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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

SUN CITY CENTER, Fla. — A Hillsborough County grandmother is exclusively telling Scripps station WFTS in Tampa about her incredible story of survival. "It was just shocking my whole entire insides, like my whole entire body," said JoAnne Cyr. Cyr was draining water outside the back patio of her Sun City Center home when Tuesday's storms rolled in.  373

TEMPLE, TX — The body of a missing Fort Hood soldier is believed to have been found along railroad tracks in Temple, Texas.The Temple Police Department says around 5:36 p.m. on Tuesday, a call was received in reference to a medical call along railroad tracks.A caller advised that a man was observed near the railroad tracks. When officers arrived, it was determined the man had been dead for some period of time.Identification found at the scene indicates the victim may be missing Fort Hood soldier 23-year-old Elder Fernandes. However, no forensic confirmation has been made at this time.Sgt. Fernandes was last seen on Monday, August 17 and reported missing on Wednesday, August 19.Temple PD says at this stage of the investigation, there is no indication of foul play. The investigation is ongoing.Justice of the Peace Ted Duffield has ordered an autopsy, and next of kin has been notified."Our thoughts and prayers are with the Fernandes family during this challenging time," Temple Police Chief Shawn Reynolds said.Temple PD is the lead agency in the death investigation. The department is working in conjunction with Fort Hood and Killeen Police Department Criminal Investigations Divisions. Temple Fire & Rescue also responded to the scene.This article was written by Sydney Isenberg for KXXV. 1314

Steve Wynn will not be getting severance pay following his resignation from Wynn Resorts earlier this month.RELATED: Las Vegas police receive two reports of sexual misconduct by Steve WynnAccording to a document filed Feb. 15 with the U.S. Securities and Exchange Commission and signed by new Wynn Resorts CEO Matthew Maddox, Wynn will not receive any other compensation. He also cannot compete against the company for two years.The separation agreement also notes that Wynn must leave his residence at Wynn Las Vegas by June 1 and pay fair market rent until that date. Wynn can terminate the lease before that date. Wnny wll also cease to have administrative support after May 31 and health insurance through the company after Dec. 31, according to the document. Wynn's employment with Wynn Resorts began on Oct. 4, 2002 and ended on Feb. 6, 2018. He resigned following allegations of sexual misconduct. The document also acknowledges that Wynn agrees to cooperate with Wynn Resorts Board of Directors investigation into his time at the company. The board announced prior to his resignation that they were looking into the allegations.  1165

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