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AP Business SummaryBrief at 2:41 p.m. ESTWASHINGTON — When Elon Musk first suggested a new effort to cut the size of government, Donald Trump didn’t seem to take it seriously. His eventual name for the idea sounded like a joke, too. It would be called the Department of Government Efficiency, or DOGE, a reference to an online meme featuring a surprised-looking dog from Japan. But now that Trump has won the election, Musk’s fantasy is becoming reality, with the potential to spark a constitutional clash over the balance of power in Washington. Trump put Musk, the world’s richest man, and Vivek Ramaswamy, an entrepreneur and former Republican presidential candidate, in charge of the new department, which is really an outside advisory committee that will work with people inside the government to reduce spending and regulations. Last week, Musk and Ramaswamy said they would encourage Trump to make cuts by refusing to spend money allocated by Congress, a process known as impounding. The proposal goes against a 1974 law intended to prevent future presidents from following in the footsteps of Richard Nixon, who held back funding that he didn’t like. “We are prepared for the onslaught from entrenched interests in Washington,” Musk and Ramaswamy wrote in an opinion piece in The Wall Street Journal. “We expect to prevail. Now is the moment for decisive action.” Trump has already suggested taking such a big step, saying last year that he would “use the president’s long-recognized impoundment power to squeeze the bloated federal bureaucracy for massive savings.” It would be a dramatic attempt to expand his powers, when he already will have the benefit of a sympathetic Republican-controlled Congress and a conservative-majority U.S. Supreme Court, and it could swiftly become one of the most closely watched legal fights of his second administration. “He might get away with it,” said William Galston, a senior fellow in governance studies at the Brookings Institution, a Washington-based think tank. “Congress’ power of the purse will turn into an advisory opinion.” Right now, plans for the Department of Government Efficiency are still coming into focus. The nascent organization has put out a call for “super high-IQ small-government revolutionaries willing to work 80+ hours per week on unglamorous cost-cutting.” Applicants are encouraged to submit their resumes through X, the social media company that Musk owns. In the Wall Street Journal, Musk and Ramaswamy provided the most detailed look yet at how they would operate and where they could cut. Some are longtime Republican targets, such as $535 million for the Corporation for Public Broadcasting. Other plans are more ambitious and could reshape the federal government. The two wrote that they would “identify the minimum number of employees required at an agency for it to perform its constitutionally permissible and statutorily mandated functions,” leading to “mass head-count reductions across the federal bureaucracy.” Civil service protections wouldn’t apply, they argue, because they wouldn’t be targeting specific people for political purposes. Some employees could choose “voluntary severance payments to facilitate a graceful exit.” But others would be encouraged to quit by mandating that they show up at the office five days a week, ending pandemic-era flexibility about remote work. The requirement “would result in a wave of voluntary terminations that we welcome.” Everett Kelley, president of the American Federation of Government Employees, said such cutbacks would harm services for Americans who rely on the federal government, and he suggested that Musk and Ramaswamy were in over their heads. “I don’t think they’re even remotely qualified to perform those duties,” he said. “That’s my main concern.” Kelley said his union, which represents 750,000 employees for the federal government and the city of Washington, D.C., was ready to fight attempts to slash the workforce. “We’ve been here, we’ve heard this kind of rhetoric before,” he said. “And we are prepared.” There was no mention in the Wall Street Journal of Musk’s previously stated goal of cutting $2 trillion from the budget, which is nearly a third of total annual spending. Nor did they write about “Schedule F,” a potential plan to reclassify federal employees to make them easier to fire. Ramaswamy once described the idea as the “mass deportation of federal bureaucrats out of Washington, D.C.” However, Musk and Ramaswamy said they would reduce regulations that they describe as excessive. They wrote that their department “will work with legal experts embedded in government agencies, aided by advanced technology,” to review regulations that run counter to two recent Supreme Court decisions that were intended to limit federal rulemaking authority. Musk and Ramaswamy said Trump could “immediately pause the enforcement of those regulations and initiate the process for review and rescission.” Chris Edwards, an expert on budget issues at the Cato Institute, said many Republicans have promised to reduce the size and role of government over the years, often to little effect. Sometimes it feels like every budget item and tax provision, no matter how obscure, has people dedicated to its preservation, turning attempts at cuts into political battles of attrition. “Presidents always seem to have higher priorities,” he said. “A lot of it falls to the wayside.” Although DOGE is scheduled to finish its work by July 4, 2026, Edwards said Musk and Ramaswamy should move faster to capitalize on momentum from Trump’s election victory. “Will it just collect dust on a shelf, or will it be put into effect?” Edwards said. “That all depends on Trump and where he is at that point in time.” Ramaswamy said in an online video that they’re planning regular “Dogecasts” to keep the public updated on their work, which he described as “a once-in-a-generation project” to eliminate “waste, fraud and abuse.” “However bad you think it is, it’s probably worse,” he said. House Republicans are expected to put Rep. Marjorie Taylor Greene, a Trump ally from Georgia, in charge of a subcommittee to work with DOGE, according to two people with knowledge of the plans who were not authorized to discuss them publicly. Greene and Rep. James Comer, the Kentucky Republican who chairs the House Oversight Committee, have already met with Ramaswamy, the two people said. Musk brought up the idea for DOGE while broadcasting a conversation with Trump on X during the campaign. “I think we need a government efficiency commission to say like, ‘Hey, where are we spending money that’s sensible. Where is it not sensible?’” Musk said. Musk returned to the topic twice, volunteering his services by saying “I’d be happy to help out on such a commission.” “I’d love it,” Trump replied, describing Musk as “the greatest cutter.” Musk has his own incentives to push this initiative forward. His companies, including SpaceX and Tesla, have billions of dollars in government contracts and face oversight from government regulators. After spending an estimated $200 million to support Trump’s candidacy, he’s poised to have expansive influence over the next administration. Trump even went to Texas last week to watch SpaceX test its largest rocket. DOGE will have an ally in Sen. Rand Paul, a Kentucky Republican who has railed against federal spending for years. He recently told Fox News that he sent “2,000 pages of waste that can be cut” to Musk and Ramaswamy. “I’m all in and will do anything I can to help them,” Paul said. Get local news delivered to your inbox!

