December 9th, 2017

Remington May Face Bankruptcy Reports Fox News

Remington Fox News Bankruptcy credit rating sales declines

There are tough times ahead for Remington. Fox News reports that: “Privately-held Remington Outdoor is now at risk of declaring bankruptcy after a collapse in sales and profits. Saddled with debt, the historic gun manufacturer is short on avenues for escape.” (LINK). Fox News adds:

“The rifle and shotgun manufacturer’s third-quarter sales plunged 41% as demand for firearms dried up. That led Remington to report adjusted earnings before interest, taxes, depreciation, and amortization that were 78% lower year over year. Over the first nine months of 2017, the company has produced a $60.5 million net loss, compared to a $19.1 million gain in the prior-year period.

And with its credit rating in the trash bin, the future is bleak for ‘America’s oldest gunmaker’. Today, debt on the company’s books has ballooned to almost $1 billion[.]”

Read Full Remington Report on FoxBusiness.com »

Financial analysts report that Remington’s earnings decline will further harm the company’s already poor corporate credit rating. That means Remington must pay even higher interest rates to borrow money, further bleeding cash and decreasing profitability. This, in turn, accelerates the momentum towards filing bankruptcy. Fox explains: “With the firearms and ammunition manufacturer burning through cash as a result of falling sales, S&P expects it will undertake a restructuring within the next year.”

Other large American gun industry companies have seen their stock value drop dramatically this year. Vista Outdoor (Savage, RCBS, CCI etc.) is down 62% since December 9, 2016, while American Outdoor Brands (Smith & Wesson) has dropped 36%.

Remington Has a Storied History
Founded in 1816, Remington is the oldest continuously-operating gun manufacturer in the United States, and remains one of the USA’s oldest commercial enterprises. Even with its present difficulties, Remington still sells more sporting rifles and shotguns than any other American company. Remington has developed more cartridges than any other U.S. company. And it is the only American company that sells firearms AND ammunition under its own name.

Remington Fox News Bankruptcy credit rating sales declines

The Remington enterprise was founded in 1816 by Eliphalet Remington in Ilion, New York, as E. Remington and Sons. In 2016 Remington celebrated 200 years of history. American Rifleman TV explored the history of Remington Arms Company in a TV special which focuses on many of the company’s most noted firearms. Here is a preview:

Permalink Gunsmithing, News 25 Comments »
December 9th, 2015

Taya Kyle Wins American Sniper Shootout

Tracking Point PGF

Well the lady did it… Taya Kyle (Chris Kyle’s widow), triumphed over Bruce Piatt, reigning NRA World Shooting Champion (see below). Using Tracking Point “Intelligent” firearms, Taya won the much-publicized American Sniper Shootout, hitting every one of the 29 targets (Piatt hit only 58% of his targets). In the process, Taya earned $500,000 for the Chris Kyle Frog Foundation. Here’s a Fox News Video covering the event, which was held Saturday, December 5, 2015 in Mason, Texas.

This unique competition pitted a novice shooter armed with Tracking Point’s rifle systems against a World Champion-level shooter in a head-to-head competition. There were 29 targets total, with a variety of shooting scenarios and distances.

Taya Kyle Earned $500,000 for the Chris Kyle Frog Foundation.
Tracking Point PGF

To the surprise of many in attendance, Taya Kyle, the widow of Navy SEAL Chris Kyle, soundly beat the reigning WSC champion. She hit every one of her targets, while Bruce missed more than 40%. Taya used Tracking Point’s precision-guided M600 and M800 firearms, while Bruce competed with M4A1, M110, and M2010 basic military rifles. Bruce certainly was motivated. Had he won the Shootout, he would have received a $1,000,000 prize. But, in the end, it wasn’t even close. Taya hit all the targets, while Bruce hit less than two-thirds.

The competition involved an unusual course of fire. Outdoor Hub’s Daniel Xu reports: “The American Sniper Shootout was unlike most other competitions. The environment was built to imitate the layout of Sadr City [Iraq], where Chris Kyle made his famous 2,100-yard shot on an enemy insurgent. The competition itself reflected war-like conditions instead of traditional shooting competitions and both shooters were tasked with making difficult shots. The most difficult part of the shootout was when Kyle and her opponent had to make blind shots from cover, simulating a scenario in which soldiers had to shoot while under enemy fire.”

Tracking Point PGF

While the Tracking Point “precision guidance” system helped Taya aim and break the shot precisely, the Tracking Point system does not call the wind. The “operator” must still make a wind call, input wind speed and direction, and then the Tracking Point system, using internal ballistics tables, will adjust the aiming point accordingly in the scope’s viewfinder/reticle. Apparently the system works well enough to enable Taya to prevail over a very experienced shooter.

