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In 2013, the year following his second electoral victory, American gun companies produced 10,844,792 firearms, 222 percent more than they produced in the year after the 9/11 terrorist attacks. In 2015, expecting another Democrat in the White House, many manufacturers thought the party would continue, stoked by a combination of gun-control rhetoric and the right-wing media’s confiscation conspiracies. 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 2021, it would have a local work force of 1,868. Second, starting immediately, it had to pay those employees a minimum average hourly wage of $19.50, rising to $20.19 in 2017.
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Remington owed hundreds of millions that it hadn’t borrowed. And its workers, urgently, had to make a lot of guns. Now, Ilardo and Cowman have even more space to grow their business. After selling their wares at area farmers markets, the duo have rented a stall at R.
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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. 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. The California State Teachers’ Retirement System, CalSTRS, is a Cerberus client, as is a pension fund for the Presbyterian Church as well as many university endowments, sovereign wealth funds and philanthropic foundations.
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R. House searching for two new long-term vendors in 2023 - Baltimore Fishbowl
R. House searching for two new long-term vendors in 2023.
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At the top of the employees’ checks, the name “Remington Arms” was printed, along with the address of the company’s new facility at 1816 Remington Circle SW in Huntsville. While the guns were still stamped with the thick-footed Remington R, the company no longer existed as a fully independent entity. Seven years before Remington came to Huntsville, it was purchased, at a relative bargain, by a private-equity firm that controlled tens of billions of dollars from its offices in Manhattan. The news spread around Huntsville, Ala., in the winter of 2014.
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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. House was an attractive venue to do business not only for its foodie vibe, but also because of Seawall’s investment in the surrounding community.
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In 1926, Harter B. Hull, a successful automobile magnate in Memphis with Baltimore ties and a rising star in the dealership world, purchased the Eastwick Motor Company. After his untimely death in 1930, Gilbert A. Jarman, an officer and director of the Hull operation, assumed ownership control. Jarman Motors, Inc. expanded over the years and occupied the property up until 1968. Anderson Motor Company bought the property in 1994.
Breakfast sandwiches are soon to come, and Ilardo hopes to eventually stay open through happy hour and serve arancini (deep-fried rice balls). What the company heard was a yearning for a “third place” — a community space to play, eat and drink — in addition to places to live and work. That much was true for Amie Ward, the lead bartender at R. Ward previously worked at Aggio, but the Remington resident said she was drawn to R. Another large food hall was a natural fit for a city that’s seen so much restaurant growth, R. House General Manager Peter DiPrinzio said, and it was designed to lower the cost of doing business for chefs with fledgling concepts.
Foodies & design aficionados – check out R. House, Baltimore’s new concept-driven food hub - Fox Baltimore
Foodies & design aficionados – check out R. House, Baltimore’s new concept-driven food hub.
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For the first hour of the day, she would stand outside in her jacket and check employees’ IDs as they arrived. Then she patrolled the parking lot in a company car. I eventually met a former employee, who asked to be identified by her first initial, D., and agreed to talk about her experience at Remington.
When the company came to Alabama, it owed $828 million to its creditors. While this number, compared with the company’s earnings, represented a comfortable ratio on the balance sheet, it was nonetheless curious. The debt could conceivably have been explained by the cost of opening a new factory were it not for the fact that Remington got its factory free. As Chandler flew with Kollitides on the plane from New Hampshire, there was every indication that success awaited them below. When Cerberus bought Remington, the company was earning $500 million a year in revenue. Guns sales are driven by anti-gun rhetoric; a popular joke in the industry is that Barack Obama was the greatest gun salesman of all time.
House, a former auto body shop turned food hall. Inspired by the cool and kid-friendly food halls in Brooklyn, the ten founding chefs at R. House believed that uniting was the best way to create a community dedicated to culinary experimentation.
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