Stock market today: Wall Street hits records despite tariff talk

NEW YORK (AP) — U.S. stocks rose to records Tuesday after Donald Trump’s latest talk about tariffs created only some ripples on Wall Street, even if they could roil the global economy were they to take effect. The S&P 500 climbed 0.6% to top the all-time high it set a couple weeks ago. The Dow Jones Industrial Average added 123 points, or 0.3%, to its own record set the day before, while the Nasdaq composite gained 0.6% as Microsoft and Big Tech led the way. Stock markets abroad mostly fell after President-elect Trump said he plans to impose sweeping new tariffs on Mexico, Canada and China once he takes office. But the movements were mostly modest. Stock indexes were down 0.1% in Shanghai and nearly flat in Hong Kong, while Canada’s main index edged down by less than 0.1%. Trump has often praised the use of tariffs , but investors are weighing whether his latest threat will actually become policy or is just an opening point for negotiations. For now, the market seems to be taking it more as the latter. The consequences otherwise for markets and the global economy could be painful. Unless the United States can prepare alternatives for the autos, energy products and other goods that come from Mexico, Canada and China, such tariffs would raise the price of imported items all at once and make households poorer, according to Carl Weinberg and Rubeela Farooqi, economists at High Frequency Economics. They would also hurt profit margins for U.S. companies, while raising the threat of retaliatory tariffs by other countries. And unlike tariffs in Trump’s first term, his latest proposal would affect products across the board. General Motors sank 9%, and Ford Motor fell 2.6% because both import automobiles from Mexico. Constellation Brands, which sells Modelo and other Mexican beer brands in the United States, dropped 3.3%. The value of the Mexican peso fell 1.8% against the U.S. dollar. Beyond the pain such tariffs would cause U.S. households and businesses, they could also push the Federal Reserve to slow or even halt its cuts to interest rates. The Fed had just begun easing its main interest rate from a two-decade high a couple months ago to offer support for the job market . While lower interest rates can boost the economy, they can also offer more fuel for inflation. “Many” officials at the Fed’s last meeting earlier this month said they should lower rates gradually, according to minutes of the meeting released Tuesday afternoon. The talk about tariffs overshadowed another mixed set of profit reports from U.S. retailers that answered few questions about how much more shoppers can keep spending. They’ll need to stay resilient after helping the economy avoid a recession, despite the high interest rates imposed by the Fed to get inflation under control. A report on Tuesday from the Conference Board said confidence among U.S. consumers improved in November, but not by as much as economists expected. Kohl’s tumbled 17% after its results for the latest quarter fell short of analysts’ expectations. CEO Tom Kingsbury said sales remain soft for apparel and footwear. A day earlier, Kingsbury said he plans to step down as CEO in January. Ashley Buchanan, CEO of Michaels and a retail veteran, will replace him. Best Buy fell 4.9% after likewise falling short of analysts’ expectations. Dick’s Sporting Goods topped forecasts for the latest quarter thanks to a strong back-to-school season, but its stock lost an early gain to fall 1.4%. Still, more stocks rose in the S&P 500 than fell. J.M. Smucker had one of the biggest gains and climbed 5.7% after topping analysts’ expectations for the latest quarter. CEO Mark Smucker credited strength for its Uncrustables, Meow Mix, Café Bustelo and Jif brands. Big Tech stocks also helped prop up U.S. indexes. Gains of 3.2% for Amazon and 2.2% for Microsoft were the two strongest forces lifting the S&P 500. All told, the S&P 500 rose 34.26 points to 6,021.63. The Dow gained 123.74 to 44,860.31, and the Nasdaq composite climbed 119.46 to 19,174.30. In the bond market, Treasury yields held relatively steady following their big drop from a day before driven by relief following Trump’s pick for Treasury secretary. The yield on the 10-year Treasury inched up to 4.29% from 4.28% late Monday, but it’s still well below the 4.41% level where it ended last week. In the crypto market, bitcoin continued to pull back after topping $99,000 for the first time late last week. It’s since dipped back toward $91,000, according to CoinDesk. It’s a sharp turnaround from the bonanza that initially took over the crypto market following Trump’s election. That boom had also appeared to have spilled into some corners of the stock market. Strategists at Barclays Capital pointed to stocks of unprofitable companies, along with other areas that can be caught up in bursts of optimism by smaller-pocketed “retail” investors. AP Business Writer Elaine Kurtenbach contributed. