Colt Crisis.....?
- Thread starter Max Owner
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Mangosteen
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- Okanagan BC/Alberta/ Peruvian coast.
Interesting article on old Baghdad Iraq money behind Colt for the last 25 years. Never knew!!
In 1994 Colt's Manufacturing Company was purchased by Zilkha & Company of New York City for $12 million. Donald Zilkha, then 42, was and remains company president. Three years after buying Colt, he unsuccessfully tried to buy FN Herstal, as mentioned above, for $82 million. It would have given him control of Winchester, Browning, and Colt.
Where did this young guy get that kind of money? He was born right. He is the son of Azouri "Ezra" Zilkha, "a scion of a Babylonian Jewish banking family," according to a 2001 article in Traders Magazine. The New York Times in 1999 described the Zilkha family as "one of Iraq's richest banking dynasties." The family left Iraq after the Second World War and successfully reestablished itself in the U.S.
The family patriarch, Khedouri (or Khadouri) Zilkha (1884-1956), launched banks throughout the Middle East. His son Ezra, now 82, self-published his memoir in the 1999 book From Baghdad to Boardrooms: My Family's Odyssey. It's available in some used bookstores.
In 1994 Colt's Manufacturing Company was purchased by Zilkha & Company of New York City for $12 million. Donald Zilkha, then 42, was and remains company president. Three years after buying Colt, he unsuccessfully tried to buy FN Herstal, as mentioned above, for $82 million. It would have given him control of Winchester, Browning, and Colt.
Where did this young guy get that kind of money? He was born right. He is the son of Azouri "Ezra" Zilkha, "a scion of a Babylonian Jewish banking family," according to a 2001 article in Traders Magazine. The New York Times in 1999 described the Zilkha family as "one of Iraq's richest banking dynasties." The family left Iraq after the Second World War and successfully reestablished itself in the U.S.
The family patriarch, Khedouri (or Khadouri) Zilkha (1884-1956), launched banks throughout the Middle East. His son Ezra, now 82, self-published his memoir in the 1999 book From Baghdad to Boardrooms: My Family's Odyssey. It's available in some used bookstores.
Mangosteen
Regular
- Location
- Okanagan BC/Alberta/ Peruvian coast.
Best to buy an older Colt like Pythons and such that were hand made before these last set of clowns took the company over. Engineered financial teeter totter and one can only wonder how they cannot turn a profit in war time.
This wouldn't be the first time Colt faced the prospect of bankruptcy. Considering how poorly managed company is (and the fact that they have not released an innovative product since the early 60's), it's remarkable that the company is still in business.
considering colt as a company died a long time ago, colt now exists as a brand to be bandied about be various financialized partners.
It is no longer a manufacturer. it is the brand that will live on under even a catastrophic bankruptcy. someone will buy the brand and any meaningful ip and form a new colt...same as the old colt.
It is no longer a manufacturer. it is the brand that will live on under even a catastrophic bankruptcy. someone will buy the brand and any meaningful ip and form a new colt...same as the old colt.
Well I hope our Canadian Ranger rifle gets built, I cant imagine anymore delays....
That has nothing to do with Colt USA.
Mangosteen
Regular
- Location
- Okanagan BC/Alberta/ Peruvian coast.
Colt Defense Files for Chapter 11 Bankruptcy Protection
Gun maker struggled after loss of Army contract and missed filing deadline for annual report
By MATT JARZEMSKY
Updated June 15, 2015 8:12 a.m. ET
Gun maker Colt Defense LLC said late Sunday it is filing for chapter 11 bankruptcy-court protection, amid business-execution issues and a heavy debt burden.
Gun maker struggled after loss of Army contract and missed filing deadline for annual report
By MATT JARZEMSKY
Updated June 15, 2015 8:12 a.m. ET
Gun maker Colt Defense LLC said late Sunday it is filing for chapter 11 bankruptcy-court protection, amid business-execution issues and a heavy debt burden.
