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ISS Challenges Boeing CEO’s $32.8M Compensation Amidst Stock and Safety Concerns

Institutional Shareholder Services (ISS), a big company that advises shareholders, says Boeing investors should say “no” to CEO David Calhoun getting $32.8 million for his work at the annual meeting on May 17.

They’re saying this because Boeing has had a tough time, especially in January when one of its planes had a problem with a door while flying. Even though Calhoun didn’t get a yearly cash bonus in 2023, his pay went up by 45% compared to last year.

This big raise was mostly because he got a lot more money in long-term bonuses for the third year in a row. ISS thinks the reasons the company gave for giving Calhoun more money aren’t very good, especially since his pay has gone up a lot since he became CEO in 2020.

What ISS Is Saying

ISS is worried about how Calhoun’s pay is set up, especially a big bunch of company shares he’s supposed to get over a short time.

Federal Aviation Administration

These shares were supposed to match some he bought in late 2022. But ISS says this, combined with the big increase in his long-term bonus, might make investors wonder.

Also, ISS noticed that Calhoun uses private jets a lot, which cost $514,285. They say this is way more than most other CEOs of big companies pay for private flights.

Boeing’s Money Troubles

Boeing’s been having money problems too. Their share price was $179.79 on Friday, which is 29% less than at the start of the year.

In January, a Boeing 737 Max plane had to make an emergency landing because of a problem with a door while flying for Alaska Airlines.

Boeing faces financial scrutiny with a 29% stock price decline and a $4B cash burn.

After that, the Federal Aviation Administration stopped some 737 Max planes from flying for a while. In the first three months of this year, Boeing lost almost $4 billion, and they had to pay $443 million because of the problem with the Alaska Airlines flight.

What the Board and Leaders Think

Even though ISS says Calhoun shouldn’t get so much money, they’re still saying investors should vote to keep him and other board members, like David Joyce, who’s in charge of safety for aerospace stuff.

ISS agrees Boeing has a lot of work to do to make airlines, passengers, and regulators trust them again, but they think keeping Joyce is okay, but just barely.

Real Estate Stocks Projected to Grow by 16% Amid Stable Interest Rates

Analysts think real estate stocks will do well soon. They believe they could go up by as much as 16 percent in the next year. This is because the Federal Reserve, which controls interest rates, says it won’t raise them for a while.

This is good for real estate because it usually does better when interest rates are steady.

The Federal Reserve’s Decision Helps Real Estate

The Federal Reserve’s decision about interest rates is really important for the real estate market. By saying they won’t raise rates and will keep them high, they’ve made investors feel more confident.

This is according to Gregory Kuhl from Janus Henderson Investors. He thinks that even if interest rates don’t go down, real estate stocks could still do well. Many other experts agree, saying that just the fact that rates won’t go up could kickstart the real estate sector.

Getting Through Tough Times

Even though people are optimistic about real estate, there are still problems. Not many companies are buying or merging, and what the Federal Reserve does affects the market a lot. But this situation also offers good opportunities for long-term investors.

Federal Reserve’s stable interest rates buoy hopes and offer confidence to investors in real estate.

The S&P 500 Real Estate Index is much cheaper now compared to how it usually is, which means it’s a good time to buy in.

Experts like Michael Carroll from RBC Capital Markets think certain parts of real estate, like industrial spaces, housing for seniors, single-family rentals, and data centers, could be especially good investments if Treasury yields stay steady.

Seeing Both Sides

Real estate’s future depends a lot on what the Federal Reserve does with interest rates, but there’s more to it than that.

Real estate’s future depends on the Federal Reserve’s policy, but also on broader economic factors.

The costs of borrowing money should stay steady, and real estate stocks are cheaper than usual right now, so it’s a good time to invest, especially in specific parts of the market.

However, investors should be careful because Treasury yields could change, and the real estate market is sensitive to what’s happening in the economy.

