Headlines From The Times

Remembering Rev. Jesse Jackson and Chipotle Reports Its Worst Year Ever

Rev. Jesse Jackson, who led the Civil Rights Movement for decades after Dr. Martin Luther King Jr., died at the age of 84. As leaders around the world reflect on his legacy, Jackson is remembered as one of the nation’s most powerful voices for Black Americans. In other news, Warner Bros. Discovery is giving Paramount Skydance seven days to submit its “best and final” offer to buy the entire studio, including Warner’s cable channels and HBO Max. The move comes after Paramount submitted an enhanced offer last week, complicating Netflix’s proposed $82.7 billion deal. And happy Lunar New Year! The Year of the Fire Horse is said to inspire action, confidence and independence. In business, Chipotle reports its worst business year since going public 20 years ago, and Mattel saw its shares plunge after reporting weak holiday sales due to miscalculated Barbie doll demands. Read more at LATimes.com.

DHS Barrels Towards Shutdown as Congress Leaves Washington and a CA Bill May Provide Mortgage Relief to LA Fire Victims

The Department of Homeland Security could shut down this weekend if lawmakers leave Washington for a holiday break without reaching a deal on a funding bill. Meanwhile, inflation cooled in January. New data shows U.S. inflation at 2.4%, just above the Federal Reserve’s 2% target. In other news, President Trump repealed the 2009 endangerment finding on greenhouse gases, reversing years of federal climate policy. And in Southern California, a storm is expected to bring moderate rain and potentially dangerous waves to the coast next week. In business, a proposed California bill would extend mortgage relief for homeowners rebuilding after the Palisades and Eaton fires, and Wall Street is selling stocks seen as vulnerable to artificial intelligence disruption. Read more at LATimes.com.

The L.A. Power Players in the Epstein Files and Social Media Giants Agree to Teen Safety Ratings

Newly released Justice Department records tied to Jeffrey Epstein mention several prominent Los Angeles figures, including Casey Wasserman, Barry Josephson and Brett Ratner. The documents contain emails, photos and other records ranging from professional to personal, underscoring the breadth of Epstein’s network before his 2019 death while facing sex trafficking charges. Meanwhile, L.A. County officials have voted to place a half-cent sales tax increase on the June ballot. Supporters say the measure would offset expected federal healthcare cuts, while critics question its oversight and impact on taxpayers. In business, major social media companies including Meta, TikTok, and Snap will be evaluated under a new teen safety rating system, and Los Angeles has approved a new adaptive reuse ordinance allowing office buildings to convert into housing.

Why the El Paso Airport Shutdown and the Westminster Mall Finally Has a Demolition Date

The Federal Aviation Administration shut down flights coming in and out of El Paso Airport for 10 days, citing "special security reasons." But then, pretty quickly, lifted that order. Transportation Secretary Sean Duffy says drones from Mexican cartels breached U.S. airspace. And in California, nine people have died inside LA County jails so far this year, an alarming number for the sheriff's department, who's already under investigation by the state over conditions in local lockups. Also, Elon Musk is making waves by merging SpaceX with his AI company. Will there be an AI data center in space? In business, a Super Bowl commercial has ignited a public dispute about ads in chatbots, and the Westminster Mall now has a demolition date. Read more at LATimes.com.

Billionaire Tax Coming to California and How BYD Dethroned Tesla

A proposed tax on billionaires in California: Governor Gavin Newsom is against it, Senator Bernie Sanders is for it. Sanders is soon kicking off a campaign to get that measure across the finish line. Basically, the idea is a one-time 5% tax on the assets of the over 200 billionaires in California. Supporters need signatures from about 875,000 registered voters to submit to election officials by the end of June for the measure to qualify for the November election. Meanwhile, San Francisco public schools shut down on Monday, as teachers walked off the job for the first time in nearly 50 years. San Francisco Unified School District is only offering teachers a 6% raise and limited coverage, blaming decreased state funding and a massive deficit. In business, a survey found that Los Angeles and Long Beach homes are among the most expensive in the nation, and BYD toppled Tesla as the world’s leading electric vehicle seller last year due to increased competition due to the end of federal EV tax incentives, growing competition overseas and brand damage. Read more at LATimes.com.