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. Get the latest local business news delivered FREE to your inbox weekly.As snow blankets the Colorado mountains, outdoor enthusiasts have a unique opportunity: the winter hut trip. Whether you’re a skier or a snowshoer, a hut trip offers an excellent opportunity to connect with nature while exploring the rugged beauty of the state’s wilderness and enjoying the warmth and camaraderie of a cozy mountain hut. From the towering peaks of the San Juan Mountains to the snow-covered trails in Summit County, Colorado’s winter hut trips provide an unforgettable experience for adventurers of all levels. Huts fill up fast, so check each property’s for pricing and availability. Located between Telluride and Silverton near the top of Ophir Pass in the San Juan Mountains, the Opus Hut was built for backcountry skiers, mountaineers, hikers and mountain bikers. At 11,700 feet, the hut sits at treeline with low-angle glades below and open slopes above. While intermediate powder skiing is available out the back door of the hut, owner Travis Mohrman said the terrain is best suited for experienced backcountry skiers. Mohrman estimates that 15% to 20% of the groups visiting Opus Hut do so with guides. “They’re not personally comfortable with the terrain or they’re not from the area,” Mohrman said. “They guides are knowledgeable about local conditions — what the snow is, what’s safe and what’s not safe.” The cabin accommodates up to 20 people in five rooms. Some visitors book the whole hut and bring friends and family, while others reserve available beds in unbooked rooms. The hut features solar-powered lighting and 110-volt outlets for charging electronic devices. It also has filtered drinking water, hot and cold tap water, and indoor composting toilets. It provides full bedding and clean sleeping bag liners. During winter, the hut has four to six employees who sleep in a separate cabin. They prepare meals with natural, organic, and, when possible, locally grown products. The hut accommodates vegetarian, vegan, and gluten-free diets–just be sure to inform the staff beforehand. It also offers beer, wine, and a limited selection of spirits for purchase. “You can travel much lighter if you don’t have to bring in your food,” said Mohrman, who took over the hut three years ago. “You don’t have to focus on the upkeep of being in the backcountry.” Reservations for Opus Hut open Aug. 1. “The winter fills up quick,” Mohrman said. “Every winter weekend books in the first five minutes.” Nestled at 11,200 feet in the San Juan National Forest, Campfire Ranch Red Mountain Pass is the perfect base for exploring world-class skiing, split boarding, snowshoeing, and ice climbing. Located between Silverton and Ouray, it’s is accessible during the winter via a half-mile backcountry over-snow approach. Campfire Ranch is an ideal choice for novices. While other Colorado hut systems require you to carry your own food, bring sleeping bags, and live off-grid, this one provides food service, solar-powered electricity, Wi-Fi, and bedding. The dog-friendly cabin accommodates eight people. “We took a hospitality approach to remove barriers to entry for people who want to have the experience but don’t have the gear or the knowledge,” said Katrin Meiusi, director of marketing for the properties. Campfire Ranch first opened a campground on the Taylor River in Almont near Crested Butte. RVs are not permitted at the campground, which is open from May to October. Amenities include unlimited firewood, clean bathrooms, and drinkable well water. The 38 backcountry huts managed by the non-profit 10th Mountain Division Hut Association are connected by 350 miles of trails among some of the tallest peaks in the lower 48 states. All huts, some of which accommodate up to 17 people, have kitchens with propane burners for cooking — propane is provided. They provide pots, pans, potholders, dishware, cooking and eating utensils, a percolator or French press for coffee, salt and pepper, paper towels, dish soap, hand sanitizer, cleaning supplies and trash bags. Some huts have ovens and propane grills. All huts provide lighting from on-site solar power, propane or a generator. A few huts also have outlets for charging small devices such as phones. The huts have either an outhouse or an indoor bathroom with toilet paper supplied. All huts include mattresses and pillows, but you must bring your sleeping bag and pillowcase. Summit Hut Association operates five backcountry huts open for winter from November to May. Francie’s and Janet’s cabins are also open for summer use from July to September. All huts have solar-powered lights, fully stocked kitchens, and wood-burning stoves. Francie’s, Janet’s, and Sisters’ cabins have saunas and indoor toilets. The association hosts its annual Backcountry Ball fundraiser in October at The Maggie on Peak to kick off the season. The event includes dinner, drinks, a silent auction and entertainment. Proceeds help maintain the network of backcountry cabins.NASSAU, Bahamas — Paige Bueckers scored 23 points on 9-of-13 shooting and No. 2 UConn never trailed Monday night as the Huskies beat Oregon State 71-52 at the Baha Mar Women’s Championship. Sarah Strong, the 2024 Naismith High School Player of the Year, had 13 points, eight rebounds, six steals and two blocks for UConn (5-0). Jana El Alfy had 12 points. Allie Ziebell scored seven of UConn's 20 second-quarter points and the Huskies took a 42-19 lead into halftime. AJ Marotte led the Beavers (1-5) with 17 points and Kelsey Rees scored 10. Takeaways Oregon State: The Beavers need a staple win. They have lost three games in a row and are winless against Division-I opponents this season. The Beavers lone win was an 80-52 victory over Division-II Northwest Nazarene in their home opener. UConn: The Huskies have too much talent for most teams. They are 3-0 all-time against the Beavers with each game coming at neutral sites. The first meeting between the programs was exactly 29 years ago, on Nov. 25, 1995. Key moment Bueckers, the reigning Big East player of the week, hit a jumper to open the scoring and added three 3-pointers as she scored 11 first-quarter points on 5-of-5 shooting and the Huskies jumped to a 22-7 lead heading into the second. Key stat Both teams shot 44% overall, but the Huskies attempted 19 more field goals than Oregon State. UConn had 11 steals, forced 24 OSU turnovers and had a 12-4 edge on the offensive glass. Connecticut outscored the Beavers 24-17 in points off turnovers and 12-2 in second-chance points. Up next Oregon State: Takes on Boston College on Wednesday in the third-place game. UConn: Plays No. 18 Mississippi in the title game on Wednesday.

