Posted on 07/17/2018 1:35:55 PM PDT by Simon Green
According to the New York Times, the Navajo Nation has made an offer to purchase the Remington Outdoor Company, which recently emerged from bankruptcy. The offer was for approximately half a billion dollars in cash.
The offer was rejected by the owners of Remington, Franklin Templeton and JPMorgan Chase. We can’t be sure of the reasons for the rejection, but the Navajo nation’s plans for what they wanted to do with the company certainly couldn’t have helped.
In short, they sought a strategy that has already proven near-fatal to other firearms manufacturers.
According to Andrew Ross Sorkin, the NYT’s article author, the Navajo nation’s proven to fail plan:
It intended to shift the company away from its consumer business, including curtailing the sale of the AR-15-style weapons frequently used in mass shootings, to focus on police and defense contracts.
The tribe planned to use profits from those businesses to invest in research and development of advanced “smart guns” — those with fingerprint or other technology intended to prevent anyone but the gun’s owner from using the weapon.
The Navajo Nation had apparently read Sorkin’s own brilliant idea for turning Remington into “The Most Advanced And Responsible Gun Manufacturer in the Country.”
The only problem with that plan is that there would have been no profits to invest in “smart guns” or anything else. Shifting away from producing products aimed at the massive purchasing power of the American consumer and toward government contracts is a proven strategy for failure.
Don’t believe me? Ask Colt, which went bankrupt specifically because they shifted away from focusing on the American consumer to primarily military and police contracts. That recent failure highlights that a single, fickle, expensive customer is never the right answer. It’s too hard to get in the door, and way too easy for that door to slam shut.
It might have been a great investment for the Navajo Nation to purchase Remington if they wanted to generate profits with a a company that makes guns. But that’s not, apparently, what this offer was all about.
A plan like this, something designed to appeal to the woke crowd, and not intended to boost the bottom line, is destined to fail in short order. That kind of thinking would only leave the already struggling people of the Navajo Nation with nothing to show for their cash but a half a billion of their dollars thrown into the wind.
I’d like to see Remington out of the hands of the bankers as soon as possible. Hopefully someone will come through soon and make an offer that focuses on the product lines consumers want, and continue the company’s increased focus on quality control that consumers demand.
This offer clearly wasn’t that.
“The tribe planned to use profits from those businesses to invest in research and development of advanced “smart guns” — those with fingerprint “
Stick to gouging casino customers.
I find it ironic that an Indian tribe would prefer to sell guns to the government that subjugated it with guns, rather than to private citizens so they could protect themselves against any potential government subjugation.
The Intelligence Community has a longstanding special relationship with the Navajo Nation.
Smells a little spooky.
[ “The tribe planned to use profits from those businesses to invest in research and development of advanced “smart guns” — those with fingerprint “
Stick to gouging casino customers. ]
I’m okay with smart guns as long as, 1 they are not mandatory, 2 they are easily hackable!
The problem with “smart guns” is not only about the mandatory nature that the gun control freaks would like to impose on us (so that they could shut them down at will, of course), but also their reliability.
I still like the original point and click interface, the revolver, and its more modern semi-auto descendants - NONE of which depend upon electronics. No thank you, not when my life depends upon it working absolutely perfectly. Mechanical things can be made to be 99.9999% reliable...electronics cannot, not in my experience.
They should have sold it to them with one caveat - no bailouts in any way, shape or form should they fail. Let them go broke and a real buyer pick up the pieces pennies on the dollar.
What are you talking about? We speak English here.
So the Navajo nation wants only the U.S. government to have guns?
Is this from the Sacramento Bee?
He never said any such thing. They do gouge their customers and only idiots with no other choices, go to Indian casinos.
Go easy on the peyote.
Post #3.
Great comment.
“Smart Gun” sounds inordinately expensive.
Sounds like this group of Navajo Talkers were politely told to STFU
How can someone have no other choice but to go to an Indian casino?
Wow, someone had an idea that would make Remington guns even crappier than they are now.
When the next closest casino is over 500 miles away.
Never stepped into that one.
I'm part American Indian...live in OK...have a Tribal car tag...
Went to my Tribal HQ's...to clear some car tag biz...up.
Stepped into my tribe's Casino there...just to see what was up.....Was underwhelmed...bot a beer...watched some soccer...and left.
Drove home...........
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