lol646b
By ZEKE MILLER, Associated Press WASHINGTON (AP) — President-elect Donald Trump’s transition team on Tuesday signed an agreement to allow the Justice Department to conduct background checks on his nominees and appointees after a weeks-long delay. The step lets Trump transition aides and future administration staffers obtain security clearances before Inauguration Day to access classified information about ongoing government programs, an essential step for a smooth transiton of power. It also allows those nominees who are up for Senate confirmation to face the background checks lawmakers want before voting on them. Teams of investigators have been standing by to process clearances for Trump aides and advisers. “This agreement with the Department of Justice will ensure President Trump and his team are ready on Day 1 to begin enacting the America First Agenda that an overwhelming majority of our nation supported on Election Day,” said Susie Wiles, Trump’s designate to be White House chief of staff. Related Articles The announcement comes a week after the Trump transition team signed an agreement with the Biden White House to allow transition staff to coordinate with the existing federal workforce before taking office on Jan. 20. The White House agreement was supposed to have been signed by Oct. 1, according to the Presidential Transition Act, and the Biden White House had issued both public and private appeals for Trump’s team to sign on. Security clearances are required to access classified information, including on ongoing operations and threats to the nation, and the Biden White House and outside experts have emphasized to Trump’s team the importance of having cleared personnel before Inauguration Day so they could be fully briefed and ready to run the government. Republican Senators have also insisted on FBI background checks for Trump’s nominees before they face confirmation votes, as has been standard practice for decades. Lawmakers have been particularly interested in seeing the findings of reviews into Trump’s designated nominee for defense secretary, former Fox News host Pete Hegseth, and for Rep. Tulsi Gabbard to be director of national intelligence. “That’s why it’s so important that we have an FBI background check, a committee review of extensive questions and questionnaires, and a public hearing,” said. Sen. Susan Collins, R-Maine on Monday. John Thune, the incoming Senate Republican leader, said the Trump team “understands there’s going to have to be a thorough vetting of all these nominees.” AP congressional correspondent Lisa Mascaro contributed.The Group Chief Executive Officer, Nigerian National Petroleum Company Ltd. (NNPCL), Mele Kyari, has reiterated the organisation’s commitment to advancing local content development in Nigeria’s energy sector and driving sustainable growth of the industry. According to a statement signed by the Chief Corporate Communications Officer, NNPCL, Olufemi Soneye, Kyari disclosed this at the ongoing 13th Practical Nigerian Content (PNC) Forum in Yenagoa, Bayelsa State. Kyari, who was represented by the Executive Vice President, Upstream, Mr. Udobong Ntia, emphasised the significance of the PNC Forum as a unique opportunity for stakeholders to reflect on progress, share best practices and identify strategic opportunities for growth. He noted that the landmark Nigerian Oil and Gas Industry Content Development (NOGICD) Act of 2010 had ushered in a transformative era for local businesses, positioning them to compete on a global scale. “The PNC has spawned several initiatives to address stakeholder concerns and maximize the benefits of our rich resources. We have a shared responsibility to empower local firms and drive innovation to ensure a robust oil and gas sector that meets both local and global demands,” Kyari stated. The GCEO further emphasised the importance of fostering local capabilities, embracing advanced technologies, and nurturing partnerships to create a sustainable energy future for Nigeria. Highlighting the ongoing commitment of NNPC Limited to local content, Kyari referenced the recent Presidential Directive on Local Content Compliance Requirements for 2024, stressing that it was a testament to the Federal Government’s commitment to prioritizing local content as a key element of national strategy. “This directive should make us all feel secure and committed to the local content strategy,” Kyari added. The theme for this year’s PNC forum, “Defining the Next Frontier for Nigerian Content Implementation,” underscores the collective goal of advancing local content across the energy sector. He also detailed NNPC Ltd’s strategic initiatives aimed at enhancing the capabilities of local firms, including the restructuring of the NNPC Exploration and Production Ltd. (NEPL) and the positioning of the NNPC Engineering and Technical Company Ltd. (NETCO) as a full-scale engineering company. He encouraged participants at the Conference to engage actively, share insights, and forge connections that would accelerate the journey towards energy sufficiency in Nigeria. “Together, we can cultivate a vibrant local content ecosystem that benefits all Nigerians,” he concluded. Also present at the event are the Deputy Governor of Bayelsa State, Senator Lawrence Ewhurdjakpo; Ministers of State, Petroleum Resources, Oil, Senator Heineken Lokpobiri and his Gas Counterpart, Hon. Ekperikpe Ekpo; Permanent Secretary, Ministry of Petroleum Resources, Amb. Nicholas Agbo Ella; Executive Secretary, Nigerian Content Development & Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe; Secretary General of the African Petroleum Producers’ Organisation (APPO), Dr. Omar Farouk Ibrahim; Senate Chairman, Local Content, Senator Natasha Akpoti-Uduaghan; House Committee Chairman, Local Content, Hon. Boma Goodhead and a host of others. The 13th Practical Nigerian Content (PNC) Forum is hosted by the Nigerian Content Development and Monitoring Board (NCDMB). The forum is a vital platform for advancing local content development in Nigeria’s energy sector.
