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Subcommittee discusses possible limits on proxy advisory companies | National

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www.thecentersquare.com – Brett Rowland – (The Center Square – ) 2025-04-29 15:13:00

(The Center Square) – A Congressional subcommittee discussed Tuesday how to oversee proxy advisory companies that tell investors how to vote in corporate elections.

U.S. Rep. Ann Wagner, R-Mo., led the House Financial Services Subcommittee on Capital Markets. The hearing was titled “Exposing the Proxy Advisory Cartel: How ISS & Glass Lewis Influence Markets.” 

“This hearing is part of an ongoing effort by this subcommittee to shine a lot on how the proxy process is functioning and, in many ways, failing today’s markets,” she said in her opening remarks. “The purpose of this hearing is to examine the role, practices and market influence of proxy advisory firms on corporate governance, investor returns and broader market outcomes.” 

Wagner noted that two firms – Glass Lewis and Institutional Shareholder Services – control 97% of the market for such services. 

“That concentration alone would warrant scrutiny,” she said. “But more troubling is how their influence goes far beyond research; they now routinely dictate outcomes of shareholder votes. … These firms are not neutral observers, they are for-profit businesses that often sell consulting services to the very companies they evaluate – sometimes with clear conflicts of interest.” 

U.S. Rep. Ann Wagner, R-Mo., leads the House Financial Services Subcommittee on Capital Markets on Tuesday, April 29, 2025.


Wagner said the effort had nothing to do with silencing shareholders, but was focused on ensuring the proxy process advances long-term investor value “rather than narrow political agendas.”

U.S. Rep. Brad Sherman, D-Calif., said the hearing was pointless.

“These firms have clients who pay them. Those are the investors, the capitalists who make our capitalism work,” he said. “The question is whether we are going to deprive them of the advice that they want and that they pay for. … And so we have before us bills that would require proxy advisory firms only provide advice on what maximizes profit and tell the eco-investors to go to hell.” 

Sherman said Republicans want to deny liberal investors the right to get advice on how to invest in companies with safe labor practices and companies that protect the environment.

“They should be able to invest in mutual funds that seek to maximize profit or to maximize profits, but no fossil fuels,” he said.

Sherman said investors who put up the money should control how firms on Wall Street operate, not the managers who run the companies.

“How dare anyone who is just a mere owner of the company suggest a change in company policy, let alone demand a vote on it, let alone get advice on how to vote,” he said. “This is not a war on the proxy advisors, this is a war on the idea that the people’s whose money it is get to make the decisions.”

Sherman said investors should be able to select goals other than simply boosting profit, but also people who want to invest to help the planet. 

The hearing comes a week after Jamie Dimon, CEO of JPMorgan Chase, called for Glass Lewis and Institutional Shareholder Services to be eliminated.

“They are incompetent,” Dimon said at a BlackRock retirement summit. “They should be gone and dead, done with.”

In March, Florida Attorney General James Uthmeier launched an investigation into Glass Lewis and Institutional Shareholder Services for “potential misrepresentations related to their Environmental, Social, and Governance (ESG) and Diversity, Equity, and Inclusion (DEI) investing policies in violation of the Florida Deceptive and Unfair Trade Practices Act and possible unlawful collusion in adopting and enforcing these policies in violation of the Florida Antitrust Act of 1980.”

“We won’t allow ESG goals to handcuff Florida businesses and threaten Floridians investments,” Uthmeier said at the time. “If these proxy advisors use their overwhelming market power to advance partisan political agendas rather than maximizing shareholder value, we will hold them accountable.”

In Texas, state Sen. Bryan Hughes, a Republican, recently introduced a bill that would block ISS and Glass Lewis from making recommendations based on ESG or DEI considerations.

Glass Lewis is discussing ending its practice of making recommendations on proxy votes, Semafor reported Tuesday. The company could stop weighing in on ballot measures, Semafor reported, citing sources close to the matter. The move is partly in response to conservative backlash, they said.

The post Subcommittee discusses possible limits on proxy advisory companies | National appeared first on www.thecentersquare.com



Note: The following A.I. based commentary is not part of the original article, reproduced above, but is offered in the hopes that it will promote greater media literacy and critical thinking, by making any potential bias more visible to the reader –Staff Editor.

Political Bias Rating: Center-Right

This article primarily reports on a Congressional hearing focusing on proxy advisory firms, presenting statements from Republican and Democratic representatives with clear distinctions in their viewpoints. The article leans slightly center-right by highlighting concerns about the influence of proxy advisory firms on markets and portraying Republican criticism of Environmental, Social, and Governance (ESG) considerations as efforts to protect shareholder value from what they frame as partisan political agendas. While it provides space for both sides, the framing and selection of quotes emphasize the Republican perspective more prominently and depict conservative efforts as measures against overreach by these firms, which suggests a center-right bias rather than neutral reporting.

