kevin brittingham net worth

I would have been more comfortable with the people. Thats possible, but the kinds of connections you needed to persuade the Feds to bail out your bad auto-industry bet for $30 billion were more readily available to graduates of Princeton than UC-Irvine. The US Navy Special Warfare Group approached us shortly after Remington had purchased Advanced Armament from me. Dyke, who remained on Bushmasters board, sensed he was in unusual territory. Add a Comment. Wow, lot of work went into this one. When the company grows beyond a certain point, the owner/founder should have someone to handle the legal stuff. I can paint the outline in broad strokes though. Eric Brittingham was born in Salisbury, Maryland in May 1960. Some belonged to military families, but many were just hobbyists. Matter of fact most of the gun industry is pretty much Tonys Car Repair stuff. Someone please correct me if Im wrong, but thats what I think is the answer to your question. Kevin Brittingham founded AAC, and his success was due in part to the culture that the company cultivated. #654321cba Pink Fluffy Hunter Firearms. This entire mess wouldve been non-existent had they not had to contend with ATF compliance.. What set the expert shooter apart was the ability to read the wind. I have researched our Plan B options with APA, old employment agreements, new employment agreements, term sheets with probation statements, etc and can give you the bottom line tomorrow . These types of companies even try to violate laws on the books specifically written to prevent them from being scumbags. Cerberus agreed but was a less generous manager. Reichert, the shooting instructor, eventually left Tier 1 Group to work on a classified high-tech firearms program for DARPA. Cerberus put up the capital, purchasing a shooting range on the outskirts of Memphis for Tier 1s facilities, a sprawling 800-acre private military base with a half-dozen shooting ranges, on-road and off-road driving courses, a parachute-drop zone, and an urban-combat compound designed to look like an Afghan village. This despite Kevin meeting and exceeding his stated performance goal (growing the company by over 100%, more than the amount required by the employment agreement). [19], In 2016 the BlastOut gives users the ability to redirect muzzle blast forward when shooting unsuppressed. The law even states you cant make someone sign an agreement to forfeit it. Concentrated into a smaller demographic were the serial gun purchasers, a hard core of about 3 percent of the U.S. population. 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. 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. 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. Kevin wanted silencers to be mainstream, and getting Remington to start marketing silencers would be a major step forward. Its like handbags for women.. Freedom also benefited from broad growth in the American gun market. He envisions a company with 50 people run with real leadership. Ive skipped over a lot of detail. Instead, it's long-term commitment. This push for efficiency meant laying off skilled workers, introducing manufacturing defects into Freedom Group products. Engineers should engineer, lawyers should lawyer, managers should manage and worker-bees should worker-bee. So it seems as if there was a lot of confusion and scheming around this issue. Your above incontinence misses the main point of this post: Private contracts between two parties were treated as toilet paper by one party. Soon after the sale, Bushmaster was folded into Freedom Group, the holding company Cerberus had chartered to conquer the gun business. Net Worth in 2022. Disabling a security camera is NOT shady compared to a major corporation trying to cheat you out of $10,000,000!!!! No, you never, ever do this. Forbes magazine estimates it at $1.2 billion; office gossip at Cerberus puts it closer to $3 billion. Can you name a bullshit free marketer who opposes the sanctity of private contracts? Before he went into the gun business, before he started buying assault-rifle manufacturers, before he expanded into scopes and silencers, before he rolled up 18 of Americas most lethal companies into a single conglomerate, before he funded a private military base, before the massacre, before the investor revolt, before the recalls and the product defects and the bad press and the lawsuits before any of that could happen Stephen Feinberg, the billionaire financier, had to perfect his shooting technique. PLCAA granted gunmakers broad immunity from lawsuits from victims of gun violence. Trumps victory means Feinberg will ascend to a position of influence he has never experienced before. For Americas wage laborers, a 32-hour workweek is less of a beautiful dream than an oppressive reality. Perhaps no single person benefited more from the automotive-industry bailout than Stephen Feinberg, who, in all other respects, was a conservative. Over time, Reichert became Feinbergs friend. There's Robby Johnson as overall VP, Ethan Lessard to VP of Engineering . [6][7] The suppressor eliminates 98 percent of muzzle flash, 60 percent of recoil, and reduces sound by 32 decibels. its above the asking