|
Anytime a company goes under the local municipality has to eat shit on the assessed value and get less in taxes, I doubt that has any relationship to if it reopens I think the new company has said any past issues regarding old pension issues is between the employees and the old bankrupt company. I don't know if that's true. of course a union is going to want to bring back workers by seniority; that's how unions work. I don't know what value the land has for flipping if, sounds unlikely but who knows.maybe they want to flip the part of the portfolio they have ie 700 and 870 Sounds kind of like guesses |
|
Quoted: Anytime a company goes under the local municipality has to eat shit on the assessed value and get less in taxes, I doubt that has any relationship to if it reopens I don't know what value the land has for flipping if, sounds unlikely but who knows. After 200 plus years, the property will most likely become a Federal Superfund cleanup (if they still exist). |
|
Quoted: Anytime a company goes under the local municipality has to eat shit on the assessed value and get less in taxes, I doubt that has any relationship to if it reopens I think the new company has said any past issues regarding old pension issues is between the employees and the old bankrupt company. I don't know if that's true. of course a union is going to want to bring back workers by seniority; that's how unions work. I don't know what value the land has for flipping if, sounds unlikely but who knows.maybe they want to flip the part of the portfolio they have ie 700 and 870 Sounds kind of like guesses Rem Arms sent out Letters to former employees offering new jobs IF they signed a release of Liability from all financial claims against Remington Arms. |
|
Quoted: Let them sell off the property. Sell the name to someone else and move it out of state.. State loses. The Union loses and free America wins.. When you purchase a Business or Property, do you not assume the liabilities on it? Are their not Federal and State Bankruptcy Laws and Judges to make those determinations? I've listened to David Drake and his editorials a few times and am unimpressed as well as dubious of his credibility. Unions typically suck; companies that end up being unionized suck just as bad or worse. As for the Village of Ilion and Herkimer: it's a shithole that makes Utica look modern Metropolitan, and the tax money from that Plant probably makes up the majority of their budget, so there going to have to cut services and get ready for hundreds of foreclosures and abandonment's. 
|
|
Quoted: Let them sell off the property. Sell the name to someone else and move it out of state.. State loses. The Union loses and free America wins.. Gee THANKS! I'm one of those Union workers , 3 generations of my family helped Remington grow. Now that I've put in 20 plus years of my life, I'm not entitled to what was signed into the contract that BOTH the COMPANY and Union signed? Thanks for 20 years buddy, but F you and your family, we squeezed every ounce of cash we could out of a once great company.... They owe 585 Pro Gun employees in NYS , back pay and severance! Including ME for the tune of about 20K! I'm not starting a pissing match but I want whats rightfully mine and not some corporate raider pocketing the money those other 585 people are owed! |
|
Quoted: Gee THANKS! I'm one of those Union workers , 3 generations of my family helped Remington grow. Now that I've put in 20 plus years of my life, I'm not entitled to what was signed into the contract that BOTH the COMPANY and Union signed? Thanks for 20 years buddy, but F you and your family, we squeezed every ounce of cash we could out of a once great company.... They owe 585 Pro Gun employees in NYS , back pay and severance! Including ME for the tune of about 20K! I'm not starting a pissing match but I want whats rightfully mine and not some corporate raider pocketing the money those other 585 people are owed! I feel for you. 40 some years ago the company I worked for closed shop. Luckily I only had about 9 years invested into it. Got some vacation pay and adios some over 700 employees. |
|
Quoted: I think the new company has said any past issues regarding old pension issues is between the employees and the old bankrupt company. I don't know if that's true. |
|
We were able to roll over our 401K, the Judge has just ruled on back pay and vacation. The big question is do we get our severance pay from old Remington at this point.3.6 million was set aside to settle this but attorneys for old Remington are still tying that and some the owed debt to suppliers, |
|
@Adirondack1 I feel for ever worker that gets screwed, but have worked for unions in the past the only ones that really make out are the leaders.. Its just a another big corp in sheep clothing.. Hear are all the promises the union gave you and hooked fish line and sinker sounds great. Guess what u got screwed. The real winners are the lawyers .. |
|
Lived in Ilion for 10 years, it's really sad to say but the writing was on the wall. I did not work for the arms but knew once it closed the whole area would suffer. I packed up the family and left state. I think a FFL was already granted, but they do not want to open in the current buildings. There was talk about building a new building in the parking lot but at that point why bother, when you could just go to a much more gun/tax friendly state. Unless i'm wrong they do not even own the name Remington and it was sold to the company that purchased the ammo division. Getting a lease on the name could also be slowing things down. For anyone that worked there. I wish you the best. A company that size closing its doors is going to hurt the whole area. Time for all the local villages to combine and hope they can keep things afloat. |
