Here are a few news notes from the firearms world.
First, Weatherby® is moving. The iconic magnum rifle maker is leaving California for more friendly territory, specifically, Sheridan Wyoming. Weatherby® company president Adam Weatherby, the grandson of Roy Weatherby who founded the company in 1945, had this to say about the move, “We are truly pleased to announce our relocation to the state of Wyoming. Governor Mead and his team at the Wyoming Business Council have outdone themselves in their recruitment of the Weatherby headquarters. We are looking forward to operating in a state that truly supports the Second Amendment and provides some of the best big game hunting in the world. Their tax friendly environment, low cost of living and growing workforce will undoubtedly help us grow as we look toward the future. This relocation will be one of the largest undertakings we have done since my grandfather founded this business in 1945, but I believe it will prove to be one of the most significant chapters in Weatherby’s history.” In my opinion, this is a very prudent action on the part of Weatherby®. Lower taxes and a firearms friendly environment will be good for the company.
By the time you read this Remington Outdoor® will have probably filed for bankruptcy. Cerberus Capital Management LP, the same group of geniuses that catapulted Chrysler into bankruptcy has managed to do the same with America’s oldest gun maker. Estimates are that the company is 1 billion dollars in debt. It will be interesting to see if the company can emerge from reorganization as a profitable concern, or go into receivership and sold off piecemeal to the circling sharks. Only time will tell; good luck big green.
Finally, there have been reports in the press that gun sales are slumping. There is a little bit of truth in those reports, but firearms sales are very healthy. In fact 2017 NICS background checks were second only to 2016; over 25 million checks were recorded in 2017. Granted CWP checks are often done through NICS, but the vast majority of background inquiries are for firearms purchase. Firearms manufacturers ramped up production in 2016 in anticipation of a different result in the ’16 presidential race and now is a great time to buy a gun. There are deals everywhere and ammunition supplies are also plentiful and very affordable. Check out the bargains, you’ll be pleasantly surprised.
Be safe and good shooting.