Latest news with #BRENDANSMIALOWSKI
Black America Web
26-05-2025
- Politics
- Black America Web
Trump Administration Launches Civil Fraud Unit Targeting DEI Initiatives at Colleges
Source: BRENDAN SMIALOWSKI / Getty I love living under an administration that straight up doesn't care about the country's actual problems. Sure we've got a cost of living crisis, an incoherent job market, and devastating climate events occurring more and more frequently, but at least we can rest easy knowing the Trump administration created a unit this week to tackle the biggest problem facing everyday, working class Americans: Diversity, Equity, and Inclusion (DEI) initiatives on college campuses. We live in such a stupid timeline, y'all. The Department of Justice (DOJ) announced the creation of the 'Civil Rights Fraud Initiative' on Monday, Reuters reports. Despite having 'Civil Rights' in the title, this initiative isn't designed to protect vulnerable and underrepresented students from having their rights violated. Instead, it does quite the opposite by threatening to pull federal funding from schools that offer protections or considerations for non-white, non-straight, non-cis gender students. 'A university that accepts federal funds could violate the False Claims Act when it encourages antisemitism, refuses to protect Jewish students, allows men to intrude into women's bathrooms or requires women to compete against men in athletic competitions,' Deputy Attorney General Todd Blanche wrote in the memo announcing the initiative. Blanche added that all 93 of the U.S Attorneys' offices are required to assign at least one prosecutor to help with the effort, because I'm sure they had nothing else better to do with their time. The False Claims Act is a federal civil law that grants the government the ability to recover funds from people or organizations who have defrauded it. I'm no legal scholar, but I can't for the life of me figure out how DEI initiatives equate to defrauding the government. The DOJ has already taken action against Harvard, launching a False Claims Act investigation against the school last week to see if the school's admissions standards adhere to the Supreme Court's ruling that effectively ended affirmative action in college admissions. To Harvard's credit, it's not taking the attacks lying down. From Reuters: Harvard is currently suing the government, after the Trump administration canceled its federal grants in what the university alleges is a bid to 'coerce and control' it. In a statement on the False Claims Act inquiry, a Harvard spokesperson said the school is committed to following the law. The investigation represents 'yet another abusive and retaliatory action – the latest of many – that the administration has initiated against Harvard since the University was forced to defend itself from harmful overreach against higher education,' the university said. This is just the latest of several steps the Trump administration has taken over the last four months to crack down on DEI initiatives and silence free speech on college campuses. The Department of Education has launched an investigation into 45 colleges whose DEI practices they deem as 'race-exclusionary practices.' (For folks who say we have a victim mentality, white folks sure seem to love painting themselves as the victim.) We've also seen schools like Columbia outright cancel courses that focus on race and the role it plays in our daily lives. This assault on DEI isn't simply removing considerations for Black and brown students, but is also an outright attack on our history. This crackdown has had wide-ranging consequences beyond canceled classes and DEI initiatives. Hundreds of millions of federal dollars meant to fund medical research at several universities are being withheld from schools whose DEI practices offend the Trump Administration. Research funding was even withheld from Ohio State University, Vice President J.D. Vance's alma mater, despite the school completely shuttering its Office of Diversity and Inclusion as a result of the Trump administration's crackdown. I guess saving the lives of cancer patients is far less important than ensuring Black and brown students aren't given the same opportunities as their white peers. SEE ALSO: Target Messed Around And Found Out, Reports 1st Quarter Sales Slump California Teen Spurs Outrage With Racist Promposal SEE ALSO Trump Administration Launches Civil Fraud Unit Targeting DEI Initiatives at Colleges was originally published on Black America Web Featured Video CLOSE
Black America Web
14-05-2025
- Business
- Black America Web
Trump's ‘Big, Beautiful Bill' Will Destroy Medicare, Food Stamps
