Surprised me
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Cargo Master
Joined: Apr 2003
Posts: 3,476
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From: Frequently frozen MN
Surprised me
Colt has filed for bankruptcy. It does sound like they have a plan to get through it.
They lost a big military contract (M4), but the article also said that gun ownership is at the lowest level in 40 years.
That was a surprise, the way the media talks, you'd think it had never been higher.
(Please don't add any gun control or political comments, I'm just ranting about the media).
hj
They lost a big military contract (M4), but the article also said that gun ownership is at the lowest level in 40 years.
That was a surprise, the way the media talks, you'd think it had never been higher.
(Please don't add any gun control or political comments, I'm just ranting about the media).
hj
Post Fiend
Joined: Oct 2003
Posts: 9,176
Likes: 4
From: Western Central NV
Isn't Colt owned in part by a much bigger company? I keep thinking they were owned by Allied Signal. Holley carbs are owed or were owned by the same company. Maybe I'm out of date.
I thought it said gun prices were at a low. Not gun sales. Basically a buyers market maybe costing them the military contract.
I thought it said gun prices were at a low. Not gun sales. Basically a buyers market maybe costing them the military contract.
Post Fiend
Joined: Apr 2004
Posts: 19,098
Likes: 8
From: Great State of Texas
Colt has filed for bankruptcy. It does sound like they have a plan to get through it.
They lost a big military contract (M4), but the article also said that gun ownership is at the lowest level in 40 years.
That was a surprise, the way the media talks, you'd think it had never been higher.
(Please don't add any gun control or political comments, I'm just ranting about the media).
hj
They lost a big military contract (M4), but the article also said that gun ownership is at the lowest level in 40 years.
That was a surprise, the way the media talks, you'd think it had never been higher.
(Please don't add any gun control or political comments, I'm just ranting about the media).
hj
I don't think gun ownership is at its lowest level in 40 years. Gun "purchasing" could very well be since there have been 2 or 3 gun / ammo rushes over the past 5 years. In fact, I wouldn't be a bit surprised if more weapons were purchased in the past 5 years than the previous 40 yeas combined. May be an overstatement but, you get the gist.
Here's my take. Colt's HQ is in Connecticut who has turned out to be very anti-gun / 2nd Amendment. Colt wants out of the state but, may be anchored by previous tax incentives with long term conditions, various union attachments, etc. And yes, probably even some debt issues. Though, the debt issues could be manipulated to create the conditions, er, um,... forcing... the bankruptcy.
It is a Chapter 11 as I understand it. Not a close the doors Chapter 7.
In the short term, do not be surprised to see the announcement championing the "...move (to any Southern Right- To-Work state ) in order to stay financially buoyant"
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