The Center Square

Several guns found in Ford SUV of Minnesota shooter | Minnesota

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www.thecentersquare.com – Jon Styf – (The Center Square – ) 2025-06-16 07:41:00


Police arrested Vance Boelter after a dangerous manhunt near Green Isle, Minnesota, where he was found with AK-47-style rifles, handguns, a ballistic vest, a mask, and a list of public officials. Boelter, disguised as a police officer, allegedly shot and killed House Speaker Emeritus Melissa Hortman and her husband, and wounded State Sen. John Hoffman and his wife. The shootings were reported by Hoffman’s daughter. Boelter was seen fleeing in a Ford SUV and exchanged gunfire with police before escaping. Authorities condemned his use of a police disguise, saying he exploited the public’s trust in law enforcement.

(The Center Square) – Police found three AK-47 style rifles, a 9 mm handgun and a list of names of public officials in the Ford SUV of murder suspect Vance Boelter, according to a warrant request that was under seal until Boelter was arrested late Sunday.

Police also say they found a ballistic vest, disassembled 9mm firearm, a mask and a gold police-style badge, according to the warrant.

That warrant was released after Boelter was detained in the woods near Green Isle, Minnesota, following what Minnesota Gov. Tim Walz called a “complex and dangerous manhunt.”

Boelter is accused of dressing as a police officer and shooting and killing House Speaker Emeritus Melissa Hortman and her husband.

Boelter is accused of first going to the nearby home of State Sen. John Hoffman, DFL-Brooklyn Park, and shooting both him and his wife.

The Hoffman’s daughter, Hope, had called 911 and reported the shooting.

Brooklyn Park Police then sent officers to the Hortmans’ home, where they saw the suspect, with the same Ford SUV, shoot Hortmans’ husband.

After exchanging fire with police, Boelter escaped the area and the manhunt began.

“Boelter exploited the trust our uniforms are meant to represent,” Minnesota Department of Public Safety Commissioner Bob Jacobson said in a Sunday night press conference.

The post Several guns found in Ford SUV of Minnesota shooter | Minnesota appeared first on www.thecentersquare.com



Note: The following A.I. based commentary is not part of the original article, reproduced above, but is offered in the hopes that it will promote greater media literacy and critical thinking, by making any potential bias more visible to the reader –Staff Editor.

Political Bias Rating: Centrist

The content primarily reports factual information regarding a criminal incident, detailing the weapons found, the suspects’ actions, and official responses. It refrains from expressing opinions or commentary that would align with a particular ideological perspective. The article uses neutral language and focuses on law enforcement and public safety concerns rather than engaging in political advocacy or framing the events through a politicized lens. Thus, it maintains a balanced and straightforward reporting style without promoting any discernible political bias.

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The Center Square

Report: Weed legalization more dangerous for road safety than previously believed | National

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www.thecentersquare.com – Thérèse Boudreaux – (The Center Square – ) 2025-06-15 09:02:00


As marijuana legalization expands, transportation safety experts warn that driving under the influence of cannabis poses significant risks, impairing coordination, reaction time, and decision-making. THC’s effects can last up to five times longer than alcohol, yet public awareness remains low. Studies show a rise in THC-positive drivers involved in fatal crashes and a high prevalence of cannabis use among injured drivers. Testing challenges and legal complexities hinder regulation, particularly in the trucking industry. Rescheduling marijuana as a Schedule III drug could prevent testing for commercial drivers, prompting widespread concern. Experts call for stronger public education to combat widespread misconceptions.

(The Center Square) – As marijuana legalization spreads across the U.S., transportation and road safety organizations are sounding the alarm that driving high is just as dangerous as driving drunk — and much more complicated.

Marijuana, the THC-containing part of the cannabis plant, impairs driving performance by diminishing motor coordination, multitasking abilities, reaction time and distance perception, according to a report from the National Transportation Safety Board. 

Impairment also lasts up to five times longer than alcohol intoxication, which usually wears off within eight hours. 

But few Americans know about these dangerous effects or how long they persist, posing serious road safety concerns as drugged driving becomes more common.

In a March study by the AAA Foundation for Traffic Safety, found roughly 85% of 2,000 cannabis users reported driving the same day they use the drug. Only 19% thought their driving became worse after cannabis use and 34% believed they drove better after use. 

“It is super clear that there are some real misperceptions about driving and cannabis use and the safety of it,” Rebecca Steinbach, who led the AAA FTS survey, told The Center Square. “We know that cannabis can impair your physical and motor function and your decision-making, and drivers aren’t always the best judge of whether they’re impaired.”