Source: BRENDAN SMIALOWSKI / Getty Republicans are pushing to win Trump's approval so much that they named the most recent bill the 'THE ONE, BIG, BEAUTIFUL BILL' using the president's child-speak to ignore the fact that if approved, the disastrous legislation proposal will reduce Medicaid health care and food stamps funding significantly. According to the Associated Press, tensions rose during a late-night session that dragged into Wednesday morning as Democrats finally began fighting back by submitting more than 100 amendments that were largely ignored by Republicans, who desperately want to pass the president's signature legislation. 'People feel very strong because they know they're losing their health care,' Rep. Frank Pallone, D-N.J., on the Energy & Commerce Committee, told AP. From AP: It's the biggest political and legislative debate for the Republicans leading Congress since Trump's first term, setting up a career-defining clash over the nation's priorities, all coming at a time of economic unease with Trump's trade war and other uncertainties. Trump, speaking at a forum in the Middle East, struck an ambitious chord, saying Congress was 'on the verge of passing the largest tax cut and regulation cut in American history.' 'If we get that, that will be like a rocket ship for our country,' Trump said in Saudi Arabia. But to be sure, there are many more steps before the package becomes law. The bill would extend tax cuts from 2017 and would include Trump's 2024 campaign promises not to tax tips, Social Security, and car interest loans. There would also be a larger deduction, $32,000 for couples, a boost to the Child Tax Credit, and a $30,000 cap on state and local tax deductions. 'That's offset by $1.9 trillion in savings largely from the rollback of green energy tax credits, for a net tally of $3.7 trillion in costs over the decade, according to the most recent estimates — along with billions more in savings from the safety net cuts,' AP reports. Oh, and there would be some $350 billion to fund Trump's mass deportation plans and the Pentagon. And to be able to do this, Republicans are looking to cut some $800 billion over the next 10 years to the Medicaid health care program, 'which is used by 70 million Americans; $290 billion to food aid in the Supplemental Nutrition Assistance Program, known as SNAP; and others,' AP reports. Speaker Mike Johnson has already claimed that he wants this bill pushed through by Memorial Day, sending it to the Senate, where Republicans are working on their own version. Johnson has been given the reins to create a bill that can get the 218 votes needed to pass the House, but good luck with that. Senators of rural states are concerned that the bill, as it stand,s would leave many of their constituents without healthcare, or forced to pay more. 'Sen. Josh Hawley (R-Mo.) said he's fine with the new work requirements and antifraud provisions that House Republicans have proposed for Medicaid, but he raised concerns about their 'cost-sharing' proposal, which he said would make 'beneficiaries pay more.'' 'These are working people in particular who are going to have to pay more,' Hawley told The Hill. 'The provider tax in particular, that could have a big impact in my state and lead to reduced coverage, so I've got some concerns. I think we need to look really, really carefully at that. I continue to maintain my position that we should not be cutting Medicaid benefits,' he said. So now we wait, but the GOP is doing it wrong if Hawley, one of the most staunch Republicans, is not on board with the bill in the shape that it's in. SEE ALSO: Trump's Brazen Takeover Of The Library Of Congress Is Another Direct Threat To Democracy Trump Prioritizes White Afrikaners Over Black And Brown Migrants SEE ALSO Trump's 'Big, Beautiful Bill' Will Destroy Medicare, Food Stamps was originally published on Black America Web Featured Video CLOSE
Black America Web
29-04-2025
- Politics
- Black America Web
Clayborn Temple, Historic Landmark In Memphis With Ties To Martin Luther King Jr., Catches Fire
Black America Web Featured Video CLOSE Source: BRENDAN SMIALOWSKI / Getty A historic landmark in downtown Memphis with ties to the Civil Rights movement tragically caught fire on Monday morning. According to WREG, the Memphis Fire Department and the ATF are still investigating what caused Clayborn Temple, a place of worship at the intersection of Hernando Street and Martin Luther King Jr. Avenue, to be engulfed in flames. In the meantime, community leaders in Memphis are left reeling over the destruction and hoping the temple will be restored. 'Clayborn Temple is more than a historic building. It is a sacred ground. It is the beating heart of the civil rights movement, a symbol of struggle, hope, and triumph that belongs not just to Memphis but to the world,' Memphis Mayor Paul Young said via press release. 