Our community members are treated to special offers, promotions and adverts from us and our partners. You can check out at any time. More info Motherwell and Wishaw MSP Clare Adamson has urged unpaid carers to check their eligibility for financial support from Social Security Scotland. The call comes following the figures in the latest census, which show that there are 45,300 unpaid carers in North Lanarkshire. Ms Adamson also warned that many people who care for a friend or loved one do not think of themselves as a carer. The MSP added that it was important to register with a local carers’ organisation for advice and support. Earlier in November, Scotland’s Carer Support Payment, which replaces Carer’s Allowance in Scotland, was rolled out across the country, expanding eligibility to those who are in full-time education, and introducing backdating for some applicants. The Lanarkshire Live app is available to download now. Get all the news from your area – as well as features, entertainment, sport and the latest on Lanarkshire’s recovery from the coronavirus pandemic – straight to your fingertips, 24/7. The free download features the latest breaking news and exclusive stories, and allows you to customise your page to the sections that matter most to you. Head to the App Store and never miss a beat in Lanarkshire - iOS - Android This joins a suite of support for carers only available in Scotland, like the Young Carer Grant and Carer’s Allowance Supplement. Ms Adamson said: “The nationwide rollout of the Carer Support Payment is a big moment for Scotland. “There are 45,300 unpaid carers across North Lanarkshire and that figure is likely an underestimate. “Unpaid carers are performing critical roles in our community; it is a difficult and demanding role. I want to ensure that no one is missing out on financial support that they are entitled to. “The SNP developed Social Security Scotland with the principles of dignity, fairness and respect in its founding principles. The new Carer Support Payment improves on Carer’s Allowance by making those in full time education eligible and introducing backdating for some applicants. “So if you are caring for someone – a neighbour, friend, or loved one – please check your eligibility for extra support through Social Security Scotland. And ensure you are registered with a carers’ organisation.” You can apply for Carer Support Payment using the online form, on the phone, by post, or in person. Find out more about Carer Support Payment online at mygov.scot/carer-support-payment or call Social Security Scotland free on 0800 182 2222. *Don't miss the latest headlines from around Lanarkshire. Sign up to our newsletters here . And did you know Lanarkshire Live had its own app? Download yours for free here .

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Jon Coupal: New laws coming in the new year Californians need to know aboutNone

Rams looking at first, second downs to fix third-down issuesNoneNEW YORK (AP) — There's no place like home for the holidays. And that may not necessarily be a good thing. In the wake of the very contentious and divisive 2024 presidential election, the upcoming celebration of Thanksgiving and the ramp-up of the winter holiday season could be a boon for some — a respite from the events of the larger world in the gathering of family and loved ones. Hours and even days spent with people who have played the largest roles in our lives. Another chapter in a lifetime of memories. That's one scenario. For others, that same period — particularly because of the polarizing presidential campaign — is something to dread. There is the likelihood of disagreements, harsh words, hurt feelings and raised voices looming large. Those who make a study of people and their relationships to each other in an increasingly complex 21st-century say there are choices that those with potentially fraught personal situations can make — things to do and things to avoid — that could help them and their families get through this time with a minimum of open conflict and a chance at getting to the point of the holidays in the first place. For those who feel strongly about the election's outcome, and know that the people they would be spending the holiday feel just as strongly in the other direction, take the time to honestly assess if you're ready to spend time together in THIS moment, barely a few weeks after Election Day — and a time when feelings are still running high. The answer might be that you're not, and it might be better to take a temporary break, says Justin Jones-Fosu, author of “I Respectfully Disagree: How to Have Difficult Conversations in a Divided World.” “You have to assess your own readiness,” he says, “Each person is going be very different in this.” He emphasizes that it's not about taking a permanent step back. “Right now is that moment that we’re talking about because it’s still so fresh. Christmas may be different.” Keep focused on why why you decided to go in the first place, Jones-Fosu says. Maybe it’s because there’s a relative there you don’t get to see often, or a loved one is getting up in age, or your kids want to see their cousins. Keeping that reason in mind could help you get through the time. If you decide getting together is the way to go, but you know politics is still a dicey subject, set a goal of making the holiday a politics-free zone and stick with it, says Karl Pillemer, a professor at Cornell University whose work includes research on family estrangement. “Will a political conversation change anyone’s mind?" he says. “If there is no possibility of changing anyone’s mind, then create a demilitarized zone and don’t talk about it.” Let’s be honest. Sometimes, despite best efforts and intentions to keep the holiday gathering politics- and drama-free, there’s someone who’s got something to say and is going to say it. In that case, avoid getting drawn into it, says Tracy Hutchinson, a professor in the graduate clinical mental health counseling program at the College of William & Mary in Virginia. “Not to take the hook is one of the most important things, and it is challenging,” she says. After all, you don’t have to go to every argument you’re invited to. If you risk getting caught up in the moment, consider engaging in what Pillemer calls “forward mapping.” This involves thinking medium and long term rather than just about right now — strategy rather than tactics. Maybe imagine yourself six months from now looking back on the dinner and thinking about the memories you'd want to have. “Think about how you would like to remember this holiday,” he says. “Do you want to remember it with your brother and sister-in-law storming out and going home because you’ve had a two-hour argument?” Things getting intense? Defuse the situation. Walk away. And it doesn't have to be in a huff. Sometimes a calm and collected time out is just what you — and the family — might need. Says Hutchinson: “If they do start to do something like that, you could say, `I’ve got to make this phone call. I’ve got to go to the bathroom. I’m going to take a walk around the block.'"

