NEW YORK (AP) — The huge rally for U.S. stocks lost momentum on Thursday as Wall Street counted down to a big jobs report that’s coming on Friday. The crypto market had more action, and bitcoin briefly burst to a record above $103,000 before pulling back. The S&P 500 slipped 0.2% from the all-time high it had set the day before, its 56th of the year so far, to shave a bit off what’s set to be one of its best years of the millennium . The Dow Jones Industrial Average fell 248 points, or 0.6%, while the Nasdaq composite slipped 0.2% from its own record set the day before. Bitcoin powered above $100,000 for the first time the night before, after President-elect Donald Trump chose Paul Atkins, who's seen as a crypto advocate, as his nominee to head the Securities and Exchange Commission. The cryptocurrency has climbed dramatically from less than $70,000 on Election Day, but it fell back as Thursday progressed toward $99,000, according to CoinDesk. Sharp swings for bitcoin are nothing new, and they took stocks of companies enmeshed in the crypto world on a similar ride. After rising as much as 9% in early trading, MicroStrategy, a company that’s been raising cash just to buy bitcoin, swung to a loss of 4.8%. Crypto exchange Coinbase Global fell 3.1% after likewise erasing a big early gain. Elsewhere on Wall Street, stocks of airlines helped lead the way following the latest bumps up to financial forecasts from carriers. American Airlines Group soared 16.8% after saying it’s making more in revenue during the last three months of 2024 than it expected, and it will likely make a bigger profit than it had earlier forecast. The airline also chose Citi to be its exclusive partner for credit cards that give miles in its loyalty program. That should help its cash coming in from co-branded credit card and other partners grow by about 10% annually. Southwest Airlines climbed 2% after saying it’s seeing stronger demand from leisure travelers than it expected. It also raised its forecast for revenue for the holiday traveling season. On the losing end of Wall Street was Synposys, which tumbled 12.4%. The supplier for the semiconductor industry reported better profit for the latest quarter than analysts expected, but it also warned of “continued macro uncertainties” and gave a forecast for revenue in the current quarter that fell short of some analysts’ estimates. American Eagle Outfitters fell even more, 14.3%, after the retailer said it’s preparing for “potential choppiness” outside of peak selling periods. It was reminiscent of a warning from Foot Locker earlier in the week and raised more concerns about how resilient U.S. shoppers can remain. Solid spending by U.S. consumers has been one of the main reasons the U.S. economy has avoided a recession that earlier seemed inevitable after the Federal Reserve hiked interest rates to crush inflation. But shoppers are now contending with still-high prices and a slowing job market . This week’s highlight for Wall Street will be Friday’s jobs report from the U.S. government, which will show how many people employers hired and fired last month. A report on Thursday said the number of U.S. workers applying for unemployment benefits rose last week but remains at historically healthy levels. Expectations are high that the Fed will cut its main interest rate again when it meets in two weeks. The Fed began easing its main interest rate from a two-decade high in September, hoping to offer more support for the job market. In the bond market, the yield on the 10-year Treasury edged down to 4.17% from 4.18% late Wednesday. The S&P 500 fell 11.38 points to 6,075.11. The Dow sank 248.33 to 44,765.71, and the Nasdaq composite lost 34.86 to 19,700.26. In stock markets abroad, indexes were mostly calm in Europe after far-right and left-wing lawmakers in France joined together to vote on a no-confidence motion that will force Prime Minister Michel Barnier and his Cabinet to resign. The CAC 40 index in Paris added 0.4%. In South Korea, the Kospi fell 0.9% to compound its 1.4% decline from the day before. President Yoon Suk Yeol was facing possible impeachment after he suddenly declared martial law on Tuesday night. He revoked the martial law declaration six hours later. Crude oil prices slipped after eight members of the OPEC+ alliance of oil exporting countries decided to put off increasing oil production. AP Business Writers Yuri Kageyama and Matt Ott contributed.Algert Global LLC Makes New $851,000 Investment in Theravance Biopharma, Inc. (NASDAQ:TBPH)
