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

Eaa Corp Girsan Regard Mc F
Eaa Corp Girsan Regard Mc F

New For 2022: EAA Girsan Regard MC

Girsan expanded its Regard lineup of Beretta 92 clones with an optic-included option in 2022, which comes complete with a frame-mounted accessory rail.

First Look: Browning PRO22 .22 LR Rimfire Ammunition

New for 2022, Browning introduces its new PRO22 .22 LR rimfire ammunition line.

New For 2022: Winchester SXP OD Green Defender

New for 2022, Winchester Repeating Arms now offers its SXP Defender pump-action shotgun in an OD green finish.

New For 2022: Trailblazer Firearms Pivot Rifle

Trailblazer Firearms releases the Pivot Rifle, an innovative pistol-caliber carbine that can fold for easy transport and storage.

New For 2022: Diamondback Firearms Sidekick

New for 2022, Diamondback Firearms announces the release of the new Sidekick convertible  revolver chambered for both .22 LR and .22 Mag.

New For 2022: B&T USA SPC9 Special Purpose Carbine

Brugger & Thomet USA introduced a new pistol-caliber carbine chambered in 9 mm, which features design cues from several different platforms into one: the SPC9 Special Purpose Carbine.

Interests



Get the best of American Rifleman delivered to your inbox.