Colt Near Bankrupcy

[AzRednek]

http://www.foxbusiness.com/investing/2015/04/27/colt-teeters-on-edge-bankruptcy-how-this-gun-maker-missed-obama-boom/

[ken98k]

Colt has been teetering since the grassroots boycott of the late 90's

[karlunity]

Sorry to read that if only for the sake of History

karl

[Dr.Hess]

Which 90's boycott was that? I don't recall that, but then the 90's was my "lost decade." 500 hour work months will do that to you. I remember the S&W boycott when Clinton convinced the English owners to sell us out. They caved pretty fast once people stopped buying their guns. Don't recall a problem with Colt.

That article mentions that bean counters bought Colt and spent all their time/resources playing with numbers instead of making guns. Another bean counter failure.

[AzRednek]

The 90's Colt boycott was a result of the President of Colt saying on a network broadcast. Might have been 60 Minutes I don't recall for sure which program. He would support federal legislation requiring the licensing of handgun owners. With the then some what new internet. The boycott took off pretty rapidly.

 

Strange how the Colt and S&W boycott took off but after Bill Ruger sold us out on magazine size. I don't think Ruger felt much backlash. I have refused to buy a new Ruger product since. Ol'man Ruger was po'd because Chinese SKS and AK's were killing his then new Mini-30 and Mini-14 sales plunged.

[karlunity]

Sure it was what 200 for a MIB AK or 70 bucks for a Milsup SKS as opposed to 400 for a mini 14?

I have often, in my more grown minutes, see the gun manufacturers as behind restrictive import laws on guns.

[ken98k]

Which 90's boycott was that? I don't recall that, but then the 90's was my "lost decade." 500 hour work months will do that to you. I remember the S&W boycott when Clinton convinced the English owners to sell us out. They caved pretty fast once people stopped buying their guns. Don't recall a problem with Colt.

 

That article mentions that bean counters bought Colt and spent all their time/resources playing with numbers instead of making guns. Another bean counter failure.

During a 1998 Washington Post interview, CEO Ron Stewart stated that he would favor a federal permit system with training and testing for gun ownership. This led to a massive grass-roots boycott of Colt's products by gun stores and US gun owners.http://en.wikipedia.org/wiki/Colt%27s_Manufacturing_Company

 

I boycotted them when they stopped making guns that I like. (Python, King Cobra, Dimondback, Anaconda.)

[AzRednek]

During that period I had a brick and mortar uniform business and began selling guns to keep up with my chief competition and attract police, security etc uniform business.

 

At the time I could buy a pallet of 144 SKS's for $39.00 each from a Chinese national operating a Long Beach Ca import business. If I remember right. The SKS's came with a sling, 2 stippers and a metal oiler bottle. I can't recall my cost on the AK's. The AK's were the superior so-called pre-ban Norinco and China Sports that today get a premium price.

[Dr.Hess]

Never heard of that ban. '98 was a very bad year for me. Living on 3 hours of sleep (interrupted, and that if you're lucky), one day off a month and having to fix whatever fell off the car on that day. Not surprising I missed it. Screw that.

 

I think that Uncle Bill's ban actually saved the US firearms industry. There is just no way we could compete with $39 SKS's. We can't even make a barrel for that. Or a stock. And we couldn't 20 years ago either. And Bush the First's ban created a cottage industry of making US made copies of foreign parts. Probably unintended consequences for both of them.

[karlunity]

Hum...I had not looked at it in that light.

Being a teacher at a small catholic school, I was focused simply on the wonderful low price.

Mausers that had been five hundred and up and SKSs about the same ...were suddenly 100 bucks !

But in the long run I think that you may well have a point. Bill helping gun industry...!!

Strange world indeed.

karl

[AzRednek]

My 20/20 hind sight says buy a few pallet loads!!

These at J&G are similar to what I should have bought a bunch of. The only difference were the ones I bought had chrome plated spike bayonets. They were the earlier pinned barrel, chrome bore unfired and packed in cosmo.

http://www.jgsales.com/-c-209_218.html

 

Not only were USA manufactures in competition with SKS and AK's. The Chinese were manufacturing bolt action rifles using the Winchester pre-64 platform, M-14's, 1911's and the 9MM Norinco Tokarov pistol were about mid 40's to dealers. One of the police supply rep's that called at my store said the Chinese had a copy of the N-frame S&W revolver in the works. Retail for either a thousand of steel cased 762X39 or 223 were less than $80.00 out the door. If I remember right I paid 5 or 6 bucks more to get the 762X39 on SKS stripper clips.

 

Does anybody recall the dug up rifles from China?? Most were well worn but the few I bought and sold were shootable. Anything from 03 Springfields, various Nagants, some Brit Enfields and nearly all the Jap rifle models. A few M-1's converted to 7.7 Jap turned up but I was way to late. Despite being DEWATS to ATF's specs. ATF blocked all full autos from being imported.

 

After Mao drove out the Japs and took control of China. Most captured rifles were buried in large pits. Some were packed in grease but most just tossed into pits. They turned up in the USA in the early to mid 80's.

 

The "pre-ban" I referred to was an executive order from Clinton banning all Chinese firearms and ammo from being imported. Clinton later allowed Chinese shotguns but kept the ban intact on semi-auto shotguns.

 

If Clinton had not banned the Chinese guns and ammo. Our firearms and ammo industry would have gone down the tube the same way as the US hand tool manufactures.

[karlunity]

Yep..SKSs at turners no stock but I would say NRA VG for 65 bucks.

And Ammo in stripper clips for 2 bucks a box.

 

karl

[AzRednek]

 

I have often, in my more grown minutes, see the gun manufacturers as behind restrictive import laws on guns.

No different than the US auto makers leaning on Uncle Sam to restrict imports. My guess is the Japs dump mega bucks into lobbying Congress to keep the door open. About the best US auto makers have got from Congress are limits on the number a Japanese manufacture can export to the USA.

[Dr.Hess]

Those limits on the Jap cars made them more valuable, boosting pure profit.

[FC]

Dr. Hess, those are some awful physician hours. Not the profession if you need 8 hours of sleep.

[karlunity]

I have often wondered why that many hours for a job that requires a clear mind?

I know that the basic idea came from the Napoleonic medical officers, but this is not 1830

 

karl

[AzRednek]

I have often wondered why that many hours for a job that requires a clear mind?

I know that the basic idea came from the Napoleonic medical officers, but this is not 1830

 

karl

Years ago I had a Dr fall asleep on me and a couple other patients while studying my x-rays. When the staff couldn't awaken him they called 911. He was working long hours at Luke AFB and off hours at a walk-in clinic him and other military Dr's formed. I was told he just passed out after working over 36 hourstraight with no sleep.

 

A few months later, ran into him at a grocery store. He was through with the long hours, saying he was working ER shifts to pay the bills and searching for a small town needing a Doctor. I'm glad to have met him as he talked me out of having back surgery.

[AzRednek]

Those limits on the Jap cars made them more valuable, boosting pure profit.

I remember my brother waiting very impatiently for a new Datson 240Z. Despite the waiting list and dealers padding retail price. One could buy an equivalent or as many claim better than the US Corvette for a few grand less.