Tennessee is a right to work state. Huge new Volkswagen plant in Chattanooga. GM plant at Spring Hill. Nissan plant at Smyrna. Nissan North America Headquarters in Franklin. Nissan Engine Plant in Dechard. Barrett Firearms Headquarters in Murfreesboro. Rio Ammunition in McEwen. Bring'em down south. A state that did not vote for Obama or Al Gore. You Yankees can learn to say "Y'all" instead of "youse guys". And that any soft drink is a "coke" and not "pop".
Not hardly. The last renovations and up-graded of the Illion facilities were financed with bonds issued or backed my NY state gov't or quasi-gov't agencies. Unless Remington pays off those bonds they are stuck in NY. And one glace at Remington's balance sheet will show they have no way to pay off those bonds or refinance them.
Mr. Browne....in case you haven't noticed or wanted to....Remington employees pay state and federal taxes thereby contributing to government costs...not so for the most part in the non contributing free loaders getting Obamaphones and Obamabucks. Where and when were you able to see Remingtons balance sheet? And the Welfare president continues his destruction. ed
Mr. Browne....If indeed you do have access to the balance sheet of Remington, have you compared that to the balance sheet of the United States under Obamas watch? I think you and Bob Beckel have the same illness caused by inhaling much too deeply when Obama cuts wind. ed
The last time I was in Madison, North Carolina there was a sign at a plant calling itself Remington. This is the same town where I have heard Ruger was planning a new plant. Are we talking about the same Remington company here?
If Remington is leaving NY, is it in part that NY policies are not good for business or is it because of the NY "Unsafe Act" or a combination of both. If true Cuomo is losing a lot of taxes and it serves him right. ed
Regardless of the actual mechanics of Remington's relationship with NY, I'm all for the firearm industry moving out of states proven themselves to be unfriendly. And unfortunately, all citizens of those states need to suffer, even the shooters, in order to make the necessary changes. How many NY anti-gun politicians have been recalled or voted out since the knee-jerk Sandy Hook response?
I specifically enjoy it when departing industry cites names and reasons behind their migration.
Eutopians are not good businessmen.
Barker - How much that contract helps their balance sheet depends on what they do with any profits from the contract. If they use the profits to pay down debt it will help, but not that much. The have a whole lot of debt.
They did a $20 million expansion of their facility, so maybe $20 million of the $80 million contract went to finance that expansion. Or maybe (probably) they took on some sort of debt and hope to pay-off that debt with the profits. Or maybe the profits will go retained earnings and subsequently go to finance some other project. Or maybe the profits will roll to Cerebus. Hard to tell what the profits will be used for, but it won't make a whole lot of difference to the balance sheet.
BTW - A few minutes on Google got me financials for Remington. Seek, and ye shall find.
King (Governor) Cuomo could care less if Remington moves out of New York State as it has no affect on his support base, the voters in NYC and Long Island. The massive loss of these Upstate jobs only strengthen the goal of his " NY SAFE ACT" to get ALL of the guns out of New York!