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Ubben’s socially conscious ValueAct Spring Fund bets on workplace wonk

Jeffrey Ubben, Founder & CEO at ValueAct Capital, poses for a portrait before speaking on the Reuters Newsmaker event'
Jeffrey Ubben, Founder & CEO at ValueAct Capital, poses for a portrait before speaking on the Reuters Newsmaker event' "The Future of Shareholder Activism" panel in Manhattan, New York, U.S., February 22, 2017. REUTERS/Andrew Kelly

February 27, 2019

By Svea Herbst-Bayliss

NEW YORK (Reuters) – Jeffrey Ubben’s ValueAct Spring Fund, which invests in companies aiming to address environmental and social problems, is making a bet on an academic-turned-hedge-fund-manager who picks stocks based on how effective companies are as employers.

The Spring Fund is buying a stake in Irrational Capital, a hedge fund launched three years ago by Duke University behavioral economist Dan Ariely and his business partner David van Adelsberg. Terms of the deal were not disclosed.

It is an unusual move for a hedge fund to back a smaller rival. But ValueAct, the $15 billion fund that last year launched the $350 million Spring Fund, is familiar with such an arrangement. It sold a stake in itself to Affiliated Managers Group more than a decade ago.

So far Spring Fund has mainly bought stakes in publicly listed companies, including power utility Hawaii Electric Industries Inc and gene-editing company Horizon Discovery Group Plc.

“Dan (Ariely’s) work makes the case for connecting positive workforce culture to performance,” Ubben said in an interview. He met the economist seven years ago through a connection at Duke University, where Ubben earned his undergraduate degree.

Ariely and Van Adelsberg have come up with a system to measure employee engagement, pride in their work and sense of purpose across the corporate world. Their data is funneled into a computer that churns out rankings of companies that Irrational Capital then invests in.

Irrational Capital has so far gathered information on over 1,000 companies through “any type of data we can get our hands on,” Ariely said, adding this includes 350 companies with market capitalizations of more then $1 billion. Ariely declined to name the companies, and Ubben said he doesn’t need to know Ariely’s picks.

“We don’t intervene in what the data show by saying something like this company scores highly but we don’t like the CEO. We are true to the data,” Ariely said in an interview.

Ariely, a 51-year old professor, researcher and author, views himself as an expert in understanding human behavior. He spent time in the hospital as a teenager recovering from burns received when a flare exploded during a celebration and said the opportunity to observe nurses at work built his skill.

Meanwhile, Ubben, 57, is fast becoming one of Wall Street’s biggest critics of corporate America’s short-termism. He is now trying to convince investors that positive workplace culture can drive above-average returns.

OPERATIONAL CHANGES

For nearly two decades, Ubben has staked a claim to bringing a long-term approach to activist investing. His playbook does not usually call for a fast return of capital to shareholders or a quick flip of a company to a seller.

Instead, ValueAct prefers to push for operational changes at companies such as Microsoft Corp and Citigroup Inc from behind the scenes. Two years ago, Ubben handed the chief investment officer role at ValueAct to Mason Morfit, but he remains the firm’s CEO and runs the Spring Fund.

Over ValueAct’s lifetime, the main fund has returned an average of nearly 15 percent a year, an investor said. Ubben declined to say how the new fund has done, citing regulations.

Pushing back against corporate greed has galvanized public opinion and politicians alike, and Ubben wants to convince mainstream investors that committing resources to employees’ well-being will not short-change shareholders.

“These hedge fund managers write letters and dictate what should be done by management and then they get their buddies to buy the stock and help hijack the company,” Ubben said of some of his competitors, declining to name them.

Ubben said he was particularly irked when Aramark Inc, the food services and facilities company he recently invested in, was punished by analysts for doing good. Management returned the roughly $100 million windfall the company received through the tax system overhaul to employees in the form of higher wages and by boosting the match to their retirement savings, Ubben said. But Goldman Sachs Group Inc downgraded its rating to neutral from buy, citing growing labor pressures in the sector.

Aramark did not immediately respond to a request for comment.

