WTF.....Colt halts civilian sales of long guns.
- Thread starter SCULLY
- Start date
rifleman762
CGN Ultra frequent flyer
- Location
- Southern Alberta
Get woke, go broke. I hope they stay in business long enough for me to save up for a Colt Delta Elite in 10mm.
Cocked&Locked
CGN Ultra frequent flyer
- Location
- S. Ontario
I recall that was GM (government motors) and Chrysler that had the bailouts. Not Ford.
Too bad about Colt, I never forgave them for putting that stupid sear block in AR's along with large pin parts in the 90's. The idiot CEO at the time had huge contempt for private citizens owning the products they made. I have not bought any new guns from them since then.
Ford got a bailout of 5.9 billion. See https://www.thebalance.com/auto-industry-bailout-gm-ford-chrysler-3305670
I believe tat Ford was the only auto company that did NOT take a bailout...They instead mortgaged their entire company on the belief that they would and could survive.
From chevyhardcore.com
What The Automakers Got
The breakdown of the Automotive Industry Finance Program had loans to provide operating cash to GM and Chrysler, as well as money available for the car buyers through GMAC. General Motors was awarded a $13.4 billion loan with $6 billion set aside for GMAC. Chrysler was given a $4 billion loan. These amounts were determined to be the best alternatives for the companies by congress. Does that mean that Ford did not get any money from the governement? Hardly. Congress decided that the best alternative for Ford was to get funds from the Term Asset-Backed Securities Loan Facility (TALF), which is a government program for auto, student, and other consumer loans. These were very low-cost government loans to the tune of $5.9 billion that helped Ford tip-toe past bankruptcy and overhaul their factories to bring out more fuel-efficient technology
That says ford didn’t need the bailout and didn’t get bought by the government? Or am I not seeing something?
And even if it's only the AR today, giving themselves a bad name in the civilian market would affect 1911 and SAA sales as well. Yesterday, I'd want genuine Colt for the latter, but tomorrow could be a different story. Hopefully it's just a large military order putting us on the back burner temporarily.
All three companies received money for the government at the time. GM and Chrysler received money from the AIFP (Automotive Industry Financing Program) and Ford got money the DOE (Department of Energy). Each company had to restructure or meet government requirement to receive the money.
Large companies like government twist fact to suit the image they want to portray.
Enough said
From factcheck.org
A Ford TV ad slams competitors for accepting bailout funds, even though the company’s CEO lobbied for the bill. The company — the only one of the Big Three not to receive a bailout — feared a collapse of GM and Chrysler at the time would have hurt suppliers and, in turn, Ford itself. Ford Chief Executive Officer Alan R. Mulally also asked Congress for a “credit line” of up to $9 billion in case the economy worsened.
In other words, Ford was for government bailouts before it was against them.
Although Ford did not need money from the $80 billion bailout program, Ford did receive $5.9 billion in government loans in 2009 to retool its manufacturing plants to produce more fuel-efficient cars, and the company lobbied for and benefited from the cash-for-clunkers program — contrary to the ad’s testimonial that Ford is “standing on their own.”
Ford did not receive any money under AIFP, but that doesn’t mean it didn’t get any federal assistance.
In a Jan. 30, 2009, report on the bailout program, the Congressional Research Service noted that Ford “is counting on $5 billion from the DOE loan program to support a $14 billion plan to reorient its lineup toward more fuel-efficient vehicles.” On June 23, 2009, the Department of Energy announced it would provide $5.9 billion to Ford “to transform factories across Illinois, Kentucky, Michigan, Missouri, and Ohio to produce 13 more fuel efficient models.”
mebiuspower
CGN Ultra frequent flyer
- Location
- Morontario
From what I understand, COLT CANADA will be even more limited civilian production, an extreme rarity, if anything...
I guess we’ll have to wait and see.
Colt Canada would most likely be sold off from the parent co.
which might then cause them to need to drop colt from their name go back to being diemaco or assume the name of new buyer
If (big IF here) that happens CC rifles will actually become the limited editions they claimed they were supposed to be.
which might then cause them to need to drop colt from their name go back to being diemaco or assume the name of new buyer
If (big IF here) that happens CC rifles will actually become the limited editions they claimed they were supposed to be.
Colt Canada is peanut in the defence industry. I can see that GD or Rheinmetal will pick it up as a "gratitude" "do you a favor" to the CDN government for the award of other bigger land system contracts, if one day the Colt mothership decides it needs to spin off the side shows and concentrates on its " core business ".
If GD or Rheinmetal take over, you can pretty much kiss commercial sale goodbye.
If GD or Rheinmetal take over, you can pretty much kiss commercial sale goodbye.
