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In the News
President Trump signed an Executive Order on Strengthening the Cyber security of Federal networks and Critical Infrastructure. The order is meant to enhance the government's cyber security and help protect critical infrastructure from cyber attacks. The order also seeks to treat federal IT as an enterprise while leaving protection responsibility on the shoulders of agency heads. Additionally, federal agencies must use the National Institute of Standards and Technology framework to assess and manage cyber risk.
Homeland Security Adviser, Tom Bossert, introduced the executive order and provided some concerns about cyber threat trends.
ESTABLISHMENT OF PRESIDENTIAL ADVISORY COMMISSION ON ELECTION INTEGRITY: https://www.whitehouse.gov/the-press-office/2017/05/11/presidential-executive-order-establishment-presidential-advisory
President Trump also signed an Executive Order on the Establishment of Presidential Advisory Commission on Election Integrity. The order creates a bipartisan commission of 15 members that are chaired by the Vice President and will study the registration and voting processes used in Federal elections.
Establishment of Presidential Advisory Commission on Election Integrity:
Former U.S. Representative Corrine Brown who representing Florida for almost 25 years was convicted Thursday on 18 charges that involve lying on her taxes and taking money from a charity that was supposed to give scholarships to poor students. The supposed charity named One Door for Education Foundation took in approximately $800,000 but only gave one scholarship of $1200 to an unidentified person.
The Immigration and Customs Enforcement Agency announced that it just wrapped up a six week operation that led to 1378 arrests. 1095 of the 1378 arrests were confirmed to be gang members or affiliates; mostly Bloods, Surenos, MS-13, and the Crips. 28% of the people arrested were in the country illegally.
Aetna, the insurance provider, announced that it would withdraw from the Nebraska and Delaware markets next year which will effectively end the company's participation in Obamacare. The company is said to lose more than $200 million this year and has already lost almost $700 million from 2014 to 2016. Now only one insurance provider remains in the Nebraska exchange and one in the Delaware exchange.
Jerry Brown, the Governor of California, proposed to increase funding of the state attorney general's office to $6.5 million in an effort to combat President Trump's policies with a series of lawsuits. Brown stated, "There are unique litigation expenses right now and the attorney general feels that he wants to pursue those and I think he should be given some latitude."
In Business News
Macy's announced its first quarter earnings yesterday. They reported the closing of over 60 stores which contributed to a decrease of 7.5% in net sales. Same store sales also declined by 4.6% and revenue of $5.34 billion was short when compared to the analysts' estimates of $5.47 billion. The stock was down as much as 17% in after hours trading.
In Tech News
Tesla announced earlier in the week that they are now taking orders for their new Solar Roof product. The roof looks like normal tiles, but produce electricity. In a blog post, Tesla explained that Consumer Reports estimates that a Solar Roof for an average size U.S. home would need to cost less than $24.50 per square foot to be cost competitive with a regular roof. The typical cost of the new Solar Roof is $21.85.