Since 2014, 24 states and the District of Columbia have fully legalized marijuana within their borders, while 13 other states allow medical marijuana. 

Even where marijuana is legal, impaired driving is against the law. However, data indicates that increased marijuana usage has led to higher numbers of high drivers.

An AAA FTS study in 2020 compared cannabis use among drivers in fatal crashes in Washington before and after the state legalized recreational marijuana. 

It revealed that the number of drivers involved in fatal crashes who tested positive for THC more than tripled from five years before the legalization law took effect in 2012. Additionally, both the number of crashes statewide and the number of THC-positive drivers involved in those fatal crashes increased.

A larger study by the National Highway Transportation Safety Administration (NHTSA) in 2022 examined drug use in 7,279 seriously or fatally injured roadway crash victims. It found that nearly half of those in the sample who tested positive for drugs — 55.8% — had cannabinoids in their system, topping the number of those who tested positive for alcohol.

Another 2022 report, conducted by the NTSB, found that cannabis was detected in approximately a third of drivers arrested for impaired driving, based on data from four major U.S. forensic toxicology laboratories.

Yet even with these statistics, the cost and complexity of marijuana testing versus alcohol testing has caused a “tremendous data gap,” according to the NTSB’s transportation specialist Ryan Smith.

“The result is a patchwork of missing and inconsistent drugged driving data both across and within states,” Smith told The Center Square. “Even though we know cannabis is an impairing drug, the lack of data makes it difficult to measure the [road safety] effects of policy changes such as cannabis legalization.”

“Regardless of its legal status in any state, cannabis is an impairing substance that increases crash risk,” he added. 

To further complicate matters, determining cannabis impairment is significantly harder than determining alcohol intoxication.

Unlike alcohol, THC builds up in the body’s fat reserves over time, with higher usage resulting in higher levels of the psychoactive chemical. A frequent user who hasn’t used marijuana in two days and is not impaired could still test positive, so adopting a standard THC impairment threshold is virtually impossible. 

“There’s a reason that there’s some public misperceptions about this,” AAA FTS’ Steinbach said. “It’s not as straightforward as alcohol. It’s confusing even for experts.”

The American trucking industry in particular has had to grapple with the fallout of state-level legalization. Brenna Lyles, Senior Director of Safety Policy at the American Trucking Associations, told The Center Square that although the ATA has no formal position on marijuana legalization, “there’s some pretty far-reaching industry and highway safety impacts that we can’t turn a blind eye to.”

A major problem is workforce ignorance of the Department of Transportation’s ban on cannabis usage that all commercial drivers — no matter where they live or travel in the U.S. — are subject to. 

“That’s really a communication issue between the employer and the driver,” Lyles said. “All commercial drivers are subject to a federal drug test — it doesn’t matter what state they’re in. But more and more states are legalizing, and basically you just end up with confusion.” 

The situation could become much worse, however, if the Trump administration decides to reclassify marijuana as a Schedule III drug. 

Marijuana is currently classified as a Schedule I drug under the Controlled Substances Act, outlawing its possession or usage for any purpose. This places it on the U.S. Health and Human Services drug testing panel, which governs the DOT’s drug testing process for commercial drivers.

Under HHS Mandatory Guidelines, commercial transportation employers are only permitted to test their employees for Schedule I and II controlled substances. If marijuana becomes a Schedule III drug, those employers will no longer be able to test their drivers for cannabis use.

This change could lead to catastrophic consequences. Marijuana continues to be the most frequently detected drug among transportation industry workers subject to federal rules, with cannabinoids making up roughly 70% of all positives in the DOT’s Drug and Alcohol Clearinghouse database. 

“At least with the state level legalization, employers still have the full right to test for marijuana,” Lyles said. “If it’s a Schedule III drug, it basically falls off the map unless there’s some kind of legislation or something to change that. So yeah, we’re concerned. We don’t want to see drivers high on the road.”

The NTSB has continuously warned Congress about the consequences of rescheduling marijuana. 

“Transportation systems are among the most important ways in which the public may be exposed to risk from marijuana’s effects, and that transportation safety deserves prominence in the national conversation about marijuana rescheduling,” Smith told The Center Square, echoing previous NTSB testimony. “Marijuana impairment still poses serious safety risks, regardless of its classification.”

Steinbach, Lyles, and Smith all agreed that more public messaging about the dangers of driving high is needed, especially from trusted medical organizations.

“Because there are so many misperceptions, the key role for messaging is to get the word out there,” AAA’s Steinbach said. “Organizations like mine can bang the drum all we want, but we’re going to need to reach out more widely in order to actually get the message across so that people will listen.”

The post Report: Weed legalization more dangerous for road safety than previously believed | National appeared first on www.thecentersquare.com



Note: The following A.I. based commentary is not part of the original article, reproduced above, but is offered in the hopes that it will promote greater media literacy and critical thinking, by making any potential bias more visible to the reader –Staff Editor.

