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The bankruptcy filing allows Remington to stay in business while restructuring its massive debt. The company has been planning to reduce its debt by 0 million through the Chapter 11 process and contribute 5 million to its subsidiaries.Remington plans to keep on making guns. The company said, when it first announced its plan to file for bankruptcy in February, that operations "will not be disrupted by the restructuring process."Founded in 1816, Remington is one of the oldest and best-known gun makers in the world. It's owned by Cerberus Capital Management, which plans to shed ownership once the bankruptcy is complete.Remington is headquartered in North Carolina. It makes a variety of handguns, shotguns and rifles at its sprawling 19th-century factory in Ilion, N.Y.Its products include the Bushmaster AR-15-style rifle that was used in the 2012 mass shooting in Newtown, Connecticut. The company has been sued by family members of the Sandy Hook victims.An attorney from the law firm representing those family members said it does not expect the bankruptcy filing to affect its clients' case "in any material way."The company also settled a class action lawsuit a few years ago regarding allegations of defective rifles.The gun industry as a whole has suffered plunging sales and profits under the Trump administration, because consumers are no longer driven by fears of more restrictive gun control with a Republican in the White House who's been endorsed by the National Rifle AssociationAmerican Outdoor Brands, which owns the brand Smith & Wesson, reported dismal earnings earlier this month as did Sturm Ruger in February, and they've laid off hundreds of workers.  1702

The "box office" is now open for George Balanchine's The Nutcracker?, streaming on @MarqueeArtsTV Dec 11 - Jan 3. Get your ticket to our quintessential holiday ballet today: https://t.co/quqc3HQl1y pic.twitter.com/Byg7YdTmTK— nycballet (@nycballet) November 27, 2020 274

Stocks fell sharply Monday, dragged down by reports that Apple's newest line of phones may not be selling as well as Apple or its investors had hoped.The Dow fell 450 points and the Nasdaq tumbled 2.8%.Apple's stock fell once more after the Wall Street Journal reported that Apple has cut orders for its iPhone XR, iPhone XS and iPhone XS Max.The new iPhones, which Apple unveiled in September, cost more than previous versions. The 9 iPhone XR is the least expensive new iPhone, but it costs more than last year's cheapest model, the iPhone 8.The iPhone XS Max can cost up to ,449. The higher prices -- without many more features -- could be driving customers to keep their current phones longer or buy last year's models.Apple declined to comment about the Journal story or broader concerns about iPhone demand.Shares of Apple fell 4% and have now plunged about 20% from the all-time high it hit a few months ago, when Apple (AAPL) was worth more than trillion.The stock ended a 5-day losing skid on Friday after an analyst at Morgan Stanley suggested that the supplier concerns are overdone.Apple, which is a member of the Dow, was hurting the blue chips too.Several makers of chips and other components used in iPhones have warned of soft sales and profit in recent weeks, citing sluggish demand for higher-end smartphones.To that end, shares of Apple suppliers, such as Qorvo (QRVO), Broadcom (AVGO), Cirrus Logic (CRUS) and even Apple's key Anrdoid phone rival Samsung were all lower Monday too. Samsung also makes chips for iPhones.Investors have other reasons to be concerned about the future of Apple -- as well as other big tech companies for that matter.Apple CEO Tim Cook said on the "Axios on HBO" show Sunday that he expects Washington to crack down on tech firms in the wake of high-profile privacy scandals, such as the Cambridge Analytica problems that have plagued Facebook (FB)."I am not a big fan of regulation," Cook said to Axios on HBO. "I'm a big believer in the free market. But we have to admit when the free market is not working. And it hasn't worked here. I think it's inevitable that there will be some level of regulation."HBO, like CNN, is part of WarnerMedia, which is owned by AT&T (T). 2244

Stocks are tanking, and the tech world's richest executives are losing billions.Amazon, Apple, Facebook and Google are getting hammered as investors sell their shares and retreat into safer territory.The founders, CEOs and top investors in those companies are losing money quickly.Amazon CEO Jeff Bezos has lost roughly billion since his net worth and peaked in early September at 8 billion, according to?the Bloomberg Billionaires Index. Amazon's stock (AMZN) has dropped more than 25% since then and is currently trading around ,500 a share, leaving Bezos with a 6 billion nest egg.It's not all bad news for him: Bezos is still the world's richest person.On Tuesday, Bezos and wife MacKenzie donated 0 million to two non profits that aim to end homelessness in America. It's part of the pair's pledge to donate? billion to fund existing nonprofits that help homeless families and to create a network of preschools in low-income communities.Facebook CEO Mark Zuckerberg's wealth is also taking a beating. He's lost roughly billionfrom his peak worth in late July and is now worth billion. He ranks as the seventh richest person in the world.Facebook has been rocked this year with a cascading series of problems, including a proliferation of hate speech on its platform, Russian political interference and the Cambridge Analytica data privacy scandal.Facebook's (FB) stock has lost 40% of its value since July and is currently trading around 0 a share. The company continues to struggle with?executive departures and damaging exposés.Like Bezos, Zuckerberg and his wife, Priscilla Chan,?have pledged 99% of their wealth to their organization for philanthropic needs. They also recently donated 4 million to another nonprofit.Microsoft founder Bill Gates, who still owns 1% of the tech company, has lost billion from his high in early October. He's still worth roughly  billion and ranks as the second richest person the world, according to Bloomberg. 2066

Talk about the ultimate "Fixer Upper."It was revealed Tuesday morning that HGTV is the new owner of 11222 Dilling St. in North Hollywood, California, also known as the iconic house used for the exterior shots of the beloved 1970s series "The Brady Bunch."David Zaslav, chief executive officer of HGTV's parent company Discovery, made the announcement during the company's second-quarter earnings call, a spokeswoman told CNN."One example of our new project for HGTV will speak to those 'Brady Bunch' fans on the call. ... You may have heard that the house from the iconic series was recently on the market in California," Zaslav said. "I'm excited to share that HGTV is the winning bidder and we'll restore the home to its 1970s glory as only HGTV can. More detail to come over the next few months, but we'll bring all the resources to bear to tell safe, fun stories with this beloved piece of American TV history." 923