Colt take over

L

loknload

New member
I understand as of today, that a holding company has taken over and closed down Colt. I heard everything was being cleaned out. Has anyone heard anything about this?

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Help Stamp Out Gun Ignorance.



[This message has been edited by loknload (edited December 15, 1999).]
 
Colt is on less than solid ice financialy but not that thin yet. Had a report from the Colt director of production today. They still do not have thier next years production plans worked out. They were expecting some additional operating cash last week that did not arrive. So a lot of Excutives were layed off. They are hamstrung by the State which ownes the rights to the name Colt in exchange for a $11 million bailout of the pension fund. The same state that wants to sue them out of business.

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It has been well documented on TFL that their majority owner and Chairman donates to Charles Schumer. Good riddance to these folks.
 
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