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Posted: 10/10/2004 9:40:41 AM EST
[Last Edit: 10/10/2004 9:53:26 AM EST by redfisher]
I read an article (albeit dated '93) that suggests that Colt is a company that is 65% owned by the State of Connecticut.

WTF? This has to be wrong- right? Since when do states own companies?

On the other hand, It sure would clear up a lot of BS about the Colt customer service, and Colt position civilian sales wouldn't it?

I offer it here because- well, this is the Internet, and you can do that, but I also felt this bunch would settle it once and for all.

Myth (BS) or fact?
here's the article..................here

exerpt:

re AWB:

"Most ironically, the Colt's Sporter is also on the list. The State of Connecticut is 65 percent owner of Colt's, but that didn't seem to slow Weicker in signing the bill."
Link Posted: 10/10/2004 10:37:31 AM EST
I don't know about any of that, but Colt has changed hands (probably multiple times) since then.
Link Posted: 10/10/2004 10:59:52 AM EST
although The State of Conneticuit does not now own 65% of Colt...............they may own some.

currently, according to company records............

"..............Founded in 1836 by Samuel Colt, the company is about 85%-owned by investment firm Zilkha & Co., who has been reviving the company since 1994 when it bought the firm out of bankruptcy"
Link Posted: 10/10/2004 5:27:50 PM EST
The state picked up a large share of the company back when Colt was on the verge of going belly ip on the 1980s. Guess they figured it was cheaper than having to pay unemplyment compensation to all the workers, if Colt closed the doors.

Seems like they've sold off most of their holdings more recently, bur as far as I know, the state still owns a chunk of the stock
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