Austin Wealth Management LLC grew its stake in shares of Amazon.com, Inc. ( NASDAQ:AMZN – Free Report ) by 0.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,758 shares of the e-commerce giant’s stock after buying an additional 66 shares during the period. Austin Wealth Management LLC’s holdings in Amazon.com were worth $2,139,000 at the end of the most recent reporting period. A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HM Payson & Co. lifted its holdings in Amazon.com by 45.9% in the 3rd quarter. HM Payson & Co. now owns 784,662 shares of the e-commerce giant’s stock worth $146,206,000 after purchasing an additional 246,999 shares in the last quarter. Oldfather Financial Services LLC raised its position in shares of Amazon.com by 5.3% during the third quarter. Oldfather Financial Services LLC now owns 2,237 shares of the e-commerce giant’s stock valued at $417,000 after buying an additional 113 shares during the last quarter. Bank Hapoalim BM lifted its holdings in shares of Amazon.com by 14.7% in the third quarter. Bank Hapoalim BM now owns 28,869 shares of the e-commerce giant’s stock worth $5,379,000 after buying an additional 3,699 shares in the last quarter. Meitav Investment House Ltd. boosted its position in shares of Amazon.com by 10.4% during the third quarter. Meitav Investment House Ltd. now owns 840,350 shares of the e-commerce giant’s stock worth $155,954,000 after acquiring an additional 79,206 shares during the last quarter. Finally, Davis Rea LTD. grew its stake in Amazon.com by 3.6% during the third quarter. Davis Rea LTD. now owns 141,883 shares of the e-commerce giant’s stock valued at $26,437,000 after acquiring an additional 4,930 shares in the last quarter. Institutional investors own 72.20% of the company’s stock. Insider Activity In other news, SVP David Zapolsky sold 2,190 shares of the company’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the transaction, the senior vice president now directly owns 62,420 shares of the company’s stock, valued at $12,171,900. This represents a 3.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink . Also, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $210.00, for a total transaction of $735,000.00. Following the transaction, the chief executive officer now owns 524,567 shares of the company’s stock, valued at approximately $110,159,070. The trade was a 0.66 % decrease in their position. The disclosure for this sale can be found here . In the last 90 days, insiders have sold 6,030,183 shares of company stock worth $1,252,883,795. 10.80% of the stock is currently owned by insiders. Analysts Set New Price Targets Check Out Our Latest Stock Report on Amazon.com Amazon.com Price Performance Shares of AMZN stock opened at $227.03 on Friday. Amazon.com, Inc. has a 12 month low of $143.64 and a 12 month high of $227.15. The company has a market capitalization of $2.39 trillion, a PE ratio of 48.61, a price-to-earnings-growth ratio of 1.43 and a beta of 1.16. The firm’s 50-day moving average is $196.61 and its two-hundred day moving average is $187.78. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. Amazon.com ( NASDAQ:AMZN – Get Free Report ) last announced its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.29. The company had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. Amazon.com’s revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.85 earnings per share. Analysts predict that Amazon.com, Inc. will post 5.29 earnings per share for the current year. Amazon.com Profile ( Free Report ) Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content. 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Mumbai, Dec 28, 2024- Veteran Marathi films and television actress Prajakta Mali slammed Bharatiya Janata Party (BJP) MLA Suresh R. Dhas for making certain scurrilous remarks against her, demanding a public apology, here on Saturday. Speaking to media persons, Mali, 35, also said that she had complained to the Maharashtra State Commission for Women (MSCW) and plans to write and meet Chief Minister Devendra Fadnavis and the Deputy CMs on the issue. The actress – who started her film career at the age of 15 with a bit role in Shah Rukh Khan’s ‘Swades’ (2004) – took strong umbrage at the ruling BJP MLA Dhas (from Ashti in Beed district) for his insinuating remarks targeting her character and reputation. Breaking down several times during the media meet, she cautioned Dhas and other politicians from “involving the names of film personalities who are soft targets” for their personal political aims. “All this has been going on for over a month-and-half, but I did not react... Just because I was silent doesn’t imply my tacit consent to whatever is said about me,” said Mali. Her ire was especially against Dhas’ remarks naming her along with a couple of other Marathi actresses, while speaking on his political rival, ruling ally Nationalist Congress Party (NCP) Minister Dhananjay Munde and the boiling row over the killing of Massajog Sarpanch, Santosh Pandit Deshmukh on December 9. Among other things, Dhas hinted that actresses like Prajaktta Mali keep coming to Parli, and certain other insinuations that left her