hoosierdaddy
New member
Silkha is the owner of Colt's. Here is a little information on the man and his politics.
http://www.alamanceind.com/newfol~2/nation_25.html
Quote:
All of the above ultimately led to the company's chapter 11 bankruptcy in 1992. In 1994 the assets of Colt were purchased by Zilkha & Co, a financial group owned by Donald Zilkha. Zilkha's financial backing of the company, combined with his connections to the Democratic Party, enable Colt to begin winning back military contracts. Profits from these contracts were to be used to again attempt to regain their share of the civilian market, but it was not to be.
During a 1998 newspaper interview, CEO Ron Stewart stated that he would favor additional gun control at the federal level. This, in combination with the growing revelations of Zilkha's ties to anti-gun factions of the Democratic party, led to a massive grass-roots boycott of Colt's products and ultimately to the resignation of Ron Stewart. Zilkha replaced Stewart with Steven Sliwa and focused the remainder of Colt's handgun design efforts into "smart guns", a concept which was favored politically but had little interest or support among handgun owners. This research never produced any meaningful results.
Colt today is a shadow of its former self. It survives primarily on the manufacturing of military weapons based on other companies' designs, and on the continuing production of classic Colt designs which are sold primarily to collectors.
On November 4, 2002, Colt split into two companies: Colt’s Manufacturing Company, Inc, manufacturing and selling commercial arms, and Colt Defense LLC manufacturing and selling military arms
source
http://www.alamanceind.com/newfol~2/nation_25.html
Quote:
All of the above ultimately led to the company's chapter 11 bankruptcy in 1992. In 1994 the assets of Colt were purchased by Zilkha & Co, a financial group owned by Donald Zilkha. Zilkha's financial backing of the company, combined with his connections to the Democratic Party, enable Colt to begin winning back military contracts. Profits from these contracts were to be used to again attempt to regain their share of the civilian market, but it was not to be.
During a 1998 newspaper interview, CEO Ron Stewart stated that he would favor additional gun control at the federal level. This, in combination with the growing revelations of Zilkha's ties to anti-gun factions of the Democratic party, led to a massive grass-roots boycott of Colt's products and ultimately to the resignation of Ron Stewart. Zilkha replaced Stewart with Steven Sliwa and focused the remainder of Colt's handgun design efforts into "smart guns", a concept which was favored politically but had little interest or support among handgun owners. This research never produced any meaningful results.
Colt today is a shadow of its former self. It survives primarily on the manufacturing of military weapons based on other companies' designs, and on the continuing production of classic Colt designs which are sold primarily to collectors.
On November 4, 2002, Colt split into two companies: Colt’s Manufacturing Company, Inc, manufacturing and selling commercial arms, and Colt Defense LLC manufacturing and selling military arms
source