|
Quoted: Gee THANKS! I'm one of those Union workers , 3 generations of my family helped Remington grow. Now that I've put in 20 plus years of my life, I'm not entitled to what was signed into the contract that BOTH the COMPANY and Union signed? Thanks for 20 years buddy, but F you and your family, we squeezed every ounce of cash we could out of a once great company.... They owe 585 Pro Gun employees in NYS , back pay and severance! Including ME for the tune of about 20K! I'm not starting a pissing match but I want whats rightfully mine and not some corporate raider pocketing the money those other 585 people are owed! That’s terrible. I’m sorry that happened to you and so many others. |
|
Quoted: .3.6 million was set aside to settle this but attorneys for old Remington are still tying that and some the owed debt to suppliers, |
| Remington was not sold wholesale, rather assets were sold. My guess is (like when NorTel collapsed) a company Remington still exists, staffed by a few accounts and lawyers, and the debt remains, but the assets are gone. All the paperwork should be publicly available so if one really cared to find out it can be found. |
|
Quoted: There have been a few more cars in the parking lot lately. More than just the security guards. Maybe a few going in to cover contract work or warranty repairs? I dont know, but they better do something quick... Last I heard the new company was not doing any warranty work or repairs on firearms the "old Remington" made. A friend that has a shotgun that needed a repair contacted them last month and received an email stating that "RemArms LLC is unable to service existing Remington firearms or any any warranty offered by Remington Outdoors Company." The email did say when they become "fully operational" they will assist customers that have issues with the older Remington firearms (not sure exactly what they mean by that). I hope that the factory and the folks that worked at Remington can get back to making firearms again. Some great folks worked at that plant. |
|
As reported from inside sources, the guns made in the final days were put together with whatever parts they could find and were "junk" and I suppose if they were sold, they would be under the old company and the now meaningless "Lifetime Warranty". I'm surmising the whole Bankruptcy deal was a way to starve off the Lawsuits and judgements. There's a video out by The Mosin Crate where he says he bought the last of the guns and a lot of non-cataloged guns (well that's because they were screwing together anything they could with whatever they had) and those guns aren't likely to have warranties. What nobody seems to mention are those job offers that were contingent upon release of claims against Remington for back pay owed.  Failed To Load Title |
|
Quoted: Remington started advertising a "lifetime warranty" a few years ago-yea lifetime of the company lol. Huge demand for guns, why rush to get a gun factory open again. I could sell a Tractor-Trailer full of Shotguns IF they were actually being made. Supposedly the hold up for production was ATF issuing a Manufacturers Licenses, it was said they'd have it in February, now I realize the anti-gun climate of the current Administration and ATF Leadership, but contend that calls from the 22nd Congressional District and the two worthless Senators WOULD have gotten that issued long before now. The Huntsville Alabama Plant was making the Bushmaster, DPMS, and Handgun Lines: that Facility may open again, but it won't be for Gun making. Haven't heard anything out of Dakota Arms/Remington Custom Shop.  |
|
Quoted: I could sell a Tractor-Trailer full of Shotguns IF they were actually being made. Supposedly the hold up for production was ATF issuing a Manufacturers Licenses, it was said they'd have it in February, now I realize the anti-gun climate of the current Administration and ATF Leadership, but contend that calls from the 22nd Congressional District and the two worthless Senators WOULD have gotten that issued long before now. The Huntsville Alabama Plant was making the Bushmaster, DPMS, and Handgun Lines: that Facility may open again, but it won't be for Gun making. Haven't heard anything out of Dakota Arms/Remington Custom Shop. Quoted: Quoted: Remington started advertising a "lifetime warranty" a few years ago-yea lifetime of the company lol. Huge demand for guns, why rush to get a gun factory open again. I could sell a Tractor-Trailer full of Shotguns IF they were actually being made. Supposedly the hold up for production was ATF issuing a Manufacturers Licenses, it was said they'd have it in February, now I realize the anti-gun climate of the current Administration and ATF Leadership, but contend that calls from the 22nd Congressional District and the two worthless Senators WOULD have gotten that issued long before now. The Huntsville Alabama Plant was making the Bushmaster, DPMS, and Handgun Lines: that Facility may open again, but it won't be for Gun making. Haven't heard anything out of Dakota Arms/Remington Custom Shop. Who owns the Remington Ammunition name now? |
|
Quoted: Who owns the Remington Ammunition name now? Vista Outdoors bought the Ammunition Plant and Name in Lonoke, Arkansas. They own a large chunk of the market too: https://vistaoutdoor.com/brands/ Fiocchi and Sig both are opening ammunition plants in the same area of Arkansas. |