While you’re popping champagne and toasting the new year, hundreds of recently enacted bills will go into effect. Here are a few you should know about. The minimum wage for all employers in California will increase to $16.50. We currently have the second highest unemployment rate of any state behind only Nevada. This increase will only make it worse, particularly for California’s youth and others just starting to join the workforce. Paychecks will be hit by a tax increase. The State Disability Insurance rate is increasing from 1.1 to 1.2 percent. As KCRA in Sacramento noted, “That means a couple or individual with $100,000 in taxable annual wages will have $100 more total withheld from their pay this upcoming year, or about $8 a month because of the tax increase, for example.” For property owners, several attempts to destroy your rights to protest new and higher water rates go into effect. Under Proposition 218, water agencies must send notices to customers ahead of time with information on how to protest the rate hike. If a majority protest, the rate increase can’t go into effect. But Assembly Bill 2257 creates a protest procedure separate from the notice required by Prop. 218 and appears merely to layer on added – and superfluous – requirements for the sole purpose of hindering taxpayers’ constitutional ability to approve or reject taxes. Another assault on property owner rights is Senate Bill 1072 because it could leave taxpayers without proper compensation for overcharges on their water bills by offering only future credits instead of actual refunds. There is a huge difference between a “credit” for future charges and an actual refund. If a taxpayer moves, how will he or she be compensated for the violation of constitutional rights if the agency merely applies the overcharge to reduce rates paid by others in the future? AB 1827 is another concern because it tries to add potentially unconstitutional charges to your water bill based on speculative factors like “maximum potential water use” and “peaking” factors. This is in direct contravention of Prop. 218 which provides that, “No fee or charge may be imposed for a service unless that service is actually used by, or immediately available to, the owner of the property in question. Fees or charges based on potential or future use of a service are not permitted.” Basing a charge on “maximum potential water use” clearly then is not permitted under Prop. 218. Further, in the absence of time-of-use technology, peaking factors are generally make-believe. Legal challenges to AB 1827 are a near certainty. Related Articles Opinion Columnists | Trump’s claim that we need ‘extreme vetting’ is extremely baseless Opinion Columnists | Year in review: From a republic to a ‘kakistocracy’ Opinion Columnists | Will Democrats fix their brand problem ahead of California’s gubernatorial election? Opinion Columnists | Susan Shelley: Too many so-called emergencies in the Golden State Opinion Columnists | Larry Wilson: The lost art of college students talking to each other Regarding your rights as a voter, there were attacks this year on direct democracy. Fortunately, many of those got left on the cutting room floor, but one that did pass and goes into effect this year, Senate Bill 1441, is very concerning. If a citizen-initiated recall, initiative or referendum is determined to have an insufficient number of valid signatures, the proponents have the right to review rejected signatures and the reason for the rejection. But SB 1441 sets an unreasonable 60-day time limit on the review process and adds a new requirement for proponents to pay the costs of the review, which could be hundreds of thousands of dollars. Nothing in the bill prevents a county from running out the clock by providing inadequate access. But that’s probably the intent. Was it all bad news from your California government this year? No, of course not. For everyone who has been waiting for Sacramento to finally address the pressing concerns of state residents, Gov. Gavin Newsom signed legislation giving the state three new official state symbols: the banana slug (state slug), Dungeness crab (state crustacean), and black abalone (state seashell). Don’t say they never did anything for you. Happy New Year! Jon Coupal is president of the Howard Jarvis Taxpayers Association.{ "@context": "https://schema.org", "@type": "NewsArticle", "dateCreated": "2024-12-17T21:54:31+02:00", "datePublished": "2024-12-17T21:54:31+02:00", "dateModified": "2024-12-17T21:54:29+02:00", "url": "https://www.newtimes.co.rw/article/22660/news/rwanda/rwandas-first-multiparty-politics-reflected-divisions-of-late-colonial-period", "headline": "Rwanda’s first multiparty politics reflected divisions of late colonial period", "description": "Rwanda’s colonial history is one marred with ambivalences. It is one of the worst socio-economic realities. Its philosophy was based on divide and...", "keywords": "", "inLanguage": "en", "mainEntityOfPage":{ "@type": "WebPage", "@id": "https://www.newtimes.co.rw/article/22660/news/rwanda/rwandas-first-multiparty-politics-reflected-divisions-of-late-colonial-period" }, "thumbnailUrl": "https://www.newtimes.co.rw/thenewtimes/uploads/images/2024/12/17/66658.jpg", "image": { "@type": "ImageObject", "url": "https://www.newtimes.co.rw/thenewtimes/uploads/images/2024/12/17/66658.jpg" }, "articleBody": "Rwanda’s colonial history is one marred with ambivalences. It is one of the worst socio-economic realities. Its philosophy was based on divide and rule. The indivisible Rwandan society, going by scientific parametres, had to be divided at any cost basing on concocted fallacies. It was to cost Rwandans so much. Political parties at the beginning lacked insight into real intentions of colonialism. In 1960, the transition from what PARMEHUTU called a feudal, colonialist and racist monarchy had become impossible. PARMEHUTU put forward the idea of two confederated regions, one for the Tutsi and the other for the Hutu. They drew examples from the Flemish and Walloons in Belgium. ALSO READ: A glance at socio-political chaos that followed Rudahigwa’s sudden death This was submitted to the United Nations and areas suitable for each group were proposed. To