'Clayborn Temple has seen struggle before, and it has always overcome. So will we.' Dr. Russ Wigginton, President of the National Civil Rights Museum, also lamented the tragedy, but, like the mayor, he expressed hope and optimism, declaring that the fire could take down the temple's walls, 'but it cannot destroy the spirit that built them.' 'The recent fire that consumed Clayborn Temple is a devastating blow, not only to Memphis but to the nation,' Wiggington said in a statement. 'This historic church, a nerve center of the Civil Rights Movement, was more than just bricks and stained glass; it was a beating heart of a community that chose unity over division, progress over fear, and community over chaos.' Here's a little more history on the temple via WREG: Clayborn Temple was the launching point for a march for sanitation workers' rights that brought Dr. Martin Luther King Jr. to Memphis in 1968. The iconic 'I Am A Man' signs used in the march were printed there. Dr. King planned to march with sanitation workers from Clayborn Temple on April 8, before he was assassinated April 4 on the balcony of the Lorraine Motel. His wife, Coretta Scott King, led strikers and thousands of supporters in his place. The building dates to 1892, when it was originally Second Presbyterian Church. In 2018, the National Trust for Historic Preservation officially named the church a national treasure. It has been undergoing a multi-million dollar restoration and is the site of the I Am A Man Plaza. Fire Chief Gina Sweat reported that firefighters were still putting out hot spots around 9 a.m. Monday morning. It's unclear how extensive the damage is, but photos taken at the scene show a building consumed in flames and a building in ruin in the aftermath, indicating that any road to recovery will be a long one. SEE ALSO: Memphis Police Sergeant Under Fire For Suggesting Descendants Of Slave Owners Are Owed Reparations Candace Owens' MAGA Meltdown: The Hypocrisy, The Flip-Flop, and the Fallout SEE ALSO Clayborn Temple, Historic Landmark In Memphis With Ties To Martin Luther King Jr., Catches Fire was originally published on
Forbes
15-04-2025
- Business
- Forbes
Will ABT Stock Rise Or Fall Post Earnings?
An exhibit from Abbott is seen at the Las Vegas Convention Center during the Consumer Electronics ... More Show January 10, 2024, in Las Vegas, Nevada. (Photo by Brendan Smialowski / AFP) (Photo by BRENDAN SMIALOWSKI/AFP via Getty Images) Abbott Laboratories is set to announce its earnings on Wednesday, April 16, 2025. Analysts project earnings of $1.07 per share on revenues of $10.41 billion for Q1. This reflects an improvement over the same quarter last year, which saw earnings of $0.98 per share and revenue of $9.96 billion. The Freestyle Libre diabetes product is anticipated to be a significant contributor to this growth. Abbott holds a market capitalization of $220 billion, supported by $42 billion in revenue and $6.8 billion in operating profits over the last twelve months, leading to a net income of $13 billion. While the stock's post-earnings move will hinge on how results compare with expectations, historical trends over the past five years show that ABT shares have declined the day after earnings in 60% of cases, with a median drop of 2.4% and a maximum single-day loss of 6.5%. This trend may offer insights for event-driven traders who may act ahead of earnings based on these probabilities or analyze correlations between short- and medium-term returns to consider trades a day after results are announced. For those seeking upside with less volatility than single stocks, the Trefis High-Quality portfolio provides an option — having outperformed the S&P 500 and delivered returns over 91% since inception. See earnings reaction history of all stocks Here are some insights into one-day (1D) post-earnings returns: Additional statistics summarizing observed 5-Day (5D) and 21-Day (21D) post-earnings returns are presented in the chart below. ABT observed 1D, 5D, and 21D returns post earnings A lower-risk approach — though only effective with strong correlation — involves analyzing short- and medium-term return relationships post earnings, then acting based on the strongest pair. For instance, if the 1D to 5D correlation is highest, a trader could consider going 'long' for 5 days after a positive 1D move. Below is correlation data using five- and three-year histories. Note that 1D_5D reflects correlation between 1-day post-earnings and the next 5-day returns. ABT Correlation Between 1D, 5D and 21D Historical Returns Learn more about the Trefis RV strategy, which has outperformed its all-cap benchmark (S&P 500, S&P mid-cap, and Russell 2000 combined), offering strong returns. Alternatively, for exposure with lower volatility than a single stock like Abbott Laboratories, consider the High Quality portfolio, which has topped the S&P and returned over 91% since inception. Invest with Trefis Market Beating Portfolios | Rules-Based Wealth
