Appeals court revives Native American challenge to $10B SunZia energy transmission project
A federal appeals court has sided with Native American tribes in their fight against the federal government over a $10 billion energy transmission line designed to carry wind-generated electricity from New Mexico to customers as far away as California.
The Tohono O'odham Nation — along with the San Carlos Apache Tribe, the Center for Biological Diversity and Archaeology Southwest — sued the U.S. Interior Department and then-Interior Secretary Deb Haaland in 2024. They argued that the agency failed to properly consult with the tribes on a historic property designation for southern Arizona's San Pedro Valley.
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Associated Press
22 minutes ago
- Associated Press
American Vanguard Reports First Quarter 2025 Results
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Jun 6, 2025-- American Vanguard ® Corporation (NYSE: AVD), a diversified specialty and agricultural products company that develops, manufactures, and markets solutions for crop protection and nutrition, turf and ornamental management and commercial pest control, today reported financial results for the first quarter ended March 31, 2025. Financial and Operational Highlights – First Quarter 2025 versus First Quarter 2024: Other Operational Highlights: CEO Douglas A. Kaye III stated, 'The first quarter of 2025 presented a challenging environment for suppliers to the global agricultural sector, continuing trends that we have experienced over the past 18-24 months. Against a backdrop of global economic uncertainty and generally high interest rates, customers focused on managing working capital by reducing inventory and limiting procurement to a just-in-time basis. In the face of these conditions, our results for the quarter declined, as compared to last year. While I am pleased with the progress we have made, if market conditions do not improve, we will enact further cost reduction initiatives over the coming quarters. We have made meaningful improvement to our cost structure, but much of that progress is currently being overshadowed in our financial results so far this year by the continued weakness in the agricultural environment.' Mr. Kaye continued, 'The environment is beginning to improve in the second quarter, and, like most industry participants in the agricultural chemical industry, we expect the second half of 2025 to be both seasonally stronger and to benefit from improving customer order rates. We expect to realize the benefit of commercial and operational improvements that are either completed or are well underway. As we continue to transform and simplify this business, future margins will improve, and further margin enhancement in 2026 and beyond is the target.' David T. Johnson, Vice President, CFO and Treasurer, stated 'While the industry recovers from its cyclical downturn, the team has made meaningful improvement to the cost structure. We are pleased with the results from our initial efforts to contain costs and will continue to keep a tight rein on non-essential costs for the foreseeable future. In addition to minimizing operating expenses, we have made significant improvements to our balance sheet. We ended the quarter with total debt of $167 million, which was down from $187 million the prior year. Net working capital decreased to $153 million versus $238 million a year ago. We will continue to focus on strengthening our balance sheet and positioning American Vanguard for a return to growth.' Mr. Kaye concluded, 'I believe that simplifying many of the things we do will allow us to better understand what is important and to deliver against high priority tasks. My message across the organization in this regard is straightforward – SIMPLIFY, PRIORITIZE and DELIVER. If we embrace this mantra, I believe that we can reaffirm American Vanguard's position as a trusted provider of proven agricultural and environmental solutions.' The Company, from time to time, may discuss forward-looking information. Except for the historical information contained in this release the matters set forth in this press release include forward-looking statements. These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements often use words such as 'believe,' 'expect,' 'anticipate,' 'intend,' 'estimate,' 'project,' 'outlook,' 'forecast,' 'target,' 'trend,' 'plan,' 'goal,' or other words of comparable meaning or future-tense or conditional verbs such as 'may,' 'will,' 'should,' 'would,' or 'could.' These forward-looking statements are based on the current expectations and estimates by the Company's management and are subject to various risks and uncertainties that may cause results to differ from management's current expectations. Such factors include risks detailed from time-to-time in the Company's SEC reports and filings. All forward-looking statements, if any, in this release represent the Company's judgment as of the date of this release. The company disclaims any intent or obligation to update these forward-looking statements. View source version on CONTACT: Company Contact American Vanguard Corporation Anthony Young, Director of Investor Relations [email protected] (949) 221-6119 Investor Representative Alpha IR Group Robert Winters [email protected] (929) 266-6315 KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA NEW YORK INDUSTRY KEYWORD: OTHER NATURAL RESOURCES CHEMICALS/PLASTICS FOREST PRODUCTS MANUFACTURING AGRICULTURE NATURAL RESOURCES OTHER MANUFACTURING SOURCE: American Vanguard Corporation Copyright Business Wire 2025. PUB: 06/06/2025 06:15 AM/DISC: 06/06/2025 06:13 AM
