Speaking of gun companies I like acting questionably . . .
Colt is ready to exit bankruptcy. They are going to do this by reneging on retirement benefits and letting tax payers foot the bill. And why is the UAW involved at Colt?
11 Responses to “Speaking of gun companies I like acting questionably . . .”
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December 22nd, 2015 at 6:31 pm
Do they make their barrels from car axles? If I were in Management I wouldn’t want the UAW near anything my company did, especially anything financial.
December 22nd, 2015 at 7:01 pm
It seems like those assholes are the catch all union, I see them in many places that have nothing whatsoever to do with auto manufacturing.
December 22nd, 2015 at 7:39 pm
The union needs the dues.
December 22nd, 2015 at 9:34 pm
Clearly, because of the proliferation of Assault Cars.
December 22nd, 2015 at 9:41 pm
One of the bondholders is LOANING them another $30 million. And the “union” got their retired members an extra $150 per year on their medical than Colt wanted and money from the State of Massachusetts (the latest in a series from Massachusetts).
What is the definition of insanity: Doing the same thing over and over and expecting different results.
December 22nd, 2015 at 10:59 pm
@Mike V, I hadn’t heard anything about Massachusetts being involved. With Colt being in CT, it didn’t make sense to me (not to mention MA’s distaste for firearms companies). Can you point me to a citation on that?
Thanks!
December 23rd, 2015 at 5:35 am
Didn’t they do this before?
I bet the management of any entity with a famous old name can run up a bunch of debts, line their pockets, screw the bondholders and use bankruptcy at least three or four times before the rubes get wise.
December 23rd, 2015 at 11:22 am
Colt’s employees have been represented by the UAW since forever.
In 1979 I bought a new Colt Python. The box was marked with the UAW logo.
It’s not a new thing.
December 23rd, 2015 at 6:14 pm
IIRC, that union is part owner of Colt, along with the state itself. This resulted from an earlier bankruptcy due to labor costs, along with their normal inept management. This is why the company can’t relocate to a better state. No smart investors would buy them with this situation.
December 23rd, 2015 at 6:42 pm
Colt was. However, I would just like to buy a 10mm Thompson on Amazon, made inexpensively in China under stringent quality control, with a titanium receiver, American walnut furniture made in the US, and, of course, in the standard, select-fire version since no one with a shred of intelligence wants a crappy semi-auto only version that is only appropriate for grandma. Not very practical or traditional, but still, a very nice toy. Should be good enough in the “anti-bandit” role to 100 yards, with Gold Dot hollowpoints, of course, though with Blazers for practice. If say, 10,000 people buy it, it should be good for its own shooting competitions. When can we start? And don’t give any of that communist twaddle that we can do no such thing – I’m sick of that, and we Americans need to start doing a lot more target shooting. Let’s get going!
December 23rd, 2015 at 6:48 pm
Old Windways,
You’re right, its Connecticut, I don’t know why I typed Massachusetts. Must have S&W on the brain.