price he wants/needs). Kevin Brittingham founded AAC, and his success was due in part to the culture that the company cultivated. But the fear of regulation in the aftermath spurred gun hoarding, and this was good for Cerberus. On December 19th, Schauble got his response. Idiots. MPW (Multi-Purpose Weapon), a rifle chambered in .300 AAC Blackout, made with 16" and 12.5" barrels. But thats the gist. Remy, Freedom group, whoever has 18million reasons not to pay him and spend at least half that money on lawyers to try and keep from paying him. Remington acted like a giant back of dicks, but it seems like he wasnt running the business solidly before the buyout too. When Adam Lanza shot his mother, Nancy, in her sleep on the morning of December 14, 2012, he used one of her bolt-action rifles, a Savage Mark II. I havent seen too many buyouts turn out well and this is one of them. Kevin thought that he was canned, but Remington offered him an option. Kevin Brittingham: In the 24 hours after we put it on the website for retail, we sold 600 of them. Juan and his family collected $270 million before taxes. Ten years later, he was running his own firm. Wed get after-action reports from the front lines, saying these tactics saved us, or this medical training saved us, with details, Reichert said. As the head of Cerberus, he personally owns a controlling, concentrated stake in the firm likely a majority. His marketing prowess mated with an uncanny sense of innovation alone would get him going in the right direction. I hope Kevin starts a new company and blows freedom groups profits out of the water. Reichert declined but noted that Feinberg offered to pay for medical care for a number of other injured veterans as well. Freedom Group and Remington had conspired to find a way to fire Kevin in order to save $4 to $8 million that he was due as performance incentives and pay.. 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. A free market is better than the centrally controlled and redistributive alternatives, but it doesnt have a benevolent hand like some sort of benign deity. Meanwhile, with elementary schools across the country now forced to conduct active shooter drills, the California teachers were demanding out. Lazy in wanting some other company to magically make the problem go away, and foolish to relinquish control of his company. 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. A catalyst was the Protection of Lawful Commerce in Arms Act, pushed by NRA lobbyists and passed by a Republican-controlled Congress in 2005. Having said that, Freedomless group tried to pull a dirtbag move and they received the punishment they deserved. There, the acquiring company often has a retention payment for key players to keep them around through the integration. You post as if free market and equitable rule of law are opposites. Customers, employees, et al can go screw themselves, as theyre completely expendable. Case in point, the described photo shoot where non-owners of the items had access and moved them around to where other non-owners had access without the knowledge of the supposed owner. . You gotta say no up front. This demographic was key to Cerberuss success. For now, that waste is buried in Steve Feinbergs yard. I hope Remington and Marlin excuse themselves from the toxic environment of FGI, and Im glad that Kevin is free. Thats TEN MILLION DOLLARS. In the comments, shed posed the question: Who is my dad.???????. 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. People really need to understand that if you dont get paid up front, free and clear, without strings attached, then you are getting ripped off. Having once sought a billion dollars for its investment, Freedom was, according to insiders, now internally valued at just $400 million. Period. Brittingham, the founder of Advanced Armament Corporation, currently holds more than 40 patents in the firearms industry. Each month, he paid an equal share of Bushmasters gross profits to every employee, from the CEO to the guy who cleaned the toilets. [1/20/2014 10:38 AM: This post was updated thanks to an interview with Kevin Brittingham. The deal was structured as a $10 mil+ lump sum up front, and $8 mil in contingent comp, based on whether Kevin was still with AAC in 2015 and met certain goals.. We were a good 5k into an area, when my aspiring student lollygagged right into the path of one of the largest cottonmouth snakes I have seen, Reichert wrote in an account of the trip. The guys buying in insist on a controlling interest, board seats, the charimanship and injecting a new CEO because theyre the boss. Sure there are downsides to unions (some more than others); but my vacation, pension, retirement, health, etc accounts are all in my name and cannot be touched or withheld by anyone, and are not dependent on the further health and good management of any employer or even the union (with the exception of my pension account, which is only part of my retirement and one which I am not going to rely on having in 30 years). I never mentioned Remington, ING did. Actually, if everyone were equally well-armed and well-trained, even that wouldnt be necessary. MARLIN FIREARMS 