kevin brittingham net worth

Engineers should engineer, lawyers should lawyer, managers should manage and worker-bees should worker-bee. As a guy, like David Horowitz, who went from the Left to the Right, his insights combined with his ability to write is just down right brilliant. The end result of the negotiations with Jason Schauble was that AAC would be a separate entity owned by Remington, but completely independent in operation. He was summarily fired for guns that either werent actually his or were being legitimately used for R&D purposes being in the shop, and that was a breach of the contract from Freedom Groups end. 2 years later, hes fired from his own company, and she cant understand how. Remington eventually sent a single person to iron out the compliance issues, in the form of a former private investigator with a few days of ATF training and no background in compliance whatsoever. 1. Or where a random suppressor may or may not have showed up not-so-randomly on company property for KBs personal use. You\'ll receive the next newsletter in your inbox. You gotta say no up front. Accounting for enforcement is particularly important when the system in which you operate is powerful, complex or arcane, so working the system can pay off better than doing the work. Most interesting to me is that during the run-up, the folks speaking out against the bubble, and indeed betting against the bubble with their on money were the most demonized. A fool and his company are soon parted. It is only as good or benevolent as the people in it. SIG SAUER welcomes Kevin Brittingham to lead its new SIG-SD Silencer business unit, as well as other special programs within its Military/Law Enforcement development activities. As such all they had to go on were the bound books for the new FFL, and the guns they were putting in the Kevin pile turned out to indeed be related to the sale of the company years earlier. Look, I grew up in rural America, he said. For several values of they, as we say in the nerd-pool. . Guess Ill have to look to other manufacturers now. Remington makes good products. [2] Under his direction, AAC grew to be one of the largest suppressor manufacturers in the U.S., including a number of small military contracts. By the end of his second day, he was consistently hitting targets from a thousand yards away the equivalent of 11 city blocks. Schauble won a number of military contracts for Remington Defense and helped negotiate the purchase of Advanced Armaments Corporation, a start-up manufacturer of gun silencers. [5], The company's Titan-QD Fast-Attach suppressor is used on the US Army's M2010 Enhanced Sniper Rifle and the Remington MSR (Modular Sniper Rifle). Brittingham, the founder of Advanced Armament Corporation, currently holds more than 40 patents in the firearms industry. He's a lawyer and civil rights/gun activist. There was no disguising its military heritage, but by stamping a storied brand onto this menacing instrument, Cerberus was able to expand Freedom Groups business in both the traditional gun-store market and the family-friendly sporting retailers. Advanced Armament Corporation (AAC) is an American company that develops and manufactures firearms, firearm suppressors, muzzle devices and related accessories. Someone please correct me if Im wrong, but thats what I think is the answer to your question. They certainly didnt. Yep. One major legal case challenged the NFA, and would have been successful save for a technicality causing the plaintiff to drop/abandoned the action. Indeed, it seems the more powerful the system, the more coverage and leeway for jerks. Juan and his family collected $270 million before taxes. Many of these accessories were of questionable utility. I wrote a piece about this some years back titled Chinese Contracts got me a couple nice reviews, for example from The Trusted Advisor. (Apologies to our Dear Overlords if Im over the self-promotion line with this. Using a technique employed by Special Forces operators, he then taped these magazines together into bundles of three, allowing for immediate reload. TAPCO It was a moot point, according to the judges decision, because Kevin was present during that photo shoot. By some karmic coincidence, Martin Feinberg, Stephens father, lived in Newtown, in a senior community. On December 20th Kevin stayed late after a full day of work, disabled the main security camera, and removed all of the personal items that he could get his hands on. He spoke quietly, patiently, in a gentle New York accent. Technically as soon as the company was sold they needed to start operating under a new FFL, since they had only purchased the assets and not the business itself. Within weeks, Reichert had a business plan and had assembled a team of military trainers, including a number of special-forces veterans. These (that I have seen) have a buyout if they let the individual go early. Freedom Group regularly introduced must-have innovations threaded triangular barrels, polarized scope filters, lightweight polymer stocks and customers rushed to outfit their guns with the latest in firearms tech. Students are such easy targets. Having once sought a billion dollars for its investment, Freedom was, according to insiders, now internally valued at just $400 million. ADVANCED ARMAMENT The thing was doomed because there was perhaps no meeting of minds, but certainly somewhere along the line the understanding of the deal diverged. REMINGTON LE That same year, Remingtons annual sales fell almost 35 percent from its post-Newtown peak, even as Remingtons public competitors outperformed. (Quayle was supposedly still respected in Asia, where Cerberus did a