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Depending on the government

These pages have, for years decried how people and organizations have depended on government in order to keep body and soul together. It is indeed a two edged sword. One that, like a pendulum always swings in both directions. Businesses, like people, are subject to the addiction process.It’s time for some tough love. I can only hope that a champion of capitalism comes to the rescue.

Colt Defense LLC, the 179-year-old gunmaker that supplies M4 carbines and M16 rifles for the U.S. and foreign militaries, filed for bankruptcy amid delayed government sales and declining demand.

The West Hartford, Connecticut-based firearms maker listed assets of as much as $500 million and debt of as much as $500 million in a Chapter 11 filing late Sunday in bankruptcy court in Wilmington, Delaware. Wilmington Trust Company is listed as the biggest unsecured creditor with a $261 million claim.

SOURCE

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This entry was posted on June 15, 2015 at 06:39 and is filed under Economics, Editorial, Opinion, Education, Gun Control, Law, News, Politics, Stupid is as Stupid Does, Warfare. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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