Honore Acquires West Loop Property for $4.8 Million, Proposes Development of 70 Apartments

In a surprising move that shows how city real estate is changing, Honore Properties bought an office building in the West Loop area of Chicago for only $4.8 million. This is much less than the $14 million it sold for in 2019.

The building is at 118 South Clinton Street. This purchase, at less than $67 per square foot, tells us a lot about how offices in downtown areas are being valued and used differently now.

The plan is to turn this 72,000-square-foot building into 70 apartments. This shows a big change happening where offices are being changed into places for people to live. This is because there’s a high demand for places to live, but many old office buildings in cities are not being used.

Turning Offices into Homes

Honore Properties, which is led by Michael Shenouda, wants to change this seven-story office building into homes. This isn’t just a business decision; it’s also following a trend in the market and city planning.

Converting a 72,000 sq ft building into 70 apartments signals a shift to residential use.

The mayor of Chicago, Brandon Johnson, wants to make downtown areas more lively by changing offices into homes. The city is giving $151 million in taxpayer money to help with this.

Honore has already successfully turned other buildings into homes, like one on 19 South Wabash Avenue and an old Archdiocese of Chicago office building.

Making Cities Better

This change in the Clinton Street building is a big deal in city real estate. It shows how office and home spaces are becoming more similar.

Clinton Street

The building’s design, with elevators and open spaces, is perfect for homes. The cost to make this change is about $10 million. This is a big investment in making cities better without needing help from the government.

This move not only takes advantage of the current market but also sets an example for making cities more livable by using what’s already there.

A New Way for the West Loop

Honore Properties buying and changing this building is part of a bigger trend. It shows how buildings are being used for different things, like mixed-use developments.

West Loop, Chicago

This is important in the West Loop area of Chicago, which is ready for changes and growth. By turning this empty office building into homes, Honore is not only changing how it looks but also helping the area’s economy and community.

This project is a good example of how real estate can solve city problems and can be a model for other cities facing similar challenges.

Top Aide to Chinese Businessman Guo Wengui Pleads Guilty to $1 Billion Fraud Conspiracy

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Yvette Wang, the top aide to Chinese businessman Guo Wengui, admitted in court in New York that she took part in a scheme that stole over $1 billion from people worldwide. This happened just before Guo, who’s 53 years old, is supposed to go on trial in Manhattan for similar charges. Wang was going to stand trial alongside Guo before she confessed.

Guo, who’s connected with former Trump aide Steve Bannon, is accused of tricking his online followers into investing by promising big returns. He says he’s innocent.

Wang, aged 45, agreed to pay $1.4 billion in fines and give up the same amount. The Manhattan U.S. Attorney, Damian Williams, said this.

Yvette Wang pleaded guilty in New York to $1 billion for being involved in a fraud conspiracy along with Guo Wengai.

She could face up to 10 years in prison for conspiracy to commit fraud and money laundering. Her sentencing is set for September 10.

Williams said Wang played a big role in a plan that tricked many people out of their money.

Guo, when arrested last year, allegedly spent some of the stolen money on a big house, a yacht, fancy cars, and expensive items like a piano and mattresses.

Guo used stolen money for a mansion, yacht, and cars; Wang paid $1.4 billion in restitution

Prosecutors seized over $650 million from bank accounts and other assets. Guo’s companies agreed to pay around $540 million to settle allegations of illegal stock trading.

Guo, also known as Miles Guo or Miles Kwok, has been in the U.S. since 2015, reportedly to avoid charges of corruption in China.

Activist Investor Ancora Gains Support for Board Slate at Norfolk Southern Shareholder Meeting

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Norfolk Southern unions and pension funds invested in it should support activist Ancora’s full seven-director team at the railroad’s upcoming shareholder meeting, two different Institutional Shareholder Services (ISS) proxy advisory services said.

ISS’ Taft-Hartley Advisory Services and Social Advisory Services, which focus on recommendations for unions and socially responsible investors, said in their reports that having a majority of Ancora’s team would help deal with the current board’s “negligence” and address accountability concerns.

