tg777
By REBECCA SANTANA WASHINGTON (AP) — President-elect Donald Trump has promised to end birthright citizenship as soon as he gets into office to make good on campaign promises aiming to restrict immigration and redefining what it means to be American. But any efforts to halt the policy would face steep legal hurdles. Birthright citizenship means anyone born in the United States automatically becomes an American citizen. It’s been in place for decades and applies to children born to someone in the country illegally or in the U.S. on a tourist or student visa who plans to return to their home country. It’s not the practice of every country, and Trump and his supporters have argued that the system is being abused and that there should be tougher standards for becoming an American citizen. But others say this is a right enshrined in the 14th Amendment to the Constitution, it would be extremely difficult to overturn and even if it’s possible, it’s a bad idea. Here’s a look at birthright citizenship, what Trump has said about it and the prospects for ending it: During an interview Sunday on NBC’s “Meet the Press” Trump said he “absolutely” planned to halt birthright citizenship once in office. “We’re going to end that because it’s ridiculous,” he said. Trump and other opponents of birthright citizenship have argued that it creates an incentive for people to come to the U.S. illegally or take part in “birth tourism,” in which pregnant women enter the U.S. specifically to give birth so their children can have citizenship before returning to their home countries. “Simply crossing the border and having a child should not entitle anyone to citizenship,” said Eric Ruark, director of research for NumbersUSA, which argues for reducing immigration. The organization supports changes that would require at least one parent to be a permanent legal resident or a U.S. citizen for their children to automatically get citizenship. Others have argued that ending birthright citizenship would profoundly damage the country. “One of our big benefits is that people born here are citizens, are not an illegal underclass. There’s better assimilation and integration of immigrants and their children because of birthright citizenship,” said Alex Nowrasteh, vice president for economic and social policy studies at the pro-immigration Cato Institute. In 2019, the Migration Policy Institute estimated that 5.5 million children under age 18 lived with at least one parent in the country illegally in 2019, representing 7% of the U.S. child population. The vast majority of those children were U.S. citizens. The nonpartisan think tank said during Trump’s campaign for president in 2015 that the number of people in the country illegally would “balloon” if birthright citizenship were repealed, creating “a self-perpetuating class that would be excluded from social membership for generations.” In the aftermath of the Civil War, Congress ratified the 14th Amendment in July 1868. That amendment assured citizenship for all, including Black people. “All persons born or naturalized in the United States and subject to the jurisdiction thereof, are citizens of the United States and of the State wherein they reside,” the 14th Amendment says. “No State shall make or enforce any law which shall abridge the privileges or immunities of citizens of the United States.” But the 14th Amendment didn’t always translate to everyone being afforded birthright citizenship. For example, it wasn’t until 1924 that Congress finally granted citizenship to all Native Americans born in the U.S. A key case in the history of birthright citizenship came in 1898, when the U.S. Supreme Court ruled that Wong Kim Ark, born in San Francisco to Chinese immigrants, was a U.S. citizen because he was born in the states. The federal government had tried to deny him reentry into the county after a trip abroad on grounds he wasn’t a citizen under the Chinese Exclusion Act. But some have argued that the 1898 case clearly applied to children born of parents who are both legal immigrants to America but that it’s less clear whether it applies to children born to parents without legal status or, for example, who come for a short-term like a tourist visa. “That is the leading case on this. In fact, it’s the only case on this,” said Andrew Arthur, a fellow at the Center for Immigration Studies, which supports immigration restrictions. “It’s a lot more of an open legal question than most people think.” Some proponents of immigration restrictions have argued the words “subject to the jurisdiction