livid, shocked the film fraternity and agonised her family. Strongly condemning Dhas’ baseless and tasteless remarks pointing fingers at her character, she said that he probably had no inkling of the damage caused to her dignity and reputation. “He was referring to just one brief meeting at a public function and a photograph. He made baseless statements. But the media and social media blew it out of proportion with thousands of videos going viral. We are all suffering, my mother couldn’t sleep the whole night, and my brother has blocked all his social media accounts,” she said, while tears welled up in her eyes several times during her media encounter. The actress said she came forward to demand a public apology from Dhas, not only to her personally but also to he womenfolk in general whom he has tainted with his utterances. “I want to tell Dhas. You are a politician, we are artists and entertainment is our profession. You indulge in your politics, but why do you have to drag us actors into it? Do only female artists come to Parli, have no male artists ever been there? Then why are we being singled out,” said Mali. She said that such behaviour does not behove politicians in the state, raising suspicions over the character of women artists or their achievements just to play out their personal politics, and the media blows it up for sensation and boosting TRPs. Mali said she has requested the Maharashtra State Commission for Women. (MSCW) to initiate action against all concerned within the legal framework, and urged the CM for measures to curb social media from sensationalising such baseless things without any evidence to back it up. To a question, she said that the entertainment industry is sympathetic to her and if needed she was ready to assume a leadership role to stop the assault on entertainers and celebrities by the politicians. “If such things continue, there are questions raised that in future, people may not encourage their children to become part of the entertainment industry. We entertain the masses, but some people misuse and abuse our name to create their own entertainment,” she said sharply. Meanwhile, the Maharashtra Navnirman Sena (MNS) and certain other local politicians have expressed support for Mali’s cause.(Agency)
Why your favorite catalogs are smaller this holiday season
Adelaide [Australia]: Australia were bowled out for 337 runs in their first innings of the ongoing second Test of the five-match Border-Gavaskar Trophy 2024-25 against India at the Adelaide Oval on Saturday and took a lead of 157 runs. Following Australia's lead of 157 runs, the Rohit Sharma-led side are in trouble as only two times it has happened that teams have come back to win a day-night (pink-ball) Test after conceding a first-innings lead. The two teams who have went on to win the pink-ball Test match after conceding a first-inning lead are Sri Lanka and Australia. Sri Lanka did it in 2018 against West Indies at Bridgetown and Australia won against India by 53 runs in 2020 at Adelaide. Top Australia batter Travis Head also shattered day-night Test records at Adelaide, continuing his golden run against India. During Australia's first inning at the Adelaide Test, Head played a 140-run knock from 141 balls at a strike rate of 99.29 to achieve the milestone. 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As of now, the 30-year-old has three centuries in pink-ball Tests. Head's compatriot Marnus Labuschagne holds the top spot with four centuries in day-night Test cricket. Head also set the landmark of the fastest centuries in day-night Tests, the Aussie batter only took 111 balls to smash a stupendous hundred at the Adelaide Oval. Head has a fine record against India in Tests, scoring 955 runs in 12 Tests and 21 innings at an average of 47.75, with two centuries and four fifties. His best score is 163. Across all formats against India, Head has made 1,555 runs in 29 matches and 38 innings at an average of 44.42, with three centuries and six fifties and the best score of 163. In his last ten innings against India across all formats, including the latest, Travis has made 728 runs across all formats in eight matches, averaging 72.80, with three centuries and two fifties to his name and best score of 163* during WTC finals. This also includes a knock of 137 in the 50-over WC finals. 