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RAMONA, Calif. (KGTV) — Two people were killed and a third person was seriously hurt in a head-on collision in Ramona on Wednesday.CHP said at about 12:15 p.m., a 56-year-old woman was driving a 2016 Ford Focus northbound on Mussey Grade Road, south of Mahogany Ranch Rd., at a high rate of speed. At the same time, an unidentified woman was driving a 2017 Subaru Impreza southbound on the same road.For reasons that are unclear, CHP said the driver of the Focus lost control of her vehicle and veered into the opposite lane, colliding head-on with the Impreza.The driver of the Focus and a male passenger in the Impreza died at the scene, CHP said. The driver of the Subaru was taken to Palomar Medical Center with major injuries.CHP says they believe both occupants in the Subaru were wearing a seat belt, but the driver of the Ford was not at the time of the crash.It's unclear whether alcohol or drugs played a factor in the crash. 943

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

Prison inmate Rick Wershe, known to many as “White Boy Rick,” was set free on Monday just after 10:30 a.m. in Florida for the first time as an adult. His story begins with time spent as a teenage FBI informant, then later serving more than 30 years behind bars for a nonviolent drug offense.On Monday, he walked out of a Florida halfway house as a free man. His fiancée picked him up in Florida and confirmed he was released. 433

President Donald Trump warned Russia on Wednesday that it should "get ready" for a missile strike on Syria, vowing to thwart any missile defenses."Russia vows to shoot down any and all missiles fired at Syria. Get ready Russia, because they will be coming, nice and new and 'smart!'," Trump wrote. "You shouldn't be partners with a Gas Killing Animal who kills his people and enjoys it!"Trump has been weighing his course of action in Syria following a suspected chemical attack in the country. Trump described the attack as "sick" and criticized Russian President Vladimir Putin and Iran for supporting Syrian President Bashar al-Assad. Trump threatened that there would be a "big price to pay" for the deaths. 719

President Donald Trump seemed to float a new idea about border control during a tax reform roundtable in Ohio.The President was in the midst of criticizing Democrats during a riff about border security when he slipped in the idea that people might "have to think about closing up the country.""They don't want the wall, but we're going to get the wall, even if we have to think about closing up the country for a while," Trump said. "We're going to get the wall. We have no choice. We have absolutely no choice. And we're going to get tremendous security in our country."Trump then mentioned the notion a second time, saying, "And we may have to close up our country to get this straight, because we either have a country or we don't. And you can't allow people to pour into our country the way they're doing." 818