them, the Tutsi and the Hutu differed fundamentally. The advocates of two zones for each group centred on the idea that one group would be eliminated. The racial myth created by the colonialists for ulterior motives had gripped Rwandan politicians. This serialized narrative aimed at charting the objective history of Rwandans. Rwandans from time immemorial lived together intertwining and intermingling. Legend has it that Gihanga, the creator of Rwanda, crisscrossed the region and went up to Bunyabungo (in today’s DR Congo). Wherever he passed and lived he was welcome thanks to his civility and technological know-how. He would be given a daughter in marriage. ALSO READ: How circumstances overtook Kigeli V Ndahindurwa Gihanga was versed in metalwork, woodwork and pottery as well as in hunting, cattle rearing and fire making. He is believed to have had talents in leadership, technology and spirituality. Buhanga, in today’s Musanze District, is believed to have been the cradle of Rwanda nation-state. There he was with all the wives he got across his itinerary. Programmes for most political parties had similarities. The difference lay in internal autonomy and independence. UNAR party wanted independence from Belgian colonialists and with no strings attached. Internal autonomy which meant collaboration with Belgians was rejected. The other three parties wanted the democratization of the country first. Gitera saw independence as a witch hunt of whites. To him it was the same as bringing back supposed forced labour, exploitation and tyranny of the Tutsi. ALSO READ: Mutara III Rudahigwa became Belgian choice after Musinga’s disgrace Political parties began campaigns after the approval of the multiparty system. UNAR opposed colonialism. In the meeting of September 1959 held at Nyamirambo, its leaders discussed national unity, autonomy and independence. In the beginning, UNAR is said to have enjoyed success because of their political stand. This made most chiefs and sub-chiefs join the party. One R. Lemarchand, A French-American political scientist attributed UNAR’s success to nationalism, which united all Rwandans towards progress in all forms. In 1995 he was to write the book: “Rwanda: The Rationality of Genocide”. He will be of help in this series as we progress to project objective Rwandan history. UNAR met strong opposition from the trusteeship administration and to an extent the Catholic church. The Belgian colonial administration used all means to destabilize UNAR. Three influential chiefs in UNAR: M. Kayihura, P. Mungarulire and C. Rwangombwa were transferred maliciously. A pretext was hatched accusing them for having attended UNAR meeting when they were civil servants. The trusteeship administration sabotaged UNAR during campaigns. Bishops Bigirumwami and Perraudin are said to have warned Catholics against UNAR. UNAR thought that those who were not with them were against the country. By demanding immediate independence and breaking ties with the metropolitan power earned them being accused of collaboration with other African nationalists, hence their inclination to communism. Political party activities are yet in progress and more is to come as we move forward.", "author": { "@type": "Person", "name": "Peter Ruti" }, "publisher": { "@type": "Organization", "name": "The New Times", "url": "https://www.newtimes.co.rw/", "sameAs": ["https://www.facebook.com/TheNewTimesRwanda/","https://twitter.com/NewTimesRwanda","https://www.youtube.com/channel/UCuZbZj6DF9zWXpdZVceDZkg"], "logo": { "@type": "ImageObject", "url": "/theme_newtimes/images/logo.png", "width": 270, "height": 57 } }, "copyrightHolder": { "@type": "Organization", "name": "The New Times", "url": "https://www.newtimes.co.rw/" } }

Eastern Kentucky secures 77-72 win over Southern IllinoisWASHINGTON (Reuters) -A U.S. judge on Monday dismissed the federal criminal case accusing Donald Trump of attempting to overturn his 2020 election defeat after prosecutors moved to drop that prosecution and a second case against the president-elect, citing Justice Department policy against prosecuting a sitting president. The order from U.S. District Judge Tanya Chutkan puts an end to the federal effort to hold Trump criminally responsible for his attempts to hold onto power after losing the 2020 election, culminating in the Jan. 6, 2021 attack on the U.S. Capitol by a mob of his supporters. The move came after Special Counsel Jack Smith, the lead prosecutor overseeing both cases, moved to dismiss the election case and end his attempt to revive a separate case accusing Trump of illegally retaining classified documents when he left office in 2021 after his first term as president. It represents a big legal victory for the Republican president-elect, who won the Nov. 5 U.S. election and is set to return to office on Jan. 20. The Justice Department policy that the prosecutors cited dates back to the 1970s. It holds that a criminal prosecution of a sitting president would violate the U.S. Constitution by undermining the ability of the country's chief executive to function. Courts will still have to approve both requests from prosecutors. The prosecutors in a filing in the election subversion case said the department's policy requires the case to be dismissed before Trump returns to the White House. "This outcome is not based on the merits or strength of the case against the defendant," prosecutors wrote in the filing. Prosecutors in the documents case signaled they will still ask a federal appeals court to bring back the case against two Trump associates who had been accused of obstructing that investigation. Trump spokesman Steven Cheung hailed what he called "a major victory for the rule of law." Trump had faced criminal charges in four cases - the two brought by Smith and two in state courts in New York and Georgia. He was convicted in the New York case while the Georgia case, which also relates to his efforts to overturn the 2020 election, is in limbo. In a post on social media, Trump railed on Monday against the legal cases as a "low point in the History of our Country." The moves by Smith, who was appointed in 2022 by U.S. Attorney General Merrick Garland, represents a remarkable shift