The Business of Guns

the Erie Canal allowed him to sell his products to downstate New York and neighboring states. Like many other competitors, Remington’s sales soared during the Civil War, allowing the company to go public in 1865 and during both world wars. Remington Arms developed the first hammerless repeating shotgun (a shotgun that can load a new cartridge without needing to pull the hammer back) and the first slide-action repeating rifle (a gun that the shooter pumps to load a new round). During World War I, Remington Arms won the lucrative contract to produce guns not just for the U.S. Army but also for Russia. However, Russia suffered defeat after defeat, eventually leaving the country without the money to pay Remington for the guns it had purchased. With Russia facing bankruptcy due to voided contracts, the U.S. government had to step in to purchase the spare guns so that the company could survive. Remington continued a brisk business with the outbreak of World War II, selling guns as well as ammunition, and earning five times as much profit in 1940 as it did in 1939. The U.S. government suggested the company expand to meet the military’s needs, and Remington built five newmanufacturing facilities, allowing it to supply a variety of weapons, including 2,000 high-powered rifles for the U.S. Navy that were never actually used in the war. Following the war, Remington also began to manufacture other outdoor equipment to diversify its offerings, including clothing and even surveillance systems, yet its core business remains the sale of guns and ammunition. A new factory in Alabama that produces Remington’s products has been said to have raised the state economy by nearly $100 million. Today, Remington is still a primary manufacturer of weapons and ammunition for military forces in different countries, including the United States. But like its competitors, its recent history has been one of struggle. The company was sold in 2007 to a private equity firm to balance its books, while it temporarily

Chapter 1: Manufacturers

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