lot of business and where his malapropisms didnt translate.) And a linguist named Emily M. Bender is very worried what will happen when we forget this. The dual-band career is the reason why Eric Brittingham is one of the wealthiest guitarists with a net worth of $6 million. With this ruling we have a pretty good case that we need to consider a mass boycott of FG, period. I cant help but see some fault from Brittingham as well. Can you name a bullshit free marketer who opposes the sanctity of private contracts? Things you buy through our links may earn Vox Media a commission. She has also appeared on shows like 'Celebrity Page' and 'Below Deck Mediterranean'. That marketing was the focus of the lawsuit brought against Remington by the victims of Sandy Hook. Problem is, its state law where we live that this practice is 100% illegal, and the AG even sent letters out to remind companies of this. Q&A With Kevin Brittingham, the Most Radical Guy in Guns Tactical-Life 68.6K subscribers Subscribe 10K views 3 years ago Tactical Life gets some rare face time with one of the more unique. Running a company from inside a jail cell is tough. Jack Brittingham Born: June 14, 1958 (age 64 years), United States Jack Brittingham Instagram net worth How much money is Jack Brittingham making on Instagram? If MACs review didnt end the desire, this sure did. Reichert, the shooting instructor, eventually left Tier 1 Group to work on a classified high-tech firearms program for DARPA. Theyre great for urban encroachment, said the companys founder, Kevin Brittingham. Its impolite to call your customers wannabes, said the former Cerberus insider. The problem was not anticipating these problems and accounting for them enough. Fortunately for him, at least there was one thing that always, infallibly, drove gun sales through the ceiling: a mass shooting. Most of these fees could be collected only once the investment had been closed meaning that even before he entered a business, Feinberg was thinking about how to exit. I also read the entire 117 page judges ruling in the case. Theres no systemic cure for that. Lots of reasonsand someone can probably say this better and with more authority than I can but. Silencers turn shooting more into golf.. Related: 'Real Housewives of Dallas': Did Bravo Fire Former Housewife, LeeAnne Locken? The city threw out a Democratic mayor for the first time in decades. Its interesting to me that everything done in the run-up, with the possible exception of conglomerate financial firms falsely reporting the value of their assets when they knew better, was perfectly legal. Remington and Freedom Group manage products for the masses.completely out of line fundamentally with AACs products. FGIs management are not gun guys. Theyre a bunch of Wall Street parasites. The question I have is why? This kind of organizational nonsense will come out in the products eventually. No thanks! They made something, made it well, and EARNED every penny, WHILE treating their employees very well. Others, some on TTAG, have written more comprehensive and eloquent summaries than this. [25], Integrally suppressed rimfire firearms (discontinued), Last edited on 16 February 2023, at 06:54, Naval Surface Warfare Center Crane Division, "Freedom Group, Inc. Forms Office of the Chief Executive Officer", https://cdn0.thetruthaboutguns.com/wp-content/uploads/2020/09/27092020123649821_1231_20202709124853872.pdf, "Hanna Announces Remington Receives $80 Million Contract", Army's XM2010 sniper rifle gets full fielding, "The Quiet Continues: Suppressed Pistols", "Advanced Armament Corp Awarded Contract for Family of Muzzle Brakes", "300 AAC Blackout, New Caliber, New Mission", "Frank Girardot: It's Time to Get One of Those "I Voted" Stickers", https://en.wikipedia.org/w/index.php?title=Advanced_Armament_Corporation&oldid=1139661252. Mr. Bittingham is not blameless in this episode. Now add FG, who is coming in, buying the company with the two FFLs, and which may be taking possession of some of those NFA itemsand you have a huge problem. This was set up as a means of getting pretext charges against gangsters who were fond of the military grade hardware of the age. I wonder if Kevin Brittingham would be interested in investing in a line of flamethrowers. Any contract that calls for payment to the seller on the come provides an incentive for the buyer to jack with the seller. Among these customers was Nancy Lanza, of Newtown, Connecticut. So one weekend in late 2005, he left behind the Manhattan offices of Cerberus Capital, the private-equity firm he'd founded, and his multistory Upper East Side residence, which he was in the. Inflation and public interest would work to somewhat normalize the stamp issue, but by now the sheer volume of bureaucracy surrounding the process is a barrier in and of itself. In the comments, shed posed the question: Who is my dad.???????. In Iraq, in 2004, he had shot a man from over a mile away, one of the longest confirmed hits by any American soldier in the war. They were driving awfully fast down the road. After a year on the board, he quit. Um, ever heard of Microsoft Windows? [19], In 2016 the BlastOut gives users the ability to redirect muzzle blast forward when shooting unsuppressed. A big thumbs down to FG/Remington for not insisting that all the FFL/NFA/ownership stuff not be cleaned up prior to closing. There was huge competition between partners, said one former employee. That part of the case could easily have gone the other way. Your continuing to work for a company that is no longer yours is a completely different matter than the buy-out price of the existing company at the point where ownership and