Firearms Friday: Colt Bankruptcy

Anyone who has served in the military are familiar with Colt. Anyone who has some experience with firearms is probably familiar with Colt as well. Heck, if you ever watched a Western you probably recognize the name. Overall, it is safe to say that the Colt brand remains in the pantheon of firearms manufacturers. However, the question now is how long will the company hold that revered place in the industry?

The fact remains that of the countless veterans with whom I have spoken that remain involved in the firearms community the majority of them refuse to purchase a Colt for the simple fact that there are better firearms on the market (especially for the price). Heck I can even remember the issues I had with my service rifle on the range and thinking to myself at the time “how do they expect this to hold up in the field?” It has become pretty clear that while the name remains near the top of the echelon, the actual firearms that are being produced fall far short of that reputation.

While there is no hard evidence to back up this assertion, it seems as though this is a significant contributing factor to the ongoing financial struggles that Colt continues to face. With contracts being cut and a variety of other options in the civilian marketplace, Colt is finding it difficult to compete and remain financially solvent. The current bankruptcy mumblings have been part of the everyday operations of the company for the past decade and now might finally be the time when the hammer falls.

The poorly structured company has nearly exhausted their resources even going so far as mortgaging many of the patents that the company holds. When the reserves are depleted and the revenue streams begin to dwindle down to a trickle, it won’t be long before the company faces the inevitable. While I don’t want to see the company go under, at some point you have to come to the realization that maybe it is for the best. The products they are putting out into the marketplace are not Colt quality like production runs in the past. It might be time for them to step aside.

Given the power that the name and brand still holds in the mind of consumers, even a bankruptcy will not spell the end for Colt. It is almost guaranteed that the brand will meet the same fate at Springfield Armory and be reborn in a completely different company and corporate configuration. It may not be a bad way to go.

Head on over to The Firearms Blog for additional coverage on the Colt saga... 

Keep Your Debts To Yourself!

Well, with her new book being released, it should be no surprise that Hillary Clinton was in the news again this week. Something else that should not be surprising is that fact that, once again, she is backpedaling to ‘clarify’ the statements that she gave to Diane Sawyer. One thing that you have to keep in mind when this happens is the fact that it is more than likely that all of the questions that she was asked were vetted and responses rehearsed for weeks prior to the two women sitting down for their conversation.

I am sure you have either watched, read, or listened to Mrs. Clinton expounding upon her hardships upon leaving the White House in January 2001 with particular focus on the financial ‘struggles’ that the Clintons’ faced reentering private life. As was reported by CNN, “Mrs. Clinton said she and former President Bill Clinton were "dead broke" and "struggled to piece together the resources" for mortgages in pricey Washington and the New York suburbs and their daughter Chelsea's tuition at prestigious Stanford University.” Yeah, even CNN is calling BS on this one.



Be careful what you say, your face might freeze that way!

I know, it must have been hard struggling to find some means of gainful employment so they could keep paying their mortgages, resolve their debts, and scrape together the pennies to cover Chelsea’s college tuition. Obviously, she had no other choice but to take advantage of the bountiful ‘limited’ opportunities at hand. She didn’t really want to but she had to force herself to make millions of dollars in speaking fees. How else was she going to pay off her millions in debt, keep current on her mortgages, and pay for her daughter’s schooling? It’s not like she could simply move to another state and swipe a Senate seat.

Maybe if Chelsea were in college now Hillary may not have had to work so hard to pay for her college tuition. It seems as though this administration wants everyone to have a college degree that they don’t have to pay for, at least not at full price. Now, I agree that higher education has become outrageously expensive and I am always for getting a discount but I am offended that we, as taxpayers, are going to have to pay for that discount. Where did you think that money was going to come from? If you are going to offer money for education we should, at the very least, give the funds to people that have earned that money and funnel the additional funds into the GI Bill. Oh wait, that's right, you already screwed up the VA.

I don’t know about you but I already have plenty of personal debt that I am trying to pay down without taking on someone else’s burden. I struggle every month to find that little extra so that we can make progress. Slowly we are inching closer and closer solvency but every time a new tax (which is what this whole scheme will end up being) that is a little less each month that I can apply toward solvency. So stop telling me how hard you had it trying to make payments on your numerous homes and the struggles you faced when you were forced to earn millions talking to the mindless throngs of sheep. And, most importantly, stop spending my money on things that don’t make any darn sense and are an insult to financial responsibility.