from the special prosecutor who obtained indictments against Trump in two separate cases accusing him of crimes that threatened U.S. election integrity and national security. Prosecutors acknowledged that the election of a president who faced ongoing criminal cases created an unprecedented predicament for the Justice Department. Chutkan left open the possibility that prosecutors could seek to charge Trump again after he leaves office, but prosecutors would likely face challenges bringing a case so long after conduct involved in the case happened. Trump pleaded not guilty in August 2023 to four federal charges accusing him of conspiring to obstruct the collection and certification of votes following his 2020 loss to Democrat Joe Biden. Trump, who as president will again oversee the Justice Department, was expected to order an end to the federal 2020 election case and to Smith's appeal in the documents case. Florida-based Judge Aileen Cannon, who Trump appointed to the federal bench, had dismissed the classified documents case in July, ruling that Smith was improperly appointed to his role as special counsel. Smith's office had been appealing that ruling and indicated on Monday that the appeal would continue as it relates to Trump personal aide Walt Nauta and Carlos De Oliveira, a manager at his Mar-a-Lago resort, who had been previously charged alongside Trump in the case. Both Nauta and De Oliveria have pleaded not guilty, as did Trump. In the 2020 election case, Trump's lawyers had previously said they would seek to dismiss the charges based on a U.S. Supreme Court ruling in July that former presidents have broad immunity from prosecution over official actions taken while in the White House. Trump denied wrongdoing in all cases and argued that the U.S. legal system had been turned against him to damage his presidential campaign. He vowed during the campaign that he would fire Smith if he returned to the presidency. Trump in May became the first former president to be convicted of a crime when a jury in New York found him guilty of felony charges relating to hush money paid to a porn star before the 2016 election. His sentencing in that case has been indefinitely postponed. The criminal case against Trump in Georgia state court involving the 2020 election is stalled. (Reporting by Andrew Goudsward. Additional reporting by Sarah N. Lynch and Doina Chiacu; Editing by Scott Malone, Jonathan Oatis, Will Dunham and Bill Berkrot)Eagle Point Credit Management LLC ("Eagle Point Credit" or the "Adviser"), a specialist credit asset manager with over $10 billion of assets under management, 1 announced that Eagle Point Institutional Income Fund (the "Fund") generated a net return of 9.9% over the 12-month period ending October 31, 2024. 2 In addition, the Fund's total assets, inclusive of available borrowings under a revolving credit facility, have exceeded $150 million. During the month of October 2024, the Fund completed its 28 th consecutive monthly distribution payment, which represented a 10.2% annualized distribution rate. 3 The Fund's net asset value per share as of October 31, 2024 was $9.96. The Fund's sources of financing include a revolving credit facility and term preferred stock, which trades on the New York Stock Exchange under the ticker symbol "EIIA." The Fund's primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation, by investing primarily in diversified pools of senior secured loans called collateralized loan obligations ("CLOs"). As of October 31, 2024, the Fund's portfolio of 74 CLO equity investments provided exposure to 1,365 different U.S. companies across 61 different industries. 4 The Fund is a non-traded closed-end fund registered under the Investment Company Act of 1940 and it currently offers its shares on a continuous basis via monthly closings. Please refer to the Fund's website at www.EPIIF.com for additional information. About Eagle Point Credit Management LLC Eagle Point Credit, based in Greenwich, Connecticut, is a specialist investment manager focused on income-oriented credit investments in niche and inefficient markets, including CLO Securities, Portfolio Debt Securities, 5 Regulatory Capital Relief transactions and Strategic Credit investments. As of September 30, 2024, Eagle Point Credit and its affiliates managed over $10 billion of assets under management (including committed but undrawn capital). Learn more about Eagle Point Credit at www.eaglepointcredit.com . Forward-Looking Statements This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the Fund's filings with the U.S. Securities and Exchange Commission ("SEC"). The Fund undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release. Securities Disclosure This press release is provided for informational purposes only, does not constitute an offer to sell securities of the Fund and is not a prospectus. Such offering is only made by the Fund's prospectus, which includes details as to the Fund's offering and other material information. Securities are offered through Eagle Point Securities LLC, a member of FINRA and SIPC, and an affiliate of Eagle Point Credit. Investing in the Fund involves risk of loss of some or all principal invested. Speak to your tax professional prior to investing. This is neither an offer to sell nor a solicitation to purchase any security. Please refer to the prospectus available at www.EPIIF.com for additional information about the Fund. An investor should consider the investment objectives, risks, and charges and expenses of the Fund carefully before investing. Risk Disclosures and Important Information The Fund is designed as a long-term investment, not a trading vehicle. Past performance is not indicative of, or a guarantee of, future performance. Shares of the Fund are not traded on an exchange and therefore the Fund's shares have no liquidity. The Fund invests a significant portion of its assets in CLO equity and junior debt securities; these may have more acute risks than other types of credit instruments. An investment in the Fund is speculative and entails substantial risk, including the possible loss of some or all of one's investment. There can be no assurance that the Fund's investment objectives will be achieved. An investment in the Fund is not appropriate for all investors and is not intended to be a complete investment program. The Fund utilizes leverage, which uses various financial instruments or borrowings to increase potential return on the Fund's investments. The use of leverage involves risk, including possible high volatility and declines of the Fund's NAV, as well as fluctuating dividends and distributions. The Fund invests primarily in below-investment grade or unrated securities, commonly called "high yield" or "junk" bonds. Such investments may not pay interest or repay principal when due. _______________________________ 1 As of September 30, 2024, includes committed but undrawn capital and assets managed by Eagle Point Credit Management LLC and certain of its affiliates. 