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Remington Arms files for bankruptcy for second time since 2018

A Remington shotguns display in Dallas. Photo: Justin Sullivan/Getty Images

Remington Arms Company filed for bankruptcy protection on Monday despite a recent surge in gun sales amid the coronavirus pandemic and anti-racism protests, per the Wall Street Journal.

Why it matters: The 204-year-old firm is considered America's oldest gun-maker. Its Chapter 11 filing in the U.S. Bankruptcy Court in Decatur, Alabama, marks the second time since 2018 that it's filed for bankruptcy. Remington was facing a wrongful death lawsuit from families of the 2012 Sandy Hook school shooting victims. The second bankruptcy filing was prompted by a "struggle to pay legal fees and the high interest payments on its debt," the New York Times notes.

Flashback: What happened to Remington?

Go deeper

Orion Rummler
Nov 3, 2020 - Economy & Business

FBI conducted record number of firearm checks this year

An employee at SP Firearms Unlimited in Franklin Square, New York, in August. Photo: Mike Pont/Getty Images

The FBI has processed more gun background checks in 2020 than in any other year on record, according to data the agency released Tuesday. Over 32 million guns were processed through the end of October.

The big picture: Gun sales in the U.S. spiked significantly in March when the coronavirus pandemic first began to spread in earnest across the country, per the New York Times.

Go deeper (<1 min. read)Arrow
Dion Rabouin, author of Markets
2 mins ago - Economy & Business

The Fed could be firing up economic stimulus in disguise

Federal Reserve governor Lael Brainard at a "Fed Listens" event. Photo: Eric Baradat / AFP via Getty Images.

Even as global growth expectations increase and governments pile on fiscal spending measures central bankers are quietly restarting recession-era bond-buying programs.

Driving the news: Comments Tuesday from Fed governor Lael Brainard suggest the Fed may be jumping onboard the global monetary policy rethink and restarting a program used following the 2008 global financial crisis.

Go deeper (2 min. read)Arrow
Jim VandeHei, Mike Allen
23 mins ago - Politics & Policy

Democrats' hypocrisy moment

Illustration: Eniola Odetunde/Axios. Photo: Ray Tamarra/Getty Images

Gov. Andrew Cuomo should be facing explicit calls to resign from President Biden on down, if you apply the standard that Democrats set for similar allegations against Republicans. And it's not a close call.

Why it matters: The #MeToo moment saw men in power run out of town for exploiting young women. Democrats led the charge. So the silence of so many of them seems more strange — and unacceptable by their own standards — by the hour.

Go deeper (1 min. read)Arrow