Both reports said the proxy contest is about deciding which management team is best for the company’s future. They emphasized the need to give the dissident (Ancora) a strong voice to make their case for management change.

Norfolk Southern CEO Alan Shaw

The reports also supported Ancora’s CEO pick, Jim Barber, as a “credible” director and chief executive, despite criticisms about his lack of railway experience. They said Barber seems capable, with skills and experience that could work well in the railroad industry.

Earlier, ISS and Glass Lewis had already suggested that shareholders support most of Ancora’s nominees at Norfolk Southern’s upcoming meeting. Glass Lewis endorsed six of Ancora’s director picks, including Barber.

Ancora responded, saying that this news is important for union retirement plans and socially responsible investment firms. They highlighted their three-year precision-scheduled railroading strategy, which they believe differs greatly from Norfolk Southern’s model and has worked well in other railroads.

Ancora’s CEO pick, Jim Barber, was deemed credible despite a lack of railway experience. (Credits: Logistics)

Norfolk Southern responded by saying that the ISS team behind the Taft-Hartley report didn’t engage with their management, unlike the main ISS research team, which recommended supporting most of Norfolk Southern’s director nominees.

However, the endorsements from proxy advisors signal a mandate for change at Norfolk Southern, which has performed poorly in the stock market and is dealing with fallout from a derailment in Ohio.

ISS’ recommendations are significant, especially considering the derailment, which released over 100,000 gallons of toxic chemicals into the environment.

Union support split between management and activist investor Ancora, uncommon in the railroad industry.

Norfolk Southern said they’ve contributed over $105 million to the region affected by the derailment, not including a $600 million class-action settlement.

These recommendations also matter because unions have a big influence in the railroad industry.

Union support is split between management and the activist investor. Two different Teamsters unions, representing about 42% of Norfolk Southern’s unionized workforce, are supporting the activist. Another group of unions is backing management.

Union support for activist campaigns at railroads is unusual, as they typically focus on cutting costs and improving financial metrics. However, Ancora has managed to get support from unions and other shareholders.

Top institutional shareholders, including Vanguard, BlackRock, State Street, Dodge & Cox, and pension funds like CalPERS, CalSTRS, and Colorado’s public pension fund, are among those being appealed to.

Potential Reversal of Climate Disclosure Rule and Increased ESG Battles Expected Under Trump SEC

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The Securities and Exchange Commission (SEC) might change its approach if Donald Trump gets re-elected, according to insiders. Currently, Gary Gensler is the head of the SEC, and it’s been tough on big companies. But if Trump wins again, the SEC could ease up, especially on rules about the environment.

One major focus for a second Trump term would be to undo the new rules about disclosing climate information. Gensler, along with the SEC, made a rule in March that forces big companies to reveal how much greenhouse gases they emit. They have to start doing this by 2025 and give details by 2026.

Gensler thinks it’s important for companies to tell investors about their greenhouse gas emissions because it affects their business.

But if a Republican chosen by Trump leads the SEC, they would probably get rid of these new rules, say some insiders.

According to one person who advises Trump on SEC matters, these rules cost companies and investors a lot of money without giving them any real benefits. This person, like others in this story, didn’t want to be named.

Trump doesn’t like the idea of companies being pushed to follow environmental, social, and governance (ESG) standards either. When he was president, he made it tougher for employers to offer ESG funds in retirement plans. But the Biden administration later made it easier.

In February, Trump said on his Truth Social account that if he gets a second term, he’ll bring back his previous rules.

BlackRock and Vanguard Under Pressure

A possible second term for Trump, focusing on ESG issues at the SEC and beyond, might spell trouble for major investment firms like BlackRock and Vanguard.

Increased ESG Battles Expected Under Trump SEC
Blackrock

These companies have long offered eco-friendly investment choices to their clients. But recently, just having these options has caused political controversies for them. Some of Trump’s allies have led the backlash against them.

