Business
Video: New Tariffs Worry Furniture Sellers
new video loaded: New Tariffs Worry Furniture Sellers
transcript
transcript
New Tariffs Worry Furniture Sellers
New tariffs on imported furniture, kitchen cabinets and lumber came into effect on Tuesday. President Trump has threatened more.
-
Everybody is going to be slowly raising their price once every three months or once every six months, you know. But everybody is going to be raising their price — that’s for sure. I wasn’t against the president trying it, because I think we need better trade deals. The longer it goes on, the more it hurts, so I’d like to see something resolved as soon as possible to try to get a fair deal for everybody.
By Monika Cvorak
October 14, 2025
Business
Read the Email From the ‘60 Minutes’ Stars
TO All our colleagues at 60
FROM Lesley, Bill and Jon
We have had a hard time deciding whether to stay at 60 Minutes. We’re still deeply upset by the firings of Tanya and Draggan, strong leaders who everyone respected. As far as we can tell – because no explanation has ever been offered, they were expelled because they fought for our 60 Minutes values and stood up to protect our independence and integrity.
Newsrooms are not supposed to be run like dictatorships. Collaboration and argument are the way we have always worked at 60. Don Hewitt actually encouraged loud passionate advocacy for our pieces.
This goes for Sharyn, Cecilia and Scott as well, all at the top of the world of TV journalism who exemplified 60 Minutes’ ethos of tough questions and honest storytelling.
And Guy Campanile, an outstanding 60 Minutes producer whose advice on our stories was invaluable.
And Matt Polevoy, who ran our online operations, moved us onto YouTube, was working on developing 60 Minutes Podcasts and many other projects expanding our presence on the Web: vital and necessary for our future.
We want to express how sorry we are that these principled, fair and honest journalists were treated so shabbily, with such indecency. Tanya deserves to be celebrated, not cruelly cast off. Draggan too. It’s been heartbreaking.
But, we have decided to stay on.
We feared that our returning might be construed as an endorsement of the existing power structure. That is simply, categorically not the case.
Here’s why we’re are staying:
We don’t want to see 60 Minutes die.
We have been grieving because this whole mess has wounded and damaged the broadcast. We want to stay and fight, try to repair and preserve our reputation by continuing the Mike Wallace tradition of hold their feet to the fire as well as Morley’s brand of quirky off-kilter reports like his on why people in Finland like to tango!
1
Business
Polluted rain runoff from big box store parking lots could see a crackdown
When rain falls on California shopping centers and warehouses, the water runs off parking lots carrying metal dust and chemicals from vehicle tires and brake pads, oil and grease from engines, and bacteria from trash.
The gunk washes into storm drains and pollutes creeks, rivers and beaches.
Now environmental advocates are pushing state regulators to crack down by requiring stormwater permits — essentially best practices — for businesses that haven’t been held accountable for their polluted runoff.
“Commercial properties right now are not regulated under any stormwater permit,” said Sean Bothwell, executive director of California Coastkeeper Alliance. “Think Costco, think Amazon warehouses. Large places with large parking lots are really what we’re going after.”
Groups that represent the businesses say they are already paying property taxes that in L.A. County include a special tax for cleaning up stormwater, and that imposing new regulations in this way doesn’t make sense.
But California Coastkeeper Alliance and other nonprofit groups submitted petitions to regional water officials across the state this week demanding they begin regulating commercial properties such as big-box stores, auto dealers and industrial parks.
A drone view of the East L.A. Sustainable Median Stormwater Capture Project in East Los Angeles.
(Robert Gauthier/Los Angeles Times)
The groups want the State Water Resources Control Board to establish a statewide rule, or permit, for “commercial, industrial and institutional” properties, which also include stadiums, malls and private hospitals.
If the state doesn’t act, Bothwell said, “our waterways will never be safe to fish or swim in, particularly Southern California beaches.”
That’s because a large portion of the pollution fouling waterways comes from these businesses. Bothwell said his group estimates, using methods developed by the federal Environmental Protection Agency, that unregulated businesses are responsible for 30% to 60% of metals like copper and zinc found in waterways, depending on the area. At high concentrations, these are toxic to fish and other animals.
Many Southern California creeks and concrete-lined channels are deemed “impaired” by regulators because pollution levels violate water quality standards.
The way California currently enforces the federal Clean Water Act, the businesses have no obligation to reduce the filthy water that flows into drains, and the costs of cleanup efforts fall to cities and counties, Bothwell said.
Because large parking lots often contribute to polluted stromwater runoff, environmental groups are urging state regulators to start requiring permits.
(Robert Gauthier/Los Angeles Times)
Instead, the cities or counties where they are located are regulated. Researchers estimate California cities and counties spend more than $700 million each year on capturing and cleaning up stormwater.
California would be the first in the country to adopt such a statewide standard or permit. In addition to cities, the state already requires stormwater permits for construction sites, roads and certain industrial plants.
Business groups have opposed the proposal. John Myers, a spokesperson for the California Chamber of Commerce, noted that the effort to mandate stormwater permits has been discussed for several years in L.A. County after environmental groups won a favorable court ruling. “Simply choosing to use that effort as a template for other diverse regions, without a careful analysis of benefits and costs, could have major impacts on California’s economy,” he said.
