Winchester Agreement Signed!

GunGopher

Hello all,

Well, we've been trimmed back to 75 days, but we've got our window to try to keep Winchester an American brand. There will be an article coming in the Wall Street Journal, but for now here is the link to the press release.

http://www.savewinchester.com/newsdetail.php?id=10

Thank you to all of you who have helped by visiting the site and a special thanks to all those who have filled out the speak out page.

Mike

select-fire

Well put a hold on all overpriced Winchester's on the market now..[8D][8D]

Frogbert

You're welcome, best of luck![8D][:)][8D]

scottm21166

is it going to be publicly held?

Captplaid

I hope they don't try to dump the pensions on the federal government and reopen under the old name. I find that habit disgusting. Most times it is better to pay the obligations and stay out of business, than to screw the retirees.

Past examples include United Airlines, and Anchor Glass Container Corp. We have too many airlines. UAL paid too much to buy the competition. They deserved a fate of death. Let supply and demand sort out the poor competitiors.

Anchor Glass is in a similiar boat. THey went bankrupt and dumped their hourly pension plan on the federal government. They were bought by an buy-out firm and eventually went public again. Good right? Wrong. Anchor went bankrupt again. They are currently owned by the creditors. Beer bottles is not an industry that is in national interest. Anchor should have been allowed to die a merciful death. Retirees get a lower pension, lose heath insurance, and moe importantly, we the tax payers are forced to pay the pensions.

The federal government doesn't pay welfare, tax payers do.

Don't get me wrong. I am not suggestion no one should pay the pensions. THese companies commited to pay the obligation. When they go out of business or bankrupt, there is money to pay the obligations. Unfortunately, these companies are allowed to take that money and pay creditors and screw retirees.

I have a problem with that.

GuvamintCheese

The way I read it is they will try to sell the realestate,eqt. and Trademark. I dont think that there are many willing to shell out what the asking price is, Im sure there are quite a few zeros.

" The consultant will seek a manufacturer willing to purchase the property, the intellectual assets and the right to use the Winchester name. The manufacturer also would have to agree to assume the lease for the property with Science Park. Kevin S. Tierney, president of Workout Solutions, will partner with Michael H. Blank of MHB Enterprises based in Saint Charles, MO to obtain the benefit of MHB's industry specific expertise and assistance"

He Dog

One can only hope if someone else licenses the Winchester name and begins to manufacture fire arms in New Haven, that quality will go up significantly. Otherwise it is unlikely they will last.

Doc

He Dog, one of the big problems is that Olin of Utah currently owns the Winchester name. They charge an arm and a leg to put it on guns and it's driving the cost out of sight to make guns bearing the Winchester name. The current owner wants to continue making Winchesters only if they can buy the name but so far Olin has refused to sell.