That's it! Let Colt's Remaining Inventory Rot!

R

Rich Lucibella

Staff
One of Colts major owners is "Zilkha, Donald"

Go to http://www.tray.com/fecinfo/_indiv.htm and enter his name for a list of his political contibutions, including Steve Forbes and *lots* of money to Schumer.

If that doesn't make your blood boil, try his wife, "Zilkha, Valerie". More of the same. How many key employees did he strongarm for similar support.

Please spread this news widely, especially to sympathetic LEO Agencies. May Colts remaining products rust on the dealers' shelves!
Rich
 
Morgan posted this earlier on the "Colt fax" thread, but I think it deserves reposting. This info doesn't seem so far fetched now, does it?

More info on Colt...

This was recently posted (without attribution) on the C+R
newsgroup, you might find it interesting if you haven't read
it already:


Colt Manufacturing, Inc., plagued by vendor-creditors and
double-digit lawsuits, including those from several major
US cities, is working busily behind the scenes to stiff vendors
and the cities, along with their own union employees. Colt
has long wanted to move out of their antiquated factory in
West Hartford, which has been plagued with union problems
since the early '90s. CMI (Colt Manufacturing, Inc.) is owned
by New York banker, Donald Zilkha, who still maintains his
Iraqi citizenship. Unfortunately, while Mr. Zilkha owns CMI,
he *does not* own the name "Colt". That belongs to the
State of Connecticut. The State gained ownership of
the name when the companies previous owners went
bankrupt in 1994 owing the State of Connecticut pension
fund $11,000,000.

Zilkha's arrangement with the State required him to keep
the ailing company in Connecticut for ten years, which
included the manufacturing of any gun that had ever been
produced in that factory....or pay the State $11,000,000
they lost in the previous bankruptcy. Apparently Zilkha
has come up with an exit strategy that will allow him to
both move the company's manufacturing to friendlier,
non-union, ground and leave the companies creditors
sucking wind. Zilkha is now negotiating with the State
to finally buy the name "Colt".

The plan calls for a breakup of the existing company into
four separate legal entities. The majority of the Colt pistol
line will be eliminated and the remaining models, including
their popular single action revolvers, Pocket 9, Pony,
Defender and the new Officer's carry will be moved to a
new company, "Colt Classics", in Springfield, Mass.
This will serve as their "custom shop", as well as handling
consumer gun sales. No need to run out panic buying a
Colt product one of these products listed above is what
you're interested in.

Colt's military weapons, the M4 carbine and the M16, will
be moved to another Colt Holdings owned company,
SACO Defense in Maine. They will undoubtedly continue
the production of the AR15 as well, but it will most likely
be sold through the "Custom Shop"...no doubt at a higher
price.

CMI, the current corporation, with all it's outstanding debts
to vendors, along with it's many lawsuits, and union contracts
will file for protection under Federal Bankruptcy statutes
and the factory in West Hartford will be closed, leaving the
many creditors and the 780 employees out in the cold.

Colt headquarters and it's executives, under yet another
corporate veil (iColt), will move to a location near Washington
D.C. to focus on their lobbying efforts which include more
sweetheart military contracts and government grants for
developing their much touted but non-existent "Smart Gun".
Zilkha has been lobbying Democratic lawmakers to *give*
the company $100,000,000 in development money for this
white elephant. Unfortunately for Mr. Zilkha, another company
has recently shown an NIJ panel, who previously gave
Colt $500,000 for Smart Gun development, that they are at
least two years ahead of Colt in the development of Smart
Gun technology. Colt is unlikely to land their government
windfall for Smart Gun development. Colt president, Steve
Sliwa, speaking about the Smart Gun, has publicly stated
that Colt has "bet the future of the company on it". Even Zilkha
political crony, Sen. Chuck Schumer, won't be able to get this
money out of Congress for Colt's non-existent pipe-dream.

Numerous firings over the last few months, which included
several long-time Colt executives and department heads,
indicate that this move is not far off. Colt will continue
negotiating with the cities regarding a settlement of the
numerous lawsuits, but once Zilkha has secured the rights to
"Colt" name from the State of Connecticut, and they complete
their plans to divide up the profitable areas of the company,
safe from creditors, the cities will find that Mr. Zilkha has left
them holding an empty bag. The other gun companies being
sued will surely be the loser in this battle. The ultimate loser
will be the American gun owner.

There is everything in this story for a good novel. A rich
Iraqi oilman/banker, from the richest Jewish family in America
(I only include this as a point of interest...I'm hardly an anti-
Semite as Aaron Zellman will attest to), attempting to control
85% of the world's arms market! Yup...one of those stories
that's just too wild to be believable, but that's what's happening.
Zilkha has already purchased SACO Defence. He tried,
unsuccessfully to buy Remington. He's tried twice, unsuccessfully,
to buy Fabrique National (which also owns Browning and
Winchester). He recently tried, unsuccessfully, to purchase
Vektor Arms, the largest military arms producer on the African
continent. He's still trying to purchase Heckler & Koch, but I
believe he'll fail in that attempt (and if you're interested let me
know and I'll tell you why). He's also trying to buy S&W, which
is also up for sale. He told me, personally, that he planned to
control 85% of the world's arms market (with the rest being
controlled by the Easter Bloc and China). Fortunately, I have
personal relationships with many of these companies and I
know that he won't be successful.

