[Newsbot]

Title: Gun maker Colt Defense files for bankruptcy protection in U.S.
Category: Business
Posted By: DrCaleb
Date: 2015-06-15 07:23:46
Canadian

[Freakinoldguy]

Market saturation perhaps. There are a myriad of good gun makers out there and to make a buck you've got to be innovative and a pack leader. You can't just rely on your name anymore. You have to be innovative in all aspects of your business, not just with your handguns, something Colt may have forgotten.

When was the last time they developed a new innovative long gun? The M16 was pretty much the pinnacle and they've survived on the fact that militaries across the world are still purchasing it.

[BartSimpson]

What's being left out in the story is that Colt, like many other US arms makers and dealers, was targeted by the Obama administrations' "Operation Choke Point" which has interrupted normal banking activities for arms makers and gun dealers that the progholes disapprove of.

[xerxes]

That's peanuts. They lost the big contract with the Army over the M-4 a few years. Plus gun sales are down across the board desire the shootings that always drive up gun sales temporarily.

[BartSimpson]

xerxes xerxes:

That's peanuts. They lost the big contract with the Army over the M-4 a few years. Plus gun sales are down across the board desire the shootings that always drive up gun sales temporarily.

Gun sales are not down across the board. Quite the contrary.

http://www.foxbusiness.com/industries/2 ... gun-sales/

$1:

Colt’s financial decline stands in contrast to a growing consumer market for firearms. While Colt relied heavily on its military business, rival brands like Sturm Ruger (RGR) and Smith & Wesson (SWHC) benefited from the popularity of polymer pistols and other consumer firearms.

Shares of both Ruger and Smith & Wesson are up roughly 60% since the start of 2015, far outpacing the broader market.

The FBI’s NICS background checks, which are used to gauge consumer sales, hit a record high for the month of May at 1.58 million. Background checks jumped from 8.95 million in 2005 to nearly 21 million in 2014.

[Lemmy]

BartSimpson BartSimpson:

...progholes...

Takin' it back, fuckers

[BartSimpson]

Nice to know the term hits home!

[Lemmy]

Nope, just makes you look as dim as Fiddly for using it.

[BartSimpson]

Lemmy Lemmy:

Nope, just makes you look as dim as Fiddly for using it.

As long as it pisses you off then I'm satisfied.

[Lemmy]

BartSimpson BartSimpson:

As long as it pisses you off then I'm satisfied.

Then I guess you're not satisfied. Listen to the Genesis tune, maybe that'll satisfy you. Or I could post a different prog band instead. How about Rush, you know, that band with the Marxist lyrics?

[xerxes]

BartSimpson BartSimpson:

xerxes xerxes:

That's peanuts. They lost the big contract with the Army over the M-4 a few years. Plus gun sales are down across the board desire the shootings that always drive up gun sales temporarily.

Gun sales are not down across the board. Quite the contrary.

http://www.foxbusiness.com/industries/2 ... gun-sales/

$1:

Colt’s financial decline stands in contrast to a growing consumer market for firearms. While Colt relied heavily on its military business, rival brands like Sturm Ruger (RGR) and Smith & Wesson (SWHC) benefited from the popularity of polymer pistols and other consumer firearms.

Shares of both Ruger and Smith & Wesson are up roughly 60% since the start of 2015, far outpacing the broader market.

The FBI’s NICS background checks, which are used to gauge consumer sales, hit a record high for the month of May at 1.58 million. Background checks jumped from 8.95 million in 2005 to nearly 21 million in 2014.

My bad. I read the article wrong.

$1:

Colt has been plagued by financial problems in recent months.
Last November Colt took out a $70m loan from Morgan Stanley to help make an interest payment.
But last month it missed a $10m interest payment.
Last year sales of its sports rifles and handguns fell 30%.
The company has a long US history, known for making American firearms for more than 150 years.
The company previously filed for bankruptcy protection in 1992, emerging again two years later.

http://www.bbc.com/news/business-33130987

[Zipperfish]

xerxes xerxes:

[My bad. I read the article wrong.

Not good enough, proghole.

[2Cdo]

Maybe it's time to start looking at Colt products.

Should be able to get them for a good price.

[DrCaleb]

2Cdo 2Cdo:

Maybe it's time to start looking at Colt products.

Should be able to get them for a good price.

I've thought of adding the venerable 1911a to my target shooters for a long time. But looking at alternatives, you can get a stronger and lighter chassis, wider grip and double stack magazine, harder and more accurate barrel and all manner of aftermarket triggers, sights and suppressors - from other manufacturers.

So you can make a hybrid Colt 1911a that has nothing in it made by Colt. Which I think is why they haven't been doing so well.

[2Cdo]

DrCaleb DrCaleb:

2Cdo 2Cdo:

Maybe it's time to start looking at Colt products.

Should be able to get them for a good price.

I've thought of adding the venerable 1911a to my target shooters for a long time. But looking at alternatives, you can get a stronger and lighter chassis, wider grip and double stack magazine, harder and more accurate barrel and all manner of aftermarket triggers, sights and suppressors - from other manufacturers.

So you can make a hybrid Colt 1911a that has nothing in it made by Colt. Which I think is why they haven't been doing so well.

True enough. Not a pistol guy but thinking of something like this.
http://www.colt.com/Catalog/BoltActionRifles.aspx