Poetic Justice For Victims of Gun Violence

Gun manufacture Remington Outdoor Company is facing serious financial difficulties, as it struggles to find a way out from under a crushing $950 million pile of debt.  Credit funds and banks have balked at coming to Remington’s aid because of the reputation risk associated with such a move.

Remington  was abandoned by  private equity fund investors after one of its Bushmaster rifles was used in the 2012 Sandy Hook elementary school shooting that killed 20 children and six adults.

It is ironic that the gun industry has experience unprecedented sales declines and financial difficulties after its successful campaign to elect a slew of Republican candidates in 2016.

Gun giant Smith & Wesson, which has renamed itself American Outdoor Brands, said that its quarterly net sales had declined nearly 40% in the fiscal quarter ending July 31.   Remington’s sales have also been experiencing the “Trump slump," with a 78% decline in earnings.

The “Trump Slump” in gun sales has had a punishing effect on the stocks of US-based firearms manufacturers. Publicly-traded Sturm Ruger & Co and American Outdoor Brands have shed 27% and 43% in market capitalization, respectively, since mid-June, as consumer urgency to stockpile has receded under the unified Republican-led administration and Congress.