Author Topic: Colt going belly up?  (Read 1318 times)

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Offline Alte Schule

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Colt going belly up?
« on: March 05, 2017, 11:12:28 AM »
I've sat on this article for a couple of days as I wanted to take time and read all of the comments to see if they mirror my thoughts. Although the comment section branches off into quality and control of different manufacturers the on topic comments do mirror my own.

http://www.thefirearmblog.com/blog/2017/03/03/breaking-colt-lays-off-custom-shop-director-employees-company-rumored-gutted/

I was really looking forward to getting my hands on the new model Cobra but now I have reservations. Would love to see some Texas zillionair buy it out, move if to this firearm friendly state and bring the skilled workers with them. I know it would never happen but one can hope.
This gun is liberty; hold for certain that the day when you no more have it, you will be returned to slavery.
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Offline JohnnyDollar

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Re: Colt going belly up?
« Reply #1 on: March 05, 2017, 11:19:09 AM »
Maybe they can get a bailout like the auto industry
In Texas, "He needed killin' " is a defense to prosecution.

Offline TXAZ

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Re: Colt going belly up?
« Reply #2 on: March 05, 2017, 11:26:14 AM »
I'd be patient and look for financial analyst to weigh in.
The name and IP are worth enough to sell off and restart under several different scenarios. 

I wouldn't get too wrapped around the axle at this time though, everytime we've gone from an opressive government to a more relaxed gun policy we've seen firearms industry layoffs as the frantic buying that supported rediculous pricing calms.

Lunch says they don't go away, but restructure...again. 

Offline Alte Schule

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Re: Colt going belly up?
« Reply #3 on: March 05, 2017, 12:05:47 PM »
I'd be patient and look for financial analyst to weigh in.
The name and IP are worth enough to sell off and restart under several different scenarios. 

I wouldn't get too wrapped around the axle at this time though, everytime we've gone from an opressive government to a more relaxed gun policy we've seen firearms industry layoffs as the frantic buying that supported rediculous pricing calms.

Lunch says they don't go away, but restructure...again.
I'm with you and hoping for the best but have been following this downward spiral for years. Just my opinion, but why, after losing their govt. contracts, didn't they ramp up sales of their D/A revolvers instead of ceasing production? It was probably a financial issue, and I'm not a marketing major, but just stopping production of something that was their bread & butter for over 100 years was insane to me. Let me correct that the government contracts were probably their "bread & butter" but when I think of Colt I think of snake & trooper models.
This gun is liberty; hold for certain that the day when you no more have it, you will be returned to slavery.
Toussaint Louverture

Online satx78247

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Re: Colt going belly up?
« Reply #4 on: March 05, 2017, 12:58:43 PM »
Alte Schule,

I too want to see COLT's FIREARMS come to TEXAS to stay.
(After all the first Colt's production revolvers, the Colt's Pattersons, were sold here to our Rangers , who used them to excellent effect.)

yours, satx
"VICTORY OR DEATH"

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Fby 24, 1836

Offline Darkpriest667

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Re: Colt going belly up?
« Reply #5 on: March 05, 2017, 02:22:45 PM »
according to their annual report they've been losing money like crazy.

http://www.colt.net/investor-portal/annual-reports/


Fidelity offered to buy them out in october of 2015 but that offer was not accepted.   I actually hope they do go belly up because then a Texas company could buy them cheap. Those jobs would move here.
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Offline JohnnyDollar

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Re: Colt going belly up?
« Reply #6 on: March 05, 2017, 04:24:52 PM »
It's sad, but you know......

times change, they shoulda changed too.....


I have an almost MIB Colt All American 2000,
bought it right before the Klinton AWB purely on name recognition........

Last Colt I ever bought.
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Online Tango

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Re: Colt going belly up?
« Reply #7 on: March 05, 2017, 04:46:19 PM »

according to their annual report they've been losing money like crazy.

a company that produces and stands behind a good product that they've sold at a good price (and still make a profit) will survive - the others will become victims of the law of natural selection in the market place
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Online satx78247

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Re: Colt going belly up?
« Reply #8 on: March 05, 2017, 07:35:42 PM »
Tango,

SPOT ON.

yours, satx
"VICTORY OR DEATH"

William Barret Travis, Lt. Col, comdt.
Fortress of the Alamo, Bejar
Fby 24, 1836

Offline Ranger99

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Re: Colt going belly up?
« Reply #9 on: March 05, 2017, 08:21:00 PM »
jmho
they're probably like every other company these days.
they likely have offices full of executives that know nothing
about guns, but have that degree and know all about "trimming
the fat" and making a company "run lean and mean".
all that translates into sh*tcanning the most experienced best
trained highest paid help and thinking they can hire folks off the street
with no affinity for the job to step in and turn out quality functional firearms.
that, and trying to shortcut on quality materials and use engineering "shortcuts".
i've seen it a hundred + times in other types of businesses as well.
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Offline Ingramite

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Re: Colt going belly up?
« Reply #10 on: March 05, 2017, 08:30:33 PM »
When I was growing up bankruptcy was something to be ashamed of.
It meant you had failed.

Today bankruptcy is a business strategy that CEOs get a big bonus for pulling off.
It's business way of shedding debt by sticking vendors and franchises with millions of dollars worth of unpaid bills.
Companies also use it to shed themselves of obligations like collective bargaining agreements, franchise agreements, and even hard earned employee pensions.

It's a shame, I hate to see any American business close.
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Offline Darkpriest667

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Re: Colt going belly up?
« Reply #11 on: March 05, 2017, 10:20:12 PM »

according to their annual report they've been losing money like crazy.

a company that produces and stands behind a good product that they've sold at a good price (and still make a profit) will survive - the others will become victims of the law of natural selection in the market place


Oh I don't disagree at all. Colt for too long (like some others) sold (or tried to) their products at a premium based on the name alone. That just doesn't do it for me. In fact, I've never owned a colt and neither has anyone in my family. they are entirely too expensive.
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Offline TXAZ

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Re: Colt going belly up?
« Reply #12 on: March 06, 2017, 12:03:23 AM »
When I was growing up bankruptcy was something to be ashamed of.
It meant you had failed.
And took others with you. 

Offline Gilgondorin

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Re: Colt going belly up?
« Reply #13 on: March 06, 2017, 06:50:00 AM »
jmho
they're probably like every other company these days.
they likely have offices full of executives that know nothing
about guns, but have that degree and know all about "trimming
the fat" and making a company "run lean and mean".
all that translates into sh*tcanning the most experienced best
trained highest paid help and thinking they can hire folks off the street
with no affinity for the job to step in and turn out quality functional firearms.
that, and trying to shortcut on quality materials and use engineering "shortcuts".
i've seen it a hundred + times in other types of businesses as well.

I nearly facepalmed my brains out reading this earlier our company has nothing to do with guns, but this is the EXACT thing the upper management tards are in the process of doing. We've lost like 13 people in the last two months and now it's beginning to look like we might end up like Colt Custom Shop.

+153785437 to bringing them here; I'd totally bail on this dive to go learn how to hand-craft Colt Pythons.

Offline Army 1911

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Re: Colt going belly up?
« Reply #14 on: March 06, 2017, 07:51:49 AM »
Don't forget that Colt went bankrupt before they sold their first pistol.  Also they have gone bankrupt many times in the past.  That doesn't mean out of business though.
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