The Los Angeles County Business Federation, or BizFed, raised similar concerns.
“Everyone wants cleaner waterways. However, this proposal simply isn’t ready for prime time,” said Mike Lewis, BizFed’s water co-chair.
As written, the proposal “hits existing property owners with retroactive costs while simultaneously ignoring the stormwater taxes they’ve been paying in good faith for years,” Lewis said in an email. “This seems less like environmental policy and more like a penalty. There are better, fairer ways to clean up stormwater.”
If there were a statewide measure for commercial businesses, many would probably have to build retention ponds or swales to filter out contaminants before water percolates underground. Or they could pay an annual fee, helping to fund local stormwater projects that cities need.
The money collected from companies, Bothwell said, would be used for building wetlands, water-absorbing parks and other green spaces next to parking lots — which help clean runoff instead of letting it run into storm drains.
At the same time, Southern California cities have been investing in projects to capture stormwater and recharge groundwater as they seek to rely less on water imported from Northern California and the Colorado River.
Unless the state acts, contaminated water will continue running off businesses’ parking lots into drains, adding to the “toxic soup” in Southern California waterways, said Bruce Reznik, executive director of Los Angeles Waterkeeper.
California Coastkeeper Alliance and a coalition of local Waterkeeper groups submitted the petitions to regional boards in the Inland Empire, San Diego, the Bay Area, the Central Coast, the north coast and the Sacramento Valley.
They invoked a provision of the Clean Water Act that authorizes states to require additional permits on a case-by-case basis.
L.A. Waterkeeper and other environmental groups successfully used the same provision to convince the EPA in 2024 to require permits for businesses near the polluted Dominguez Channel and Los Cerritos Channel in L.A. County. State regulators are preparing to issue those permits.
The regional water boards received the new petitions and will consider them, said Ailene Voisin, a spokesperson.
In 2022, Gov. Gavin Newsom vetoed legislation that would have required stormwater permits for many businesses statewide. In 2025, a similar bill faced opposition and died in the Legislature.
Business
Value of Huntington Beach defense tech startup balloons to $1.8 billion
California defense tech startup Mach Industries said Tuesday it raised $300 million, nearly quadrupling the company’s valuation to $1.8 billion within a year.
The Huntington Beach startup’s soaring valuation underscores how defense tech funding is booming as armed conflicts such as the Iran war and the Russian-Ukrainian war continue. Infinite Capital and Ribbit Capital led Mach Industries’ Series C funding round.
“We’re delivering advanced unmanned systems at the pace the threat environment demands, and we’re grateful to our investors for believing in our ability to strengthen American and allied superiority on the battlefield,” Mach Industries Chief Executive Ethan Thornton said in a statement.
Thornton, 22, launched the Huntington Beach defense tech startup in 2023 after dropping out of the Massachusetts Institute of Technology, where he studied aerospace engineering.
The startup builds drones and other defense systems, developing products such as Viper, its vertical-takeoff strike vehicle; Glide, its high-altitude glider capable of launching weapons; and Stratos, its airborne satellite platform for surveillance.
Well-known venture capital firms such as Sequoia Capital, Khosla Ventures and Bedrock Capital have backed the defense tech startup.
The funding will help Mach Industries expand its manufacturing, advance its technology and deepen its partnerships with customers that include the U.S. Army and Air Force, according to a news release about the funding round. The startup has been growing its business, acquiring rocket-maker Exquadrum for $50 million in April.
As the Trump administration pushes to modernize and expand the U.S. military by partnering with major technology companies, some tech workers at companies such as Google, Amazon, Anthropic and OpenAI are raising concerns about the use of artificial intelligence in autonomous weapons and mass surveillance.
Despite these worries, some of the world’s largest tech companies are increasing their work with the U.S. military. In April, eight technology companies, including Google, Nvidia and SpaceX, struck a deal with the Pentagon to strengthen the U.S. military and establish an “AI-first fighting force.”
The effort has also benefited defense tech startups and AI companies that work with the military. Southern California has been a hub for aerospace and defense tech companies, including Costa Mesa-based Anduril Industries, which reached a $61-billion valuation this year.
-
News20 minutes agoDemocrat Xavier Becerra wins the top spot in November’s race for California governor
-
Los Angeles, Ca2 hours agoMan wanted for deadly Los Angeles road rage shooting extradited from Mexico
-
Detroit, MI2 hours ago‘I could have died’: 14-year-old speaks out after surviving shooting during ‘teen takeover’ in Detroit
-
San Francisco, CA2 hours agoDriver Who Raped Woman After She Mistook His Car For An Uber Convicted By Bay Area Jury
-
Dallas, TX2 hours agoHouse fire on Dallas Court in Rockford leaves more than $100K in damage
-
Miami, FL2 hours agoWildlife officers investigate raccoon attack in North Miami
-
Boston, MA3 hours agoBoston Pride for the People Parade is set to step off, with history, protest in mind
-
Denver, CO3 hours agoHow a Christian Braun Trade to the Mavericks Could Help Nuggets