AP News Summary at 12:11 p.m. ESTIND vs AUS 4th Test Day 5 live score: India-Australia battle out for crucial series lead on final day at MCGVivek Ramaswamy Claims DOGE Will ‘Scrutinize’ Federal Loans to Tesla’s Enemies
Real vs. fake: Can you spot AI-generated images?Titans QB Mason Rudolph gets another chance at starting, this time against the Jags
Oliver Glasner: Crystal Palace are heading in right direction after Ipswich winBy TOM KRISHER, Associated Press DETROIT (AP) — For a second time, a Delaware judge has nullified a pay package that Tesla had awarded its CEO, Elon Musk, that once was valued at $56 billion. On Monday, Chancellor Kathaleen St. Jude McCormick turned aside a request from Musk’s lawyers to reverse a ruling she announced in January that had thrown out the compensation plan. The judge ruled then that Musk effectively controlled Tesla’s board and had engineered the outsize pay package during sham negotiations . Lawyers for a Tesla shareholder who sued to block the pay package contended that shareholders who had voted for the 10-year plan in 2018 had been given misleading and incomplete information. In their defense, Tesla’s board members asserted that the shareholders who ratified the pay plan a second time in June had done so after receiving full disclosures, thereby curing all the problems the judge had cited in her January ruling. As a result, they argued, Musk deserved the pay package for having raised Tesla’s market value by billions of dollars. McCormick rejected that argument. In her 103-page opinion, she ruled that under Delaware law, Tesla’s lawyers had no grounds to reverse her January ruling “based on evidence they created after trial.” On Monday night, Tesla posted on X, the social media platform owned by Musk, that the company will appeal. The appeal would be filed with the Delaware Supreme Court, the only state appellate court Tesla can pursue. Experts say a ruling would likely come in less than a year. “The ruling, if not overturned, means that judges and plaintiffs’ lawyers run Delaware companies rather than their rightful owners — the shareholders,” Tesla argued. Later, on X, Musk unleashed a blistering attack on the judge, asserting that McCormick is “a radical far left activist cosplaying as a judge.” Legal authorities generally suggest that McCormick’s ruling was sound and followed the law. Charles Elson, founding director of the Weinberg Center for Corporate Governance at the University of Delaware, said that in his view, McCormick was right to rule that after Tesla lost its case in the original trial, it created improper new evidence by asking shareholders to ratify the pay package a second time. Had she allowed such a claim, he said, it would cause a major shift in Delaware’s laws against conflicts of interest given the unusually close relationship between Musk and Tesla’s board. “Delaware protects investors — that’s what she did,” said Elson, who has followed the court for more than three decades. “Just because you’re a ‘superstar CEO’ doesn’t put you in a separate category.” Elson said he thinks investors would be reluctant to put money into Delaware companies if there were exceptions to the law for “special people.” Elson said that in his opinion, the court is likely to uphold McCormick’s ruling. Experts say no. Rulings on state laws are normally left to state courts. Brian Dunn, program director for the Institute of Compensation Studies at Cornell University, said it’s been his experience that Tesla has no choice but to stay in the Delaware courts for this compensation package. The company could try to reconstitute the pay package and seek approval in Texas, where it may expect more friendlier judges. But Dunn, who has spent 40 years as an executive compensation consultant, said it’s likely that some other shareholder would challenge the award in Texas because it’s excessive compared with other CEOs’ pay plans. “If they just want to turn around and deliver him $56 billion, I can’t believe somebody wouldn’t want to litigate it,” Dunn said. “It’s an unconscionable amount of money.” Almost certainly. Tesla stock is trading at 15 times the exercise price of stock options in the current package in Delaware, Morgan Stanley analyst Adam Jonas wrote in a note to investors. Tesla’s share price has doubled in the past six months, Jonas wrote. At Monday’s closing stock price, the Musk package is now worth $101.4 billion, according to Equilar, an executive data firm. And Musk has asked for a subsequent pay package that would give him 25% of Tesla’s voting shares. Musk has said he is uncomfortable moving further into artificial intelligence with the company if he doesn’t have 25% control. He currently holds about 13% of Tesla’s outstanding shares.