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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 28th richest person in America was there the night Oklahoma raised his taxes, and he was not happy.Some of the poorest teachers in America were also there as the lawmakers voted. And while this bill would move money from the billionaire's pockets to their own, when it passed ... they weren't happy either.They had organized on Facebook, marched on the State House and threatened to walk out of classrooms en masse. In a bright red state full of Republican fiscal hawks, their cries for higher pay were enough to force the first vote of its kind in a generation to raise taxes.But with modest new rates on fuel, cigarettes and oil production, lawmakers could only meet a fraction of their demands for a ,000 raise over three years for teachers and ,000 for support staff.For teachers, it wasn't enough. But for multibillionaire Harold Hamm, it was too much.The chairman and CEO of energy giant Continental Resources knew that any new tax on energy production would need a three-fourths' supermajority in both houses of the legislature. The presence of an oil field tycoon and member of the Oklahoma Hall of Fame might sway enough votes to kill the bill, like all the others before it.Not this time. The bill passed. The Gross Production Tax on oil and gas wells will go from 2% to 5%, though that is still the lowest in the nation.The new law will give the average teacher a ,100 raise -- but that's not enough to stop a mass walkout on April 2.Governor Mary Fallin is voicing hope that teachers will turn their protest into a one-day rally and be back in class on April 3.But if they stay out, it means this skirmish between "too much" and "not enough" has just begun.How long it lasts -- and whether it sparks another red state revolt among teachers in Arizona -- now depends on the determination of the long-suffering educators of Oklahoma, who were themselves inspired after watching the nine-day strike in West Virginia."After I saw them on CNN, I got on Facebook and I typed in 'Oklahoma walk out,'" says Alberto Morejon, a third-year history teacher and baseball coach at Stillwater Junior High."Nothing popped up and I thought 'Why not be the guy to make the group?' When I woke up the next morning, there were 21,000 members. Three weeks later there are 72,000. You don't get 70,000 new members in three weeks if there's not a problem."The Sooner State has long led the nation in the deepest cuts to education. On a list of the 50 states and Washington, DC, Oklahoma ranks 49th. In most districts, a teacher with a doctorate degree and 30 years' experience will never make more than ,000 a year."Three days after payday, I'm back to square one," Donna Rice tells me after dismissing her third graders from McKinley Elementary in Tulsa.She has a master's degree and 20 years' experience, but drives for Uber and helps cater weddings just to survive."A student once saw me waiting tables at a wedding," she says, recalling the humiliation. "I had to go to the ladies' room to compose myself. But he just said, 'Miss Ross, you really work! And you work a lot of places, don't you? You must be rich!' And I said, 'I sure am,'" she laughs.At Union Junior High, Michael Turner, a former Marine and special education teacher, shows me the pay stub that brings him less than ,200 a month.He's one of the 2,000 emergency teachers hired without complete credentials to fill classrooms abandoned by educators who found more generous paydays in other states or other careers. Without certification, they make even less than colleagues, and Turner relies on a church food pantry to eat."I've helped at food banks, have helped deliver food," he says, standing in the gym with a folder full of overdue bills. "I honestly never thought I would be on the receiving end."I met math teachers who mow lawns in Inola and heard tales of professors who sell blood in Broken Arrow, but teachers aren't the only frustrated public servants in Oklahoma.State troopers have been told to ration gasoline, social programs are strapped and prisons are overcrowded to dangerous levels.To fix these problems and give teachers the ,000 raise they want, the state will have to tax the businesses of oilmen like Hamm even more.To give ,000 raises to librarians and security guards, buy new books, equipment and the other basic necessities of education, Oklahoma will have to raise the Gross Production Tax even higher.The GPT in South Dakota and Louisiana is more than 13%. Texas charges drillers and frackers 8%. But Harold Hamm and the Oklahoma Oil and Gas Association fought tooth and claw to keep it below the new rate of 5%."We have zero confidence today's state leaders will act any more responsibly than those of the past who enacted massive tax increases with promises to fix education and other vital services," OKOGA President Chad Warmington said in a statement. The group declined an interview request from CNN."It's almost like the oil and gas people have more say than the people that actually voted (lawmakers) in," Alberto Morejon says as we stroll his campus in Stillwater. He thinks the teachers will stay out indefinitely and that principals, superintendents and parents will support them."Because it shouldn't be a struggle to fund education. Every time they cut the Gross Production Tax, it's almost like they're saying oil is more important than our kids." 5415

Texas students will return to public schools in person this fall, Gov. Greg Abbott told state lawmakers Thursday morning.The state's top education officials confirmed the plans in a statement to The Texas Tribune."It will be safe for Texas public school students, teachers, and staff to return to school campuses for in-person instruction this fall. But there will also be flexibility for families with health concerns so that their children can be educated remotely if the parent so chooses," said Texas Education Commissioner Mike Morath.When students return, school districts will not be required to mandate students to wear masks or test them for COVID-19 symptoms, said Frank Ward, a spokesperson for the Texas Education Agency.The TEA is expected to release additional guidance for school districts next Tuesday. Abbott has long said his intention is for students to return in-person this fall, saying this week that there will "definitely be higher safety standards in place than when they opened last year.""I will tell you that my goal is to see students back in classrooms in seats interacting personally with teachers as well as other students," he told KLBK TV in Lubbock on Monday. "This is a very important environmental setting for both the students, for the teachers and for the parents.”Abbott has pressed forward with reopening businesses and other public spaces for weeks, even as the number of new cases and people hospitalized with the virus has continued to rise. Democrats and officials in some of the state's biggest cities have raised alarm about the pace, saying it's putting people's health at risk."Abbott’s failed leadership has cost lives and has led to Texas becoming one of the most dangerous states to live in during this pandemic," said Texas Democratic Party Communications Director Abhi Rahman in a statement Thursday.According to state lawmakers on the 11 a.m. call, school districts will be able to also offer instructional alternatives for students. The decision comes as COVID-19 cases and hospitalizations continue to rise statewide, and local officials begin to put firmer restrictions in place to tamp down the spread in their cities and counties.National surveys have shown many parents do not feel safe sending their students back to the classrooms, with one poll showing two-thirds in support of keeping schools closed until the pandemic's health risk has passed.School districts' surveys of parents are showing that many students will stay home, even when the classrooms are open. That could pose a financial risk to districts, which receive state funding based on student attendance. Already, many districts are planning for hybrid programs, with some students learning virtually and some learning in person, allowing them to keep class sizes small.This year, Texas used federal stimulus dollars to fund school districts through this year's mandated school closures, as long as they offered some type of remote education. But state officials have not yet said whether they will continue to fund them for students who do not show up in person in the fall.With budget deadlines approaching at the end of the month, some districts are making tentative plans without clear state guidance. Fort Bend Independent School District announced earlier this week that its elementary and middle school students will return to their classrooms with adjusted schedules in the fall.District officials are working to develop a plan for older students that combines virtual classes and classroom instruction. Online instruction will be an option for any student who doesn't feel safe returning to the classroom in mid-August.KXXV's Aliyya Swaby and Cassandra Pollock first reported this story. 3731

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

Sumner Redstone, who built a media empire from his family’s drive-in movie chain, has died. He was 97. Redstone built his operations through aggressive acquisitions, but many headlines with his name focused on his severing ties with wives, actors and executives. In multiple interviews, he said he’d never die.His tight-fisted grip on the National Amusements theater chain, which controls both CBS Corp. and Viacom Inc. through voting stock, has been passed down to his daughter Shari Redstone, who battled top executives to re-merge the two entities that split in 2006. 578

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