The Navajo Nation offered a cash offer to buy Remington, America’s oldest and largest firearms makers, for $475 million to $525 million. The Navajo Nation planned to focus on police and defense contracts, stop manufacturing AR-15’s, and invest in “Smart Guns” with fingerprint technology to prevent anyone but the gun-owner to use the gun. Remington rejected the offer.
Remington just emerged from bankruptcy this spring and has two creditors that would have been paid had Remington accepted the offer from The Navajo Nation. Franklin Templeton and JP Morgan Chase are the creditors. If I was in debt, had declared bankruptcy and had creditors waiting for payment, I bet I would have to take any offer I received to pay off my debts. I wonder why Remington gets a free pass? Why do we have rules for some and not for others?
I support the Navajo Nation’s offer to purchase Remington. I hope they continue to pursue this avenue. We need more sensible gun manufacturers that want to help our communities rather than hurt our people.