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Colt management decided to rely on military M16 sales to stay in business and screw the commercial handgun market. Colt has suffered from boob managers for a couple decades. Couldn't find their asses with both hands, a Sherpa guide and a GPS. They also suffered union labor problems leading to a strike at one point. QC slipped BADLY in the late 1970s and 1980s. They didn't keep up (bad management again) with market trends and just conceded the handgun market.
Sorry state of affairs.
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