Political Bias Rating: Centrist

This article primarily reports factual information and data regarding marijuana legalization and its impact on road safety without endorsing a particular ideological stance. It highlights studies from various organizations like the National Transportation Safety Board, AAA Foundation, and the American Trucking Associations, discussing the complexities and safety concerns related to marijuana-impaired driving. The language is neutral and focuses on the implications of drug policy changes, the challenges of enforcement, and the safety risks, rather than promoting or opposing marijuana legalization. By presenting perspectives from experts and officials without judgment or emotive language, the article maintains a balanced, fact-based tone indicative of centrist reporting rather than leaning toward a specific political ideology.

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News from the South - North Carolina News Feed

Unwavering party preference in 2 bills valued at $1.6T | North Carolina

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www.thecentersquare.com – By Alan Wooten | The Center Square – (The Center Square – ) 2025-06-15 02:01:00


North Carolina’s U.S. House members voted along party lines on two Republican-backed bills: the “One Big Beautiful Bill Act” (H.R. 1), which cuts \$1.6 trillion in government spending, and the “Rescissions Act of 2025” (H.R. 4), which eliminates \$9.4 billion from entities like USAID and public broadcasting. Republicans called it a purge of waste, citing spending on drag shows and foreign projects. Democrats criticized the cuts as harmful and symbolic, calling the effort fiscally irresponsible. H.R. 1 passed 215-214; H.R. 4 passed 214-212. No Democrats supported either. A few Republicans broke ranks and voted against their party on each bill.

(The Center Square) – North Carolinians in the U.S. House of Representatives were unwavering of party preference for two bills now awaiting finalization in the Senate.

Republicans who favored them say the One Big Beautiful Bill Act, known also as House Resolution 1, slashed $1.6 trillion in waste, fraud and abuse of government systems. The Rescissions Act of 2025, known also as House Resolution 4, did away with $9.4 billion – less than six-tenths of 1% of the other legislation – in spending by the State Department, the U.S. Agency for International Development (USAID), the Corp. for Public Broadcasting (PBS, NPR), and other entities.

Democrats against them say the Department of Government Efficiency made “heartless budget cuts” and was an “attack on the resources that North Carolinians were promised and that Congress has already appropriated.”

Republicans from North Carolina in favor of both were Reps. Dr. Greg Murphy, Virginia Foxx, Addison McDowell, David Rouzer, Rev. Mark Harris, Richard Hudson, Pat Harrigan, Chuck Edwards, Brad Knott and Tim Moore.

Democrats against were Reps. Don Davis, Deborah Ross, Valerie Foushee and Alma Adams.

Foxx said the surface was barely skimmed with cuts of “$14 million in cash vouchers for migrants at our southern border; $24,000 for a national spelling bee in Bosnia; $1.5 million to mobilize elderly, lesbian, transgender, nonbinary and intersex people to be involved in the Costa Rica political process; $20,000 for a drag show in Ecuador; and $32,000 for an LGBTQ comic book in Peru.”

Adams said, “While Elon Musk claimed he would cut $1 trillion from the federal government, the recissions package amounts to less than 1% of that. Meanwhile, House Republicans voted just last month to balloon the national debt by $3 trillion in their One Big Ugly Bill. It’s fiscal malpractice, not fiscal responsibility.”

House Resolution 1 passed 215-214 and House Resolution 4 went forward 214-212. Republican Reps. Warren Davidson of Ohio and Thomas Massie of Kentucky were against the One Big Beautiful Bill and Republican Reps. Mark Amodei of Nevada, Brian Fitzpatrick of Pennsylvania, Nicole Malliotakis of New York and Michael Turner of Ohio were against the Rescissions Act.

No Democrats voted yea.

The post Unwavering party preference in 2 bills valued at $1.6T | North Carolina appeared first on www.thecentersquare.com



Note: The following A.I. based commentary is not part of the original article, reproduced above, but is offered in the hopes that it will promote greater media literacy and critical thinking, by making any potential bias more visible to the reader –Staff Editor.

Political Bias Rating: Centrist

The article presents a straightforward report on the partisan positions and voting outcomes related to two specific bills, highlighting the contrasting views of Republicans and Democrats without using loaded or emotionally charged language. It neutrally conveys the Republicans’ framing of the bills as efforts to cut waste and reduce spending, alongside Democrats’ critique of those cuts as harmful and insufficient fiscal discipline. By providing direct quotes from representatives of both parties and clearly stating voting results, the content maintains factual reporting without promoting a particular ideological stance. The balanced presentation of arguments and absence of editorializing indicate a commitment to neutrality rather than an intentional partisan perspective.

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