is force people to go out and buy the product. With the perceived threat to gun ownership in the rearview mirror for now, shoppers are probably finding other things to spend their new tax break money on. Of course, that perception of the danger to gun ownership based on who is in the Oval Office has always been somewhat overblown. The Democrats still dont have enough seats to pass any serious gun restrictions even if they still had the White House. The real danger lies in state-level regulations. Replacing Obama with Trump hasnt done a thing to loosen the vulture-like grip of the New York Safe Act, one of the worst gun laws in the country and, ironically, passed in the same state that Remington traditionally called home. (I used to ride past their factory on my bicycle as a kid on a regular basis.) Fortunately, this is a reorganizational bankruptcy. At this point, it doesnt look as if theyll be closing the doors or laying off a lot of their workers. But if things dont turn around for them in the near future that could always change. It would be an absolute shame to lose them. Remington makes some beautiful products. My very first rifle, received when I was around ten years old, was a Remington bolt-action .22 long rifle. I still have fond memories of it. |
Poster Comment:
I said all along that 0bama is the greatest guns-and-ammo salesman in history. Trump is proving it.
#1: misterwhite To: Tooconservative (#0)
And all along I thought it was due to Sandy Hook, which occurred years before Trump even thought about running. Yet it's not even mentioned in the article.
misterwhite posted on 2018-02-14 09:43:54 Reply Private Reply
#2: Tooconservative To: misterwhite (#1)
Newtown only increased demand due to people thinking they had to stock up due to an impending ban. Certainly, the libs and their media arm was pushing for it.
Tooconservative posted on 2018-02-14 11:03:44 Reply Private Reply
#3: misterwhite To: Tooconservative (#2)
Unfortunately they didn't stock up on the Bushmaster, the Remington rifle used at Sandy Hook. Plus, there's a lawsuit pending against Remington. Plus the class-action suit against the Model 700.
The election of Trump ended the panic buying of firearms. I'm saying that if you're going to focus on Remington, there are other factors to consider.
misterwhite posted on 2018-02-14 11:32:27 Reply Private Reply
#4: Tooconservative To: misterwhite (#3)
No doubt. You know more about them than I do. And, as the article says, this is merely a reorganizational bankruptcy. Remington will be around for many years to come.
Tooconservative posted on 2018-02-14 14:18:08 Reply Private Reply