Data from Gallup Inc, known for its public opinion polls, also showed that organizations that are best in engaging their employees deliver earnings per share growth that is more than four times that of their competitors.

“This is the last mile and this is the hardest thing,” Ubben said of Irrational Capital. “We want to spread the word and introduce the concept and grow it so that a lot of people will invest in it.”

(Reporting by Svea Herbst-Bayliss; editing by Greg Roumeliotis and Cynthia Osterman)

Source: OANN

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Trump Was Right: He Correctly Predicted SJWs Would Target Founding Fathers

Trump was criticized in 2017 for suggesting that social justice warriors would target George Washington and Thomas Jefferson, but now they’re doing just that, proving the president right.

Students at Hofstra University are now demanding the removal of a Thomas Jefferson statue to “correct for history,” and are also demanding politically-correct training for its professors and facility.

“Hofstra University students held their second annual ‘Jefferson Has Gotta Go!’ protest of a Thomas Jefferson statue on campus on Friday, demanding that the university move the structure into a museum along with the “appropriate context,'” reported Breitbart. “The Jefferson statue, which has also been subjected to acts of vandalism in the past, stands in front of the university’s student center — a location that some students have expressed frustration over, stating ‘it is unfortunate’ that so many students and families ‘take photos and share hugs and smiles’ in the presence of the Jefferson statue.”

Furthermore, students at George Washington University want to remove the school’s mascot, George the Colonial.

Contrast this to 2017, when President Trump was criticized for suggesting that both Jefferson and Washington would be targeted for removal.

“This week it’s Robert E. Lee. I noticed that Stonewall Jackson is coming down,” Trump said about the removal of two Confederate statues at the time. “I wonder, is it George Washington next week and is it Thomas Jefferson the week after? You know, you really do have to ask yourself, where does it stop?”

The president was criticized over those comments by two historians, one of whom said making an equivalency between the Founding Fathers and Confederate leaders was not only “absurd” but also “unacceptable for the president of the United States.”

“They accomplished something very important. Washington and Jefferson were central to the creation of a nation … Lee and Stonewall were not being honored for those types of accomplishment,” he said. “They were being honored for creating and defending the Confederacy, which existed for one reason, and that was to protect the right of people to own other people.”

Another historian also echoed similar sentiments, suggesting that a distinction must be drawn between Confederates and the Founding Fathers and stated that it’s hard to find 18th- and 19th- American leaders of great consequence who never owned slaves.

“It would be impossible to remember them if an association with slavery is the only criteria,” he said.

It would appear, however, that many college students are not drawing a line between the Founding Fathers and Confederate leaders; the campaign to remove Founding Fathers tributes seems to stem from an emotional – not a rational – argument.

The historians were asked to provide comment on these new developments but weren’t heard back from by the time of this publication.



Top political cartoonist in the world, Ben Garrison, has been attacked by the left for being so effective in his support for liberty, capitalism and President Trump.

Source: InfoWars

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Rep. Green: Pentagon's $1B for Wall Good for National Security

The Pentagon's move to approve $1 billion for 57 miles of border wall is good for national security, Rep. Mark Green, who sits on the House Oversight and Homeland Security committees, commented Tuesday.

"We know fences work," the Tennessee Republican told Fox News' "America's Newsroom." "That argument is settled. Clearly, the president has the authority to do this. I think the guys at the Pentagon know that border security is national security and they understand their mission is securing the nation...border security is national security and they are doing their part."

Green said lawsuits will likely be attempted over the funding, but the concern is getting the border secured and the nation must move forward quickly to do that.

"I believe and I've said before it is a national crisis," said Green, who added that he agrees with President Donald Trump that there is a crisis.

"Three hundred Americans are dying every week from heroin overdose," said Green. "Ninety percent of the heroin is coming across the southern border."

He said he also believes there are many Democrats from Trump districts who are ready to move on and say they're for border security because they're "tired of having" the conversation about it.

Meanwhile, Green said he thinks Oversight Committee Chairman Adam Schiff, D-Calif., should step down as chairman of the House Intelligence Committee because of his actions before special counsel Robert Mueller's report concluded.

