Author Topic: Colt Bankruptcy?  (Read 15796 times)

Offline Major 2

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Re: Colt Bankruptcy?
« Reply #20 on: June 15, 2015, 09:39:03 AM »
I echo my friend Coffenmaker's words to me

"Colt problem ........ Failed to get well into the CAS market when we were young.
                           Got into the CAS market with the POS  Colt Cowboy
                           Quit manufacturing/delivering the Colt 3rd Gen in any kind of reasonable quantity
                                at a marketable price.
                           Even at the price point, the guns needed work to make em user friendly.

                           Everybody on the freeking planet makes a version of the M4.
                           Everybody on the freeking planet makes a version of the 1911

So ........ what has taken them so long to go bust??



I'll repeat 
add in the un-gun friendly  Draconian Connecticut  laws , taxes  and it's closed shop legislation... a demanding labor union
of contemptuous liberals.
Lost Government contracts.....

I'm amazed , they stay out bankruptcy this long  ...this time around
when planets align...do the deal !

Offline Mean Bob Mean

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Re: Colt Bankruptcy?
« Reply #21 on: June 15, 2015, 11:04:58 AM »
I know, maybe they can pick up the Merwin Hulbert project!!!!!

(ducks and runs for door)
"We tried a desperate game and lost. But we are rough men used to rough ways, and we will abide by the consequences."
- Cole Younger

Offline Fox Creek Kid

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Re: Colt Bankruptcy?
« Reply #22 on: June 15, 2015, 02:48:25 PM »
I echo my friend Coffenmaker's words to me

"Colt problem ........ Failed to get well into the CAS market when we were young...

They did initially with the SASS Colt SAA. However, General Grant, owner of EMF, decided to offer a SASS Italian model as well and Colt was "eight balled". Needless to say, Colt was PO'd and dropped from the scene pretty much.

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Re: Colt Bankruptcy?
« Reply #23 on: Today at 08:28:01 PM »

Offline Bruce W Sims

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Re: Colt Bankruptcy?
« Reply #23 on: June 15, 2015, 03:09:49 PM »
Sounds like unless they controlled everything....and dominated everything else they
just didn't want to play.  Kind of a piss-poor Business Model if you ask me.

Best Wishes,

Bruce
Best Wishes,

Bruce

Offline Major 2

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Re: Colt Bankruptcy?
« Reply #24 on: June 15, 2015, 04:11:00 PM »
They did initially with the SASS Colt SAA. However, General Grant, owner of EMF, decided to offer a SASS Italian model as well and Colt was "eight balled". Needless to say, Colt was PO'd and dropped from the scene pretty much.


as stated
Failed to get well into the CAS market when we were young.
when planets align...do the deal !

Offline Jayhawker

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Re: Colt Bankruptcy?
« Reply #25 on: June 15, 2015, 10:46:19 PM »
Colt is going under because they sold their customers down the river....Dropping MOST civilian production and their most desirable product line (The snake series of revolvers), then charging outrageous prices for what's left.....I can get better SAs from Ruger and Uberti for a fraction of the price...I can get as good or better 1911s from damn near everyone for a fraction of the price....that "Prancin Pony" just ain't worth what they are asking....
Life is NOT like a box of chocolates...it more like a jalapeno...what you do today might burn your butt tomorrow...

Offline Fox Creek Kid

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Re: Colt Bankruptcy?
« Reply #26 on: June 15, 2015, 11:14:06 PM »
Update with grim details:


http://weaponsman.com/?p=23371

Offline Bruce W Sims

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Re: Colt Bankruptcy?
« Reply #27 on: June 17, 2015, 09:19:35 AM »
".......

Colt’s most valuable properties, its intellectual property (designs, trademarks and patents) are essentially mortgaged, greatly reducing the cash value of the business, which the managers propose selling at auction.

After Colt defaulted on an interest payment last month, its managers, hedge fund Sciens Capital, initially tried to press bondholders into accepting a 95% haircut and a six-year stretch in bond terms. Only 5.1% of the bondholders were willing to take a chance at getting 5% six years later ($50 per $1000 of bonds’ face value), even with the firm threatening to go bankrupt and zero them out. Colt managed to negotiate some breathing space with the bondholders, and managed to raise the participation to a still-anemic 5.9%, even after offering them a less sour 45% of old bond face value in the new bonds.

The managers’ second choice, a prepackaged bankruptcy like the one used in the notorious Government Motors bankruptcies, also did not attract enough creditor support. ......"(Not a good sign)

Best Wishes,

Bruce
Best Wishes,

Bruce

Offline RRio

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Re: Colt Bankruptcy?
« Reply #28 on: June 20, 2015, 01:53:17 AM »
Not sure it would be worth saving after reading this:

http://www.rense.com/politics5/colt.htm

"I hate rude behavior in a man. I won't tolerate it"  - Capt. Woodrow Call

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Offline Bruce W Sims

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Re: Colt Bankruptcy?
« Reply #29 on: June 21, 2015, 10:33:11 AM »
Not sure it would be worth saving after reading this:

http://www.rense.com/politics5/colt.htm


Why am I not surprised that there is a swirl of politics and intrigue around this all......

Best Wishes,

Bruce
Best Wishes,

Bruce

Offline Sir Charles deMouton-Black

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Re: Colt Bankruptcy?
« Reply #30 on: July 03, 2015, 01:52:50 PM »
NCOWS #1154, SCORRS, STORM, BROW, 1860 Henry, Dirty Rat 502, CHINOOK COUNTRY
THE SUBLYME & HOLY ORDER OF THE SOOT (SHOTS)
Those who are no longer ignorant of History may relive it,
without the Blood, Sweat, and Tears.
With apologies to George Santayana & W. S. Churchill

"As Mark Twain once put it, “History doesn’t repeat itself, but it does rhyme.”

Offline Trailrider

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Re: Colt Bankruptcy?
« Reply #31 on: July 03, 2015, 03:34:14 PM »
"Cavalry" to the rescue. :D

http://blogs.wsj.com/bankruptcy/2015/07/01/morongo-tribe-rides-to-colts-rescue/

Looks like the wagon train (Colt's) has circled its wagons to protect it from hostile "settlers" (creditors/bond holders), and it is the Indians who are riding to the rescue!  :P ::) ;D Let's hope it works.  Couldn't you just see John Ford making a movie following this plot, especially with John Wayne in trouble?  ;D
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Offline RRio

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Re: Colt Bankruptcy?
« Reply #32 on: July 14, 2015, 02:36:05 PM »
They did initially with the SASS Colt SAA. However, General Grant, owner of EMF, decided to offer a SASS Italian model as well and Colt was "eight balled". Needless to say, Colt was PO'd and dropped from the scene pretty much.

Mainly because the idea of a $1700 SASS Colt did not appeal to most working people, especially with all the work need on one.
"I hate rude behavior in a man. I won't tolerate it"  - Capt. Woodrow Call

"Proud citizen of CasCity since 2004." 
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