Remington Lays Off More In Upstate NY

Remington Arms has laid off 55 more workers at its big manufacturing plant in the Herkimer County village of Ilion as a slump in gun sales continues.

Ilion Mayor Terry Leonard said the plant’s manager told him about the layoffs on Thursday, citing the industry-wide downturn in sales, the Observer-Dispatch reported.

The layoffs come six months after Remington laid off 122 workers at the plant.

Guns sales have fallen sharply since Donald Trump’s election as president. Trump has repeatedly spoken in support of the Second Amendment, easing concerns that many gun owners had during Barack Obama’s presidency that the government was going to restrict gun sales.

U.S. Rep. Claudia Tenney, R-New Hartford, issued a statement saying she was “saddened” by the news of more layoffs at the gun maker.

Read the rest of the article:
http://www.newyorkupstate.com/news/2017/09/remington_lays_off_55_more_in_upstate_ny_amid_slump_in_gun_sales.html

Olympic Arms Announces Closing

After more than 40 years of business, it is with great sorrow that we announce that February 28th, 2017 will be the last day of operation for Olympic Arms, Inc.
The Schuetz family would like to express their heartfelt thanks to all their friends, associates, and partners that have been a part of the Olympic Arms experience. Most of all we would like to thank our loyal customers and patrons who have been with us all this time.

In the course of closing, we are announcing the following changes in policy effective immediately:

  1. All sales are final.
  2. No refunds or returns will be accepted after 1-25-2017.
  3. On-line Shopping Cart will be active and effective while supplies last.
  4. All Warranty service ceases 1-25-2017. Warranty work and repairs currently in-house will be serviced and returned.
  5. New orders will only be taken for inventory currently in stock, or that can be built from remaining inventory.
  6. All inventory will be liquidated.
  7. ALL SALES will cease at close of business 28 February, 2017

Thank you for your patronage.

Stag Arms Manufacturer’s License Revoked

Bob Owens at Bearing Arms notes that: Stag Arms, the Connecticut-based AR-15 manufacturer, has lost it’s federal firearms license as a result of not properly keeping track of serialized lower receivers.

The rest of his article can be found at http://bearingarms.com/stag-feds-revoke-ar-15-manufacturers-license-sloppy-record-keeping/

Press release from Stag Arms:
Stag Arms, LLC today announced that the company and its founder, Mark Malkowski, have reached a resolution with government officials stemming from an investigation that began last year relating primarily to the timing of recordkeeping during the manufacturing process and compliance with federal firearms manufacturing and registration requirements. Both Stag Arms and Mr. Malkowski cooperated fully with the government throughout the investigation. While both Stag Arms and Mr. Malkowski believe that public safety was never compromised, they have agreed to enter guilty pleas and to pay significant fines, because doing so is in the best interests of the company and its employees. Mr. Malkowski has also agreed to transition the business to new ownership and is in advanced talks with a potential buyer. Mr. Malkowski will continue as a marketing consultant to the business and the industry for a period of time following the sale. Stag Arms takes its obligations to comply with all laws and regulations very seriously and has made comprehensive changes to ensure that similar problems cannot happen again and that best compliance practices are maintained in all of its operations.

TrackingPoint Restructures & Relaunches

Back in May, things were looking grim for Austin-based TrackingPoint. The company, which manufactures Linux-powered smart rifles capable of nailing moving targets more than a thousand yards away, had posted a notice on its website saying that it stopped taking new orders. Multiple news sites began publishing stories saying that TrackingPoint had laid off half of its employees and was on the verge of filing for bankruptcy.

Then this past Tuesday, TrackingPoint emerged from what it calls a period of “restructuring” and is once again taking orders. TrackingPoint founder John McHale is now in the role of CEO, and former CEO John Lupher stepped in as vice president of engineering (a role similar to where he was back in 2013 when Ars first wrote about TrackingPoint). Another former CEO, Frank Bruno, will become a Chief Operating Officer.

“The new TrackingPoint is really a clean start for the company,” McHale explained in a telephone interview with Ars on Wednesday. “We have invested $35 million in research and development, so that’s our core asset. And we’re relaunching, recapitalized, with financing from three large investors, including McHale Labs, which is my investment company.” The re-launched TrackingPoint will continue to focus on both civilian and military sales, and the company will have four main products: a large bolt-action rifle chambered in .338 Lapua Magnum, and three AR-15 carbines, chambered in 5.56mm NATO, 7.62mm NATO, and .300 AAC Blackout.

McHale tells Ars that the company’s apparent collapse and near-insolvency was a result of growing too quickly without effective planning and controls. “In the end, we had a massive inventory issue,” he said, elaborating that the company simply sank far too much capital into inventory and wound up with a glut of just about everything—from electronic components for the scope, to barrels and firearms, all the way down to screws.

“We had tremendous growth in 2014, and small companies oftentimes have growing pains where their systems and back-office systems and planning processes don’t keep up with growth,” said McHale. “And that’s what happened to us—in particular, our material planning systems were not adequate.”

Read the rest of the article: http://arstechnica.com/gadgets/2015/09/smart-rifle-company-trackingpoint-restructures-and-relaunches/