thereof” in the 14th Amendment allows the U.S. to deny citizenship to babies born to those in the country illegally. Trump himself used that language in his 2023 announcement that he would aim to end birthright citizenship if reelected. Trump wasn’t clear in his Sunday interview how he aims to end birthright citizenship. Asked how he could get around the 14th Amendment with an executive action, Trump said: “Well, we’re going to have to get it changed. We’ll maybe have to go back to the people. But we have to end it.” Pressed further on whether he’d use an executive order, Trump said “if we can, through executive action.” He gave a lot more details in a 2023 post on his campaign website . In it, he said he would issue an executive order the first day of his presidency, making it clear that federal agencies “require that at least one parent be a U.S. citizen or lawful permanent resident for their future children to become automatic U.S. citizens.” Related Articles National Politics | In promising to shake up Washington, Trump is in a class of his own National Politics | Election Day has long passed. In some states, legislatures are working to undermine the results National Politics | Trump taps his attorney Alina Habba to serve as counselor to the president National Politics | With Trump on the way, advocates look to states to pick up medical debt fight National Politics | Trump taps forceful ally of hard-line immigration policies to head Customs and Border Protection Trump wrote that the executive order would make clear that children of people in the U.S. illegally “should not be issued passports, Social Security numbers, or be eligible for certain taxpayer funded welfare benefits.” This would almost certainly end up in litigation. Nowrasteh from the Cato Institute said the law is clear that birthright citizenship can’t be ended by executive order but that Trump may be inclined to take a shot anyway through the courts. “I don’t take his statements very seriously. He has been saying things like this for almost a decade,” Nowrasteh said. “He didn’t do anything to further this agenda when he was president before. The law and judges are near uniformly opposed to his legal theory that the children of illegal immigrants born in the United States are not citizens.” Trump could steer Congress to pass a law to end birthright citizenship but would still face a legal challenge that it violates the Constitution. Associated Press reporter Elliot Spagat in San Diego contributed to this report.Kendrick Lamar's new album does not feature Taylor Swift after claims he was working with his Bad Blood partner again Have YOU got a story? Email tips@dailymail.com By AMY LAMARE FOR DAILYMAIL.COM Published: 20:58, 22 November 2024 | Updated: 21:16, 22 November 2024 e-mail View comments Kendrick Lamar surprised and delighted fans when he dropped his latest album GNX today out of nowhere. The 12-track album features a slew of contributors including SZA , Jack Antonoff, Kamasi Washington among others. He dropped the album with no promos or fanfare, just dropping a single image on Instagram and X (formerly Twitter ) to let fans know. On the new album Kendrick, 37, addresses the Lil Wayne Super Bowl snub and debuts a new chapter of the ongoing diss track back-and-forth battle with Drake , called Heart Pt. 6. One collaboration that has been highly rumored is one with Taylor Swift , whom he worked with on Bad Blood. Kendrick's work with Antonoff -who produced Swift's Midnights and The Tortured Poets Department - gave fans the hope that another song could be in the works. But she is not on the album. Kendrick Lamar surprised and delighted fans when he dropped his latest album GNX today out of nowhere One collaboration that has been highly rumored is one with Taylor Swift , whom he worked with on Bad Blood. But she is not on the album; seen November 14 DJ Snake also threw fuel on that fire earlier this week, saying Swift and Lamar have teamed up for a new song. But alas, that is not the case, Swift is not on the album, however, it hasn't dampened fans' excitement and enthusiasm with many calling Lamar 'The GOAT.' What fans are especially delighted with is the surprise drop of the whole new album seemingly out of nowhere – no teasers, no advance promotion, no taking over of his social profiles. Read More BREAKING NEWS Kendrick Lamar announces he's headlining the Super Bowl LIX halftime show It was a very Ninja move for the Not Like Us singer. On the track Wacced Out Murals, Kendrick addresses his Super Bowl Halftime appearance and how many fans feel the job should have gone to Lil Wayne since the game is being played in his hometown of New Orleans. 