In this particular case the UAW colluded with management first. They introduced the "inept" management as we see it today. And over the years and bankruptcy's have continued to deny Colt's owners the ability to renegotiate its biggest financial liabilities, UAW contracts and pensions.
At this point Colt will never get better. Colt is a corpse being sucked dry by financial vampires. Scien's clearly showed this in the latest bankruptcy case, where it basically managed to screw creditors out of ~50 million or so in monies owed to them AND convince secured credit holders to give them an additional 150 million in capital. And Scien's laughed all the way to the bank, when their executives got some 15-million in quarterly bonuses. They will continue to do the bare minimum to prop up the legacy brand. It will flounder and they will convince another set of chumps to buy in to save it...until eventually it can't be saved at all. Then it will be sold off to the highest bidder.
And that bidder will do one of two things 1) Start the Scien's blood draining process over. or 2) Invest millions getting Colt up to date in the industry. Only to start to lose their ass at a later date and require investors they can't find, because Colt has failed too many times. And they end up selling Colt to recover pennies on the dollar back to people like Scien's.
It's all a scam at this point.
Like a friend who needs to hit rock bottom. This is precisely what we need to all do. Only when Colt finally falls is there any chance it can be redeemed...but I won't hold my breath.I've been thinking about buying a 9mm Rail Gun -- the one I examined recently seemed really well made, but now I don't know if I want to. Maybe I'll start looking elsewhere.
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My final thoughts on this:
If your dealer has a Colt right now you want? Buy it. The dealer has already spent the money for it, line his pocket. This isn't the complete and utter end for Colt, but its products aren't going to get any better than right now, in terms of quality, availability, or variety. They aren't likely to make very many more of whatever XYZ model you want.
The Cobra will never make it to market.
Hopefully, this is a culling of UAW contracts and a freeing up of capital to turn the corner. But my gut instinct is that Scien's has not real interest in turning the company around. I only hope the bond-holders can convince them to or force them to actually sell. I wouldn't bet the farm on it.