CNN
an hour ago
- CNN
The entirely predictable Trump-Musk divorce threatens Musk's business empire
Elon Musk's decision to go all in on Donald Trump never made much sense. His scorched-earth approach to breaking up with Trump is even harder to square. As a close Trump ally, Musk's actions inevitably affected Tesla – the biggest piece of his business empire and the maker of one of the most visible and expensive items that Americans can purchase: electric vehicles. First, Musk turned off Tesla's core customers, Democrats on the coasts, by pouring money and using his influence to help Trump return to the White House. Then he took a chainsaw to the federal workforce. Trump confirmed their relationship has soured, with Musk repeatedly blasting the president's sweeping domestic agenda bill in recent days and a public fight on social media on Thursday. Now, Musk's war of words with the president risk turning off the same Trump voters who may have considered buying a Tesla until this week. Not only that, but Tesla's ambitions for self-driving vehicles require government approval, something that no longer looks like a sure thing amid the Musk-Trump feud. Other Musk businesses like SpaceX are built on government contracts – contracts that Trump wasted no time threatening on Thursday. The past 12 months – with Musk marrying himself to the polarizing Trump brand and then breaking up with him – look like a textbook example of what a CEO should not do, especially a consumer-facing CEO. 'It's a bit of a head-scratcher that Musk is going so rogue-negative towards Trump so quickly. It's a potentially very hazardous path,' Dan Ives, a senior equity research analyst at Wedbush Securities and a longtime Tesla bull, told CNN in a phone interview on Thursday. The Musk-Trump break-up, playing out on the billionaires' respective social media platforms, was both entirely predictable and shocking nonetheless. After Musk blasted Trump's policy bill as a 'disgusting abomination' earlier this week, Trump suggested Musk has 'Trump derangement syndrome.' Musk responded by undercutting Trump's political prowess, saying: 'Without me, Trump would have lost the election.' As two of the world's most powerful people continued to trade public barbs, Tesla shares dropped lower and lower. Tesla shares (TSLA) plummeted 14% on Thursday as the bromance between Trump and Musk imploded in front of the entire world. The selloff erased about $152 billion from Tesla's market value and $34 billion off Musk's net worth, according to the Bloomberg Billionaires Index. Tesla shareholders are dismayed on multiple levels. First, Musk taking on the president so publicly could further shrink the car maker's customer base by angering Trump backers. 'You could end up alienating both sides of the aisle in the course of just a few months. When you're a consumer-facing company, that's the opposite of what you want to do,' Ives said. Secondly, Tesla relies on the federal government for tax credits and for approval of its controversial full-self driving technology, a green light that investors had been hoping for after the election. Neuralink, Musk's brain chip startup, is also reliant on FDA approval. Bigger picture, the Trump administration will help set the regulatory landscape for autonomous vehicles, not to mention artificial intelligence and other Musk priorities. And the president has not been shy about flexing the power of the federal government to hurt his opponents. 'You want Trump nice in the sandbox. You don't want Trump on your bad side,' Ives said. Bill George, an executive fellow at the Harvard Business School and former CEO of health tech company Medtronic, described the recent feud as a 'brutal breakup.' 'Never go to war with the president of the United States,' he said. 'There's going to be a lot of collateral damage to your business.' Trump threatened on Thursday to go after Musk's business empire. 'The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon's Governmental Subsidies and Contracts,' Trump posted on his social media platform, Truth Social. 'I was always surprised that Biden didn't do it! SpaceX, Musk's privately held space company, relies heavily on federal contracts, especially from NASA. SpaceX's Starlink satellite internet recently won business from the Federal Aviation Administration to help the agency upgrade networks used to manage US airspace. Jeffrey Sonnenfeld, founder of the Yale Chief Executive Leadership Institute, said the lesson is not about CEOs taking political positions. 'The lesson here is that there is no honor among thieves. These are two mob bosses that have had a parting of ways. And now they are going to take each other down,' Sonnenfeld told CNN. Harvard Business School's George noted that Musk and Trump had been acting like 'best bros' just days earlier. 'The lesson here is that you can either work in government or run your business,' George said. 'But you can't do both.'