A Texas public school fund recently withdrew $8.5 billion from BlackRock’s management, citing the firm’s reluctance to invest in fossil fuels. Florida also withdrew $2 billion in 2022, accusing BlackRock of prioritizing ESG over investors. Both states are led by politically ambitious Republican governors, Ron DeSantis in Florida and Greg Abbott in Texas.

Representatives for BlackRock and Vanguard didn’t immediately respond to requests for comment. However, both firms have strongly denied favoring climate concerns over their clients’ interests. They’re fiduciaries, meaning they’re legally bound to prioritize their clients.

Vanguard

Still, a Trump supporter told CNBC that they planned to discuss with the former president how to use a Trump White House to push back against ESG investment guidelines.

If Trump wins a second term and issues an order prohibiting ESG considerations in retirement funds, for instance, he could then urge Republican-led states to pressure investment firms to scale back their eco-friendly investment advice, according to a close associate of Trump.

“You start with executive action at the federal level, and then you get state treasurers to pressure investment funds to move away from ESG and encourage more states to divest from these funds,” the Trump confidant explained.

Addressing the Crypto Conundrum

Under a potential second Trump term, one exception to the less strict regulation at the SEC might be its stance on the cryptocurrency industry.

Cryptocurrency

“The SEC under the first Trump administration actively pursued crypto cases and aimed to regulate this industry,” said Jennifer Lee, a lawyer and former Assistant Director in the SEC’s division of enforcement.

“In a second Trump administration, we can expect ongoing efforts by the SEC to define its role and authority over crypto.”

“While there’s more consistency and understanding about the standards the SEC will use to determine if a token falls under its jurisdiction, there are still questions about how far that jurisdiction extends,” Lee pointed out.

Analyzing Rental Prices in Major Asian Cities: A Financial Perspective

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Renting a place can be a big deal, especially in a big city where prices are high.

Experts say you shouldn’t spend more than about 30% of what you earn before taxes on rent. A study gathered data from government websites and real estate places in Asia to see how much it costs to rent in big cities.

Here are the prices for renting a one-bedroom apartment and buying property per square meter in some of Asia’s major cities:

Mumbai, India:

  • Rent: $481
  • Buying price per square meter: $3,882

Hanoi, Vietnam:

  • Rent: $688
  • Buying price per square meter: $2,280
Jakarta, Indonesia

Jakarta, Indonesia:

  • Rent: $698
  • Buying price per square meter: $1,726

Kuala Lumpur, Malaysia:

  • Rent: $735
  • Buying price per square meter: $3,903

Manila, Philippines:

  • Rent: $805
  • Buying price per square meter: $3,813

Taipei, Taiwan:

  • Rent: $816
  • Buying price per square meter: $17,551
Taipei, Taiwan

Bangkok, Thailand:

  • Rent: $1,080
  • Buying price per square meter: $6,485

Tokyo, Japan:

  • Rent: $1,216
  • Buying price per square meter: $8,837

Hong Kong:

  • Rent: $2,173
  • Buying price per square meter: $25,802
Singapore

Singapore:

  • Rent: $4,590
  • Buying price per square meter: $16,619

In 2023, Asia’s housing market slowed down because of a weak economy and high prices, according to a report.

Hong Kong’s housing market faced problems as construction slowed down and prices dropped.

Prices for homes in some parts of Southeast Asia like Ho Chi Minh City, Vietnam, and Malaysia also went down.

But cities like Taipei and Singapore kept going strong, with prices going up.

Generally, the housing market seems to be getting better as prices ease in many places and banks stop raising rates.

Trump Expresses Frustration Over Cohen Call Evidence in Court

Former President Trump complained about a recording played during his hush money trial. On Truth Social, he said the tape was cut off too soon, missing something positive he was about to say.

During the trial, a recording from 2016 showed Trump talking to Michael Cohen about paying off a woman to keep quiet about an alleged affair. Trump asks about the cost and payment method, preferring cash over a check.