"Many times he mentioned there was credible evidence he had seen and verified," said Green.'After a two-year lengthy investigation by a very respected prosecutor, we have no evidence of collusion. In fact, probably the only collusion has been between the liberal media and DNC to throw the 2020 election."

Source: NewsMax Politics

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Textron profit beats on higher aircraft sales

FILE PHOTO: Cessna employee Lee York works on an engine of a Cessna business jet at the assembly line at their manufacturing plant in Wichita
FILE PHOTO: Cessna employee works on an engine of a Cessna business jet at the assembly line in their manufacturing plant in Wichita, Kansas March 12, 2013. REUTERS/Jeff Tuttle/File Photo

April 17, 2019

By Divya R and Ankit Ajmera

(Reuters) – Cessna business jet maker Textron Inc reported a higher-than-expected quarterly profit on Wednesday, benefiting from robust aircraft deliveries, sending its share up 1.6 percent in early trading.

Business jet demand has been growing steadily in the United States, the world’s biggest market, on the back of an expanding economy and rising corporate profits.

Textron said it delivered 44 jets in the first quarter ended March 30, up from 36 last year. Commercial turboprop deliveries rose to 44 aircraft from 29 last year.

“We think this quarter has pretty much ticked all the boxes for Textron. Aviation growth has continued, with a positive book to bill in the quarter,” Vertical Research Partners analyst Robert Stallard said.

Textron has faced delays in final certification of its newest super mid-size Longitude jet, which is expected to contribute a ‘big chunk’ to the company’s revenue growth in 2019.

Analysts have warned that the certification delays from the U.S. Federal Aviation Administration due to partial government shutdown followed by the regulator’s intense focus on re-certifying Boeing Co’s 737 MAX aircraft might impact sales growth at the company in the short.

Though the aviation business was among the drivers for a profit beat, Textron’s revenue missed Wall Street estimates, hurt by lower sales in its systems unit, which makes tactical armored patrol vehicles.

Textron re-affirmed its full-year profit outlook range of $3.55 to $3.75 per share.

Sales in the company’s aviation business, its biggest, rose 12.3 percent to $1.13 billion in the first quarter, while sales in the systems unit fell more than 20 percent to $307 million.

The company’s net income fell to $179 million in the quarter ended March 30 from $189 million a year earlier.

Textron earned 76 cents per share, above analysts’ average estimate of 68 cents, according to Refinitiv data.

Textron’s revenue fell 5.7 percent to $3.11 billion, below analysts’ estimates of $3.17 billion.

(Reporting by Divya R and Ankit Ajmera in Bengaluru; Editing by Maju Samuel)

Source: OANN

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Germany’s Merkel to meet border residents on Brexit visit to Ireland

FILE PHOTO - German Chancellor Merkel meets eastern Germany's Prime Ministers in Neudietendorf
FILE PHOTO - German Chancellor Angela Merkel addresses the media during a meeting of the Prime Ministers of Germany's eastern federal states in Neudietendorf near Erfurt, Germany, April 3, 2019. REUTERS/Ralph Orlowski

April 3, 2019

DUBLIN (Reuters) – German Chancellor Angela Merkel will meet residents who live along the border between Ireland and Northern Ireland during a visit to Dublin on Thursday to discuss Brexit to learn what impact any return of frontier checks would have on their lives.

Ireland’s 500 km (350 mile) border with British-governed Northern Ireland will be the United Kingdom’s only EU land frontier after Brexit, and the question of how to retain seamless trade across it has been a major hurdle in efforts to ensure the UK quits the bloc in an orderly fashion.

That becomes an even more difficult task if Britain leaves the bloc without a deal as Dublin has pledged to maintain the integrity of the European Union’s single market, where goods move freely around the bloc without the need for checks.

Britain, Ireland and the EU fear the installation of physical customs infrastructure on the border could reignite largely dormant sectarian tensions and prove a tempting target for militants seeking a united Ireland and those who oppose it.

