TexasCHLforum.com

ELB wrote:

RoyGBiv wrote:The following is my opinion.

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I certainly do not have the inside scoop on this.. but as an outside observer, this looks (my personal opinion, nothing more) like a case where former Colt management has lived large on the backs of it's suppliers and possibly its employees (are pensions currently underfunded?), and now they're flushing away the debt and starting over. .

As I mentioned earlier, the guy who blogs at Weaponsman.com has published a detailed look into this, and I think he says pretty much what you are saying. Money was pulled out of the company to pay management and consultants, and not put back into new products and manufacturing. Even the building is owned separately by Sciens people and leased back to the Colt company...and the Colt name and patents have already been mortgaged to provide money, so there's really not much left of value.

Some more here: http://weaponsman.com/?p=23383" onclick="window.open(this.href);return false;