A forensic analyst noted the recording ended abruptly, possibly due to an incoming call. However, there’s no record of that call.

Trump Expresses Frustration Over Cohen Call Evidence in Court
Former President Trump

Cohen, once Trump’s lawyer, is now testifying against him. Trump’s defense argues Cohen isn’t trustworthy.

Trump faces charges related to falsifying business records, including a payment to Stormy Daniels to keep quiet about their alleged affair. He denies the charges.

Boebert Nonchalant About Speaker Choice Amid GOP Leadership Drama

Representative Lauren Boebert from Colorado said she doesn’t care if Speaker Mike Johnson from Louisiana stays or if Representative Hakeem Jeffries from New York becomes the new Speaker.

Boebert explained that because Democrats mostly support laws, it doesn’t matter to her who leads the House right now.

Her statement came before Representative Marjorie Taylor Greene from Georgia announced her plan to try to remove Johnson from his position. Only two other Republicans support Greene’s plan.

Boebert Nonchalant About Speaker Choice Amid GOP Leadership Drama
Representative Lauren Boebert from Colorado (Credits: ABC News)

However, it might be tough for Greene to succeed because Democratic leaders are against removing Johnson. Even if Greene’s plan fails, she thinks it’s still a victory because people will see who supported it.

Johnson criticized Greene’s actions, saying she wasn’t being a responsible lawmaker. He also said Greene’s plan is wrong for their party, the House, and the country.

Greene decided to take action against Johnson after the House approved a bill for foreign aid last month. She believes Johnson’s time as Speaker won’t last long.

Controversial Republican-Backed Bill on Cash Bail Signed by Georgia Governor

Georgia Governor Brian Kemp, a Republican, signed a bill on Wednesday that many people disagree with. This new law says that more crimes will now require cash bail in Georgia.

The bill, known as S.B. 63, was supported by five Republicans in the state, including Senator Randy Robertson, who is a leader in the Senate.

Governor Kemp said during a ceremony where he signed the bill that it’s important for keeping dangerous people off the streets.

However, the ACLU, an organization that protects civil liberties, strongly criticized this bill. They said it’s cruel, expensive, and won’t make things better.

Controversial Republican-Backed Bill on Cash Bail Signed by Georgia Governor
Georgia Governor Brian Kemp (Credits: ABC News)

According to the ACLU, research shows that putting more people in jail doesn’t reduce crime and just costs taxpayers more money. Georgia already has a high rate of putting people in jail compared to other states.

The ACLU thinks this new law will make things worse by keeping more people in jail, especially those who are poor or have mental health problems.

They are disappointed that Governor Kemp signed this bill into law and said they will challenge it in court to stop it from taking effect.

Johnson Indicates Interest in Leading Republican Party Next Term

Speaker Mike Johnson expressed his desire to keep his leadership role in the Republican Party for the next Congress. Despite facing criticism from conservatives who want him out, Johnson stated in an interview that he believes he’s been effective and hopes to continue his duties.

Johnson highlighted his plans for Congress and the country, expressing confidence in Republican victories in the upcoming elections. He emphasized his commitment to serving in whatever capacity his colleagues see fit.

However, some hard-line conservatives, including Representative Marjorie Taylor Greene, are pushing for Johnson’s removal. Greene plans to bring a resolution to vote on ousting Johnson, although support for this effort remains limited.

Johnson Indicates Interest in Leading Republican Party Next Term
Speaker Mike Johnson

While Democratic leaders intend to block any attempts to remove Johnson, critics within his party have their sights set on preventing him from leading the GOP in the future. They believe he lacks sufficient support among Republicans and may face challenges securing leadership positions after the elections.

Johnson’s fate depends largely on the election outcome. If Republicans gain more seats, he could argue for another term as Speaker. But if they lose control of the House, his chances diminish.

Despite criticism, Johnson defends his actions, emphasizing the need for a functional Congress to address national challenges.