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. For a time, it was the largest landlord in the city. What with the general availability of 20-30 cap mags for accurate semiautomatic weapons its debatable whether even the remaining pool is practically more useful than the much larger pool of ar15s, AKs, FALsetc. At Trumps fund-raising dinner at Le Cirque in June, he made the largest political contribution of his life: more than $678,800, split between him and his wife. That marketing was the focus of the lawsuit brought against Remington by the victims of Sandy Hook. Buyer beware may be the law of the capitalism jungle, but society also understands the need for social contracts that allow individuals and businesses to function with a reasonable expectation that what they pay for is what they get without expending all of their energy on investigation and asset protection. Having returned to Camp LeJeune in North Carolina to recuperate, Reichert started moonlighting at the Blackwater range as a shooting instructor. None of them wavered in the slightest, not even when I brought up the Newtown massacre, or the Pulse-nightclub shooting, or the San Bernardino attacks, or the shooting of the Dallas police officers, or the certainty of other massacres to come. What the ATF requires can be handled in a separate file. At that distance, he couldnt just aim his weapon at the target; he had to lob the bullet like an artillery shell. Wow, AACs operations sound like a Cluster. It was also the first time since 2010 that the average net worth of a billionaire dropped - it is now $3.6. The first was the absolute wreckage they made of Marlin and the damage done to Marlins employees and above all quality control. By March 2012, Nardelli was gone. If it hadnt been for the unconstitutional gun control insanity, none of this would ever have come up. 17.5k Followers, 1,349 Following, 3,347 Posts - See Instagram photos and videos from Kevin Brittingham (@kevinbrittingham) He then discarded this gun and prepared for a tactical assault, arming himself with two pistols, a shotgun, and her Bushmaster assault rifle, along with ten 30-round magazines. Silencerco I hope you guys are listening.. I still cannot decide if I should buy a 300 Blackout Handi-Rifle or not. It was a sweet deal on its face, but it never had a chance. In reality the $200 stamp was a near defacto ban on new ownership. However, Kevin was a gun guy. The companys corporate culture is Darwinian. Pending. This kind of organizational nonsense will come out in the products eventually. Jason wanted AAC to be treated like another plant, like Remington or Marlin or Bushmaster, with Remington HQ as the head of operations. Using a technique employed by Special Forces operators, he then taped these magazines together into bundles of three, allowing for immediate reload. were clearly treating this as an owned property, another plant in their portfolio, with Brittingham another employee. 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. Tier 1 Group was profitable, but its sales maxed out at around $15 million annually a fraction of a percent of Cerberuss total business. At some point, he is no longer considered to be in control of/owning that silencer. And in return, Remington would provide support with ATF compliance, record keeping, and give them access to Remingtons extensive distribution network. That same year, Remingtons annual sales fell almost 35 percent from its post-Newtown peak, even as Remingtons public competitors outperformed. The Biden administrations policy of blocking unvaccinated people from the country continues to make little sense. That is, if it hasnt already. I grabbed him by his collar and let the snake continue on his way.. Regardless, short of repealing the NFA, Ownership, manufacture, maintenance, and transfer of such items is a legal nightmare, especially if you want to do it on a corporate level. Those who advocate for markets generally want fewer, but strongly enforced laws. Since then it has become accepted by MSM and government that the purpose is to keep dangerous weapons out of the hands of citizens who supposedly have no justifiable reason to own said items. I apologize, but Im going off on a tangent here. They feel free to deride various systems in favor of the ideological flavor of the day, even as they enjoy the benefits of a society that works within a set of rules for the mutual good. And he did get $10 million up front, so its not like hes having to collect aluminum cans in parking lots to feed his kids.. Good to see Kevin get what he deserves. . LeeAnne Locken - $2.5 Million I observed them screw up a lot of companies and put a lot of people out of work, he told me. Guess Ill have to look to other manufacturers now. However, even if they came out with a longer barreled version to make it Canada compliant I would not buy it now knowing what FGI has done. Like concealed carry laws that followed, they were supposedly never intended to be applied to John q publicjust the bad element. It makes no sense. Brilliant portrayal of the real world. It runs through Iowa following the course set by Huckabee, Santorum, and Cruz. Read Full Summary Public Private Court, Arrest or Criminal Records Check