control is transferred to the buyer. But revenue remains soft in a market still saturated by the assault-rifle-buying frenzy of 2013, and Remington, in a tacit acknowledgment of its critics, has abandoned the kind of combat-oriented marketing imagery that so excited its customers. But the social fallout had cost it dearly, affecting its ongoing access to capital in a way it hadnt foreseen. Model 123. Not budding hunters, necessarily participation rates in the outdoor sports had been stagnating for years. Good read though. On the stand, Remingtons own ATF expert testified that the practice was indeed illegal. And, like fashion, the real money was in the accessories. The intent of the law was to get bad people off the streetsin theory. Kevin wanted silencers to be mainstream, and getting Remington to start marketing silencers would be a major step forward. Another option would have been to sell off the most controversial product lines, like Bushmaster, but the centralization of manufacturing made that impossible, too. This has led to far wider adoption than the .300 Whisper, which is proprietary to SSK. Needless to say, if they try pulling that crap when she leaves Im not allowing them to get away with it. Wed get after-action reports from the front lines, saying these tactics saved us, or this medical training saved us, with details, Reichert said. When youre transferring a fairly large amount of machine guns from three seperate FFLs dependent on set dates of the sale, some of which are private owned and on site at times and not at other times, every time it changes possession every move that needs to be recorded, but theres photoshoots, testing, etc often. Reichert declined but noted that Feinberg offered to pay for medical care for a number of other injured veterans as well. City to Pay Millions to Protesters Kettled by NYPD in 2020. Freedom Group used its integrated brand portfolio as leverage. And in return, Remington would provide support with ATF compliance, record keeping, and give them access to Remingtons extensive distribution network. The only thing he hard from Remington was that he had been fired for cause, which would void his employment agreement and leave him out $4 million. Remington acted like a giant back of dicks, but it seems like he wasnt running the business solidly before the buyout too. The next year was even worse. Scummy business practices that too many companies engage in these days, and why I cant side with the bullshit free marketeers who want places like that to have no laws or regulations controlling their bullshit. No insult intended to Brittingham, but I suspect he would have preferred to have done things differently and avoided all of this in hindsight. Throughout the years, Cerberus has owned controlling stakes in dozens of businesses. Its basically a non-story. Schauble and the rest of the Remington and Freedom Group board were not aware of any misconduct that would give them a reason to can Kevin. Donald Trump Jr. The one exception Ive seen is acquisitions in hot areas of IT / Software. So did a former Bushmaster employee I spoke with, whose complaints about Cerberuss conduct sounded, at times, more like complaints about capitalism itself. They told him that he had been fired for cause and that he could return if and only if he signed a document saying that he admitted fault, agreed to a lower pay (previously $250,000/year), and was on probation for a year during which they could fire him without notice. Its the investing equivalent of toxic waste. That made him happy., While Feinberg generally stayed out of Freedom Groups day-to-day affairs, he took a personal interest in Remington Defense, the companys military-supply wing, appointing Jason Schauble, a former Marine Corps captain, to run it. Theres no doubt were taking customers away from the old Bushmaster base, Dyke said. Customers, employees, et al can go screw themselves, as theyre completely expendable. Reichert named the company Tier 1 Group, after the Defense Departments designation for its top-level commandos. Unable to find a buyer, Feinberg proposed a deal: Hed pay a special onetime dividend from Remington Outdoors accrued earnings, letting investors cash out, and Remington would be placed in a special-purpose vehicle, concentrating ownership of what remained in the hands of a few die-hard Cerberus insiders. . Matter of fact most of the gun industry is pretty much Tonys Car Repair stuff. If thats the only offer you can get, that may be a hint. Plays Incompetent Willy Wonka at CPAC. By focusing on the military market, and especially special ops, you can translate that to the commercial market, Brittingham said. Back in the early 1900s, 1930 or so I believe, a law was passed creating the class 2 and 3 NFA tax stamp nonsense. Disarmament rests on the assumption that all people are good, and, basically, want the same things. He likes guns. Soon, Remington-branded assault rifles were available at Walmart. He alienated many of Freedoms top managers and accelerated a program of manufacturing consolidation that centralized production in Remingtons main facility in Ilion, New York. Although the PLCAA granted immunity from lawsuits of this type, lawmakers had left an exception: negligent entrustment. This term referred to the rights of victims to sue gun dealers who had sold weapons irresponsibly say, to a customer who was obviously drunk or homicidal. Much of it was encouraged at the time by speeches, quite a bit by regulation & guidance, and some by legislation. Kevin Brittingham founded AAC, and his success was due in part to the culture that the company cultivated. He had used these as tools to test new silencer