'I used to bump Tha Carter 3, I held my Rollie chain proud / Irony, I think my hard work let Lil Wayne down,' he raps. 'Got the Super Bowl and Nas the only one congratulate me, all these n*****s agitated, I’m just glad it’s on they faces.' WIth SZA's inclusion on the songs Luther and Gloria, she has also now rumored to be as a performer for Lamar's Super Bowl Halftime show, according to a fan account on X. One fan took to X to list the Humble rapper's accomplishments, summing it up with calling him the 'Man of the Year,' while another fan countered that, calling Lamar the 'man of the decade.' The 12-track album features a slew of contributors including SZA , Jack Antonoff, Kamasi Washington among others He dropped the album with no promos or fanfare, just dropping a single image on Instagram and X (formerly Twitter ) to let fans know On the new album Kendrick, 37, addresses the Lil Wayne Super Bowl snub and debuts a new chapter of the ongoing diss track battle with Drake , called Heart Pt. 6. Seen on June 22, 2024 What fans are especially delighted with is the surprise drop of the whole new album seemingly out of nowhere. Seen here at the 2023 Met Gala One fan took to X to list the Humble rapper's accomplishments, summing it up with calling him the 'Man of the Year' Another fan countered that, calling Lamar the 'man of the decade' One user wrote, 'Kendrick completely ignoring Drake’s diss track and dropping the Heart Pt. 6 anyways is frying me,' and added a video of a man laughing Many fans brought up Drake in their comments, adding that Kendrick had won the rap battle and Drake was cowering in shame. One user wrote, 'Kendrick completely ignoring Drake’s diss track and dropping the Heart Pt. 6 anyways is frying me,' and added a video of a man laughing. Dodger Blue is another song on GNX, which pays homage to the 2024 World Series Champions and features a lyric all Angelenos can relate to. 'Don’t say you hate L.A. when you don’t travel past the 10.' Lil Wayne SZA Drake Taylor Swift Share or comment on this article: Kendrick Lamar's new album does not feature Taylor Swift after claims he was working with his Bad Blood partner again e-mail Add comment
Kagro in the Morning podcast (AUDIO): Monday, December 23, 2024Mumbai: With India emerging as one of the top targets for cyber-attacks, the Defence Research and Development Organisation (DRDO) is prioritising advancements in cyber defence and cyber deterrence, DRDO chairman Samir Kamat said on Tuesday during his address at Techfest, the annual science and technology festival of the Indian Institute of Technology (IIT) Bombay. “Cyber warfare is continuous. It is not a declared war; it happens every day. India is among the most attacked countries in the world,” said Kamat. He compared cyber security to the strategic nuclear domain and emphasised the dual importance of cyber defence and cyber deterrence, saying, “You need deterrence capabilities to discourage attacks. Both cyber defence and deterrence are crucial, and this is where young minds can contribute significantly.” The DRDO chairman said all future battles would be network-centric and technologies like satellite communication and software-defined radios would play a pivotal role in ensuring a decisive edge. “Sensors and shooters may operate from different locations, but data must flow seamlessly,” he said. Speaking about DRDO’s initiatives to foster innovation, Kamat said that in 2020, the organisation launched five ‘Young Scientists Laboratories’ focusing on cutting-edge technologies like artificial intelligence, quantum technologies, cognitive technologies, asymmetric technologies, and smart materials. He also spoke about DRDO’s efforts to develop next-generation platforms like the Advanced Medium Combat Aircraft (AMCA), a fifth-generation stealth aircraft featuring internal weapon bays that can operate in real-time during combat. The DRDO chairman referred to ongoing global conflicts, saying disruptive technologies were transforming warfare. “Unless we quickly adapt to these technologies, we risk falling behind. My goal is to show where the world is heading in defence research and development and inspire some of you to join us in this journey,” he said. One of the key areas identified by DRDO for future development is underwater domain awareness. “Detecting submarines at depths beyond 200 metres remains a significant challenge. Current technologies rely on acoustics, but