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Reload this Page Bankrupt gun maker Colt ....

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Old 06-15-2015, 08:46 PM
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Default Bankrupt gun maker Colt ....
.... up for auction. Opening bid: $0

http://www.cnbc.com/id/102760842?__source=xfinity|mod&par=xfinity
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COTEP #762

A gun is a tool, no better or no worse than any other tool: an axe, a shovel or anything. A gun is as good or as bad as the man using it. Remember that.

And shepherds we shall be, for Thee, my Lord, for Thee.
Power hath descended forth from Thy hand, that our feet may swiftly carry out Thy command.
So we shall flow a river forth to Thee, and teeming with souls shall it ever be.
In nomine Patris, et Filii, et Spiritus Sancti.
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Old 06-15-2015, 10:35 PM
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I would be in for a $20 bid but then I would assume $125M in outstanding loans. I guess $0 may be the best play.
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Old 06-15-2015, 11:09 PM
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Blah, I like S&W better.
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Old 06-16-2015, 07:34 AM
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The way I read it, the current owners are poised to get away with financial murder and continue to run this iconic company into the ground.
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Old 06-16-2015, 07:58 AM
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^^^^ Yep, and have been doing so for quite some time.
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COTEP #762

A gun is a tool, no better or no worse than any other tool: an axe, a shovel or anything. A gun is as good or as bad as the man using it. Remember that.

And shepherds we shall be, for Thee, my Lord, for Thee.
Power hath descended forth from Thy hand, that our feet may swiftly carry out Thy command.
So we shall flow a river forth to Thee, and teeming with souls shall it ever be.
In nomine Patris, et Filii, et Spiritus Sancti.
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Old 06-16-2015, 12:17 PM
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Quote:
Originally Posted by GD2A View Post
The way I read it, the current owners are poised to get away with financial murder and continue to run this iconic company into the ground.
Bond holders would get nothing. If I read it right the owners restructured their bonds to stock and then filed bankruptcy in a way that would shed the bond debt and allow the company to be bought. Thus only the owners would recoup any money and the bond holders would be dust in the wind.
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