The , , , and , however, epitomize the new era of simpler, cost-efficient, yet accurate products that come in a dizzying number of variants. It has been offered in 12, 16, and 20 gauges. Initially, this gun was meant to compete against the Winchester Model It ultimately was phased out by the and discontinued in The Remington Model shotgun is the best-selling gun in Remington history.
Introduced in to replace the Model 31, it has been produced in a vast number of variants and is still in production. Versions have been made for military and law enforcement, as well as for the traditional sporting market.
While many variants exist, it also introduced another successful Remington product—the 7mm Remington magnum. Remington produced one million within the first decade. It even has been dubbed the best-selling autoloading shotgun in history. Like other firearms produced by Remington in the post-war period, the Model was made in a variety of calibers and configurations.
Remingtons are ingrained in the history of the American West, thanks to the notable characters who carried them. He also had a rolling-block rifle given to him personally by one of the Remington sons.
And George Armstrong Custer used Remingtons—especially for sport. At the time, there was no better endorsement than that of key personalities more famous than the guns themselves. We saw this in the 20th century, when exhibition shooter Tom Frye used his Remington Nylon to set an accuracy record in , which was formerly held by Winchester shooter Ad Toepperwein.
Eliphalet Remington II set the tone for his company when he produced the first cast-steel barrel in the United States. He was a trendsetter. As a result, the company became known for its innovation. Remington in the mid to late 19th century was a haven for invention. The company welcomed designers from diverse backgrounds to create new and original products not restricted to firearms.
Witness the typewriters and sewing machines that bore the Remington name over the years. Their contributions often were acknowledged in the model names of their inventions. Some of the most iconic and surprising designs are highlighted here. John W. Keene was a firearms designer out of New Jersey who had perfected a bolt-action-system rifle and magazine. In the s, he filed a patent for his design and partnered with Remington. Lewis L. He created a falling-block rifle, which was sold and marketed by Remington from to about This bolt-action box magazine rifle was designed by Lee and manufactured initially by Sharps until Remington took over production.
Thomas was an employee of Remington who designed one of the more peculiar Remington firearms—the Cane Gun. This curious design was intended to capitalize on the Victorian market of walking canes for gentry. While not a commercial success, it was the first metallic cartridge long arm made at Remington.
Not only did he design this revolver, he worked on several patents, including a rifle and most notably the famous Remington New Model Revolver. Like many designers, he did not work exclusively for Remington; he also worked for Whitney Arms.
William Elliot. William Elliot designed many popular derringers for Remington. He would also submit several designs along with Rider and Smoot for military contracts. Almost years later, the internationally-recognized company is poised to open a new firearms production and research and development facility in Huntsville. Sources told AL. Robert Bentley is expected to join local leaders for an official announcement today at 2 p.
Here are some other notable moments in Remington's history:. That firearms plant is still in use today. The partnership and succeeding corporation goes on the develop the first hammerless solid breech repeating shotgun, first hammerless auto-loading shotgun, first successful high-power slide action repeating rifle and first lock breach auto-loading rifle.
Company is reorganized as Remington Arms. Company is renamed Remington U. Milken could whip together nine figures for a client just by picking up the phone.
The client took the borrowed cash, bought an obscure or struggling company, and tried either to renovate it or to stamp out costs — often through layoffs — and make it profitable. When they failed, the bought-out businesses crumbled. Milken made hundreds of millions of dollars from the fees he earned on leveraged buyouts. His career came to an abrupt halt in , when he was convicted of securities fraud and was permanently banned from the stock market.
Steven Mnuchin, the secretary of the Treasury, has reportedly lobbied Trump to pardon Milken. In , Susan Faludi at The Wall Street Journal wrote a Pulitzer Prize-winning story about a Safeway trucker in Dallas who worked for the supermarket chain for nearly 30 years, lost his job after KKR acquired it and shot himself in the head with a hunting rifle. Faced with all this bad publicity, Wall Street decided it had only one option.
It would have to change the name. We will kill him. The jail sentence will be worth it. Milken financed leveraged buyouts, but Feinberg made his name by investing directly in distressed assets, businesses that were in bad shape financially.