emerging methods, such as space-based sensors using magnetic anomalies caused by submarine movements, show promise. Developing capabilities in this area will be a major focus for us,” he said. Eagle robot takes centre stage IIT Bombay’s Techfest 2024, which commenced on Tuesday, features an impressive array of lectures, exhibitions, and technological innovations from both Indian and international developers. It aims to inspire young minds and provide a platform for collaboration in fields like artificial intelligence, robotics, and sustainable technology. Among the highlights at the three-day festival is Eagle Robot, a teaching assistant created entirely in India by Eagle Robot Lab. Currently deployed in schools across Maharashtra, Karnataka, and Telangana, the robot assists students by answering their questions accurately in multiple languages, including English, Hindi, Marathi, Tamil, and Bengali. “Eagle Robot is revolutionising classroom learning by enabling seamless interaction in domestic and foreign languages. Around 40 robots are operational in schools across three states,” said Vignesh Rao, director of Eagle Robot Lab. The company plans to launch an upgraded version named Eagle 7 by February 2025. Another major attraction at the festival is the Unitree G1 humanoid robot from China, which is making its first appearance in India. Known for its advanced artificial intelligence capabilities and sustainable design, the humanoid robot has garnered significant global attention.NEW YORK (AP) — In a string of visits, dinners, calls, monetary pledges and social media overtures, big tech chiefs — including Apple's Tim Cook, OpenAI’s Sam Altman, Meta’s Mark Zuckerberg and Amazon’s Jeff Bezos — have joined a parade of business and world leaders in trying to improve their standing with President-elect Donald Trump before he takes office in January. “The first term, everybody was fighting me,” Trump said in remarks at Mar-a-Lago . “In this term, everybody wants to be my friend.” Tech companies and leaders have now poured millions into his inauguration fund, a sharp increase — in most cases — from past pledges to incoming presidents. But what does the tech industry expect to gain out of their renewed relationships with Trump? A clue to what the industry is looking for came just days before the election when Microsoft executives — who’ve largely tried to show a neutral or bipartisan stance — joined with a close Trump ally, venture capitalist Marc Andreessen, to publish a blog post outlining their approach to artificial intelligence policy. “Regulation should be implemented only if its benefits outweigh its costs,” said the document signed by Andreessen, his business partner Ben Horowitz, Microsoft CEO Satya Nadella and the company's president, Brad Smith. They also urged the government to back off on any attempt to strengthen copyright laws that would make it harder for companies to use publicly available data to train their AI systems. And they said, “the government should examine its procurement practices to enable more startups to sell technology to the government.” Trump has pledged to rescind President Joe Biden’s sweeping AI executive order, which sought to protect people’s rights and safety without stifling innovation. He hasn’t specified what he would do in its place, but his campaign said AI development should be “rooted in Free Speech and Human Flourishing.” Trump's choice to head the Interior Department, North Dakota Gov. Doug Burgum, has spoken openly about the need to boost electricity production to meet increased demand from data centers and artificial intelligence. “The AI battle affects everything from defense to healthcare to education to productivity as a country,′′ Burgum said on Nov. 15, referring to artificial intelligence. “And the AI that’s coming in the next 18 months is going to be revolutionary. So there’s just a sense of urgency and a sense of understanding in the Trump administration′′ to address it. Demand for data centers ballooned in recent years due to the rapid growth of cloud computing and artificial intelligence, and local governments are competing for lucrative deals with big tech companies. But as data centers begin to consume more resources, some residents are pushing back against the world’s most powerful corporations over concerns about the economic, social and environmental health of their communities. “Maybe Big Tech should buy a copy of ‘The Art of The Deal’ to figure out how to best negotiate with this administration,” suggested Paul Swanson, an antitrust attorney