The opening bid for what’s left of Colt, maker of The Gun That Won The West: $0. Of course, Siens Capital Management would assume about $125 million in debt. Bondholders would get the short haircut. Really short. It’s only an opening bid and an auction for the not-so-rampant pony is proposed for August 3. Short of a liquidation, whoever wins the bidding process will have a lot of work in front of them. A major priority, if not job one, will be producing some firearms that interest the civilian gun-buying public. Let’s say that winning bid is yours and you’re handed the keys. How would you fix Colt?