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Investment firm ASL Strategic Value Fund has written a letter to the Community Health Systems board of directors that demands the immediate ouster of CEO Wayne Smith. ASL also urged the board to "claw back significant portions" of compensation from existing and retired executives as the for-profit hospital company continues to bleed losses and flirts with bankruptcy.

Key quote: "Management's previous missteps have resulted in billions of dollars of shareholder losses, all the while reaping tens of millions of dollars in compensation."

Why it matters: ASL's letter was dated Aug. 8 but was just publicized Monday — a week after our report on the collapse of CHS. The company did not respond, and now there's immense pressure on the board to do something. But one hospital industry observer told Axios that Smith has kept his job for so long because CHS' board is "populated with friends of Wayne."

Go deeper

Storms pummel flood-hit Pacific Northwest as border river overflows

An image of the water-logged Sumas Prairie area taken last Friday. Photo: B.C. Ministry of Transportation/Twitter.

The latest ferocious storm system to hit the Pacific Northwest triggered fresh evacuation orders and at least one mudslide in flood-ravaged British Columbia, Canada, late Sunday.

Threat level: Flood sirens sounded in Washington state as the Nooksack River overflowed. Henry Braun, mayor of Abbotsford, B.C., told reporters the water flow was headed toward the Canadian border city later Sunday. "There's nothing to stop it," he said.

Updated 3 hours ago - Health

First North American Omicron cases identified in Canada

COVID-19 testing personnel at Toronto Pearson International Airport in September. Photo: Steve Russell/Toronto Star via Getty Images

The first two cases of the new Omicron variant have been detected in North America, the Canadian government announced Sunday evening.

Driving the news: The World Health Organization has named Omicron a "variant of concern," but cautioned earlier on Sunday that it is not yet clear whether it's more transmissible than other strains of COVID-19.

Former Defense Secretary Esper sues Pentagon over book

Former President Trump and former Defense Secretary Mark Esper at the White House in 2020. Photo: Mandel Ngan/AFP via Getty Images

Former Defense Secretary Mark Esper filed a lawsuit Sunday against the Defense Department, accusing the Pentagon of "censoring" his First Amendment rights by redacting aspects of his upcoming book on the Trump administration.

The big picture: Esper, who served as defense secretary from July 2019 until he was fired by then-President Trump in November last year, alleges in the suit that "significant text" is "being improperly withheld from publication" of the manuscript "under the guise of classification."