2 Past performance is not indicative of, or a guarantee of, future performance. Total return reflects the percent change in NAV per share from the beginning of the period, plus the amount of any distribution per share declared in the period. Return calculation assumes reinvestment of distributions pursuant to the Fund's distribution reinvestment plan and is net of all Fund expenses, including general and administrative expenses, transaction related expenses, amortization of offering costs, management and incentive fees, and expense limitation being in effect during the performance periods (if any). The Fund charges a maximum upfront sales load of 6.75%. Total return does not reflect the Fund's upfront sales load. If reflected, the Fund's total return would have been lower. Return information is not a measure used under GAAP. Valuations based upon unaudited reports may not correspond to realized value and may not accurately reflect the price at which assets could be liquidated. Performance reflects certain expense limitation arrangements in effect during the periods shown. Absent these arrangements, the Fund's performance would have been lower. Certain expenses paid by Eagle Point Credit Management or its affiliates on the Fund's behalf are subject to reimbursement by the Fund for up to three years (which reimbursement would have the effect of reducing the Fund's performance). Performance does not reflect the impact of federal, state or local taxation to which an investor may be subject. 3 Annualized distribution rate reflects distributions paid during the month ending in October 2024 annualized and divided by the prior quarter end net asset value. The annualized distribution rate is not a guarantee of future returns and future performance may vary. The timing and frequency of distribution payments is not guaranteed. Such variance may be material and adverse, including the potential for full loss of principal and no distributions. In considering returns, investors should bear in mind that historical performance is not a guarantee, projection or prediction and is not indicative of future results. Actual net returns in any given year may be lower than the historical returns. Investment return and principal value of any investment will fluctuate and may be worth more or less than the amount initially invested. Distribution payments are not guaranteed. Distributions may be comprised of any combination of 1) net investment income and/or 2) net capital gain, and, if the Fund distributes an amount in excess of net investment income and net capital gains, a portion of such distribution will constitute a return of capital. A distribution comprised in whole or in part by a return of capital does not necessarily reflect the Fund's investment performance and should not be confused with "yield" or "income." A return of capital distribution may reduce the amount of investable funds. The actual components of the Fund's distributions for U.S. tax reporting purposes can only be finally determined as of the end of each fiscal year of the Fund and are thereafter reported to shareholders on Form 1099-DIV. 4 The information presented herein is on a look-through basis to the CLO equity held by the Fund as of October 31, 2024 (except as otherwise noted) and reflects the aggregate underlying exposure of the Fund based on the portfolios of those investments. The data is estimated and unaudited and is derived from CLO trustee reports received by the Fund relating to October 2024 and from custody statements and/or other information received from CLO collateral managers and other third party sources. Information relating to the market price of underlying collateral is as of month end; however, with respect to other information shown, depending on when such information was received, the data may reflect a lag in the information reported. As such, while this information was obtained from third party data sources, October 2024 trustee reports and similar reports, other than market price, it does not reflect actual underlying portfolio characteristics as of October 31, 2024 and this data may not be representative of current or future holdings. Industry categories are based on the S&P industry categorization of each obligor as reported in CLO trustee reports to the extent so reported. Certain CLO trustee reports do not report the industry category of all of the underlying obligors and where such information is not reported, it is not included in the summary look-through industry information shown. As such, the Fund's exposure to a particular industry may be higher than that shown if industry categories were available for all underlying obligors. In addition, certain underlying obligors may be re‐classified from time to time based on developments in their respective businesses and/or market practices. 5 Eagle Point Credit defines "Portfolio Debt Securities" primarily as debt and preferred equity securities or instruments (including debt and preferred securities which are convertible into common equity) issued by funds and investment vehicles, such as BDCs, registered closed-end investment companies, unregistered private funds, REITs and sponsors of such vehicles, to finance a portion of their underlying investment portfolios. View source version on businesswire.com: https://www.businesswire.com/news/home/20241121242368/en/ © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.