Tuesday, March 27, 2018
Bankruptcy
One way to achieve gun control is to stop buying guns. It is the ultimate form of economic communications. This is what happened to Remington Outdoors, which went into Chapter 11 yesterday. The company experienced a 30 percent sales slump in 2017 that started with the Trump Presidency. The reason, apparently, is that weapons collectors saw less need to stockpile arms under Trump. If that is the case, then there are millions of Americans who have multiple weapons in their homes. They might all be members of the NRA or they are persuaded their Second Amendment rights had been under attack. It is an irony that when they feel more comfortable about their rights, gun manufacturers suffer. Bankruptcy is a statement that a business is no longer viable under its present organization. It is a chance for a company to start over and see if it can thrive with less debt, fewer factories and changed structure. Remington is fighting severe headwinds with the growing voice of anti-gun advocates. It might not survive even after reorganization.
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