Elon Musk joins Twitter board after becoming biggest shareholder
Elon Musk has been appointed to Twitter’s board of directors, the company announced Tuesday, a day after the Tesla chief became the platform’s biggest investor despite voicing concerns about its free speech policies. “Through conversations with Elon in recent weeks, it became clear to us that he would bring great value to our Board,” Twitter’s CEO Parag Agrawal said Tuesday in a tweet. “He’s both a passionate believer and intense critic of the service which is exactly what we need on Twitter, and in the boardroom, to make us stronger in the long-term.”washingtonpost.com
Justice Department Supports the Federal Reserve Board’s Proposed Rule on Debit Card Interchange Fees and Routing to Promote Competition
Today, the Justice Department’s Antitrust Division filed a comment in support of the Federal Reserve Board of Governors’ (Board) notice of proposed rulemaking on Debit Card Interchange Fees and Routing. By introducing choice, the proposed rule has the potential to reduce merchants’ transactional costs and ultimately save consumers money. In addition, incumbent industry participants may attempt to circumvent the proposed rule. Accordingly, the department encourages the Board to actively assess additional ways the proposed rule may be enhanced to increase competition for debit payment processing. The Board is responsible for prescribing regulations pursuant to the Durbin Amendment, a statute designed to promote competition in the debit card market.justice.gov
UN-backed program trims forecast to supply COVID-19 vaccine
A public health group that manages the U.N.-backed program to ship COVID-19 vaccines to poor countries is paring back its supply forecast for this year by more than 100 million doses, largely because a key Indian manufacturer has focused on needs at homewashingtonpost.com
Did Tarrant water district directors violate open meetings law when they discussed manager?
The Tarrant Regional Water District may have violated the open meetings law by not providing clarity on why the board went into a closed door session during a special meeting, according a retired attorney who urged the board to discuss hiring a top executive in public.news.yahoo.com
State Board of Elections executive director resigns after reporting online extortion attempt
The executive director of the Illinois State Board of Elections is resigning a little more than two weeks after being put on administrative leave after he reported being the victim of an unspecified online extortion attempt, the board said on Tuesday.chicagotribune.com
Goldman Sachs CEO David Solomon gets $10 million pay cut over bank's role in 1MDB scandal
Goldman Sachs CEO David Michael Solomon attends a discussion on "Women Entrepreneurs Through Finance and Markets" at the World Bank on October 18, 2019 in Washington, DC. Goldman Sachs CEO David Solomon saw his pay slashed by just over a third for 2020 as part of a punishment for the bank's role in the 1MDB scandal. The pay cut for Solomon, which at $10 million constitutes roughly 36% of his yearly salary, reflects prior penalties imposed on the bank and not Solomon's own conduct. Solomon has been CEO of the bank since 2018. Solomon's pay package is comprised of $2 million in base salary, a $4.65 million cash bonus, and $10.85 million compensation in stock form, which is based on the bank's performance.cnbc.com
Coronavirus in Illinois updates: Here’s what happened Jan. 20 with COVID-19 in the Chicago area
As this week marks the one-year anniversary of the Centers for Disease Control and Prevention’s first confirmed coronavirus case in the United States, the CDC has a new director, Dr. Rochelle Walensky. She spoke to the Journal of the American Medical Association’s network Jan. 19 about President Joe Biden’s goal of delivering 100 million doses of COVID-19 vaccine within the first 100 days of his presidency. This was on the heels of the announcement of four new Cook County vaccination locations (available for health care workers who are part of phase 1a before opening to those eligible for phase 1b on Jan. 25).chicagotribune.com
Elliott tries to turn around a decade-long laggard with new real estate investment
The stock has underperformed storage peers by more than 300% in the last decade. The company's segments include Self-Storage Operations, Ancillary Operations, Investment in PS Business Parks, Inc. and Investment in Shurgard Europe. Activist Commentary: Although Elliott is known for their activism in the technology sector, they have been successful activists in many sectors. Elliott has made a substantial investment in the company, making it one of the largest shareholders, and has already been in communication with the company. Elliott sees Public Storage as a company with first mover advantage in this $40 billion industry, which has given it a moat of irreplaceable assets.cnbc.com
Movement turns abandoned housing into beautiful furniture, fighting climate change and growing jobs in the process
For five years, Pollock has been a part of what could be described as an urban lumber movement. Brick and Board is just one of the private partners in the Urban Wood Project. Urban Wood Project co-leader Sarah Hines now wants to help the cities replicate what she calls an urban wood economy. Jennifer Szeliga, who leads the Urban Wood Rescue in California, has a similar mission. Also part of the Urban Wood Project, the company turns reclaimed wood from Baltimore, Sacramento, Detroit and Minneapolis into sustainable furniture and decor.cbsnews.com
Illinois college enrollment down as COVID-19 pandemic disrupts higher education plans for scores of would-be students
“Within Illinois, we actually experienced a slightly larger enrollment decline than what was being reported nationally at the undergraduate level,” said Eric Lichtenberger, the board’s deputy director for information management and research. “And our growth in graduate and professional enrollments was actually somewhat more muted.”chicagotribune.com
Jacksonville councilman proposing independent citizen review board
JACKSONVILLE, Fla. – A Jacksonville City Council member is proposing an independent citizen review board. City Councilman Garrett Dennis said he feels the board would help create a better relationship between the community and Jacksonville Sheriff’s Office. Dennis said the board would consist of 15 members, 14 of whom would be selected by council members. The board would also include a JSO officer. Dennis said the board would participate in ridealongs with JSO and review cases that have been closed, including officer-involved shootings and excessive force.
