Unlikely Angel that saves Colt Firearms...

[bttbbob]

And they have the cash to do it.....

http://blogs.wsj.com/bankruptcy/2015...-colts-rescue/

[RKP]

Hmmm - VERY interesting .... thanks for posting this !!

[TLE2]

Does the word "ironic" apply here?

[milkmanjoe]

They'll get tons of government contracts due to who they are. Ya see, Colt as it was couldn't compete...but Native Americans will be guaranteed contracts. Even if the product is no better than the next product. I cry for the fighting soldier.

[pitor]

Originally Posted by milkmanjoe

They'll get tons of government contracts due to who they are. Ya see, Colt as it was couldn't compete...but Native Americans will be guaranteed contracts. Even if the product is no better than the next product. I cry for the fighting soldier.

Don't cry yet. They may very well put out a superior quality product. They'll bid and win government contracts at a low premium due to who they are. Hopefully they'll be as savvy in producing quality firearms as they are business men.

[milkmanjoe]

Originally Posted by pitor

Don't cry yet. They may very well put out a superior quality product. They'll bid and win government contracts at a low premium due to who they are. Hopefully they'll be as savvy in producing quality firearms as they are business men.

There is NO WAY they can put out a higher quality firearm at a competitive price. Colt is bogged down in union wages and oncoming union scale pensions. Their overhead is too high a percentage of their earning potential. They pissed on the American consumer for years, relying on government contracts. When they lost the last contract their finances crumbled and American consumers turned to other firearms. Without government contracts Colt is a dead company. Read the forums, the basic take is F*ck Colt. The Native Americans will get contracts by who they are, not by a better product. Hell, it might pay to dump money on their stock until a week after they sign the first contract. Then sell the stock and buy some Springfield guns.

[pitor]

Originally Posted by milkmanjoe

There is NO WAY they can put out a higher quality firearm at a competitive price. Colt is bogged down in union wages and oncoming union scale pensions. Their overhead is too high a percentage of their earning potential. They pissed on the American consumer for years, relying on government contracts. When they lost the last contract their finances crumbled and American consumers turned to other firearms. Without government contracts Colt is a dead company. Read the forums, the basic take is F*ck Colt. The Native Americans will get contracts by who they are, not by a better product. Hell, it might pay to dump money on their stock until a week after they sign the first contract. Then sell the stock and buy some Springfield guns.

But didn't they move to FL to get rid of the union? Maybe I'm confusing them with another venture. I obviously don't know much about their current situation except that they are in deep economical doodoo. I don't understand why they wouldn't be able to put out a quality product if the money is there to do so. Seems the idea is to save the company. I picture it would be hard to do so if they come out of this dark period with a shitty product? Maybe the tribe will prop the company up for stock, then quickly sell it...

[milkmanjoe]

Originally Posted by pitor

But didn't they move to FL to get rid of the union? Maybe I'm confusing them with another venture. I obviously don't know much about their current situation except that they are in deep economical doodoo. I don't understand why they wouldn't be able to put out a quality product if the money is there to do so. Seems the idea is to save the company. I picture it would be hard to do so if they come out of this dark period with a shitty product? Maybe the tribe will prop the company up for stock, then quickly sell it...

The parent company is in Hartford, Connecticut. Nope, they didn't move to Florida. They are stuck with high wages, high pensions, high taxes, high rent or land ownership......And their ar's and 1911's are no better than MUCH less expensive ones. Not to mention they stopped producing some great revolvers, like the Python. If they started the revolvers again I wouldn't bother, Dan Wesson has beautiful revolvers.......cheaper. Colt is like having a boat, a hole in the water where you throw money.

[Riverpigusmc]

Joe speaks the truth. Colt Defense moved to Florida, the parent company is still in Yankeeland. I HOPE they turn around...the previous owners borrowed against the companies name, cashed out, and gutted a once proud company

[RKP]

Originally Posted by Riverpigusmc

...the previous owners borrowed against the companies name, cashed out, and gutted a once proud company

Yep .... BIG time !!