God damn it Colt

[RevolverRob]

Incredibly inept management over and over and over and over and over. Why are unions the first to be blamed?

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.

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.

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.

___

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.

[45dotACP]

Hmmm...Well I had been wanting a new Colt.

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[Stephanie B]

Well, shit. I wanted a Cobra.

[Tamara]

The only thing that keeps S&W from being the most relentlessly mismanaged firearms company in American history is the continued existence of Colt. They've been making idiotic decisions since Sam was still looking at the daisies from the right side.

[BehindBlueI's]

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.

I won't blame the union for that. If everyone is simply sucking the corpse dry, why let your money be taken to be sucked up by someone else? Even if their liabilities are wiped clean, until they get a revenue source figured out, that's just a time extension and not a solution.

[karmapolice]

If DD would make CHF socom weight 14.5" barrels I would be happy. I have 14.5" socom colt barrels maybe I can smuggle some Canadian colt barrels in with some maple syrup and misanthropist?

[45dotACP]

It seriously sucks that Colt is making the 1911 Kimber should have made, the AR that God knows which company should have made and was beginning to make inroads into making the revolver that SW should have made (eg: no lock) and is likely going to be absorbed by someone who will put the likes of Ron Cohen and all his innovation at the helm.

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[Tamara]

It seriously sucks that Colt is making the 1911 Kimber should have made, the AR that God knows which company should have made and was beginning to make inroads into making the revolver that SW should have made (eg: no lock) and is likely going to be absorbed by someone who will put the likes of Ron Cohen and all his innovation at the helm.

Looking back at my smartass comments of ~2004-'05 from the vantage point of 2017, I've had to eat some Ron Cohen crow. Say what I will about diamond-plate P238s, but the dude took a company that was circling the drain and has turned it into the frickin' Death Star of the domestic firearms industry.

[Jeff S.]

Sig is scrambling to hire qualified people... if I were a Colt employee who just received a pink slip, a move to New Hampshire wouldn't look so bad...

[45dotACP]

Looking back at my smartass comments of ~2004-'05 from the vantage point of 2017, I've had to eat some Ron Cohen crow. Say what I will about diamond-plate P238s, but the dude took a company that was circling the drain and has turned it into the frickin' Death Star of the domestic firearms industry.

1 for 2...Kimber became something of a joke. Sure, Sig is still considered acceptably serious, but if I were a betting man, I'd probably say screw those odds and just turn to Springfield or Caspian for my 1911 needs.