Full Reputation Profile to see if Kevin has court, arrest, criminal or conviction records. Feinberg wanted over a billion dollars, but he couldnt find a taker at that price. Now Im looking at other options. Seems like keeping track of your personal and business property would be a no-brainer.. The full test is available for download here, but for those who dont want to wade through all 117 pages of brilliantly written legal analysis Ill try to summarize . Reichert obliged, dragging his pupil into the swamps near the Camp LeJeune base. Kevin and others repeatedly asked when someone would be assigned to help, but years after the sale there was no permanent employee detailed to handle AACs books. But this R&D is related to our RKBA, so why is it ok to do this? The company was forced to settle. Hope he will go on to do great things in the silencer arena. Gun manufacturing had historically been an artisanal business, and gun buyers liked it that way. Or, perhaps more subtly, for anything that pays out later, you either have enforcement costs, or you better design things so everybody benefits together. Throw into that confusion the fact that the R&D department was using some of Kevins personal firearms as design aides and you can see where there was a lot of potential for disaster.. COPYRIGHT 2021, THETRUTHABOUTGUNS.COM. 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. I work with a lady who just left a firm that used to be owned by a sole proprietor. Well what experience do you have building and running a tech company? 1. I would have looked at how to replace my personal weapons with new weapons for prototyping. Its the investing equivalent of toxic waste. About six things lined up to allow the mortgage-based financial crisis. It also probably means a paradoxical slackening of demand in the gun market, further devaluing Feinbergs investment. [4], AAC's suppressor lineup includes models suitable for virtually every firearm caliber between .22 Long Rifle and .50 BMG. 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. Simple answer: its not his company anymore, and it wasnt the day he sold ownership and went from employer to employee. Precisely this. The next year was even worse. I guess we ll have to agree to disagree LOL. Youre betting that you are at least as good at working the ref as the other guy, and willing to do so. [20], The .300 AAC Blackout cartridge was developed by Advanced Armament Corporation in cooperation with Remington Defense, under the direction of Kevin Brittingham. Youre really comparing ATF compliance (which has been a boon to many FFLs) to selling computers? But Scott Blackwell at Freedom Group told him in no uncertain terms that AAC would remain a separate entity.. And a chatbot is not a human. Under Review. So now youve got tens possibly hundreds of NFA items being transferred between, moved around, and otherwise commingled by the original owner and a company with two different FFLs any one of which may or may not technically be in constructive possession of those item(s) at any given time. Its also interesting how so much common sense gun (health care, education, environmental, media & communications, food, drug & finance) legislation creates arcane processes that play out later, and are subject to working the ref. So, lobbyist and activists advocate to throw gun (& etc.) 1. His net worth is a matter of debate. Culture follows process, and vice-versa. 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. The terms of his contract were that he would be an employee of the new AAC and retain control of that autonomous entity, and if he hit his performance metrics and was still employed come January of 2015 hed be given an extra $4 million over the $10 million purchase price. PARA USA This is what happens when people think they can get away with whatever they want. Silencers turn shooting more into golf.. Kevin Brittingham founded Advanced Armament Corporation in 1994 to manufacture sound suppressors, having previously been a distributor for GEMTECH, another suppressor manufacturer. Early Life And Career Of Eric Brittingham Eric was born on 8th May 1960 in Maryland. Freedom Group marketed its firearms not just as guns but as shooting platforms: modular, lethal Lego sets whose component parts could be updated for years after the initial purchase. Interesting to me, its good strategy to work the system (vs. do the work) if you arent particularly good at doing the work. 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. 21. One example is the migration of the Activision guys through Microsoft, then into Smith and Tinker (which eventually didnt work, exactly.). Comments from Kevin are marked as such.]. It is only as good or benevolent as the people in it. I was going to name Barrack Obama, then I noticed the bullshit free marketer clause and realized he was not appropriate. Its part of campaign to smoke out and then attack unpopular Republican cuts. Remington and Freedom Group manage products for the masses.completely out of line fundamentally with AACs products. Lots of reasonsand someone can probably say this better and with more authority than I can but. Kevin Brittingham founded Advanced Armament Corporation in 1994 to manufacture sound suppressors, having previously been a distributor for GEMTECH, another suppressor manufacturer. Mr. Bittingham is not blameless in this episode. HOW MANY multi year rolloutS of 10k desktops? 