Trump Expresses Displeasure with Legal Cases at Michigan Rally

Former President Trump spoke at a rally in Michigan, criticizing the legal cases against him as “bullshit.” He accused the judges handling his cases in New York of being corrupt and called his indictments fake.

Trump’s trial in New York City is about allegations that he falsified business records linked to a hush money scheme. He must attend court four days a week. Trump claimed that the charges against him were politically motivated and aimed at hurting him in the upcoming election.

During the rally, Trump also attacked Judge Juan Merchan, who is overseeing his trial, and complained about a gag order. He criticized other judges involved in his civil fraud and defamation cases. Trump didn’t mention the charges against him in Washington, D.C., and Georgia.

Trump Expresses Displeasure with Legal Cases at Michigan Rally
Former President Trump (Credits: AFP)

He spoke about his plans for a second term, including shutting down the southern border and extending his 2017 tax law. Trump also discussed abortion policy, saying it should be decided by the states.

He suggested that getting elected was crucial to implementing his agenda. The rally in Michigan was Trump’s first visit to a battleground state since his trial began. He also spoke at a rally in Wisconsin the same day.

Biden Plans Heartfelt Meeting with Families of Fallen Police Officers in Charlotte

President Biden will meet with families of police officers who died while working in Charlotte, North Carolina. He will go to Charlotte Douglas International Airport to show respect to the officers who were killed and wounded on Monday.

Biden will meet with the families of the fallen officers, those who were injured, and other law enforcement officers. He will also meet with elected officials. After that, Biden will travel to Wilmington, North Carolina, to talk about his plans, including building infrastructure and creating jobs.

Four police officers were killed while trying to arrest someone for having a gun illegally on Monday in east Charlotte. The officers were shot at when they approached the person. Deputy U.S.

Biden Plans Heartfelt Meeting with Families of Fallen Police Officers in Charlotte
President Biden

Marshal Thomas Weeks and North Carolina Department of Adult Corrections officers Sam Poloche and William Elliott died. Officer Joshua Eyer was seriously hurt and later died in the hospital.

Biden has said he supports law enforcement, especially amid criticism from Republicans about rising crime rates in the country. He has pushed for more funding for police departments to hire more officers and spend more time in communities.

During the Democratic primary in 2020, he did not support the “defund the police” movement that some progressives backed after George Floyd was killed in Minnesota.

Biden’s visit to North Carolina is part of his campaign’s efforts to win the state, which former President Trump won in 2020. Biden visited North Carolina in March, and Vice President Harris went to Charlotte in April.

House Antisemitism Bill Called “Ridiculous” by Gaetz

Representative Matt Gaetz from Florida criticized the House’s antisemitism law as a “ridiculous hate speech bill” before the vote on Wednesday.

The House passed a law to stop antisemitism on college campuses. This happened while there were protests supporting Palestine at American universities. Gaetz disagreed with the law before the vote. He said that some parts of the Bible could be considered antisemitic under this law.

Gaetz wrote on a social media site, “This evening, I will vote AGAINST the ridiculous hate speech bill called the ‘Antisemitism Awareness Act.’” He continued, “Antisemitism is wrong, but this legislation is written without regard for the Constitution, common sense, or even the common understanding of the meaning of words. The Gospel itself would meet the definition of antisemitism under the terms of this bill!”

The law would make the Department of Education use the International Holocaust Remembrance Alliance’s (IHRA) definition of antisemitism. Gaetz said that according to this definition, some parts of the Bible could be considered antisemitic.

House Antisemitism Bill Called "Ridiculous" by Gaetz
Representative Matt Gaetz from Florida

He said, “The Bible is clear. There is no myth or controversy on this. Therefore, I will not support this bill.”

The IHRA says antisemitism is “a certain perception of Jews, which may be expressed as hatred toward Jews.” The law would also include modern forms of antisemitism like calling the existence of Israel racist.

Another representative, Marjorie Taylor Greene from Georgia, also disagreed with the law. She said it could punish Christians who believe in the Gospel.

