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Some Chicago Boyz know each other from student days at the University of Chicago. Others are Chicago boys in spirit. The blog name is also intended as a good-humored gesture of admiration for distinguished Chicago School economists and fellow travelers.
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Barack Obama, champion hand-gun salesman
Looks like Colt is headed for the auction block if they can’t secure their executives golden parachutes. It’s a shame that a brand that defined America is so poorly managed at the same time its competitors are thriving.
My Colt 1911 will increase in value but I hate to see the brand decline.
So many gun manufacturers were from CT – and the state have in recent years been very hostile to firearms – most would like to leave the state
http://www.hartfordbusiness.com/article/20141124/PRINTEDITION/311219979/gun-shy-firearm-makers-anchored-to-ct
Bill, interesting paragraphs in that article.
Colt, for example, had $302 million in debt and capital lease obligations last year, so even despite the large spike in post-Sandy Hook gun sales, the company ran a $137 million deficit in 2013.
Sturm Ruger, on the flip side, turned a $111 million profit in 2013. But most of its large manufacturing facilities are located out of state; its only Connecticut properties are 10,000 square feet of office space in Enfield and 25,000 square feet for its Southport corporate headquarters.
Sad to see what is happening to Colt but it could have been predicted.
Hmmm, if I was a betting man I would be wondering about SWHC surpassing its 2014 high price but Ruger lagging behind. Smith & Wesson’s margins are better, but you would expect that the rising tide would raise all the boats. Even more interesting is Taser which took a beating last month over pessimistic guidance, but it looks like it’s on sale with it’s growth rate.
“Sad to see what is happening to Colt but it could have been predicted.”
God created man, Sam Colt made them equal. Colt has been a well known brand known for top quality since the late 1800’s. How could they blow it?? While they weren’t looking European competitors Beretta and FNH ate their lunch…
http://www.thedailybeast.com/articles/2015/06/17/dropped-by-the-u-s-military-colt-goes-bankrupt.html
Colt’s .357 Python is arguably the finest revolver ever made. Selling at retail for $125 in 1960 an early model in excellent condition could go for up to $18,000 today. One in very good condition and not so rare would fetch up to one third that price, not bad. From an NRA article last month…
http://www.americanrifleman.org/articles/2015/8/18/colt-s-snake-guns/