Merkel will use her trip to meet Prime Minister Leo Varadkar to consider the border situation and how to prevent a no-deal “hard Brexit”, she said on Wednesday.

The leaders will participate in a roundtable discussion in Dublin with people from Northern Ireland and the border area ahead of their meeting, the Irish government said.

“These are people for whom the border is a very real issue – people from communities along the border, from business, and with direct personal experience of conflict before the Good Friday Agreement,” the government said in a statement, referring to the 1998 peace deal that ended three decades of violence.

“It is important to hear their voices as we work together to deal with the challenges that Brexit presents.”

Ireland has for months refused to countenance any no-deal contingency plans for the border but recently began discussions with the European Commission over how it might be managed if its nearest neighbor crashes out of the bloc.

No plan has been agreed as a result of those ongoing talks, Irish Foreign Minister Simon Coveney said on Tuesday.  

(Reporting by Padraic Halpin; Editing by Alison Williams)

Source: OANN

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Hungarian party faces discipline from center-right EU bloc

A senior lawmaker from Germany Chancellor Angela Merkel's party says Hungary's ruling Fidesz party may be suspended from the main center-right bloc in the European Parliament.

Prime Minister Viktor Orban's authoritarian style and anti-European Union, anti-migration policies have long put him at odds with many members of the European People's Party, whose delegates are meeting Wednesday to debate possible disciplinary measures against Fidesz.

Inge Graessle, an EU parliament lawmaker from Merkel's Christian Democratic Union, told Germany's SWR2 radio that she believes the EPP will "temporarily suspend his membership today — that is the step before expulsion — and then he can choose how he wants to continue."

Graessle said Orban, who had led Fidesz practically unchallenged since the early 1990s, "has to show credibly that he will change."

Source: Fox News World

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Rep. Meadows: Subpoena Vote About 2020, Not Transparency

The House Judiciary Committee's vote approving subpoenas for the unredacted version of special counsel Robert Mueller's full Russia report was not about transparency, but about the 2020 election, Rep. Mark Meadows said Wednesday.

"It's all political theater and nothing to do with really getting to the truth," the North Carolina Republican told Fox News' "America's Newsroom." "I've been in the room with [Judiciary] Chairman [Jerrold] Nadler looking at truly trying to let the American people see what happened with this investigation, and he has been the one that has objected over and over and over again."

Instead, Meadows said, the action was about trying to disparage President Donald Trump when Attorney General William Barr is "working with warp speed to get information to the American people…it is a sad day for Congress and I would say it's a sad day for the American people."

Meadows also slammed House Intelligence Committee Chairman Adam Schiff, D-Calif., for his comments earlier Wednesday that even though Mueller couldn't prove beyond a reasonable doubt that there had been the crime of conspiracy between Russia and the 2016 Trump campaign, there was "plenty of evidence of collusion."

"For two years he has told the American people that this was all about collusion and conspiracy," Meadows said of Schiff. "Now he is trying to change the definition because his handpicked special prosecutor said there was no collusion, no conspiracy."

Meadows also disagreed with contentions from Nadler that the law allows Barr the authority over what to release and what to keep private, as the law does not support releasing grand jury information.

Source: NewsMax Politics

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Police secure the area where the body of a woman was discovered near the village of Orounta
Police secure the area where the body of a woman was discovered near the village of Orounta, Cyprus, April 25, 2019. REUTERS/Stefanos Kouratzis

April 26, 2019

NICOSIA (Reuters) – Cypriot police searched on Friday for more victims of a suspected serial killer, in a case which has shocked the Mediterranean island and exposed the authorities to charges of “criminal indifference” because the dead women were foreigners.

The main opposition party, the left-wing AKEL, called for the resignation of Cyprus’s justice minister and police chief.

Police were combing three different locations west of the capital Nicosia for victims of the suspected killer, a 35-year-old army officer who has been in detention for a week.

The bodies of three women, including two thought to be from the Philippines, have been recovered. Police sources said the suspect had indicated the location of the third body, found on Thursday, and had said the person was “either Indian or Nepali”.