for the law firm Holland & Hart. “I won’t be surprised if they find ways to reach some accommodations and we end up seeing more negotiated resolutions and consent decrees.” Although federal regulators began cracking down on Google and Facebook during Trump’s first term as president — and flourished under Biden — most experts expect his second administration to ease up on antitrust enforcement and be more receptive to business mergers. Google may benefit from Trump’s return after he made comments on the campaign trail suggesting a breakup of the company isn’t in the U.S. national interest, after a judge declared its search engine an illegal monopoly . But recent nominations put forward by his transition team have favored those who have been critical of Big Tech companies, suggesting Google won’t be entirely off the hook. Cook’s notoriously rocky relationship with the EU can be traced back to a 2016 ruling from Brussels in a tax case targeting Apple. Cook slammed the bloc’s order for Apple to pay back up to 13 billion euros ($13.7 billion) in Irish back taxes as “total political crap.” Trump, then in his first term as president, piled on, referring to the European Commissioner Margrethe Vestager, who was spearheading a campaign on special tax deals and a crackdown on Big Tech companies, as the “tax lady” who “really hates the U.S.” Brussels was eventually vindicated after the bloc’s top court rejected Apple’s appeal this year, though it didn’t stop Cook from calling Trump to complain, Trump recounted in a podcast in October. Trump hosted Cook for a Friday evening dinner at the president-elect’s Mar-a-Lago resort, according to a person familiar with the matter who was not authorized to comment publicly. Neither Apple nor the Trump transition team has commented on the nature of their discussions. Altman , Amazon and Meta all pledged to donate $1 million each to Trump’s inaugural fund. During his first term, Trump criticized Amazon and railed against the political coverage at The Washington Post, which billionaire Bezos owns. Meanwhile, Bezos had criticized some of Trump’s past rhetoric. In 2019, Amazon also argued in a court case that Trump’s bias against the company harmed its chances of winning a $10 billion Pentagon contract. More recently, Bezos has struck a more conciliatory tone. He recently said at The New York Times’ DealBook Summit in New York that he was “optimistic” about Trump’s second term, while also endorsing president-elect’s plans to cut regulations. The donation from Meta came just weeks after Zuckerberg met with Trump privately at Mar-a-Lago. During the 2024 campaign, Zuckerberg did not endorse a candidate for president, but voiced a more positive stance toward Trump. Earlier this year, he praised Trump’s response to his first assassination attempt. Still, Trump in recent months had continued to attack Zuckerberg publicly. And Altman, who is in a legal dispute with AI rival Elon Musk, has said he is “not that worried” about the Tesla CEO’s influence in the incoming administration. Musk, an early OpenAI investor and board member, sued the artificial intelligence company earlier this year alleging that the maker of ChatGPT betrayed its founding aims of benefiting the public good rather than pursuing profits.
AP Trending SummaryBrief at 5:46 p.m. ESTMikaela Shiffrin suffers abrasion on hip during crash on final run of World Cup giant slalomCOLLEGE STATION, Texas — Quintrevion Wisner ran for a career-high 186 yards and Quinn Ewers threw a touchdown pass to lead No. 3 Texas to a 17-7 win over 20th-ranked archrival Texas A&M on Saturday night, sending the Longhorns to the Southeastern Conference championship game. Texas (11-1, 7-1 SEC, No. 3 CFP) will face No. 6 Georgia next Saturday in Atlanta for the SEC title, with the winner getting a first-round bye in the 12-team College Football Playoff. The highly anticipated return of this rivalry, which dates to the 1890s, had all the hype of a heavyweight title bout. It looked to be headed for a blowout after Texas raced to a 17-0 halftime lead. But Ewers turned the ball over in the red zone on consecutive possessions to keep the Aggies in the game, the first giveaway an interception that Will Lee III returned 93 yards for a touchdown. Texas A&M (8-4, 5-3, No. 20 CFP) had a shot to cut the lead to three with about 4 1/2 minutes remaining, but Ethan Burke dropped Amari Daniels for a 3-yard loss on fourth-and-goal from the 1. The Longhorns stopped the Aggies on three fourth downs on the night. Backup quarterback Arch Manning ran for a score