However, Representatives Mike Lawler and Jared Moskowitz defended the law. They said it wouldn’t make believing in the Gospel illegal.

The House passed the law with a vote of 320-91. Now it will go to the Senate for consideration.

JD Vance Raises Concerns About Pence’s Safety During Capitol Riot

Senator JD Vance from Ohio said on Wednesday that he doubts whether former Vice President Mike Pence was truly in danger during the riots at the Capitol on January 6, 2021.

During an interview on CNN’s “The Source,” reporter Kaitlan Collins asked Vance if he had any concerns about potentially being chosen as former President Trump’s running mate, given how Trump treated Pence. Vance shifted the conversation to his concerns about President Biden, but Collins repeated her question.

Collins pointed out that Biden did not call Pence when his life was in danger during the Capitol riots and asked if Vance had any concerns about being Trump’s vice president. Vance said he hadn’t spoken to Trump about it and expressed skepticism about Pence’s safety during the riots.

JD Vance Raises Concerns About Pence's Safety During Capitol Riot
Senator JD Vance from Ohio (Credits: The New Republic)

Vance said, “I’m truly skeptical that Mike Pence’s life was ever in danger. I think politics and politicians like to really exaggerate things from time to time.” Collins disagreed, mentioning the chants of “Hang Mike Pence” during the riots.

Vance acknowledged that some people said bad things, but he didn’t believe Trump should be blamed for everything said by participants in American democracy.

The Secret Service confirmed in 2022 that Pence was taken to an underground loading dock during the riots, where he waited with his family for about five hours. Pence described feeling angry but not afraid during the incident.

Pence has criticized Trump’s actions on January 6 and defended his own decision to certify the 2020 election results. He briefly ran for president last year but dropped out in October.

Yellen Eyes Expansion of Free Tax Filing Program

Treasury Secretary Janet Yellen told lawmakers that her department is thinking about making the free tax filing program better. Right now, it’s a small program, but they want to make it bigger and add more features, like being able to use it in different languages and filling in some information automatically.

But, some people don’t like this idea. Republicans and some companies that make tax software don’t want the government to offer this service for free because they used to have a deal with the IRS that said they would be the only ones to help with tax returns.

Yellen said they are still figuring out if it’s worth it to keep running this program. Some Democrats think it’s a good idea because it helps people file taxes for free and easily.

Yellen Eyes Expansion of Free Tax Filing Program
Treasury Secretary Janet Yellen

The program had more users than expected this year, with over 140,000 people using it. Most users liked it, saying it was easy to use.

But, companies like Turbo Tax say the government is not telling the whole truth about how much it’s costing to run this program.

The government is also planning big changes to the IRS, spending a lot of money to make it better, especially for catching rich people and big companies who aren’t paying their fair share of taxes.

President Biden wants to raise taxes for wealthy people but promises not to raise taxes for those who make less than $400,000 a year.

California’s Population Surges in Long-Awaited Rebound

California’s population grew by 67,000 people last year, marking the first increase since 2020. The total number of residents now stands at 39,128,162 as of January 1st.

This growth is due to several reasons. First, there have been better policies for legal immigration, meaning more people are moving to California from other countries. Second, more babies were born, contributing to natural population growth. Third, the number of deaths returned to normal levels after being higher for a while.

However, fewer people moved to California from other parts of the United States compared to previous years. Despite this, the state’s Department of Finance predicts that the population will continue to grow.

California's Population Surges in Long-Awaited Rebound
California’s Population Rises

In total, 31 out of 58 counties in California saw their populations increase. This was especially true for areas like the Bay Area, the Central Valley, and the “Inland Empire,” which is the region east of coastal Southern California.

Los Angeles County and Orange County also saw slight increases in their populations. Some counties had growth rates of over one percent, including Sutter, Yuba, and Glenn counties in the Sacramento Valley, as well as San Benito County and Imperial County.