Police said they were searching for a further four people, including two children, based on the suspect’s testimony.

“These women came here to earn a living, to help their families. They lived away from their families. And the earth swallowed them, nobody was interested,” AKEL lawmaker Irene Charalambides told Reuters.

“This killer will be judged by the court but the other big question is the criminal indifference shown by the others when the reports first surfaced. I believe, as does my party, that the justice minister and the police chief should resign. They are irrevocably exposed.”

Police have said they will investigate any perceived shortcomings in their handling of the case.

One person who did attempt to alert the authorities over the disappearances, a 70-year-old Cypriot citizen, said his motives were questioned by police.

The bodies of the two Filipino women reported missing in May and August 2018 were found in an abandoned mine shaft this month. Police discovered the body of the third woman at an army firing range about 14 km (9 miles) from the mine shaft.

Police are now searching for the six-year-old daughter of the first victim found, a Romanian mother who disappeared with her eight-year-old child in 2016, and a woman from the Phillipines who vanished in Dec. 2017.

The suspect has not been publicly named, in line with Cypriot legal practice.

A public vigil for the missing was planned later on Friday.

(Reporting By Michele Kambas; Editing by Gareth Jones)

Source: OANN

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An employee looks up at goods at the Miniclipper Logistics warehouse in Leighton Buzzard
FILE PHOTO: An employee looks up at goods at the Miniclipper Logistics warehouse in Leighton Buzzard, Britain December 3, 2018. REUTERS/Simon Dawson

April 26, 2019

LONDON, April 26 – British factories stockpiled raw materials and goods ahead of Brexit at the fastest pace since records began in the 1950s, and they were increasingly downbeat about their prospects, a survey showed on Friday.

The Confederation of British Industry’s (CBI) quarterly survey of the manufacturing industry showed expectations for export orders in the next three months fell to their lowest level since mid-2009, when Britain was reeling from the global financial crisis.

The record pace of stockpiling recorded by the CBI was mirrored by the closely-watched IHS Markit/CIPS purchasing managers’ index published earlier this month.

(Reporting by Andy Bruce, editing by David Milliken)

Source: OANN

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Malaysian Prime Minister Mahathir Mohamad speaks at the opening ceremony for the second Belt and Road Forum in Beijing
Malaysian Prime Minister Mahathir Mohamad speaks at the opening ceremony for the second Belt and Road Forum in Beijing, China April 26, 2019. REUTERS/Florence Lo

April 26, 2019

KUALA LUMPUR (Reuters) – Fewer than half of Malaysians approve of Prime Minister Mahathir Mohamad, an opinion poll showed on Friday, as concerns over rising costs and racial matters plague his administration nearly a year after taking office.

The survey, conducted in March by independent pollster Merdeka Center, showed that only 46 percent of voters surveyed were satisfied with Mahathir, a sharp drop from the 71 percent approval rating he received in August 2018.

Mahathir’s Pakatan Harapan coalition won a stunning election victory in May 2018, ending the previous government’s more than 60-year rule.

But his administration has since been criticized for failing to deliver on promised reforms and protecting the rights of majority ethnic Malay Muslims.

Of 1,204 survey respondents, 46 percent felt that the “country was headed in the wrong direction”, up from 24 percent in August 2018, the Merdeka Center said in a statement. Just 39 percent said they approved of the ruling government.

High living costs remained the top most concern among Malaysians, with just 40 percent satisfied with the government’s management of the economy, the survey showed.

It also showed mixed responses to Pakatan Harapan’s proposed reforms.

Some 69 percent opposed plans to abolish the death penalty, while respondents were sharply divided over proposals to lower the minimum voting age to 18, or to implement a sugar tax.

“In our opinion, the results appear to indicate a public that favors the status quo, and thus requires a robust and coordinated advocacy efforts in order to garner their acceptance of new measures,” Merdeka Center said.

The survey also found 23 percent of Malaysians were concerned over ethnic and religious matters.

Some groups representing Malays have expressed fear that affirmative-action policies favoring them in business, education and housing could be taken away and criticized the appointments of non-Muslims to key government posts.