early to help Texas get its 11th straight win on an opponent’s home field and its fifth consecutive victory overall since a 30-15 home loss to Georgia. The Longhorns get a rematch next week. The crowd of 109,028 included Texas superfan Matthew McConaughey, A&M Heisman Trophy winner Johnny Manziel, former Saints quarterback Drew Brees and Texas Gov. Greg Abbott. Texas running back Quintrevion Wisner (26) is tackled by Texas A&M defensive back Will Lee III (26) after a catch and run during the first quarter of an NCAA college football game Saturday, Nov. 30, 2024, in College Station, Texas. Credit: AP/Sam Craft DJ Hicks tipped the pass that Lee intercepted and returned 93 yards for the touchdown to cut the lead to 17-7 with about six minutes left in the third quarter. The Aggies' defense came up big again on the next possession when Cashius Howell stripped the ball from Ewers and it was recovered by Taurean York at the A&M 11 near the end of the third. Texas A&M failed to cash in on that error and punted. The Aggies blocked a punt by the Longhorns on their next drive to get the ball back in the red zone. But the Longhorns’ defense secured the win after Texas failed to score after halftime. The Longhorns made it 7-0 when a video review confirmed that Manning scored on a 15-yard run on fourth-and-2 with about three minutes left in the first quarter. It capped a 93-yard drive that started after Michael Taaffe intercepted Reed to give Texas at least one takeaway in 20 straight games. Texas head coach Steve Sarkisian, center left, reacts as his team recovers a fumble late in the fourth quarter of an NCAA college football game against Texas A&M, Saturday, Nov. 30, 2024, in College Station, Texas. Credit: AP/Sam Craft Ewers connected with Jaydon Blue on a 7-yard TD pass that pushed the lead to 14-0 with about eight minutes left in the second. It was initially ruled an incomplete pass, but a review showed he had a foot in bounds for the score. Matthew Golden had a 44-yard reception on that drive. The scene around Kyle Field before the game was almost as entertaining as the game itself. Former A&M coach R.C. Slocum used a miniature chainsaw to saw the horns off a longhorn that tailgaters were cooking across from the stadium. The university police said a man riding a horse and another riding a longhorn while holding a dog and wearing a 10-gallon hat were asked to leave campus hours before the game. Police also said two men “wearing reflective vests and hard hats entered the stadium with fake construction credentials” and were arrested for criminal trespass. The takeaway Texas will need to clean up its mistakes be more consistent on offense as it heads into the conference title game and likely the playoff. Up next Texas moves on to face the Bulldogs. The Aggies wait to see which bowl game they’ll play in to wrap up another disappointing season.
PITTSBURGH (AP) — A hamstring injury managed to do the one thing to George Pickens that nobody else has during the Pittsburgh Steelers wide receiver's three eventful years in the NFL, Pickens included. It kept him quiet. Temporarily anyway. Pickens missed the first game of his career on Sunday, watching from the sideline in Pittsburgh's 27-14 win over Cleveland that showcased the team's receivers group runs deeper than the unit's talented if occasionally petulant star. Instead of a reunion with Browns defensive back Greg Newsome II just over two weeks after the two spent the final play of Cleveland's victory on Nov. 21 pushing and shoving into a restraining wall — which led to a war of words between the two in the aftermath and run-up to the rematch — Pickens watched from the sideline as the players who have taken a back seat stepped to the forefront. Van Jefferson caught one of Russell Wilson's two touchdown passes. Mike Williams made his first grab in a month. Scotty Miller saw his most extensive playing time since September. None of them have Pickens' ability. For an afternoon anyway, they made sure it didn't matter as the Steelers (10-3) won comfortably as Wilson spread his 15 completions to eight players, a democratic approach that is becoming the norm. “Just knowing that it can come to you at any moment is a fun feeling as a playmaker,” said Miller, who had three catches for 38 yards, including a leaping sideline grab in the fourth quarter. “And it also means the defense can't focus on one player. They’ve got to guard all of (us).” Even if Pickens' absence came as a bit of a surprise, even to his teammates. Tight end Pat Freiermuth found out when he checked his