Taya Kyle Shoot-out Bruce PiattBruce Piatt, 2015 WSC Champion
Bruce Piatt won the 2015 NRA World Shooting Championship (WSC). The WSC is a multi-discipline event involving pistols, rifles, and shotguns with targets out to 1K and beyond. Bruce competed against many top shooters including previous WSC winner SFC Daniel Horner of the USAMU.

Over his shooting career, Piatt has also won World and National titles in USPSA/IPSC, Steel Challenge, Bianchi Cup, Sportsman’s Team Challenge, Masters Pistol Championship, and the SOF Tactical 3-Gun disciplines.

Permalink - Videos, News 7 Comments »
December 10th, 2013

NFL Refuses to Run Daniel Defense Super Bowl TV Commercial

Daniel Defense Commercial NFL SuperBowl 2014The NFL has refused to run a self-protection-themed TV commercial from Daniel Defense during the 2014 Super Bowl game. Apparently it’s fine to display half-naked ladies, or sell alcohol products on national television, but anything related to the Second Amendment is off-limits. In refusing to air the Daniel Defense commercial, the NFL cited its League policy against promoting firearms. According to the NSSF, “It is league regulation and not federal law that prohibits the advertising of firearms or ammunition on NFL broadcasts.”

Watch Daniel Defense Commercial Banned from the Super Bowl by the NFL

If you watch the minute-long video above, you will see that it is pretty tame. It is all about a man taking individual responsibility for protecting his family. You won’t see guns being fired, in fact you won’t see any actual guns at all*. The message is subtle — if you care about your family’s security, you may wish to exercise your Constitutional right to own a firearm. That doesn’t seem extreme at all, but NFL decision-makers decided that this commercial was too controversial, and violated its ‘no guns’ rules.

Larry Keane, Senior Vice President and General Counsel for the National Shooting Sports Foundation, criticized the action of the NFL: “It would have been interesting to see if the television ad that Daniel Defense wanted to run during the 2014 Super Bowl would have caused the hubbub in elite liberal circles that the National Football League clearly feared it would. It may well have, but we’ll never know, for sure, since the NFL decided that its ‘no firearms’ on its airtime ruling would stand after the video review.

While we are disappointed that the nicely-produced Daniel Defense commercial will not run on national television during the Super Bowl, we are very pleased to see the attention being paid to the decision of a major sport’s management that seems so out of touch with the pro-Second Amendment sentiments of so many football fans across the country. Conservative commentators have been busy scoring points. Nationally-syndicated Columnist Michelle Malkin, for example, wrote ‘The National Football League’s hypocrisy and selective decency standards reek like a post-game locker room’.” Here is a Fox News commentary about the NFL’s refusal to air the Daniel Defense commercial:

* The video does show the Daniel Defense logo with the silhouette of a rifle. Daniel Defense agreed to remove that rifle graphic, but the NFL still said “no”. As a Fox commentator explains: “This is really not about guns at all but [rather] the idea of guns, and how distasteful they are… to people in the media.”

Permalink News 11 Comments »
January 12th, 2011

Camp Perry Champion Sherri Gallagher on Fox and Friends

SGT Sherri Gallagher, winner of the 2010 NRA High Power Rifle Championship at Camp Perry, was recently named the U.S. Army’s Soldier of the Year (SOY). SGT Gallagher, who comes from a family of champion shooters, is the first female to win the SOY Award. The Soldier of the Year competition is an intense 12-month event evaluating simulated battle operations, urban orienteering, first aid, marksmanship, and other soldiering skills. In October, 2010, Sherri beat a talented field of other soldiers at the final stage of the SOY Competition — the ‘Best Warrior’ event held at Fort Lee, Virginia.

Sherri Gallagher USAMULast week, Sherri appeared on the Fox News show Fox and Friends to discuss her Soldier of the Year accomplishment as well as her background in competitive shooting. SGT. Gallagher began shooting at the age of five, as part of America’s leading family of rifle shooters. Sherri’s older sister Michelle Gallagher, mother Nancy Tompkins, and step-father Mid Tompkins have all won major championships. Only two women have ever won the National High Power Championship. The first was Nancy Tompkins, and the second was her daughter, Sherri.

SGT. Gallagher Deploys to Afghanistan Soon
Sherri is getting ready to deploy to Afghanistan where she will help train Afghanistan National Army soldiers in marksmanship. As part of a U.S. Army Marksmanship Unit (USAMU) training group, SGT Gallagher will pass on some of the rifle skills that have made her a champion. As she heads off to the Afghan war zone, we wish her (and all U.S. Service personnel) a safe and successful deployment.

Story by KJillson, courtesy NRA Blog; video courtesy of Fox News Insider.
Permalink - Videos, News 5 Comments »