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President Donald Trump says he has asked the SEC to study whether to stop requiring companies to report quarterly earnings.In speaking to business leaders, one told him a twice-a-year reporting system would allow companies the flexibility and cost savings companies need to "Make business (jobs) even better in the U.S." Trump tweeted Friday morning. Trump said he directed the SEC to look into a change in its requirements.Public companies must report their sales, profits and the state of the company's balance sheet every quarter. That has been required since the Securities Exchange Act of 1934, which was put in place to give more confidence and transparency to investors in the wake of the 1929 stock market crash. That act also created the SEC, which sets the regulations which govern those quarterly reports.Businesses have long complained that the reports require company executives to focus too much on the short term. Juicing numbers impresses investors, but it can force companies to miss out on long term trends. One of the reasons Tesla CEO Elon Musk wants to take his company private, he told his employees last week, was the way quarterly reports distort decisions at the company.President Barack Obama has also criticized quarterly reports.Speaking to the New York Review of Books in 2015, Obama said that he had talked to a large number of businesses executives who told him, "Because they've got quarterly reports to shareholders and if they've made a long-term investment that may pay off way down the line, or if they're paying their employees more now because they think it's going to help them retain high-quality employees, a lot of times they feel like they're going to get punished in the stock market. And so they don't do it, because the definition of being a successful business is narrowed to what your quarterly earnings reports are."Shareholders, however, use the quarterly earnings reports as a guide to the quality and health of their investments. Without quarterly financial reports, investors could be blind to important risk factors that could damage their portfolios.The president has run privately-held companies that didn't have to report results at all during most of his time in business,The European Commission, among others, only requires semi-annual financial reports of companies there, although major European companies whose stock is traded in both the United States and Europe will report on a quarterly basis in order to comply with SEC regulations.The-CNN-Wire 2519

President Donald Trump thanked San Diego County for their decision to support the federal lawsuit over California’s “sanctuary” laws.Trump tweeted Thursday morning: “Thank you San Diego County for defending the rule of law and supporting our lawsuit against California's illegal and unconstitutional 'Sanctuary' policies. California's dangerous policies release violent criminals back into our communities, putting all Americans at risk.” 446

President Donald Trump tweeted Monday evening that he would "never concede" despite a decision from an official in his administration that recognized president-elect Joe Biden's victory in the 2020 election."What does GSA being allowed to preliminarily work with the Dems have to do with continuing to pursue our various cases on what will go down as the most corrupt election in American political history?" Trump tweeted. "We are moving full speed ahead."Trump's statement also included references to "fake ballots" — a claim his legal team has not been able to prove — and a debunked conspiracy theory about ballot software, prompting Twitter to place a warning label on the tweet that provided users more information about the realities of voter fraud. 764

Renee Montgomery and the @RMFnonprofit hosted a pop-up #Juneteenth block party and handed out meals to the community in downtown Atlanta today ? pic.twitter.com/YeGGMdFVWG— Atlanta Dream (@AtlantaDream) June 20, 2020 224

RANCHO SANTA FE, Calif. (KGTV) — The Fairbanks Ranch Country Club is an oasis along an otherwise remote stretch of road that winds away from Del Mar.But for a number of female employees working inside its clubhouse, it was something much darker.A new lawsuit filed by the Federal Equal Employment Opportunity Commission alleges that around 2016, former manager Shant Karian sexually harassed a number of the workers, with financial consequences if they didn't play along.For one of the workers, the suit says Karian repeatedly made sexual advances, hitting her buttocks, putting his arm around her waste and choking her, and repeatedly pursuing her sexually. He told another to wear a tighter blouse, and sent one text messages asking to see her backside, the suit says.RELATED: Carmel Mountain Ranch residents raise concerns over golf course closureKarian also allegedly told male customers one worker could give them lap dances.The lawsuit says Karian made the schedule, and those who didn't comply were subject to lower pay rates, reduced hours, and threatened with termination.Karian did not return a call seeking comment.Annie Appel, a spokeswoman for club owner The Bay Club Company, says Fairbanks Ranch terminated Karian for cause after an internal investigation in October 2016 after an internal investigation."The Bay Club Company is aware of the EEOC’s allegations and will respond in a timely manner to the claims made in the complaint," Appel said. "TBCC is committed to a safe, harassment-free work environment for everyone."Anna Park, an attorney for the EEOC, said sexual harassment in the workplace continues to be an issue nationwide."The power differential is really what is the problem in these harassment cases," she said. "This way the burden is on the employer to make sure the employees know where to go."The lawsuit says Fairbanks Ranch didn't take action to help the employees, even deterring them from making complaints. 1960