designs, and since he owned the company he never saw the need to officially transfer the guns to AAC or buy replacements. Youre betting that you are at least as good at working the ref as the other guy, and willing to do so. There had been Big Pharma, and Big Oil, but never Big Gun. During this time, as court documents showed, Kevin had succeeded in pissing off Freedom Group to the extent that they were actively looking for a reason to fire him. It was exciting too as it was the first gun that we had in stock when we released it. Reichert would forward these reports of Special Operations daring to Feinberg. Brittinghams mistake, along with cutting a deal with jerks, is orchestrating a sale when he wanted a cash infusion & channel resale relationship. Walgreens Wont Sell Abortion Pills in Red States Even Where Its Legal. Its nice to see the innovator and underdog in the market smack the big lazy dog that was trying some underhanded crap. Signing a contract with the word flounder in such a way that it appears as a signature on casual inspection is not an upstanding move either. View the profiles of people named Kevin Brittingham. The company was debt free and making money hand over fist, so Kevin never saw a need to sell. Or, perhaps more subtly, for anything that pays out later, you either have enforcement costs, or you better design things so everybody benefits together. It doesnt surprise me that our government would put in place rules/regulations that stifle design and innovation, they do that all the time. Realizing that AAC would not be able to function without using Kevins personal guns for R&D, the deal allowed time for those guns to remain on premises while the transfer was taking place. Ethically challenged executives and managers are pretty much the standard. My takeaway from this is theres a market for an independent consulting/auditing group that specializes in NFA compliance for small firearms businesses. These types of companies even try to violate laws on the books specifically written to prevent them from being scumbags. The owner was having some cash flow issues, so he sold controlling interest to larger company. There, the acquiring company often has a retention payment for key players to keep them around through the integration. Gun manufacturing had historically been an artisanal business, and gun buyers liked it that way. So you have one failed business buying an out of control business. It also probably means a paradoxical slackening of demand in the gun market, further devaluing Feinbergs investment. With the help of some decent legal counsel, hell continue to be an innovator, and he won his case against corporate big wig a$$holes. 2024 Polls Show DeSantis Cant Easily Knock Out Trump. Their aggregate net worth was $6.48 trillion, $570 billion less than last year. PLCAA granted gunmakers broad immunity from lawsuits from victims of gun violence. Kevin thought that he was canned, but Remington offered him an option. But this R&D is related to our RKBA, so why is it ok to do this? This push for efficiency meant laying off skilled workers, introducing manufacturing defects into Freedom Group products. Black AR-15 style .223/5.56 Rifle with shoulder thingy that goes up. Becoming an employee is a trap, theyre just looking to screw you. Not later, not contingent upon some future issue. Freedom Groups connection to the bailout rankled right-wing gun enthusiasts. It currently owns the Albertsons supermarket empire and previously owned the Alamo and National car-rental chains. The opposite of equitable rule of law could be an oligarcy, feudalism, corporatocracy, or any various flavors of totalitarian collectivism littered throughout history where the law, such that it is, is used to bludgeon the little people and potential competitors, but passes are handed out like candy on Halloween for the properly connected and/or titled (ahem Obamacare ahem). Taking into account various assets, Kevin's net worth is greater than $100,000 - $249,999; and makes between $70 - 79,999 a year. ;-P. I think Ill defer any future purchases of products owned by or associated with Remington or the freedom group. MPW (Multi-Purpose Weapon), a rifle chambered in .300 AAC Blackout, made with 16" and 12.5" barrels. Via iRealHousewives. It makes no sense. The original idea, of an IPO, was out of the question: No reputable investment bank would underwrite it, nor even take the M&A fees associated with a private deal. Sales of the R-15 boomed. Expect awesome shit.". Jamie Reeds shocking account of a clinic mistreating children went viral. Vish Burra, the congressmans director of operations, met me on Staten Island to explain the plan to make Santos president? I hope Remington and Marlin excuse themselves from the toxic environment of FGI, and Im glad that Kevin is free. I think we are at the juncture to discuss whether we want to make a leadership change for the long term at AAC if we believe that KB is not up to the task. Kate Bedingfield, Bidens Translator, Leaves the White House. Its hard to find an investment that is guaranteed by law to pay 9%/year. [6][7] The suppressor eliminates 98 percent of muzzle flash, 60 percent of recoil, and reduces sound by 32 decibels. If we terminate [Brittingham] at our discretion before the end of his year, we might lose Lynsey [manager at AAC and co-plaintiff in the suit]and we might lose Robert [Silvers, R&D genius and 300 BLK designer], and we might get sued, but we will keep a lot of other people and Ill personally go down there and put people in place that will endure in the longer term and continue to grow this business.

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