Last November, the government reversed its pledge to ratify a UN convention against racial discrimination, after a backlash from Malay groups.

Earlier this month, Pakatan Harapan suffered its third successive loss in local elections since taking power, which has been seen as a further sign of waning public support.

Despite the decline, most Malaysians – 67 percent – agreed that Mahathir’s government should be given more time to fulfill its election promises, Merdeka Center said.

This included a majority of Malay voters who were largely more critical of the new administration, it added.

(Reporting by Rozanna Latiff; Editing by Nick Macfie)

Source: OANN

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The German share price index DAX graph at the stock exchange in Frankfurt
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, April 25, 2019. REUTERS/Staff

April 26, 2019

By Medha Singh and Agamoni Ghosh

(Reuters) – European shares slipped on Friday after losses in heavyweight banks and Glencore outweighed gains in healthcare and auto stocks, while investors remained on the sidelines ahead of U.S. economic data for the first quarter.

The pan-European STOXX 600 index was down 0.1 percent by 0935 GMT, eyeing a modest loss at the end of a holiday-shortened week. Banks-heavy Italian and Spanish indices were laggards.

The banking index fell for a fourth day, at the end of a heavy earnings week for lenders.

Britain’s Royal Bank of Scotland tumbled after posting lower first quarter profit, hurt by intensifying competition and Brexit uncertainty, while its investment bank also registered poor returns.

Weakness in investment banking also dented Deutsche Bank’s quarterly trading revenue and sent its shares lower a day after the German bank abandoned merger talks with smaller rival Commerzbank.

“The current interest rate environment makes it challenging for banks to make proper earnings because of their intermediary function,” said Teeuwe Mevissen, senior market economist eurozone, at Rabobank.

Since the start of April, all country indexes were on pace to rise between 1.8 percent and 3.4 percent, their fourth month of gains, while Germany was strongly outperforming with 6 percent growth.

“For now the current sentiment is very cautious as markets wait for the first estimates of the U.S. GDP growth which could see a surprise,” Mevissen said.

U.S. economic data for the first-quarter is due at 1230 GMT. Growth worries outside the United States resurfaced this week after South Korea’s economy unexpectedly contracted at the start of the year and weak German business sentiment data for April also disappointed.

Among the biggest drags on the benchmark index in Europe were the basic resources sector and the oil and gas sector, weighed down by Britain’s Glencore and France’s Total, respectively.

Glencore dropped after reports that U.S authorities were investigating whether the company and its subsidiaries violated certain provisions of the commodity exchange act.

Energy major Total said its net profit for the first three months of the year fell compared with a year ago due to volatile oil prices and debt costs.

Chip stocks in the region including Siltronic, Ams and STMicroelectronics lost more than 1 percent after Intel Corp reduced its full-year revenue forecast, adding to concerns that an industry-wide slowdown could persist until the end of 2019.

Meanwhile, healthcare, which is also seen as a defensive sector, was a bright spot. It was helped by French drugmaker Sanofi after it returned to growth with higher profits and revenues for the first-quarter.

Luxembourg-based satellite operator SES led media stocks higher after it maintained its full-year outlook on the back of the company’s Networks division.

Automakers in the region rose 0.4 percent, led by Valeo’s 6 percent jump as the French parts maker said its performance would improve in the second half of the year.

Continental AG advanced after it backed its outlook for the year despite reporting a fall in first-quarter earnings.

Renault rose more than 3 percent as it clung to full-year targets and pursues merger talks with its Japanese partner Nissan.

(Reporting by Medha Singh and Agamoni Ghosh in Bengaluru; Editing by Gareth Jones and Elaine Hardcastle)

Source: OANN

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U.S. President Donald Trump hosts Take Our Daughters and Sons to Work Day at the White House in Washington
U.S. President Donald Trump gives a thumbs up to his audience as he hosts Take Our Daughters and Sons to Work Day at the White House in Washington, U.S., April 25, 2019. REUTERS/Kevin Lamarque

April 26, 2019

By Jan Wolfe and Richard Cowan

(Reuters) – The “i word” – impeachment – is swirling around the U.S. Congress since the release of Special Counsel Robert Mueller’s redacted Russia report, which painted a picture of lies, threats and confusion in Donald Trump’s White House.

