Fear & Loading: Early Gift for Colt Fans

by
posted on December 23, 2015
colt-logo.jpg

A memorandum of understanding signed last week by the union led to court confirmation of the company’s plans to exit bankruptcy protection, and paves the way for the firm to resume “business as usual.”

United Auto Workers (UAW)—the union 462 of the 610 workers belong to in the Colt plant—conceded to a reduction in medical coverage after retirement, agreed to measures to increase productivity and will consider a four-day, 10-hour work week. The court looked favorably on the measures, and certainly didn’t overlook the statement that management was going to explore the possibility of securing a $10 million loan from Delaware.

The Hartford Courant has complete details, and to paraphrase a quote often attributed to Mark Twain, the news of the company’s death is greatly exaggerated. It’s far from out of the financial woods, although the firm has a long history of comebacks.

UAW and Colt issued a joint statement on Dec. 17 about the development and Union Shop Chair Mike Holmes said, “Together, we have succeeded in maintaining our contract and securing good jobs with a continued presence in West Hartford.” Colt CEO Dennis Veilleux said, “We are proud of our workforce and the dedication that they have given Colt during this difficult restructuring process.”

Latest

Eotech Launches Anti
Eotech Launches Anti

EOTech Launches Anti-Counterfeit Measures

EOTech has launched a campaign targeting those who create and sell illegal copies of its military sighting systems.

The .405 Winchester: History and Performance

Now largely a forgotten footnote in cartridge development, the .405 Winchester was once the most powerful rimmed cartridge capable of use in a lever-action rifle and was a favorite of Theodore Roosevelt.

Colt Mustang .380 ACP: The Pocket-Size 1911

Based off the classic 1911 design, the small Colt Mustang chambered in .380 ACP is easily concealable and shares the same classic look in its tiny frame.

NRA Reschedules The Annual Members' Meeting

The NRA has rescheduled its Annual Members' Meeting to occur on Oct. 2, 2021 in Charlotte, NC.

The Men And Guns Of D-Day: 101st Airborne Division

Watch this segment of American Rifleman Television "The Men And Guns Of D-Day" to learn more about the men of the 101st Airborne Division, their stories and the firearms they used during "The Great Crusade."

Pat Garrett's Pistol Sells for Highest Price in History

The Colt Single Action Army revolver used by Pat Garrett to kill Billy The Kid sold at auction from Bonhams for more than $6 million dollars, in what is probably the highest price ever paid for a civilian firearm.

Interests



Get the best of American Rifleman delivered to your inbox.