phone in the locker room. His father had sent him a text message that Pittsburgh's leading receiver was out with a hamstring issue that forced him to miss practice Friday. After a shaky start in which the offense looked out of sorts — the Steelers had four three-and-outs in their first five drives — Wilson settled in and the players who have found themselves on the fringes of the depth chart were on the field in important moments. “We have so much confidence in everybody,” Wilson said. “We're having fun, enjoying the process, working our tails off every day.” And they're winning, one of the major reasons that it has been easier for Williams to stomach the fact he has become a role player for the first time in his career. His first catch with Pittsburgh just days after being acquired from the New York Jets was an over-the-shoulder game-winning touchdown grab in Washington. Yet Williams has served as a spectator or a blocker for most of the last month. He has tried to stay ready, and it showed when he made a leaping one-handed snag in the third quarter for a 20-yard gain that set up Wilson's touchdown pass to Freiermuth. “They was (winning) before I got here,” Williams said. “So for me, I just got to show up and when I need to come out and make a play, make a play.” It's a selfless approach that has permeated the offense during a season in which the Steelers (10-3) have surprised everyone but themselves. “The strength of the pack is the pack," Tomlin said. “We've got a bunch of guys that want to be the reasons why we're successful.” The supremely confident Pickens is part of that pack, though he often stands apart for a variety of reasons, not all of them good. Pickens has found himself in the spotlight regularly since being taken in the second round in 2022, not always for the right reasons . Tomlin has grown weary recently of fielding questions about Pickens’ actions. Tomlin said after a victory over Cincinnati that Pickens needs to “grow up, and grow up in a hurry” after Pickens drew a pair of unsportsmanlike conduct penalties against the Bengals for post-catch celebrations, actions that earned him another set of fines from the league. Still, Pickens figured to be in the lineup on Sunday even after being listed as “questionable” on Friday's practice report. When the team made him inactive, it caught the Browns a little off guard. “I was a little surprised,” Newsome said. “I mean, especially when you do a lot of back-and-forth talking and things like that.” Pittsburgh's offense found a way anyway. And the Steelers did it drama-free for once. “We believe in our group,” Tomlin said. “I know I've said that to you guys repeatedly. Maybe you'll start believing me.” ___ AP NFL: https://apnews.com/hub/NFL The Associated PressDavid Sacks seen bringing ‘on the ground’ experience to AI’s global challenges
Shares of Forum Energy Technologies, Inc. (FET) rose nearly 10% on Monday after the company announced a share repurchase program and the completion of sale-leaseback transactions. Forum Energy services the oil, natural gas, industrial, and renewable energy industries, providing value-added solutions that increase the safety and efficiency of energy exploration and production. The company said its board of directors has authorized a program to repurchase up to $75 million worth outstanding shares of its common stock. The firm said that under the terms of the company’s outstanding senior secured bonds, share repurchases are subject to a leverage ratio of 1.5x. “Until such time as FET’s Leverage Ratio is less than 1.5x, the company will not repurchase its common stock,” it clarified. Meanwhile, the firm also said that in the fourth quarter, it completed selling two manufacturing facilities in Texas. Net proceeds from the sale totaled approximately $20 million, it added. Forum Energy said the properties remain an integral part of its operations, and long-term lease agreements were executed in connection with the transaction. CEO Neal Lux noted that the firm is committed to maintaining conservative net leverage by using a meaningful portion of its free cash flow to reduce debt further. "In addition, FET is focused on returning cash to its shareholders. The size of our share repurchase program reflects our confidence to generate consistent free cash flow in 2025 and beyond,” he said. Retail chatter on Stocktwits indicated optimism on the stock. Despite the rally on Monday, Forum Energy shares have lost over 30% since the beginning of the year. For updates and corrections, email newsroom[at]stocktwits[dot]com.<