3. 2023 Vox Media, LLC. Kevin never signed the new agreement, and Freedom Group should have known better than to consider the word flounder as Kevins official signature on an important document. Kevin immediately tried to contact Freedom Group about the reason for his suspension, and he wasnt given any information. People really need to understand that if you dont get paid up front, free and clear, without strings attached, then you are getting ripped off. I expect many of you to do the same. A year later, Cerberus bought Bushmaster for $76 million from Richard Dyke, the companys founder. Tracking the name, title, department, location(s) etc of some 5000+ people is certainly larger in scope than a collection of even several hundred firearms and accessories. Like a lot. If a Remington was a gun buyers first gun, a Bushmaster was the last, the ultimate fetish object for a generation acclimated to imagery from Call of Duty: Modern Warfare. The audio could use some work, but it's pretty good. Ill spare you the details (it gets pretty dry), but here are the judges own words on the compliance officer: [The compliance officer] was never intended to be a compliance person at best, he was unqualified to ensure appropriate compliance; at worst, he was sent to AAC to find a basis to terminate Brittingham. She explains the press to the president, preaches Twitter-is-not-real-life, and keeps the West Wing from leaking. REMINGTON 1816, Theres a hard product version of Conways law: Any software system reflects the organization that created it. (There are variations on the exact quote. Now Feinberg, 45, wanted to get into the field. Within weeks, Reichert had a business plan and had assembled a team of military trainers, including a number of special-forces veterans. Donald Trump Jr. Its impolite to call your customers wannabes, said the former Cerberus insider. Manufacturing was moved to Ilion, and Bushmaster customers soon noticed a drop in product quality. Our rifles were neither fit nor finished, nor in any condition to be offered for sale. Gun magazines and internet forums were filled with complaints, and after Cerberus bought it, Remington was forced to issue multiple recalls, for both guns and ammunition. Or carry a 50 million dollar quota? All I was saying is, with just them doing it, its understandable their compliance was a mess. 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. Join Facebook to connect with Kevin Brittingham and others you may know. Oh, and one more thingy. In late 2013, Freedom Group rebranded, changing its name to Remington Outdoor Company. Mr. Brittinghams mistake was doing business with jerks. They were right. At Remington, some of the machinery dated back to World War II. You have to file paperwork when they change hands, get moved, or change owners. Hundreds of people violently detained during a protest in the Bronx could receive $21,500 each. Others, some on TTAG, have written more comprehensive and eloquent summaries than this. It is important to note that neither the compliance officer nor any of the AAC staff assisting with the segregation process knew about the terms of the sale, specifically which guns of Kevins became the property of the new AAC. He seems to be sloppy, lazy, and foolish. You either have two or you have 20. My takeaway from this is theres a market for an independent consulting/auditing group that specializes in NFA compliance for small firearms businesses. The tax stamp was equivalent to about $2,000 in todays money, easily pricing the average citizen out of such purchases. I know all the guys involved, he said. Great googly moogly I dont think even the most gossip-skilled teenager girl could follow that mess! In 2015, Walmart announced it would no longer carry assault rifles. And, like fashion, the real money was in the accessories. DeSantis Promises Florida Will Control Disney Content. His interests include aquatic ecology, biodiversity, wetland ecology, wetland restoration, and entomology. The big companies who are buying you have scads of lawyers on their staff. A trope of the left is that low taxes and government regulation = failed states. It was easy to imagine these well-armed individuals as doomsday preppers or anti-government fanatics, but the reality, one former Cerberus insider suggested, was mundane. King Charles Evicts Harry and Meghan From House They Dont Live In. Advanced Armaments was small but did a lot of business with the military. Pink bolt action .22LR rifle with optics and no shoulder thingy that goes up. Good luck getting one. It currently owns the Albertsons supermarket empire and previously owned the Alamo and National car-rental chains. Depending on how his FFLs were structured, the company might have been considered two different entities from the ATFs perspective. As in, why should there be any problem whatsoever with a company using a personal possession to facilitate R&D? He still is a gun guy.

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