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Western Michigan beats Eastern Michigan 26-18 to become bowl eligiblePORTLAND, Maine (AP) — Honey, they shrunk the catalogs. While retailers hope to go big this holiday season, customers may notice that the printed gift guides arriving in their mailboxes are smaller. Many of the millions of catalogs getting sent to U.S. homes were indeed scaled down to save on postage and paper, resulting in pint-sized editions. Lands’ End, Duluth Trading Company and Hammacher Schlemmer are among gift purveyors using smaller editions. Some retailers are saving even more money with postcards. Lisa Ayoob, a tech-savvy, online shopper in Portland, Maine, was surprised by the size of a recent catalog she received from outdoor apparel company Carbon2Cobalt. “It almost felt like it was a pamphlet compared to a catalog,” she said. Catalogs have undergone a steady recalibration over the years in response to technological changes and consumer behavior. The thick, heavy Sears and J.C. Penney catalogs that brought store displays to American living rooms slimmed down and gave way to targeted mailings once websites could do the same thing. Recent postal rate increases accelerated the latest shift to compact formats. The number of catalogs mailed each year dropped about 40% between 2006 to 2018, when an estimated 11.5 billion were mailed to homes, according to the trade group formerly known as the American Catalog Mailers Association. In a sign of the times, the group based in Washington rebranded itself in May as the American Commerce Marketing Association, reflecting a broadened focus. But don’t expect catalogs to go the way of dinosaurs yet. Defying predictions of doom, they have managed to remain relevant in the e-commerce era. Retail companies found that could treat catalogs with fewer pages as a marketing tool and include QR and promo codes to entice customers to browse online and complete a purchase. Despite no longer carrying an extended inventory of goods, catalogs are costly to produce and ship. But they hold their own in value because of growing digital advertising costs, helping retailers cut through the noise for consumers barraged by multi-format advertisements, industry officials say. In an unlikely twist, notable e-commerce companies like Amazon and home goods supplier Wayfair started distributing catalogs in recent years. Amazon began mailing a toy catalog in 2018. That was the same year Sears, which produced an annual Christmas Wish Book Wish starting in 1933, filed for bankruptc y. Fans of printed information may rejoice to hear that apparel retailer J.Crew relaunched its glossy catalog this year. Research shows that the hands-on experience of thumbing through a catalog leaves a greater impression on consumers, said Jonathan Zhang, a professor of marketing at Colorado State University. “The reason why these paper formats are so effective is that our human brains haven’t evolved as fast as technology and computers over the past 10 to 20 years. We retain more information when we read something on paper. That’s why paper books remain relevant,” Zhang said. “The psychology shows that three-dimensional, tactile experiences are more memorable.” Pint-sized presentations still can work, though, because the purpose of catalogs these days is simply to get customers’ attention, Zhang said. Conserving paper also works better with younger consumers who are worried about the holiday shopping season’s impact on the planet, he said. Postal increases are hastening changes. The latest round of postage hikes in July included the category with the 8.5-by-11-inch size that used to be ubiquitous for the catalog industry. Many retailers responded by reducing the size of catalogs, putting them in a lower-cost letter category, said Paul Miller, executive vice president and managing director of the American Commerce Marketing Association. One size, called a “slim jim,” measures 10.5 by 5.5 inches. But there other sizes. Some retailers have further reduced costs by mailing large postcards to consumers. Lands’ End, for one, is testing new compact formats to supplement its traditional catalogs. This year, that included folded glossy brochures and postcards, along with other formats, Chief Transformation Officer Angie Rieger said. Maine resident Ayoob said she understands why retailers still use catalogs even though she no longer is a fan of the format. These days, she prefers to browse for products on the internet, not by flipping through paper pages. “Everybody wants eyeballs. There’s so much out there — so many websites, so many brands,” said Ayoob, who spent 35 years working in department stores and in the wholesale industry. Targeting customers at home is not a new concept. L.L. Bean was a pioneer of the mail-order catalog after its founder promoted his famous “Maine Hunting Shoe” to hunting license holders from out-of-state in 1912. The outdoor clothing and equipment company based in Freeport, Maine, is sticking to mailing out regular-sized catalogs for now. “By showcasing our icons, the catalog became an icon itself,” L.L. Bean spokesperson Amanda Hannah said. “Even as we invest more in our digital and brand marketing channels, the catalog retains a strong association with our brand, and is therefore an important part of our omni-channel strategy, especially for our loyal customers.”