His deal to acquire the parent company of National Car Rental is emblematic of his shrewdness. The industry had matured, too. No longer executing leveraged buyouts exclusively, private-equity firms had a host of investment strategies at their disposal. Because private-equity firms appear frequently as villains in the press, many people assume that they cater mostly to the superrich, earning high returns on investments for billionaire clients.
They do. But by far the most important piece of their business — 48 percent, according to the data-analytics firm Preqin — is investing capital for American pension funds. Beginning in the s, pension managers and unions could see that when the baby-boom generation retired, there would be shortfalls between what the funds were obligated to pay out and the money they had — the so-called pension gap.
An investment strategy that could return 15 to 20 percent a year and close that gap was an irresistible solution. The pension fund for the Boston-area public water utility invests in Cerberus. When Cerberus bought Remington in , the world was hurtling through the greatest rush of private-equity acquisitions in history. From to the crash in , hundreds of billions of dollars a year were deployed in private-equity deals by firms like Cerberus, KKR and Blackstone. There were never fewer than 1, private-equity transactions annually; in the figure peaked at 7, After the crash briefly interrupted its momentum, the industry came back in force.
The United States government was responding to the crisis by lowering borrowing costs to kick-start the economy. For private-equity firms, the access to cheap debt was a gift: It allowed them to purchase a long list of targets, then borrow more money using those targets as collateral. In there were a record 9, deals. If private equity were a country, it would be the fifth-largest economy on earth, beating India, Britain and France. Tommy Battle, the mayor of Huntsville, is a hefty man who speaks in a baritone and wins ribbons at amateur barbecue cook-offs.
Each commemorates the opening of a factory or an office that Battle helped entice to move to Huntsville, mostly using tax incentives. Battle was re-elected in with 80 percent of the vote. His popularity springs from his ability to generate jobs — and to generate headlines about generating jobs. Though his endorsement of Roy Moore, who lost his bid for a seat in the United States Senate amid sexual-assault accusations, alienated some Huntsvillians — northern Alabamians consider themselves more socially liberal than their southern neighbors — Battle is mostly beloved by his constituents.
In , Battle learned that a site-selection consultant, someone who helps businesses looking to expand or relocate, was sniffing around the South on behalf of an unnamed manufacturer. The consultant, Michael Press, was an old hand in the tax-incentive game.
In the s, advising the New York City mayor Ed Koch, he wrote many of the incentives that Amazon recently claimed in its ill-fated bid to build a headquarters in Long Island City. When Press was hired to find a Remington factory, he did what he always did, sending letters to multiple states soliciting bids, inciting competition without disclosing his client.
By choosing to place Remington in a Southern state, Press was acknowledging how much the gun business had transformed. During the Civil War, arsenals in Massachusetts furnished huge quantities of firearms to the Union Army.
But social mores had changed. There was a secondary benefit. They were difficult to fire, and they stuck together. In some cases, multiple generations of men in the same family had worked on the line. If Press had every reason to send his client south, though, he lacked any special affection for Huntsville. For one thing, he explained to me, the airport had a shortage of worthwhile direct flights.
For another, the technical labor pool was limited compared with those of larger cities. Press fine-tuned his list, disclosed the name of his client, and flew to Huntsville for a series of meetings, still skeptical.
They flipped their cards one by one. The Tennessee Valley Authority would provide discounted electricity. Press could scarcely believe his good fortune. In exchange for tens of millions in incentives, Remington had only to commit to a few terms, laid out in a fat document called a development agreement. First, it had to hire enough employees every year so that, in , it would have a local work force of 1, All parties signed. Private-equity firms typically replace existing managers and install handpicked lieutenants.
At Remington, George Kollitides was made chief executive in A Cerberus managing director until that year, Kollitides was a private-equity star and a fixture in New York philanthropy circles. He received his M. Kollitides declined to comment for this article. Handsome and charming, he persuaded a number of sought-after executives to relocate to Huntsville.
George convinced me that they had a dream in Huntsville, and I believed him. The dream was lofty and ambitious, and Huntsville was only a piece of it. Cerberus had been trying for years to assemble a dominant American gun company.
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