Housing gains played a big role in these increases, according to the Department of Finance. In fact, nine out of every ten counties with more than 1 million people saw their populations go up. Riverside County had the largest increase, adding 13,800 new residents.

Governor Gavin Newsom commented on the growth, saying that people from all over the world and the country are coming to California to chase the “California Dream” and take part in the state’s strong economy. He emphasized that this growth is helping to strengthen communities across California and secure the state’s future.

Speaker Johnson Calls for Biden’s Presence at Columbia Amid Pro-Palestine Protests

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Speaker Mike Johnson, a Republican from Louisiana, wants President Biden to go to Columbia University and see the pro-Palestine protests happening there. Johnson and some other Republicans visited the university and spoke out against the protests.

When asked if he would ask Biden to visit Columbia, Johnson said yes. He also said that he called the White House to tell them about the situation.

Last week, Johnson and other Republicans held a press conference at Columbia, where they asked the university’s president to resign because of the protests. They also told the protesting students to go back to class and stop the demonstrations.

Speaker Johnson Calls for Biden's Presence at Columbia Amid Pro-Palestine Protests
Speaker Mike Johnson, a Republican from Louisiana

Johnson said he planned to call Biden and tell him what he saw at Columbia. He said there might be a need for the National Guard to come in and stop the protests.

The protests at Columbia got worse on Tuesday night when some protesters took control of a building. They blocked the entrances and put up a Palestinian flag.

The White House said this was the wrong thing to do. They said taking over a building is not a peaceful way to protest. They also said there’s no place for hate speech or symbols in the country.

When asked about Johnson’s comments, a White House spokesperson repeated that hate speech and symbols are not acceptable. They didn’t say if Biden would visit Columbia.

Senator Schumer Speaks Out Against Lawlessness in Columbia Protests

Senate Majority Leader Chuck Schumer criticized protesters at Columbia University who broke windows and took control of Hamilton Hall. He said it’s not free speech when people break the law. Schumer thinks those who did it should face serious consequences. He said protests should not turn into crimes because it doesn’t help their cause.

The protesters at Columbia University barricaded themselves in a building. The university said they can’t keep interrupting classes with protests. They warned that there would be consequences for breaking the rules.

Schumer, who is Jewish, said it’s wrong when Jewish students are targeted. He talked about a speech he made about antisemitism. He said antisemitism is terrible and shouldn’t be accepted.

Senator Schumer Speaks Out Against Lawlessness in Columbia Protests
Senate Majority Leader Chuck Schumer

Some Republicans want Columbia’s president to resign for not controlling the situation. They said it’s not right that Jewish students have to fear for their safety.

Senate Republican Leader Mitch McConnell also criticized the pro-Palestinian protests. He said the protesters are promoting hate against Jewish people. He thinks universities need to do more to stop these protests from turning violent.

McConnell praised Princeton University for handling protests better. He said universities should not just talk about stopping disorder, they should take action too.

Trump Hush Money Trial Continues in New York City Court

Testimony resumed on Tuesday in the trial of former President Trump. He’s accused of paying hush money to Stormy Daniels, an adult film actress who said they had an affair during the 2016 election.

The day started with Judge Juan Merchan finding that Trump broke a rule nine times by making comments online about jurors and witnesses. The judge fined Trump $9,000 and warned that more violations could lead to jail time.

Trump responded to the ruling by saying his freedom of speech was being taken away. He called the trial rigged and criticized the judge.

Trump Hush Money Trial Continues in New York City Court
Trump Hush Money Trial

The court heard from witnesses who talked about Michael Cohen, a long-time associate of Trump. They described Cohen in a negative way. Cohen’s former legal advisor said those descriptions were in the past.

Another witness, Gary Farro, said Cohen misled the bank about why he was opening an account. Cohen’s lawyer testified that a Playboy model sold her story to a media company instead of a news outlet to keep it from being published.

They also talked about a video where Trump made inappropriate comments. They said it changed how people viewed women who claimed they had affairs with Trump.

The trial will continue on Thursday.