But let your mind run wild with the possibilities of one man
controlling all those assets. And remember that he's the
one negotiating with the cities and the FEDS right now.
He also depends on his military contracts with the Federal
government for 90% of Colt's income. Would he be in a position
to single-handedly negotiate away our rights in return for
exclusive rights to military contracts? You bet. He's proven
that he can do it with the M4 contract. Colt managed to get
around the law and got an exclusive contract for the M4...with
no competitive bidding! What's an M4?...an M16 with another
name, of course. Why? Because Fabrique National *won* the
M16 contract for the Army through the conventional competitive
bidding procedure. This left Colt out in the cold. Again, the
M16 has been 90% of Colt's business for years. So, almost
like magic, a plan is developed to get around FN's legitimate
contract. They simply call the gun by a different name, create
a new "requirement" for this gun, and give Colt an exclusive
no-bid contract for it...for more money than FN charges the Army
for the M16! Now imagine if Zilkha is already this powerful,
what would happen if he also owned FN? And H&K? And
Vektor? And S&W?

Did I mention that Zilkha's a financial supporter (and personal
friend) of both Chuckie Schumer and Frank Lautenberg?
Imagine which way Zilkha leans on civilian ownership of
firearms.

As for iColt and the "Smart Gun", it looks like Steve Sliwa
will ignore my advice, and my promise. Over a cold beer
I warned this "rocket scientist" that a gun that operated on
radio frequency was a bone-head idea. I asked him if he
ever had trouble with reception with his cell phone (DUH!).

I told him that this was such a stupid concept that if he
actually built an RF controlled handgun that I promised
him that I'd develop an RF jammer the size of the average
garage door opener that would be capable of jamming
Smart Guns for a six square block area. Imagine a bank
robbery going down, the cops show up, but none of their
Smart guns will fire :-) Well, it looks like Mr. Sliwa didn't
take me seriously. Guess he didn't get to know me well
enough. Very shortly I'll announce the formation of "noColt"
to produce our RF jammer. This product will be marketed
as a personal protection device. You never know when
you'll find a criminal with a Smart Gun and you may need
to disarm him, right?:-)

The announcement of "noColt" and the "SmartJammer"
should probably throw a stick in the spokes of Sliwa's
venture capital raising efforts on behalf of iColt. We can
only hope so. The Smart Gun is the silver bullet that the
anti-gun movement and the ATF is begging for. Just for
a moment imagine a radio controlled gun, or thousands
of them, that could be disabled by satellite generated
signal with the push of a button in Washington DC. They
won't have to come to your house to take you gun away...
you can keep it. It just won't work anymore. To wild to
happen? Just ask yourself...if they *could* do this, would
they? The technology is certainly there.

--------------------------------------------

From what I have been able to determine, this may have been originally written by an ex Colt employee named Steve Sarich.

Joe


Joe's Second Amendment Message Board
 
This is very disturbing. I waited for six weeks for a new Glock 30, and was never given a delivery date by Glock, wanted a Kimber compact, and got tired of waiting. Went into a local gun store and purchased a new Colt MKIV Combat Commander and then read this post. Your're right Rich, Zilkha looks "dirty" to me. [section deleted].
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It is far better to dare mighty things, though riddled with failure, than to live in the dull grey of mediocrity.

[This message has been edited by Mendocino (edited October 16, 1999).]
 
Rich, it should be OK to buy Colt, provided that it's used. Colt already made their profit from it and won't stand to gain a dime on the sale of a secondhand product.

Regarding new Colts, don't need anything or want anything for myself.

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Vigilantibus et non dormientibus jura subveniunt
 
It's a shame; there's a neat light rifle that Colt just came out with that's a real bargain, and I was looking at it pretty hard.

Good thing we've still got Remingtons, and Weatherbys and (sort of) Winchesters, and Steyers, and Sakos... .... ....

I'm never putting a dime in Colt's pocket. Yes, a purchasing a used Colt gives them no money, but if you're purchasing one of their used products that they still currently sell, you're helping to create the demand for that product. My old Colts will never leave my collection. I may later buy some more OLD Colts.

But they screwed us in the past on the way they gave in on the "Assault Rifle" scare in the late '80's and early '90's, and now these things. May they go bankrupt, and worse. They have no interest in the rights of those they gladfully take the money from.
 
Uh Rich, "Zilkha, Donald" must still have some pull because I could not find any info
on him at http://www.tray.com/fecinfo/_indiv.htm
I looked in each election cycle.
I will cherish the Colt's that I now own but will never purchase a new one.
Hank


[This message has been edited by HankL (edited October 17, 1999).]

[This message has been edited by HankL (edited October 17, 1999).]
 
I found a lot of names when I tried simply, "Zilkha".

