[BobNPrc]

Just came across this:

http://www.bloomberg.com/news/artic...se-179-year-old-gunmaker-files-for-bankruptcy

 

[Lucky#13]

I've been having a (sometimes nasty) e-mail debate with a friend of mine since word leaked, some weeks back, about Colt's latest financial woes. My perspective has been that they will survive in some form, may get an ownership change if that is how it shakes out, but that there will continue to be a Colt's no matter what. My buddy is all about ragging on their abandonment of the commercial market for their military contracts and the comeuppance he feels they have been asking for. He may not be wrong, but that's unimportant to me. I expect that things will go on as usual while the process plays out, and all that remains is whether the resulting company decides to change directions or rely on the same old model. They won't be the first 100+ year old American gun maker to go through trials, change ownership, etc only to come out with a new lease on life.

I think it is interesting to note that Smith and Wesson, which is flying high these days, was sold for 1/10th of its previous purchase price just a bit over a decade ago. If that doesn't give hope to Colt's, I don't know what will.

 

[Kirby]

Might not be a bad time to consider buying some of their stock. I bought a large quantity of American Airline stock when it dropped to .22 per share just prior to their bankruptcy, after coming out of Chapter 11 and their merger with USAir I did well with that one.

 

[MSG]

AMR merged with USAir, after it had merged with America West. Delta merged with Northwest.

 

[Kirby]

AMR merged with USAir.

Yep, you are correct. I got the names confused - February 2013 - AMR merges with USAir. Trading under AAL.

 

[1926]

GM came out fine, the new GM that is. I feel sorry for the stock holders of the old GM

 

[rugman59]

GM came out fine, the new GM that is. I feel sorry for the stock holders of the old GM

Do holders of old Chrysler stock have to claim Italian citizenship to keep it?

 

[frazer42]

Even if "Colt" never makes another firearm, there are plenty to go around. As long as you don't mind paying a bit of a premium, Colt rifles and pistols are plentiful at every show. Maybe they will triple in value! BTW, 6920LE F/S.......5K.

 

[BobNPrc]

I think they brought a lot of their misfortune themselves. Colt hasn't really come with any new, innovative firearm (that lasted for any length of time) in decades. It's bread and butter pistols - the 1911 and the SAA - are, IMO, overpriced compared to the market which makes weapons as good or better for a lot less money. When that happened, their market share eroded and income falls. I'm old enough to remember the days when if you wanted a .45, the only "quality" choice was a Colt. Now there are at least 20 place making 1911 clones and at least 5-6 make them as good or better than Colt. A Python can only be ordered through the custom shop and is well over a grand. For a revolver (emphasis on "revolver") that has not basically changed in over 40 years. Really? They can't figure out a way to make them for under $750 in this day and age? If they can't make them for less, you would at least think they could hold the price on them. Company leadership made a decision to largely abandoned the consumer market and to stagnate and not innovate, and now they pay the price. Smith & Wesson got bought up by a flashlight company and Colt is probably next. Corporate stupidity? Corporate arrogance? Both?

 

[heckinohio]

Colt "bankruptcy"???

Local scuttle is that they want to go off shore.....is this their way of doing it in an "under-the-table" fashion.........???

PJH

 

[Kirby]

Local scuttle is that they want to go off shore.....is this their way of doing it in an "under-the-table" fashion.........???

PJH

A number of their firearms have been made off shore for some time. The Colt black powder series was manufactured by Uberti in Italy with the finishing taking place in the US.