Some Democrats say trying to remove Trump from office would be a waste of time because his fellow Republicans still have majority control of the Senate. Other Democrats argue they have a moral obligation at least to try to impeach, even though Mueller did not charge Trump with conspiring with Russia in the 2016 U.S. election or with obstruction of justice.

Whether or not the Democrats decide to go down this risky path, here is how the impeachment process works.

WHAT ARE GROUNDS FOR IMPEACHMENT?

The U.S. Constitution says the president can be removed from office by Congress for “treason, bribery, or other high crimes and misdemeanors.” Exactly what that means is unclear.

Before he became president in 1974, replacing Republican Richard Nixon who resigned over the Watergate scandal, Gerald Ford said: “An impeachable offense is whatever a majority of the House of Representatives considers it to be at a given moment in history.”

Frank Bowman, a University of Missouri law professor and author of a forthcoming book on the history of impeachment, said Congress could look beyond criminal laws in defining “high crimes and misdemeanors.” Historically, it can encompass corruption and other abuses, including trying to obstruct judicial proceedings.

HOW DOES IMPEACHMENT PLAY OUT?

The term impeachment is often interpreted as simply removing a president from office, but that is not strictly accurate.

Impeachment technically refers to the 435-member House of Representatives approving formal charges against a president.

The House effectively acts as accuser – voting on whether to bring specific charges. An impeachment resolution, known as “articles of impeachment,” is like an indictment in a criminal case. A simple majority vote is needed in the House to impeach.

The Senate then conducts a trial. House members act as the prosecutors, with senators as the jurors. The chief justice of the U.S. Supreme Court presides over the trial. A two-thirds majority vote is required in the 100-member Senate to convict and remove a president from office.

No president has ever been removed from office as a direct result of an impeachment and conviction by Congress.

Nixon quit in 1974 rather than face impeachment. Presidents Andrew Johnson in 1868 and Bill Clinton in 1998 were impeached by the House, but both stayed in office after the Senate acquitted them.

Obstruction of justice was one charge against Clinton, who faced allegations of lying under oath about his relationship with White House intern Monica Lewinsky. Obstruction was also included in the articles of impeachment against Nixon.

CAN THE SUPREME COURT OVERTURN?

No.

Trump said on Twitter on Wednesday that he would ask the Supreme Court to intervene if Democrats tried to impeach him. But America’s founders explicitly rejected making a Senate conviction appealable to the federal judiciary, Bowman said.

“They quite plainly decided this is a political process and it is ultimately a political judgment,” Bowman said.

“So when Trump suggests there is any judicial remedy for impeachment, he is just wrong.”

PROOF OF WRONGDOING?

In a typical criminal court case, jurors are told to convict only if there is “proof beyond a reasonable doubt,” a fairly stringent standard.

Impeachment proceedings are different. The House and Senate “can decide on whatever burden of proof they want,” Bowman said. “There is no agreement on what the burden should be.”

PARTY BREAKDOWN IN CONGRESS?

Right now, there are 235 Democrats, 197 Republicans and three vacancies in the House. As a result, the Democratic majority could vote to impeach Trump without any Republican votes.

In 1998, when Republicans had a House majority, the chamber voted largely along party lines to impeach Clinton, a Democrat.

The Senate now has 53 Republicans, 45 Democrats and two independents who usually vote with Democrats. Conviction and removal of a president would requires 67 votes. So that means for Trump to be impeached, at least 20 Republicans and all the Democrats and independents would have to vote against him.

WHO BECOMES PRESIDENT IF TRUMP IS REMOVED?

A Senate conviction removing Trump from office would elevate Vice President Mike Pence to the presidency to fill out Trump’s term, which ends on Jan. 20, 2021.

(Reporting by Jan Wolfe and Richard Cowan; Editing by Kevin Drawbaugh and Peter Cooney)

Source: OANN

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