No party this year but Children’s Christmas Party will still give out toys
JACKSONVILLE, Fla. – The Children’s Christmas Party of Jacksonville on Wednesday announced a change of plan for distributing toys to children in the Jacksonville area during December. LINK: Children’s Christmas Party of Jacksonville“We wish we could hold our event as usual with thousands of Jacksonville’s good people coming together to celebrate Christmas, however, this new method of toy distribution by our charity was a needed compromise in a year experiencing a public health crisis,” Diane Halverson, executive director of The Children’s Christmas Party, said in a prepared statement. This would have been the 22nd year for the event put on by The Children’s Christmas Party of Jacksonville nonprofit. FROM THE VAULT: First Children’s Christmas Party in 1999But the tradition of Christmas toys for Jacksonville children in need goes back decades -- to the start of the Dorcas Drake Christmas Party in the 1950s. The Children’s Christmas Party nonprofit hopes to have an in-person distribution in 2021.
Facebook oversight board to start operating in October
The board is intended to rule on thorny content issues, such as when Facebook or Instagram posts constitute hate speech. If those tests go to plan, the board said it would start accepting and reviewing appeals from users in mid to late October. The board was initially expected to start operating in early 2020 but the launch was delayed. It will start by hearing appeals from users whose content has been taken down by Facebook before expanding to appeals from users who want the company to remove content. Facebook can also refer cases to the board on its own.
Stocks making the biggest moves after hours: Tesla, Dollar Tree, Jefferies Financial Group & more
A Tesla Inc. vehicle charges at a charging station in San Mateo, California, U.S., on Tuesday, Sept. 22, 2020. Check out the companies making headlines after the bell:Jefferies Financial Group — Shares of the financial services firm jumped more than 14% following the company's third quarter earnings results. Jefferies earned $1.07 per diluted share, up from 15 cents in the same quarter a year ago. Dollar Tree — The bargain retailer gained more than 1% after the company said it will resume its share repurchase program. Tesla — Shares of the electric vehicle company slid 1%, building on the stock's 10.34% decline during the normal trading session.cnbc.com
Parent group calls for Duval public schools to require masks & postpone school year
JACKSONVILLE, Fla. – A newly formed group is calling on Duval County Public Schools to require masks in buildings, postpone the school year until after the Republican National Convention and many other changes to the district’s reopening plan. The congregation of parents and stakeholders from around the Duval County School District formed the Duval Schools Pandemic Solutions Team on Friday and brought a litany of concerns to the school board during its special meeting Tuesday morning. On Tuesday, the School Board agreed to spend more than $4 million through the district’s COVID-19 fund to purchase and install 120,000 desk partitions. RELATED: Duval school board approves plan to buy desk barriers for studentsThe congregation believes every grade level, including middle and high school, should have the full-time option to keep learning virtually. Additionally, the group believes middle and high school students should also have an option to be at school full-time, saying that school is a safe haven for many students in troubled homes.
Board votes to explore removing Confederate names from Duval schools
JACKSONVILLE, Fla. – Amid renewed calls for the renaming of schools dedicated to Confederate civil war figures, the Duval County Public School Board voted Tuesday night to explore changing the names of six schools. The unanimous vote came after a letter from School Board Chairman Warren Jones recommending the board approve the renaming of J.E.B. Stuart Middle School, Stonewall Jackson Elementary School, Joseph Finegan Elementary School, Jefferson Davis Middle School, Edmund Kirby Smith Middle School and Robert E. Lee High School. In 2013, the Duval County school board voted unanimously to change the name of Nathan Bedford Forrest High School, later renaming it Westside High School. Demonstrators stood outside the Duval County School Board building before the meeting, holding signs, urging the district to take action.
Duval School Board votes in favor of providing PPE to all students, staff
JACKSONVILLE, Fla. – The Duval County School Board voted Tuesday evening in favor of the purchase of 143,000 reusable face masks to distribute to all students, faculty and staff in the district. The mask policy will next be reviewed by the school board after Dr. Diana Greene -- the school superintendent -- and staff have reviewed CDC protocols for returning students to face to face instruction. A spokesperson for the school district noted that the board voted on a recommendation to purchase the masks, but not to require students and staff to wear them. Your child returns with all students on Aug. 10 to a regular full-time schedule, as usual. Your child returns with all students after Labor Day with personal protection equipment and handwashing protocols.
Expedia replaces CEO and CFO in leadership shakeup
Expedia announced Wednesday that CEO Mark Okerstrom and CFO Alan Pickerill are stepping down because of a fight over the travel company's strategy. Expedia Chairman Barry Diller will manage day-to-day operations and will oversee its executive leadership team. Okerstrom moved up from CFO to CEO in 2017 when then-CEO Dara Khosrowshahi left the company to become chief executive of Uber. Peter Kern, our Vice Chairman, and I, will oversee the company's executive leadership team, managing day-to-day operations, while the Board determines the long-term leadership of the Company. We are creating an Expedia Business Services organization which will be comprised of Expedia Partner Solutions and Egencia.cnbc.com
Federal retirement savings should not fund China's Communist Party
Yet the Federal Retirement Thrift Investment Boardthe body that manages the Thrift Savings Plan (TSP), the 401(k) for federal employeeswants to funnel the retirement savings of these Americans directly to a regime that poses one of the greatest threats to our nation's long-term security and prosperity: the Chinese Communist Party. Investable Market Index as a benchmark means TSP retirement accounts will effectively fund companies that engage in human rights abuses and support China's efforts to undermine America. It exposes nearly $50 billion in assets to severe and undisclosed material risks associated with many Chinese companies listed on the index. Many Chinese companies included in MSCI indexes are state-owned or state-directed enterprises Beijing uses to undermine American workers. Investable Market Index as a benchmark means TSP retirement accounts will effectively fund companies that engage in human rights abuses and support China's efforts to undermine America.cnbc.com