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Report: Colt Firearms Could Default By Year's End
Posted on 11/14/14 at 12:25 pm
Posted on 11/14/14 at 12:25 pm
quote:
Colt Rifle and pistol sales are sluggish and the company "is likely to miss a [$10.9 million] payment to bondholders" on November 17.
quote:
Colt expects to report a "50 percent to 60 percent decline in operating income for the quarter [that] ended September 28."
quote:
With income down but expenses remaining up, it should be noted that Colt workers are unionized--members of the United Auto Workers (UAW). So there are certain costs associated with the presence of unionization that are eating away at Colt's bottom-line as well.
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Posted on 11/14/14 at 12:30 pm to Jarlaxle
Bad mgt pull open the books lets take s look
With income down but expenses remaining up, it should be noted that Colt workers are unionized--members of the United Auto Workers (UAW).
That's all folks
With income down but expenses remaining up, it should be noted that Colt workers are unionized--members of the United Auto Workers (UAW).
That's all folks
This post was edited on 11/14/14 at 12:33 pm
Posted on 11/14/14 at 12:32 pm to Jarlaxle
Freedom Group (Remington) will soon buy them out and the product will go to crap 
This post was edited on 11/14/14 at 12:52 pm
Posted on 11/14/14 at 12:46 pm to Jarlaxle
Sucks for Colt but their workforce deserves $48/hr and 16 15-minute breaks per 8 hr work day. That's the Murican way.
Posted on 11/14/14 at 1:16 pm to LSUballs
quote:
The automobile manufacturing implosion in Detroit and subsequent bailouts highlighted how the added union costs crippled makers like Chevrolet, Dodge, and Chrysler.
This...
Posted on 11/14/14 at 1:20 pm to swanny297
Is there a list of non-union manufacturers? That would be nice to know.
Posted on 11/14/14 at 1:22 pm to Jarlaxle
On the plus side, this will probably drive up the price of my Colt Firearms.
Posted on 11/14/14 at 1:31 pm to Jarlaxle
I've done my part for them
Posted on 11/14/14 at 2:17 pm to Jarlaxle
They oughta be rolling in cash after the run they've had.
Posted on 11/14/14 at 2:46 pm to Jarlaxle
Unions are so good for companies though
Posted on 11/14/14 at 3:03 pm to Jarlaxle
Nice to see who the desk jockeys are. Me and my union brothers work hard. We don't buy lunch for a living. Pussification of America.
Posted on 11/14/14 at 3:07 pm to Artie Rome
quote:
Me and my union brothers work hard
You must not be UAW...
Posted on 11/14/14 at 3:28 pm to Jarlaxle
If they go out of business, will that make old guns of theirs more or less valuable?
Posted on 11/14/14 at 3:31 pm to Jarlaxle
Let them go under and layoff all the bloodsuckers. Then move south restart and make $.
Posted on 11/14/14 at 3:41 pm to VetteGuy
quote:
They oughta be rolling in cash after the run they've had.
They are not, and there is a long story as to why.
Posted on 11/14/14 at 4:09 pm to Cracker
Why is a gun manufacturer using UAW union workers?
Unions are a cancer to the entire free market system.
Unions are a cancer to the entire free market system.
Posted on 11/14/14 at 4:20 pm to warr09
Colt's has been a union shop for decades.
Posted on 11/14/14 at 5:14 pm to GREENHEAD22
quote:
Let them go under and layoff all the bloodsuckers. Then move south restart and make $.
I will NEVER forget observing my first conversation with a union worker.
Weirdly, it was in an economics class in college. Our professor was explaining exactly what a union was....she is a professor....hence she is pro-union.
One of the students raised her hand and asked why unions were good for individuals, the companies they work for, as well as the nation as a whole.....and also why everyone wasn't in a union.
A guy in our class (from Philadelphia....imagine that) said he worked for a grocery workers union. He couldn't tell us why he joined except for the fact that he made $12 per hour, but in North Carolina he could only make $6. Then he went on to say that the South was backward.
I asked why he was here in the South. He said that he could afford out of state tuition at UNC easier than some obscure PA school's in-state tuition.....however, he couldn't get in to UNC, so he joined us redneck frat boys at ECU.
I look back on it and wonder how things have gotten this way.
Posted on 11/14/14 at 5:47 pm to KingRanch
quote:
I've done my part for them
Me too! These were all acquired in the last 6 mons.
Posted on 11/14/14 at 6:58 pm to Jarlaxle
Hate to see this happen, but I do have a "few" Colts that might increase in value if it does.
I'll keep my thoughts on the Union to myself if you don't mind.
I'll keep my thoughts on the Union to myself if you don't mind.
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