Table Of Content
The entities were related but — and this was crucial — each could borrow money independently. In 2010, Cerberus had the holding company borrow $225 million from an undisclosed group of lenders, most likely hedge funds. Because this loan was risky — the lenders would be paid only if Remington made a lot of money or was sold — the holding company offered a generous interest rate of around 11 percent, much higher than a typical corporate loan. When the interest payments were due, the holding company paid them not in cash but with paid-in-kind notes, that is, with more debt. At our Best Western San Diego Zoo/SeaWorld Inn & Suites, you will enjoy spacious accommodations in a fantastic location.
Senna House Hotel Scottsdale, Curio Collection by Hilton
The 2-story rectangular brick building, constructed to expand Eastwick, reflected the growing importance of Remington to automobile sales and service in the 1920s. Directories referred to the building as the "Dodge Maintenance Building" in the late 1920s, but the design makes clear that it was always intended to work as a showroom as well. As well as their own collection of Remington sketches, prints, paintings, and sculptures they also curated the traveling exhibit ‘Go West!
Doppio Pasticceria
House’s chefs draw culinary inspiration from locales such as Mexico, Seoul, Caracas, and, of course, Baltimore. House offers plenty of seating, highchairs, play areas, and a full cocktail bar. Remington is Baltimore’s destination for artists, entrepreneurs, nonprofits, makers, and innovators.
Assisted Living in San Diego, CA
In Ilion, where Remington has operated for 191 years on the same site — unfinished weapons had to travel from one brick building to the next — 231 people lost their jobs. There were 160 layoffs at Montana Rifleman in Kalispell, Mont. Because private-equity firms appear frequently as villains in the press, many people assume that they cater mostly to the superrich, earning high returns on investments for billionaire clients.
r. bar
On the third Thursday of every month, from 9 a.m.–12 a.m., grab the karaoke microphone and sing to the tunes of DJ Goody of Repeatable DJ Services. Find your courage with special Jagermeister cocktail specials. Plus, select food stalls stay open till 10 p.m. Karaoke is free, just register via Eventbrite for priority placement in the karaoke queue. House is a 6,500-square-foot warm industrial space perfect for private events of up to 350 people.
Open & Shut: Limoncello Pizzeria; Mova Nature; EAT - Baltimore Magazine
Open & Shut: Limoncello Pizzeria; Mova Nature; EAT.
Posted: Thu, 02 Feb 2023 08:00:00 GMT [source]
The development team met with more than 80 chefs and restaurateurs as they considered concepts for the 12 stalls within R. House, curating a mix that would appeal to a range of palates. Seawall took input from neighbors and from Baltimore chefs, some of whom served in a focus group that predated R. House’s construction and who later came on board as vendors. The 50,0000-square-foot warehouse features roll-up garage doors and colorful sofas for a creative, industrial-chic vibe.
Hackerman-Patz House at University of Maryland St. Joseph Medical Center
Because the operating company borrowed the money with a normal loan — and not with PIK notes — interest payments were required in cash. Suddenly Remington was carrying hundreds of millions of dollars in debt that, if it could not be paid, would cause the business to go bankrupt. I asked Gustavo Schwed, a professor of private equity at New York University who spent 24 years in the industry, to help me review the documents.
After missing several days for a second surgery, she says she was called into the office of her supervisor, told that she had missed too much work and fired, three years to the day after she started. As the union effort had fizzled, there was no one she could appeal to for help. At R. House, where they opened this week, Doppio has launched a coffee program and is serving pastries in the former Ground & Griddled space.
Open & Shut: Tire Shop Pop-Ups at Parts & Labor; Koba BBQ; TigerStyle - Baltimore Magazine
Open & Shut: Tire Shop Pop-Ups at Parts & Labor; Koba BBQ; TigerStyle.
Posted: Thu, 01 Aug 2019 07:00:00 GMT [source]
Wherever you decide to dine, be sure to talk to the chefs, each of whom is proud to share their story. It all started with ten chefs who believed that uniting to launch their restaurants was better than going it alone. It’s a food hall, but more than that, it’s a community. We believe in being neighbors, not guests; we see possibilities, not limitations. This is your gathering place, your kitchen table, your office, and your front stoop.
A later casting of Remington’s first sculpture, the iconic ‘Bronco Buster,’ is also on display. Another work is a large oil-on-canvas titled ‘On the Southern Plains.’ Created in 1907, it shows a cavalry in motion. In the foreground, a bison skull, a frequent icon used in his work, points to the loss of a way of life in the old west. Pastor T.C. Johnson, of St. Luke Missionary Baptist Church, recounted to me how while he was in the Army in the early 1990s, real estate agents didn’t show him houses in South Huntsville, the white side of town. He was unaware South Huntsville existed until some of his Army subordinates, who were white, bought homes there. Since 1965 Huntsville’s schools have been under a federal desegregation order, which compels school districts to remedy race-based inequality.
Schwed pored over the many years of financial data and located two separate debt transactions, one of which was so esoteric I would never even have known to look for it. Together, these transactions explained not just the mysterious 2012 loan but, indirectly, the way the deal finally unraveled. There was, however, a hidden, vaguely mysterious quirk of the company’s finances. In 2012, more or less in the middle of the best climate for gun makers in a generation, America’s oldest continually operating manufacturer abruptly, and for no easily discernible reason, borrowed hundreds of millions of dollars.
Press fine-tuned his list, disclosed the name of his client, and flew to Huntsville for a series of meetings, still skeptical. Across the table sat Battle, the head of the Chamber of Commerce and the state’s economic-development director. The governor’s office would give Remington a significant abatement of their income tax for 10 years. The Tennessee Valley Authority would provide discounted electricity.
Alabama Industrial Development Training, a state agency, would train Remington’s workers free, as it had done for 800,000 others at big-name companies in Alabama, like Boeing, Raytheon and Mercedes. News from the inside was scarce, but this was more or less to be expected. Workers in the gun industry endure a special kind of scrutiny, like metal detectors at the exits and visits to their homes from A.T.F. agents looking for weapons that have gone missing.
No comments:
Post a Comment