Gunmaker Remington to file for bankruptcy

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U.S. firearm manufacturer, Remington Outdoor Company, said it will file for Chapter 11 bankruptcy protection, but stay in business throughout the process.

“Difficult industry conditions make today’s agreement prudent,” said Jim Geisler, Remington’s executive chairman, in a statement released by the company on Monday.

The company has been dogged by falling sales after one of its rifles was used in the Sandy Hook Elementary School massacre of 2012.

The restructuring will help the company to cut its debt by around $700 million and inject $145 million in new capital into its different units. – READ MORE

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During the February 11 airing of 60 Minutes, CBS News described guns as a flyover county “security blanket” that could become coastal cities’ worst nightmare.

National reciprocity passed the House on December 6, 2017, and the CBS News warns that passage in the Senate would mandate that the carry permit of any one state be recognized in every state. They turned to Robyn Thomas, with Gabby Giffords’ gun control group, and Thomas said, “Someone who lives in Nevada, who’s able to carry a loaded, concealed weapon in Nevada could now bring that loaded gun into Los Angeles, into San Francisco, and carry their loaded weapon, even though in San Francisco that’s not someone who would get a permit.”

CBS News described guns as a “security blanket” for the hayseeds in flyover country:

In the red states that stretch from the Carolinas through the mountains of the far west. It is the political fault line of regional and cultural differences that split the country and guns are one of the triggers. They’re woven into the culture here, passed down from generation to generation in rural, remote parts of the country where dialing 911 does not always bring immediate help. To people here, whether they’re single mothers worried about robbers and rapists while driving their kids across state lines to soccer matches, or ranchers worried about rattlesnakes, guns are a security blanket of self-reliance and protection that keep them safe.READ MORE

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The Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) received 36,000 comments on proposed backdoor bump stock gun control, and 85 percent of those who commented said they opposed it.

On December 22, 2017, Breitbart News reported that the ATF was taking comment on their intention to change the definition of “machinegun” so as to include a firearm that is not a “machinegun” as well. This would allow them to use the National Firearms Act (1934) to regulate machineguns and non-machineguns in the same way, which would allow them to treat simple firearm accessories and actual firearm conversion devices the same.

Currently, bump stocks are not regulated because Barack Obama’s ATF evaluated them and noted that they do not convert the action of a semiautomatic into that of an automatic. Even with a bump stock, a semiautomatic rifle only fires one round per each pull of the trigger. The ATF seeks to circumvent this fact by changing the definition of words, thereby allowing itself to regulate conversion devices and non-conversion devices alike. – READ MORE

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