Does this stinker have relatives?
Could THEY also be contributing?
 
The only Colt I own I inherited from my Dad, which is reason enough to hold onto it even if I despise their management.

Love the NoColt and Smart Jammer! That was my instant reaction, having gone to college as an electrical engineering major years ago; Any smart gun based on RF technology would be subject to jamming, ESPECIALLY as the transmitter has to be very short range in order to prevent a BG from wresting it from you and using it against you, the rationale for selling them to the police. Hey, you can do them one better; Bet I could build an EMP generator that would fit in a suitcase, and toast the reciever in the gun at significant range; FryColt!

------------------
Sic semper tyranus!
 
Dennis, I see the error of my ways. "Zilkah" yeilds nothing while Zilkah works! Very interesting web site! Col. Sam would be very POed!
Hank
 
Went to the gun show and saw one table with
all the Colts marked DISCONTINUED and guess
what the prices were raised!

I guess they assume some fool will think
a Pony will become a collectible.

Also, I heard another dealer explaining
why Colt had to do what they did and they
aren't antigun.

I certainly understand a business decision to
cut one's line.

However, Colt has three fatal flaws in this
decision:

1. They capitulated and gave credit to the
lawsuits thus empowering them as a tool
to eliminate all guns (the real plan)

2. They are the force behind the smart gun =
another plan to eliminate guns or make
them useless. NJ almost mandated them.

3. Their VP stated in the NY Times that
there remaining guns have no role in
self-defense and are only to dress
up like Annie Oakley and play cowboy.
This statement clearly indicates they
care not about the RKBA.

I feel sorry for dealers with already paid
for inventory. But if I was them, I would
have a sale just about cost and use the
money to restock. Those who try to make
instant collectibles are a tad suspect in
my mind.
 
Rich,

No doubt that Colt will use this opportunity to continue to screw Cowboy Action shooters. In June,I posted about this,including the Schumer donations,in http://www.thefiringline.com/NonCGI/Forum6/HTML/000050.html . Now Colt has declared that they will continue to make the SAA for "collectors" and the very disappointing Colt Cowboy for the CAS folks. Of course,price increases for both of these products have already been announced. The SAA will retail for around $1300 and the Cowboy for over $600,which is about 80% more than the Ruger Vaquero that it closely copies,right down to the transfer bar safety that Colt licensed from Ruger. Are Colt's days of living on the reputation of past great firearms over?? I don't know,but the handwriting is certainly on the wall. Fortunately,CAS participants have lots of options,other than Colt,to choose from.

Bill

[This message has been edited by Bill Mitchell (edited October 17, 1999).]
 
I am wholeheartedly behind this. But one thing we don't want to do is hurt our friends. So if you need some Colt parts from Brownell's or Gun Parts, first check if they have them in stock. If they do, buy them, if not and they will have to order it, get a substitute (they're usually better quality anyway).
 
Sigh! Let us hope that the state of Connecticut keeps the name Colt and someday it will be resurrected as an honest gun company.

I will never buy a smart gun, the only smarts my guns need exist between my ears.

Geoff Ross

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Damn!...I need more practice!
Pi$$ off the left, register to vote.
 
Unfortunately, Colt has already made their money once that Colt product is in your dealer's display case. He already paid for it. If you really want to piss Colt off, let them know you will try to convince every FFL holder and firearms distributor you meet not to stock any of their products or be licensed Colt dealers. Also let them know that you will try to convince any shooter you meet not to ask for or purchase any Colt products.

Basically, we don't want any thing made by Colt to leave their manufacturing plant.
 
MUTE - Your absolutely right. We need to talk to all the dealers in our areas not to order ANYTHING from Colt.

And Why would you anyway? Colt does not make a product better than Springfield or Kimber or etc. Why pay for that soiled Colt name?
Colt did have a reputation - they did have some dang fine guns.

This has put a bad taste in our mouths. A Cow Pie sandwich will do that.

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"A fear of weapons is a sign of retarded sexual and emotional maturity." - Sigmund Freud
RAGE AGAINST THE MACHINE
 
This is the exact reason why you should support your local retail gun store. I buy a good coupla grand each year in ammo and supply alone. While it may not be a lot, it'll make the store owner think about losing my business, especially if demand for Colt products aren't that high.
 
Seems I remember being mildly castigated on TFL several months ago for advocating a boycott of Colt products :) Looks like the times have caught up with me. As much as I like the older Colt products I will neither buy new or used. Buying used products encourages others to buy new products. If they know there is no market for used Colt products many will hesitate to buy new. Boycott them all the way around!

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Byron Quick
 
Whatever we may think of Colt's abdication, its remaining inventory doesn't seem to be rusting away. My dealer called seven (!) wholesalers last week trying to find Colts to meet his customers' sudden demand for them. The wholesalers just laughed at him. One wholesaler who specializes in Colts had had thousands in stock before Colt's infamous announcement, and now has zero-zip-nada left.

BTW, the Colt that's most in demand locally is the 1991A1. But Anacondas are selling steadily, too.
 
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