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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-elect Joe Biden had a stark warning if there is not collaboration on national efforts to combat the coronavirus."More people may die if we don’t coordinate," President-elect Biden said Monday during remarks from Wilmington, Delaware. He urged a coordination effort not only between administrations, but also with Congress, business owners, educators, and governors. "We are at war with the coronavirus," Biden said. President Donald Trump has not conceded the presidential election, and his administration has not formally signed an ascertainment that would allow the incoming Biden administration access to intelligence briefings and department leaders, including the coronavirus team, and funding for transition efforts. Biden and Vice President-elect Kamala Harris spoke about the economy, and their strategy to "hit the ground running" in January when they are sworn in. Biden shared his frustration that President Trump and Congress has not passed more relief as Americans struggle, referencing long-term unemployment numbers and rising evictions. Harris said they had spent Monday talking to business owners representing leaders from corporations, small businesses, and those in between."The road ahead, it will not be easy. But the president elect and I are hitting the ground running," Harris said.She also addressed the disparities in how the coronavirus pandemic is effecting communities of color."Last month, the unemployment rate of Black Americans was almost twice those of others," Harris said, adding that Native Americans were four times more likely to be hospitalized with the coronavirus.Biden repeated proposed policies that would increase the corporate tax and increase taxes for the wealthiest Americans while keeping the tax rate for the middle-class consistent. He's also called for more COVID-19 stimulus and more widespread use of the Defense Production Act in order to create jobs while producing more personal protective equipment."There’s so much we can do, and we can’t do any of this without working together," Biden said. He also urged Congress to pass coronavirus relief funds. Biden's address comes as millions of Americans remained unemployed due to the COVID-19 pandemic. Earlier this month, the Labor Department reported better than expected unemployment numbers from October through the unemployment rate remains at just under 7%.Prior to the pandemic, the last time unemployment was as high as 7% was about six years ago, as the country continued to recover from the Great Recession.Biden's comments also come as the stock market has jumped on encouraging news of a potential COVID-19 vaccine. Following Moderna's Monday announcement that its vaccine candidate has been 95% effective in Phase 3 trials, the Dow jumped more than 400 points for an increase of about 1.5%.Despite historic losses in February and March, the Dow remains in the black from the beginning of 2020.Biden also shared that he and his wife Dr. Jill Biden spent the morning deciding who they would spend Thanksgiving with. Saying they were encouraged by health experts to limit their gathering to a maximum of ten people, while still wearing masks and social distancing. 3196

Prince Philip, the 96-year-old husband of Britain's Queen Elizabeth II, has been admitted to a London hospital, a royal spokesman said in a statement Tuesday.The Duke of Edinburgh will undergo planned surgery on his hip at King Edward VII Hospital on Wednesday.On Sunday, the Duke was absent from an Easter service attended by the Queen and other members of the royal family at St. George's Chapel in Windsor, also the venue for Prince Harry and Meghan Markle's wedding on May 19.Last June, Prince Philip spent two nights in hospital as a "precautionary measure" for the treatment of an undisclosed infection.In August 2017, the Duke retired from 65 years of public service, more than five years after the Palace originally said he would gradually "wind down" his workload, though he remained keen to carry out many of his duties.Queen Elizabeth, 91, has also begun to scale back her duties due to her advancing age, handing over some of her responsibilities to her heir, Prince Charles.The British monarch and her husband celebrated their 70th wedding anniversary last November.The royal couple were married on November 20, 1947 when they were still Princess Elizabeth and Lieutenant Philip Mountbatten, at Westminster Abbey.Prince Philip is the longest-serving consort in British history.  1304

Ray Szmanda, known to generations of Americans as the man who brought Menards commercials to life, has died at age 91.Szmanda passed away at his home in Antigo on Sunday, May 6, according to an obituary posted to Bradley Funeral Home & Crematory's website.Szmanda worked in T.V. and radio in the 1950s and operated a broadcast school in Waukesha, Wisconsin until the late 1970s, when he joined Menards as a pitchman. After a successful run, Szmanda retired as the spokesman in 1998.Menards released a statement about the loss of their beloved spokesman:"Ray Szmanda remained a steady fixture in our advertising for nearly a quarter century  until his retirement in 1998.  Still to this day, Ray’s friendly, enthusiastic and fun loving personality have made a lasting impression on our customers and all of us at Menards. We are saddened by his passing and our thoughts and prayers are with Ray’s family, friends and the millions of people who knew him as ‘The Menards Guy.'"His countless commercial appearances over the decades, as well as his distinctive voice, endeared Szmanda to many across the years."I'm having a ball; I love what I do, and I think as long as I feel that way, that message gets across on television," Szmanda once said, according to his official biography on the Menards website.Szmanda graduated from Milwaukee's Bay View High School in 1944. In 1970 he founded the Transamerica School of Broadcasting in Wausau, helping local talent to achieve their dreams, and preparing them for the airwaves. Szmanda also performed as a drummer and vocalist in Wisconsin clubs.Additionally, Szmanda served his country in the Navy in WWII. 1707

RAMONA, Calif. (KGTV) – It was a nightly ritual. Steve Faught would put his dog, Riley, in his old Ford pickup and take him to a nearby baseball field to play fetch.  On his way Thursday night, he stopped by Stage Stop Liquor and Gas to pick up a six-pack of beer. But he never made it to the field. Faught was found at the gas station with a major injury to his neck, according to the San Diego Sheriff’s Department. He was airlifted to a hospital for surgery but did not survive. His older brother, Jerry Faught, described him as funny, with a warm personality. “To him, life was a good place,” he said. “He was just the kind of person you’d like to know.” Faught heard the news from Steve’s wife, who called him at his home in Portland. His older brother instincts kicked in. “I couldn’t help him. I couldn’t save him. That’s hard,” he said. Homicide detectives are trying to piece together what happened and what led up to the altercation, but as of Friday morning they had not been able to locate any witnesses or surveillance video. The suspect, 26-year old Jarrett Wishnick, has been arrested for murder. 1169