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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 told reporters Friday he remains open to holding a summit with North Korea's Kim Jong Un on June 12.The President said lines of communication had opened between the two countries after officials said Thursday that the North Koreans had become unresponsive, leading to the planned summit's cancellation."We're going to see what happens. We're talking to them now. It was a very nice statement they put out," Trump said on the South Lawn before departing in his helicopter for the US Naval Academy in Maryland, where he is delivering a commencement address."We'll see what happens. It could even be the 12th. We're talking to them now," he said. "They very much want to do it. We'd like to do it."Asked whether the North Koreans were playing games, Trump acknowledged they were -- and suggested he was too."Everybody plays games. You know that," he told reporters when asked about the ongoing talks. "You know that better than anybody."Earlier Friday morning, Trump also hailed North Korea's statement that its leader, Kim Jong Un, is still willing to meet Trump "at any time" despite the President's cancellation of an historic summit between the two leaders."Very good news to receive the warm and productive statement from North Korea," Trump wrote Friday morning on Twitter. "We will soon see where it will lead, hopefully to long and enduring prosperity and peace. Only time (and talent) will tell!"Kim Kye Gwan, a top official at North Korea's Foreign Ministry, said Trump's decision to cancel the talks, which were scheduled for June 12 in Singapore, ran counter to the global community's wishes for peace on the Korean Peninsula."We would like to make known to the US side once again that we have the intent to sit with the US side to solve problem(s) regardless of ways at any time," said Kim in comments published Friday by the country's state-run news agency KCNA. Kim also said Trump's decision was "not consistent with the desire of humankind for peace and stability in the world, to say nothing of those in the Korean Peninsula."Minutes before his Friday morning tweet, Trump claimed Democrats were "rooting" against his administration in its negotiations with North Korea."Democrats are so obviously rooting against us in our negotiations with North Korea," the President wrote on Twitter. "Just like they are coming to the defense of MS 13 thugs, saying that they are individuals & must be nurtured, or asking to end your big Tax Cuts & raise your taxes instead. Dems have lost touch!"Trump announced his decision to scrap the June summit in a letter Thursday that read "I feel it is inappropriate, at this time, to have this long-planned meeting" following antagonistic rhetoric from Pyongyang.After the news the summit was called off, Democrats criticized Trump for the decision.House Minority Leader Nancy Pelosi told reporters Thursday on Capitol Hill that the canceled summit was "a good thing for Kim Jong Un."Pelosi said the meeting "takes preparation, this takes knowledge, this takes judgment, and clearly it takes preparation, which the President didn't make.""It's clear he didn't know what he was getting into," the California Democrat said. "And now he's walking away from it in this very chummy, palsy-walsy letter to Kim Jong-un. He, Kim Jong-un, is the big winner."She added, "And when (Kim) got this letter from the President saying, 'Okay, nevermind,' he must be having a giggle fit right there now in North Korea."Democratic Sen. Ben Cardin of Maryland called Trump's decision "puzzling" in an interview on CNN's "New Day" Friday morning."I think everyone understands that the only way to resolve this is through diplomacy," Cardin said. "There is no military option without extreme risks, so it's puzzling that the President has now thrown diplomacy off track."Cardin, who sits on the Senate Foreign Relations Committee, knocked accusations that Democrats want Trump to fail, saying "we certainly want the President to succeed.""We want to make sure that when a summit takes place, and we hope it will, that it will be properly prepared and we can have a favorable outcome," Cardin said.Republicans, however, hailed the President's action as a tough negotiating move.Echoing the President, former White House communications director Anthony Scaramucci accused Democrats of "supporting" Kim.During an interview on "Fox and Friends" on Friday, Scaramucci said the "bluntness and steely backbone" that the President has displayed in deal-making is "something that these guys don't like, which I find very ironic.""It's almost like they are supporting -- they support MS 13, Hamas and now they're supporting the Chairman, Chairman Kim," he said.Republican Sen. Lindsey Graham said in an interview on the same program Friday morning, "Everybody who is criticizing the President regarding the letter, how well did you do in North Korea?'" He added that he thought the letter was the "right decision."Graham said he believes Trump will be able to achieve the denuclearization of North Korea within his first term."It's not 'if' he ends the North Korean program, it's 'how and when,'" Graham said. "There's two ways: Diplomacy to be a win, win, which is the preferred route; military conflict that will destroy the regime. When: I think he is going to do this in his first term."According to Graham, Trump said he's "not going to pass this on to anybody else."A former critic of Trump during the campaign, Graham added, "He thinks he is going to get reelected. So do I."The South Carolina Republican also told Fox News that the next step for Trump is to reprimand China for seemingly undercutting US diplomatic efforts with North Korea after a meeting Kim had in early May with Chinese President Xi Jinping."He's going to go back to China, I think, read them the riot act. 'If you want a peaceful solution to the North Korean problem, help me. If you keep playing this game we have played for 30 years, there is going to be a war in your backyard, not ours, and North Korea is going to lose,'" Graham said.Graham said he hopes "through diplomacy there would be no nuclear North Korea."But, "if there is going to be a war, it's going to end badly for North Korea," he said.The-CNN-Wire 6249

