Topic: Colt goes into Ch.11

[Libertas]

Yeah...

This - "A nationwide boycott of Colt in 1998 followed after then-CEO Ron Stewart’s remarks regarding his support for nation wide gun permits and other gun control policies."

And this - "Colt’s headquarters are based in West Hartford, Connecticut, which the Tax Foundation ranks 42nd on their “Business Tax Climate” rankings. Not only does this make a large cut into Colt’s profits, but it also means that every time someone buys a Colt product, a portion of what the person spent goes to the state of Connecticut, which turns around and uses that money to enforce their gun control policies."

http://www.thegatewaypundit.com/2015/06/colt-defense-files-bankruptcy-connecticut/#ixzz3d9OIMv7y

Idiots!

[warpmine]

Yeah...

This - "A nationwide boycott of Colt in 1998 followed after then-CEO Ron Stewart’s remarks regarding his support for nation wide gun permits and other gun control policies."

And this - "Colt’s headquarters are based in West Hartford, Connecticut, which the Tax Foundation ranks 42nd on their “Business Tax Climate” rankings. Not only does this make a large cut into Colt’s profits, but it also means that every time someone buys a Colt product, a portion of what the person spent goes to the state of Connecticut, which turns around and uses that money to enforce their gun control policies."

http://www.thegatewaypundit.com/2015/06/colt-defense-files-bankruptcy-connecticut/#ixzz3d9OIMv7y

Idiots!

[ToddF]

A gun company going bankrupt during the Obama Presidency (in which pretty much only gun/ammo companies thrived) is a new level of fail.

[Libertas]

They chose to go primarily for government contracts over civilian sales and had their butts beat out by FN, so yeah...three strikes...

[Glock32]

I was unaware of those previous statements when I bought my Colt last year, otherwise I probably would've gone with the Bravo Company rifle instead.  Oh well.  I've got the Colt AR15A4, a pretty faithful copy of the M16A4 used by the Marine Corps.

Of course, after I got the Colt I learned more about home builds and have since built two more ARs.

[fordguy_85]

Even aside from losing the gov't contracts to FN Herstal, Colt relied to much on brand loyalty in a saturated market, and did a bare minimum for the civilian market anyway. Too many great companies ready and willing to go the extra mile to win your favor. As above, this is a pretty epic fail to file for bankruptcy with gun sales being the way they've been the last several years.

[Glock32]

Yeah, some of those companies have a bit of a snotty attitude toward the civil market.  H&K is a bit like that, and with the huge controversy in Germany about their G36 rifle and its poor accuracy, they may wish they'd been a bit warmer to the civil market.

[Libertas]

I never quite understood how a lackadaisical attitude can creep in like that...but then it probably works much like the Progressive virus...it just oozes under the door and begins to contaminate everything.  A recognized and once respected brand name might get people to walk in the door, but a product or service still has to stand on its own merits.  And blowing off half the market is just inexcusable.  I think maybe they stayed too long in Connecticut.  At best that state is an Establishment playground and it is surrounded by moonbats.