CBS News
an hour ago
- CBS News
Immigrants at ICE check-ins detained, then held in basement of federal building in Los Angeles, some overnight
Many undocumented immigrants who went to their Immigration and Customs Enforcement (ICE) check-in appointments at a federal building in Los Angeles this week were taken into custody and brought to the basement and held there, some overnight, according to immigration lawyers and family members. It was unclear how many people were affected, but the attorneys told CBS News hundreds of immigrants were detained – dozens in the basement in rooms that could fit up to 30 at a time. CBS News reached out to the representatives of ICE and the Department of Homeland Security for comment. One attorney, Lizbeth Mateo, said ICE officials slated several of her clients for check-ins at the Edward R. Roybal Federal Building in downtown L.A. but when they showed up on Tuesday, they were detained and immediately escorted to the basement. Mateo said a couple and their two children, one of whom is a U.S. citizen, spent the night in a room with no beds and limited access to food and water. Mateo said the father had previously been issued a stay of removal, barring him from deportation but he and his family were detained anyway. His wife was released Wednesday evening along with their children since she needed medical attention due to a high-risk pregnancy. He was still being detained early Friday, Mateo said. "This is something I've never seen before," she added. "Under the first Trump administration, I represented clients with very difficult cases, but never anything like this. Under any other circumstance, he would have been released." On Thursday evening, CBS News spoke to people waiting outside the building who claimed they had relatives in the basement who were texting them. "We are telling them that we are waiting for them outside and to remain calm," a woman using the name Maria to protect her identity told CBS News. "We just want to make sure their children, my nieces, have food." Maria said her brother was in the basement along with his wife and their two children – they'd been scheduled for an ICE check-in on Thursday morning. Their asylum requests had previously been denied in court. The family was apparently still being held early Friday. Immigration lawyers said it was also unclear why people were being held in that basement. "They're having to literally house these immigrants in a makeshift detention center, which on its face is illegal," said Juan Proaño, Chief Executive Officer of the League of United Latin American Citizens (LULAC). "It is beyond inhumane treatment for any immigrant and in this particular case, you're talking about families." CBS News obtained internal government data showing arrests by ICE during President Trump's second term topped 100,000 this week, as federal agents intensified efforts to detain unauthorized immigrants in courthouses, worksites and communities across the U.S. ICE recorded more than 2,000 arrests on Tuesday and again on Wednesday, a dramatic increase from the daily average of 660 arrests reported by the agency during Mr. Trump's first 100 days back at the White House, the federal statistics show. During former President Joe Biden's last year in office, ICE averaged roughly 300 daily arrests, according to agency data. The latest numbers show ICE is getting closer to meeting the demands of top administration officials like White House deputy chief of staff Stephen Miller, an immigration hardliner who has forcefully pushed the agency to make "a minimum" of 3,000 arrests each day. "The Trump administration, DHS, ICE have gotten way ahead of themselves. They haven't necessarily planned this properly and don't have the capacity required in order to continue with these large-scale deportations," Proaño asserted. contributed to this report.