Public transit across the country has seen a roller coaster of ridership since the pandemic first hit. Now, it looks to the future and the hope that riders return."A lot of medical workers ride transit every day, people who work in distribution centers, grocery stores, these are people who keep cities running, and we really need transit to carry these workers through the depths of this pandemic," said Ben Fried of Transit Center, a non-profit that advocates for better public transportation in American cities.Fried says public transit nationwide has seen fewer riders than normal ever since stay-at-home orders were first enacted."We have seen transit climb back a little bit in terms of ridership. At the peak, it was down 90-95%. Now, depending on the system, it's typically down about 75% of normal rates," Fried said."(We've seen) a significant decrease. We normally carry 400,000 riders a day. We saw that drop to 100,000 early on," said Terry White, the Interim General Manager of King County Metro in Seattle.White said King County had to cut unused bus routes and then add service to the southern region of the county, which still saw a high number of passengers during the height of the pandemic."(We) almost didn't miss a beat in terms of the ridership coming out of that area," White said. "So, we assume there are a lot of folks in those areas that have to get to these essential services, food, healthcare, frontline jobs you can't do from home."While public transportation departments across the country reorganize their transit routes and implement new safety, cleaning and social distancing efforts on buses and subway cars, they're concerned about how the future of public transit will look. Fried hopes more people realize public transportation is still safe during the pandemic.Fried pointed to New York City as an example."Transit ridership has really increased a lot since the depths of the pandemic," Fried said. "We're not back to normal by any means, but as transit ridership has increased, we have not seen a spike in COVID cases. So, that's one indication transit may be safer than people think it is."Still, the overall decline in ridership isn't good for public transportation agencies' bottom lines."Transit agencies depend on revenue from a variety of sources," Fried said. "It's a mix of fare revenue, dedicated taxes, so like a local sales tax, a percentage of which will go to transit, and state and local government support and all three of these are getting hammered various degrees from COVID."In Seattle, King County Metro depends on local sales tax and money made from bus and subway fares to keep them going."Really, our outlook for the next 10 years in this COVID pandemic situation has us in a situation where we will have to make up probably about billion over the next ten-year period," White said.Recently, King County Metro laid off 200 part-time employees while also offering early retirement incentives to some full-time workers, despite receiving a good chunk of money from the CARES Act. Fried is advocating for more federal help to keep public transit moving.As the pandemic moves forward, Fried hopes passengers start to get comfortable with using public transportation again."I think the number one thing to realize is that our collective health and safety is dependent on people wearing masks," he said. "It's true in shared space, and it's true in transit."Fried hopes ridership in the U.S. can get back to normal levels soon, but King County Metro doesn't think that will happen anytime soon. 3563

RANDALLSTOWN, Md. -- A 5-month-old boy was sent to an intensive care unit at The John Hopkins Hospital after enduring the kind of attack that many grown adults have not.The attack on Garrison Bailey Borkoski happened just after 1 a.m. Saturday as he and his mother slept in a house on Chapman Road in Randallstown, Maryland.“That adult, at some point and time, got up and went to the bathroom and that’s when the 5-month-old was bitten by a dog in the house, a pit bull,” said Det. Robert Reason of the Baltimore County Police Department. “There were actually several pit bulls in the home at the time this occurred.”There were four pit bulls in the home, which the owner would later tell police have no cages and typically have their roam of the interior of the house.Both mother and child had only moved in a week or two earlier.“There are no charges pending right now,” said Reason. “Based on the investigation, there is no indication that anybody had any intent to cause harm to the child at all, so there are no charges pending right now.”In the aftermath of the attack, paramedics found the baby covered in blood and motionless, but still breathing.It was later determined that Garrison had suffered a large laceration to the top of his head and lacerations to his neck, as well as puncture wounds to the rest of his body, but miraculously, just fours days after the attack, doctors released him from the hospital.“Right now, fortunately, the 5-month-old is home and recovering and doing well, so we’re very, very happy about that,” said Reason.According to the Baltimore County Department of Health, the owners surrendered the four pit bulls, allowing them to be euthanized, but it was later determined only two of the dogs had actually attacked the child.The other two were returned to the owners.This story was originally published by Jeff Hager at WMAR. 1871

Protests in response to the death of Stephon Clark, a 22-year-old who was shot and killed by Sacramento Police on Sunday after officers confused his cellphone for a gun, caused major disruptions in Sacramento on Thursday. Most fans were unable to enter the Sacramento Kings' NBA match against the Atlanta Hawks despite a delay in the game. Protesters locked arms around the arena's gates, prohibiting fans from reaching the doors. As the game tipped off Thursday evening, only the first few rows of seats were full in the arena that seats nearly 20,000 fans. "Tonight's game began with a delay," the Kings said in a statement. "Due to law enforcement being unable to ensure ticketed fans could safely enter the arena, the arena remains closed and we ask fans outside to travel home. We will issue further information soon regarding a refund."Some fans left the area outside the arena disappointed. "I"m very disappointed," Fermin Rodriguez told the Sacramento Bee, as he was planning on seeing the game with his wife and four children. "I mean I feel their pain, but why do we have to suffer as well? We paid a lot of money for these tickets. I hope they give us a refund."Protesters also disrupted rush hour traffic earlier in the evening by standing in the middle of Interstate 5 before police cleared the hundreds of protesters off the freeway. Captain Norm Leong of the Sacramento Police Department confirmed on Twitter late Thursday that no one has been arrested in connection to Thursday's demonstration. The protests were sparked hours after Sacramento Police released helicopter and bodycam video of Sunday's incident. It showed Clark running through several yards before being confronted behind his grandmother's door. In the video, police could be heard telling him to put his hands up. Within seconds, officers fired 20 rounds at Clark, killing him. "Prior to the shooting, the involved officers saw the suspect facing them, advance forward with his arms extended, and holding an object in his hands," Sacramento Police said in a statement. "At the time of the shooting, the officers believed the suspect was pointing a firearm at them. After an exhaustive search, scene investigators did not locate any firearms. The only item found near the suspect was a cell phone."Police were originally called to the scene over someone breaking into cars.  2434

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