Here's what Colt's has to say about it at their website:
http://www.colt.com/colt/html/n_news_2.html
Colt's Refutes Newsweek Article (10/11/99)
Colt's Manufacturing Company, Inc., a premiere firearms manufacturer based in West Hartford, CT strongly refuted media reports that it is exiting the total handgun portion of its business.
Colt top management stated that a consolidation is underway involving the elimination of some of its unprofitable handgun product lines, which is part of the normal, ongoing management of the business. But they made it clear that they plan to continue to market their most important, classic handgun products.
"We intend to continue the growth of our Military and Law Enforcement market segment while focusing our commercial efforts on our most important and profitable product lines." Said Lt. General William Keys (USMC, ret.), CEO of New Colt Holding Corp. Colt has been in business for 165 years and manufactures handguns, rifles, and carbines for the consumer market, law enforcement, international, and the U.S. Military.
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Boy, that sure clears things up.
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