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The drop in gun sales has lead to deep job cuts at Sturm RugerOn Wednesday, the company reported a 21% sales decline for 2017. Thursday it disclosed that it has cut 700 jobs, or more than a quarter of its staff, over the last 13 months. That leaves it with 1,750 workers."When we reduced production in 2017, we had to make some difficult decisions," said CEO Chris Killoy, on a call with analysts Thursday. Many of the jobs were eliminated through attrition. The company also had 320 temporary employees a year ago who have since left the company. In January, the company needed to further reduce staff, prompting it to lay off an additional 60 workers.Gun sales have been sharply lower across the industry since President Donald Trump was elected. Fears that Hillary Clinton would win the presidency and seek tougher gun control laws drove record sales through 2016, and encouraged retailers to stock up on inventory. With the election of Trump and Republicans in control of both houses of Congress, those fears greatly abated.Killoy said that 2017 FBI background checks, which correspond roughly to purchases, fell 11%. Retailers also cut back on purchases to reduce inventory."2017 was a challenging year for the firearm industry," Killoy. But he said as a result of the job cuts, "we're better positioned to compete in 2018."There has been more talk about gun control in the week since the shooting of 17 students and staff at a Florida high school, led by many of the students and families from that school.President Trump and some Republicans, including Senator Marco Rubio of Florida, have voiced new support for some gun control measures. But it's too soon to say whether those efforts will affect gun sales.Killoy did not mention the gun control debate during his conference call, although he did express sympathy for victims of the Florida shooting."Like all Americans, we struggle with the shock and sadness of these terrible events," he said.Sturm Ruger is not the only company to report a drop in sales. Overall the industry has reported a sales decline of more than 0 million in 2017.Gun maker Remington has warned it plans to file for bankruptcy protection soon. Killoy was asked about whether Sturm Ruger would be interested in buying Remington, given that it has a strong balance sheet. Ruger's cash on hand fell by nearly million during the year, but it still has .5 million and no debt. He wouldn't rule out a deal for Remington, but wouldn't comment on it directly."We're watching that closely," he said the coming bankruptcy case. "We wish them well going through that process. With million cash on hand, it may provide some opportunities down the road." 2727

The former head of USA Gymnastics has been accused of removing documents linked to the Larry Nassar sexual abuse case from the famed Karolyi Ranch gymnastics training facility in Texas, authorities said.Steve Penny was arrested Wednesday nearly three weeks after he was indicted by a grand jury for tampering with evidence, the Walker County District Attorney's office said.He was detained after US Marshals tracked him to a cabin in Gatlinburg, Tennessee. He is being held at the Sevier County Jail while awaiting extradition to Walker County, Texas.If convicted of the third-degree felony charge, Penny could face up to 10 years in prison and up to a ,000 fine.The indictment claims Penny ordered the removal of documents from the Karolyi Ranch in Walker County, Texas with "the purpose of impairing the ongoing investigation by destroying or hiding the documents," after he learned the investigation was underway, the Walker County District Attorney's office said.Authorities claim the documents were later delivered to Penny at the USAG headquarters in Indianapolis, Indiana. The records are currently missing.The documents would have helped law enforcement investigate Nassar and would have "assisted with the investigation of other offenses that may have occurred at the Karolyi Ranch," the district attorney's office said in a statement. 1370

The Centers for Disease Control and Prevention is coming to Stark County, Ohio to investigate the area’s startling rate of teen suicides, according to the Ohio Department of Health.Federal health experts will spend two weeks here to figure out why a dozen Stark County teenagers have died by suicide since the end of summer.The CDC visit comes at the request of local and state health officials. According to the Canton Repository: 449

The crude oil crash just got worse.US oil prices plummeted nearly 7% on Tuesday to .43 a barrel. That marks the cheapest closing price since late October 2017.The latest deep selloff coincided with more mayhem on Wall Street. The Dow shed more than 600 points on Tuesday as fears about slowing earnings and economic growth deepen."In times of crises, all assets correlate," said Matt Smith, director of commodity research at ClipperData. "Crude has gotten caught up in the flight from equities."In the span of just seven weeks, crude has gone from spiking to nosediving into a bear market. Fears of a new supply glut and weakening demand have wiped out 30% of its value since hitting a four-year high of a barrel in early October.Crude has sold off by about 7% twice in the past week. The November 13 decline of 7.1% was the worst in three years.Beyond the stock market tumble, energy analysts saw few new reasons for the energy plunge."Oil traders are overwhelmed by bearish news," said Clay Seigle, managing director of oil at Genscape. "The broad selloff in equities has traders concerned about the possibility of an economic slowdown, which could reduce demand for oil products."One new development may have also helped weigh on oil prices. President Donald Trump signaled on Tuesday he won't punish Saudi Crown Prince Mohammed bin Salman for the death of Washington Post journalist Jamal Khashoggi."It could very well be that the Crown Prince had knowledge of this tragic event -- maybe he did and maybe he didn't!" Trump said in a statement. Energy traders may be interpreting the White House comments on US-Saudi ties as a sign that the kingdom won't aggressively cut oil production to support the market. Trump has repeatedly urged Saudi Arabia and OPEC not to do anything that will lift prices."If we broke with them I think your oil prices would go through the roof," Trump told reporters at the White House Tuesday.He also said he was "not going to destroy the economy of our country" over the murder of Saudi journalist and Washington Post contributor Jamal Khashoggi.OPEC is scheduled to meet next month in Vienna to weigh a potential output shift."You've got to think OPEC will be looking to make a sizable cut to try to reign in supplies and find a floor for prices here," said ClipperData's Smith.Not long ago, OPEC was under pressure to ramp up output in a bid to avoid 0 oil. Traders feared a supply shortage caused by the Trump administration's sanctions on Iran, the world's fifth biggest oil producer.However, the Trump administration took a softer approach on Iran than it initially signaled. Temporary waivers were granted to China, India and other buyers.By that point, Saudi Arabia, Russia and the United States had already ramped up output, leaving the market with a potential glut. US production has been especially strong, driven by the shale boom in the Permian Basin of West Texas. US output alone is expected to spike by 2.1 million barrels per day in 2018.At the same time, the global growth worries spooking Wall Street threatens to eat into demand. The International Energy Agency warned last week of "relatively weak" demand for oil in Europe and advanced Asian countries as well as a "slowdown" in India, Brazil and Argentina."The outlook for the global economy has deteriorated," the IEA wrote.The-CNN-Wire 3361

The Centers for Disease Control and Prevention (CDC) has issued its first guidelines for celebrating Halloween amid the COVID-19 pandemic.The CDC has listed a number of ways to celebrate the holiday and categorized them as low, moderate or high-risk activities."High risk" Halloween activities:Traditional trick-or-treatingCrowded indoor costume partiesIndoor haunted housesHayrides or tractor rides with people not in a family or who don't live together"Moderate risk" Halloween activities:One-way trick-or-treating, with bags lined up for families outdoors, and social distance maintainedCostume parties outdoors where people can remain six feet apartOpen-air, one-way, walk-through haunted forest visitsVisiting pumpkin patches or going apple picking, while maintaining social distancing, wearing masks, and using hand sanitizer"Low-risk" Halloween activities:Carving and decorating pumpkins with the family or members of a householdDecorating a house, apartment or living spaceHaving a virtual Halloween costume contestHaving a family or household Halloween movie nightFor a look at the full guidelines, visit the CDC website here.This story was originally published by Katie Morse on WKBW in Buffalo, New York. 1223