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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 Barcelona Nut Company in Baltimore, Maryland is recalling 239 cases of roasted and salted in-shell pistachios.The nuts may be contaminated with salmonella. They were distributed in several states, including: Washington, D.C., Maryland, Pennsylvania, Delaware, New York, California, Virginia, Ohio, New Jersey, and Georgia.The pistachios are Barcelona Nut Company brand, packaged in Red White and Blue window plastic film, and come in sizes:2.75 oz., UPC 030239130001 with expiration date 9/18/2019 514

Tesla on Thursday recalled about 123,000 Model S sedans, asking customers with cars built before April of 2016 to have their power steering bolts replaced.A Tesla spokesperson said the company has observed "excessive corrosion" of the part in some cold climates where a certain type of road salt is used.No injuries or accidents have been reported in connection with the issue, the spokesperson said.A Tesla spokesperson said that if the bolts fail, the driver should still be able to control the vehicle. The issue can make the car more difficult to steer at low speeds and to parallel park, and it should "not materially affect control at high speed."The company sent out emails to Model S owners who have cars included in the recall.The Model S has been lauded for its safety ratings, but news of this recall comes at a rough time for Tesla.Its stock price has plunged more than 25% over the past month. Investors are worried about the startup's ability to deliver on its first mass-market car, the Model 3, which has been plagued by manufacturing woes.Tesla's stock sank nearly 4% during after-hours trading Thursday after news broke about the Model S recall.The-CNN-Wire 1183
Thanks for coming out this weekend y’all! Yesterday we added 1,372 ?@MillerLites? to my tab, bringing our grand total to 4,838. Shout out to all the bars, their staff, and those cheers-ing from afar! Whether this is goodbye or see you next year, I love you Chicago! #JonsTab pic.twitter.com/OTEIO2gOjc— Jon Lester (@JLester34) November 2, 2020 351
Summer driving will be more expensive this year. Thanks, OPEC.Prices at the pump are likely to be 14% higher than last summer — an average of .74 per gallon, the US government estimated on Tuesday.The price of oil has climbed because of efforts by OPEC and Russia. Brent crude, the global benchmark, surged 3.5% on Tuesday to .04 a barrel, the highest since late 2014. That's already above the EIA forecast of for this summer, suggesting gas prices could go even higher. Brent crude averaged just last summer.Summer driving season, which the EIA considers April through September, is historically when demand peaks for gasoline as Americans go on vacation. The EIA expects highway travel to increase 1.3% over last summer.Although gas is well below the a gallon prices of 2008, it has risen because of the recovery in the oil markets. The average gallon of gasoline fetched .66 on Tuesday, according to AAA. That's up from .39 last year, just as summer driving season was beginning.Of course, those are just national averages. West Coast states are grappling with more pain at the pump.Drivers in California, Oregon, Nevada, Washington State, Hawaii and Alaska already pay more than per gallon, according to AAA. California's average gas price has jumped to .52, compared with .99 a year ago.After crashing to just a barrel in early 2016, crude oil has more than doubled in price. Supply in the United States is very strong. Production of crude recently hit record high because of the shale oil boom.But foreign oil supply is down, largely because of OPEC's efforts to boost prices by curbing production. Saudi Arabia-led OPEC and Russia reached an agreement in late 2016 to pump less oil. OPEC and its allies agreed last November to extend the cuts through the end of 2018.The production cuts are designed to reduce the global oil glut — and they appear to be working, judging by the recovery in prices and decline in stockpiles.Saudi Arabia decided last year to slash shipments of oil to the United States, the market watched most closely by oil traders. American imports of Saudi crude declined 14% last year to the lowest since 1988, according to the EIA.At the same time, the United States is shipping record amounts of oil overseas?since Congress lifted a ban on most exports in 2015. US oil exports have nearly quadrupled since then. 2409
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