A special panel has given Democratic Gov. Katie Hobbs five choices from which she must pick the next justice of the Arizona Supreme Court. The list approved late Monday by the Commission on Appellate Court Appointments includes three Democrats and two political independents. That particular mix is not unusual. In fact, it's mandated by the Arizona Constitution, which requires the commission to provide a politically diverse list. No more than 60% can be from the same party. The commission clearly has a favorite: Maria Elena Cruz, currently a judge on the state Court of Appeals. The Yuma Democrat previously served as a judge for the Cocopah Indian Tribe and Yuma County Superior Court. She was the only one of the applicants who gained unanimous support of the 15 commissioners who voted; Chief Justice Ann Scott Timmer, who chairs the panel, chose to abstain in all cases. Racial/ethnic information is required to be included in each application; Cruz identifies as a Black Latina. Women have been represented on the court for decades. But there were no Hispanics on the court until 2016 when then-Gov. Doug Ducey named John Lopez to the court. There have been no Black justices. Nicole Davis, who is deputy director of the Department of Economic Security and the agency's general counsel, picked up 13 votes from the commissioners. She is a political independent and is Black. Prior to working at DES, she was a deputy general counsel for the Arizona Health Care Cost Containment System, the state's Medicaid program. She also served as deputy general counsel to Democrat Janet Napolitano when she was governor. Also on the list is Andrew Jacobs, a Democrat who is white. Most of his experience before joining the court was in private practice at a Phoenix law firm. He got 12 votes. Picking up 14 votes was Regina Nassen, principal assistant attorney for the city of Tucson. Initially a political independent, she registered as a Democrat for 14 years before becoming an independent again in 2014. Nassen, who is white, also has experience in private practice. The list is filled out by Alexander Samuels, an assistant state attorney general who is a Democrat, is white, and previously worked as an assistant U.S. attorney. Hobbs has 60 days to make her pick to replace retiring Justice Robert Brutinel, a Republican. Her choice will be final, with no requirement for Senate confirmation. Hers will be the first pick by a Democratic governor in nearly two decades. Everyone now on the court was named either by Jan Brewer or Ducey, both of whom are Republicans. They chose only Republicans with the exception of Ducey's pick of Clint Bolick, who was registered as a political independent when named. Get your morning recap of today's local news and read the full stories here: tucne.ws/morning Howard Fischer is a veteran journalist who has been reporting since 1970 and covering state politics and the Legislature since 1982. Follow him on X, formerly known as Twitter, Bluesky , and Threads at @azcapmedia or email azcapmedia@gmail.com . Respond: Write a letter to the editor | Write a guest opinion Subscribe to stay connected to Tucson. A subscription helps you access more of the local stories that keep you connected to the community. Get Government & Politics updates in your inbox! Stay up-to-date on the latest in local and national government and political topics with our newsletter.The White House announced on Dec. 10 that President Joe Biden intends to veto a bipartisan bill proposing the first significant expansion of federal district court judgeships in more than 30 years. House Republicans are moving to advance the legislation before the close of the 118th Congress, but congressional Democrats argue that the measure’s timing undermines its original bipartisan intent. The White House weighed in on the controversy on Dec. 10, issuing a statement of administration policy panning the bill as “unnecessary to the efficient and effective administration of justice.” The statement argued that the legislation has not fully accounted for existing judicial resources, such as senior-status judges and magistrates. The Biden administration also took issue with the timing of the legislation, noting that the House delayed consideration until after the election when Trump’s victory assured him the opportunity to make the initial wave of appointments. “Hastily adding judges with just a few weeks left in the 118th Congress would fail to resolve key questions, especially regarding how the judges are allocated,” the statement said. It also pointed to “efforts by some Senators to hold open existing judicial vacancies” as evidence that judicial economy and caseload management were not the primary motivations for the bill’s passage. The statement concludes: “If the President were presented with S. 4199, he would veto it.” Democrats contend that bipartisan support that propelled the JUDGES Act through the Senate in August was predicated on the assumption that neither party knew which presidential candidate would oversee the first batch of appointments. With Trump’s victory, Democrats say that the bill’s fairness has been compromised. Rep. Jerry Nadler (D-N.Y.), ranking member of the Judiciary Committee, accused Republicans of delaying the bill until after the election to ensure that their preferred candidate benefitted. “Now here they are today, during the narrow window when the central premise behind the JUDGES Act is broken, trying to force this bill through the House on a partisan basis,” Nadler said. House Republicans say that the JUDGES Act addresses an urgent need to expand the judiciary. Rep. Jim Jordan (R-Ohio), chair of the Judiciary Committee, said during the Dec. 10 hearing that the bill allocates judgeships fairly, with several appointments going to states represented by Democratic senators. Under the current blue-slip system, which allows senators to veto judicial nominees in their states, both parties retain significant influence over the process. Sen. Todd Young (R-Ind.), the bill’s co-sponsor, criticized the White House’s veto threat and urged Biden to sign it if it makes it to his desk. “My broadly bipartisan bill is a common sense approach to a politically challenging problem and is widely supported by leading legal organizations across our country.” The bill’s phased rollout, beginning in January 2025, seeks to mitigate concerns about partisan exploitation. Trump would appoint 22 permanent and three temporary judges during his term, while subsequent administrations would oversee the remaining appointments through 2035. The judiciary currently has 677 authorized district court seats and 10 temporary ones.
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